Global Pet Wearable Market Size, Trends & Forecast (2019 - 2024)
A growing array of wearables like electronic collars and cameras can help us to keep an eye on pet's activity, location, and even emotional state. The data from these tech wearables can be stored and displayed to show trends, such as calories consumed, burned, and physical activity, that is, all the information that's useful to share with a veterinarian.
With the rapid development in the pet-tech industry, the global pet wearables market is estimated to rise from USD 1.32 Billion in 2017 to nearly USD 1.57 Billion by the end of 2024.
Recent Developments:
The Squeaker Collar has made Smart Dog Collars which will help you to keep your dog in sight even if it loves to walk, jog or run. You can view this pet wearable for up to 1 kilometer.
The Pet Safe's new Big Remote Collar can track big breed dogs that weigh over 40lbs and can all work up to 100-yard range.
Another latest GPS tracker is the Tag which is suitable for tracking dogs. This device has already received appreciation for its reliable GPS tracking service that is incomparable to other GPS trackers on the market.
To know more, please check out http://petnuity.com/best-gps-trackers-for-tracking-dogs/
Market Drivers & Restraints:
Wearable devices empower the pet owner to keep track when they can't be with their pets. Hence, there will always be a high demand for such devices leading to the popularity of the pet wearable market. The future is filled with info about pet's whereabouts, the amount and type of exercise they receive, and apps on mobile devices keeping us updated about all this, creating an exceptional demand for the pet wearable tech industry.
However, more research is expected in this area as there is no complete guide stating the full effects of radiation a pet might encounter as a result of wearing a wireless tracking device directly on its body. Also, the high-power consumption of these devices and high prices can be considered as a limitation of the pet wearable market.
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Report Segmented as:
By Technology:
• GPS Chips
• Bluetooth Chips
• Sensors
• Processors
• Wi-Fi
• Cellular
By Application:
• Medical Diagnosis and Treatment
• Identification and Tracking
By Product:
• Smart Harnesses
• Smart Collars
• Smart Cameras
Geographical Segmentation:
North America is estimated to hold the largest market share, followed by regions of Europe, Asia-Pacific, Latin America, and Middle East & Africa. The regional business growth in this area can be attributed to the increasing pet consumption and consumer awareness about various tracking devices available in the market.
Key market players:
• PetPace
• Motorola
• Scollar
PetSafe
• Garmin
• FitBark
• Whistle Labs
• KYON
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Scope of the report:
The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along with this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level.
Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.
The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis of prime strategic activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.
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