Enjoy complimentary customisation on priority with our Enterprise License!
The pet wearable market size is forecast to increase by USD 3.67 billion at a CAGR of 18.57% between 2023 and 2028.
The pet wearable industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The smart collar segment is estimated to witness significant growth during the forecast period.
Smart collars, integrated with GPS tracking technology, have gained significant traction in the pet care industry. These advanced pet accessories offer pet owners peace of mind by enabling real-time location monitoring, ensuring quick retrieval in case of loss or escape. The user-friendly design and convenience of smart collars have broadened their appeal to various demographics. Pet healthcare and insurance companies are increasingly integrating these devices into their offerings, expanding distribution channels and enhancing customer satisfaction. Fitness tracking features, remote control capabilities, mobile apps, and behavioral insights are some additional benefits that contribute to the competitive advantage of smart collars. Wearable sensors, biometric data, and cloud platforms facilitate health monitoring and data analytics, providing valuable insights for pet owners.
The pet technology market is witnessing a in the adoption of connected devices, with smart collars, feeders, and homes becoming integral components of the modern pet lifestyle. The integration of IoT and wearable technology in pet care is revolutionizing pet safety and training, offering interactive toys, wearable design, and luxury options. Pricing strategies, comfort and fit, pet grooming, consumer behavior, and veterinary care are among the key considerations for pet owners when choosing smart collar solutions. Smart collars cater to niche markets, including those focused on dog training, activity levels, and sleep tracking, offering a unique selling proposition for companies.
Get a glance at the market report of share of various segments Request Free Sample
The Smart collar segment was valued at USD 546.50 billion in 2018 and showed a gradual increase during the forecast period.
North America is estimated to contribute 40% to the growth of the global market during the forecast period.Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
For more insights on the market size of various regions, Request Free Sample
In North America, the expanding pet ownership base, comprised of numerous households with pets, fuels the demand for pet-related products, particularly wearables. Pet owners are increasingly focused on their pets' health and well-being, leading them to explore methods for monitoring activity levels, health status, and ensuring safety. Advanced technology has brought about more sophisticated and accessible pet wearables, featuring real-time tracking, remote monitoring, and effortless smartphone and smart home device integration. The market for pet wearables in North America is anticipated to thrive as technology advances, awareness grows, and more pet owners recognize the benefits of utilizing these devices to supervise and enhance their pets' lives.
Pet healthcare and insurance industries are leveraging distribution channels to offer pet wearables, contributing to their widespread adoption. Customer satisfaction is a key priority, driving the development of user-friendly designs, comfort, and fit. Fitness tracking, behavioral insights, and health monitoring are popular features, catering to the needs of various pet species and lifestyles. Wearable technology, IoT integration, and cloud platforms are essential components of these devices, offering pet owners valuable data analytics and real-time insights into their pets' well-being. Brand loyalty is a significant factor in the pet care industry, with pet owners seeking high-quality, reliable, and fashionable wearables.
Dog training, cat training, and pet safety are addressed through features like activity trackers, smart collars, and automated feeders. Comfort and fit are crucial considerations, ensuring the devices are not only effective but also comfortable for pets to wear. Pet grooming and consumer behavior are also taken into account, with heart rate monitoring and smart homes integrations catering to the needs of pet owners. Luxury pet wearables and veterinary care are emerging niches in the market, offering high-end solutions for discerning pet owners. Pricing strategies, Bluetooth connectivity, and wearable design are essential elements in the competition for market share.
Interactive toys and pet accessories further enhance the value proposition of these devices, providing entertainment and engagement for pets while offering peace of mind for their owners.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The pet wearable market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the pet wearable market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, pet wearable market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
Whistle Labs Inc. - The company introduces Avid Collar Tags as its innovative pet wearable solution, enhancing pet safety and tracking capabilities through advanced technology. These tags offer reliable location monitoring, ensuring peace of mind for pet owners. By utilizing cutting-edge GPS and Bluetooth connectivity, the tags enable real-time tracking and instant notifications for pet escape situations. The sleek and durable design ensures pet comfort and compatibility with various collar sizes. This technological investment empowers pet owners with essential tools for managing their pets' safety and wellbeing.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The pet care industry continues to witness significant growth as pet ownership becomes a global phenomenon. One of the most intriguing segments within this industry is the market, which encompasses a diverse range of technologies designed to enhance the health, safety, and lifestyle of pets. This market is characterized by continuous innovation and the integration of advanced technologies such as GPS trackers, pet healthcare, pet insurance, distribution channels, and customer satisfaction. GPS trackers have emerged as a popular choice for pet owners seeking peace of mind and location awareness. These devices enable real-time monitoring of a pet's whereabouts, ensuring their safety and providing valuable insights into their activity levels.
Pet healthcare and insurance offerings have also gained traction, with many companies integrating these services into their wearable solutions to cater to the growing demand for comprehensive pet care. Distribution channels have evolved to accommodate the diverse needs of pet owners, with online sales and mobile apps becoming increasingly popular. Brands are leveraging user experience and design to differentiate themselves in the market, offering smart leashes, pet cameras, cat wearables, and interactive toys. These wearables not only serve functional purposes but also cater to the fashion-conscious pet owner, with luxury pet wearables and IoT integration becoming popular trends.
Pet technology has expanded beyond basic fitness tracking and remote control features, with wearable sensors now providing behavioral insights and health monitoring capabilities. Data analytics and cloud platforms enable pet owners to access valuable information about their pet's health, activity levels, and behavior, fostering brand loyalty and driving adoption rates. The pet care industry's demographics have evolved, with an increasing number of older adults and millennials adopting pets. As a result, niche markets such as senior pet care and pet lifestyle have emerged, driving demand for pet technology that caters to these specific needs. Wearable technology has become an essential tool for pet training, with smart collars and automated feeders enabling remote training and automated feeding schedules.
Pricing strategies have become a critical factor in the market, with brands offering various tiers to cater to different budgets. Comfort and fit are essential considerations for pet owners, with wearable design and pet accessories playing a crucial role in ensuring the success of these technologies. Pet grooming and pet toys have also become integrated into the market, with smart homes and smart feeders offering convenience and added value. In , the market is a dynamic and evolving segment of the pet care industry. The integration of advanced technologies, such as GPS trackers, pet healthcare, and IoT, has transformed the way pet owners care for their pets. The market's focus on user experience, design, and data analytics has fostered brand loyalty and driven adoption rates, making pet wearables an essential tool for modern pet care.
|
Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
158 |
|
Base year |
2023 |
|
Historic period |
2018-2022 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 18.57% |
|
Market growth 2024-2028 |
USD 3669.3 million |
|
Market structure |
Fragmented |
|
YoY growth 2023-2024(%) |
14.35 |
|
Key countries |
US, China, Japan, Germany, France, Spain, Canada, India, South Korea, France, Japan, Italy, Brazil, UAE, UK, Spain, Rest of World (ROW), and Mexico |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
We can help! Our analysts can customize this pet wearable market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Application
8 Market Segmentation by Technology Type
9 Market Segmentation by Animal Type
10 Customer Landscape
11 Geographic Landscape
12 Drivers, Challenges, and Opportunity/Restraints
13 Competitive Landscape
14 Competitive Analysis
15 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Get the report (PDF) sent to your email within minutes.
Complimentary full Excel data with your report purchase.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
