Global Pet Wearable Market Projected to Show Strong Growth by 2026

Posted by ganesha on October 29th, 2019

Global Pet Wearable Market By Product (Smart Collar; Smart Camera; Smart Harness & Vest; Tags; Monitors; Trackers; Translators); Technology (RFID; GPS; Sensors; Others); Animal Type (Companion; Livestock); Application (Identification & Tracking; Behaviour Monitoring & Control; Facilitation, Safety & Security; Medical Diagnosis & Treatment); End-Use (Commercial; Household); Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2026

Market Definition: Global Pet Wearable Market

Pet wearables are electronic wearable devices that help humans keep a real-time record of their pets, livestock and companion animals with the help of wireless communication systems. These devices help humans in monitoring the health, keep a track of their location, help in unique identification of their pets, as well as help in continuous monitoring of their behaviour and their movement activities.

Market Drivers:

•          Growing advancements in technologies associated with the development and activities associated with these devices is also expected to foster growth of the market
•          Rapid growth in demand for better services related to healthcare of pets is expected to augment growth of the market
•          Increasing adoption of GPS-enabled devices and components; this factor is expected to positively affect the growth of the market
•          Increased consumption for heat detection, identification and tagging solutions; this factor is expected to drive the growth of the market

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Market Analysis: Global Pet Wearable Market

Global Pet Wearable Market is expected to rise to an estimated value of USD 3.30 billion by 2026, registering a healthy CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the significant surge in the availability of IoT devices and systems.

Market Restraints:

•          Unavailability of infrastructures for wireless monitoring of pets and livestock animals; this factor is expected to restraint the growth of the market
•          Requirement of large financial costs associated with acquiring and maintaining the continued operations of these devices; this factor is expected to restrict the growth of the market
•          Concerns regarding the short-battery life of these devices is also expected to restrain the growth of the market

Segmentation: Global Pet Wearable Market

By Product

•          Smart Collar
•          Smart Camera
•          Smart Harness & Vest
•          Tags
•          Monitors
•          Trackers
•          Translators

By Technology

•          RFID
•          GPS
•          Sensors
•          Others

By Animal Type

•          Companion
•          Livestock

By Application

•          Identification & Tracking
•          Behaviour Monitoring & Control
•          Facilitation, Safety & Security
•          Medical Diagnosis & Treatment

By End-Use

•          Commercial
•          Household

Competitive Analysis

Global pet wearable market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of pet wearable market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Key Developments in the Market:

In July 2019, Whistle announced the launch of innovative pet wearables, “Whistle GO” and “Whistle GO Explore”. The products are next-generation products compiled with advanced safety and activity monitoring inclusive of a health monitoring platform. The devices offer real-time tracking of pets, improved levels of batter life, illuminating device and is also available in different colours

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