The global pet wearables market is projected to witness a compound annual growth rate of 11.02% during the forecast period to reach a total market size of US$2.712 billion by 2023, increasing from US$1.448 billion in 2017. The surge in global pet wearables demand is primarily driven by advancements in wireless area networks, efficient and cost-effective wireless sensors, higher adoption of digital maps and development of a mobile application with inbuilt digital maps. One of the important factors expected to propel the growth of pet wearable market is increasing trend of IoT, which is enabling connection of smart devices such as smartphones, laptops, and tablets to these pet wearable devices which enables the user to continually monitor the health and track the movement of their pets. In various developing countries, increasing adoption of pets and growing awareness towards pet fitness and health along with increasing disposable income will propel the growth of pet wearables market. However, several factors such as high power consumption, purchasing costs, lack of infrastructure, and high cost of network installation are expected to hinder the market growth.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the pressure sensors value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the market.
Major industry players profiled as part of the report are Otto Petcare Systems, PetPace LLC, Afimilk, Ltd., Whistle Labs, Inc., Loc8tor, Ltd., and Dairymaster among others.
The global pet wearables market has been analyzed through following segments:
By Product Type
Medical Diagnosis and Treatment
Identification and Tracking
Behaviour Monitoring and Control
Middle East and Africa