Global Pet Wearable Market to Reach US$ 6.5 Billion by 2032, Stimulated by the Increasing Number of Pet Owners

July 13, 2023 | Technology & Media

According to the latest report by IMARC Group, titled “Pet Wearable Market Report by Product (Smart Collar, Smart Vest, Smart Harness, Smart Camera, and Others), Technology (GPS, RFID, Sensors, and Others), Application (Identification and Tracking, Monitoring and Control, Medical Diagnosis and Treatment, Facilitation, Safety and Security), End-User (Households, Commercial), Distribution Channel (Modern Trade, Franchised Outlets, Specialty Stores, E-Commerce, and Others), and Region 2024-2032,” the global pet wearable market size reached US$ 2.3 Billion in 2023. A pet wearable is an advanced technology device, typically equipped with GPS trackers, sensors, and wireless connectivity, designed to monitor, track, and ensure the safety of pets. It is primarily used to collect and analyze data related to the pet's location, health, fitness, and other vital indicators, which come in various forms, such as collars, tags, vests, and harnesses. It serves multiple purposes, including tracking lost pets, monitoring pet behavior, and even diagnosing potential health problems. Besides this, it is integrated with mobile applications and cloud-based services, enabling pet owners to access real-time information about their pets at any time, from any place. Additionally, it has emerged as a significant segment in the rapidly growing global smart wearable market, catering to the needs of pet owners who prioritize the health and well-being of their animal companions.

Global Pet Wearable Market Trends:

The widespread product adoption among pet owners due to the growing concern for pet safety and health among owners majorly drives the global market. Along with this, the rising advancement in technology and the increasing penetration of IoT devices have further fueled this market growth, enabling more sophisticated features, such as health monitoring and fitness tracking. Moreover, the inflating disposable income and pet humanization trends are influencing pet owners to invest more in their pet's well-being, further augmenting the market. The pet wearable market is also witnessing a rise in demand due to the increasing number of pet owners using these devices to monitor their pet's fitness and dietary needs, contributing to preventive healthcare for animals. Another pivotal trend is the escalating demand for pet wearables with advanced features, including real-time tracking and health alerts. In addition, the advent of eco-friendly pet wearables, designed with biodegradable materials and low energy consumption, on account of the growing environmental consciousness among consumers, thus adding to the market growth. Looking forward, the market value is projected to reach US$ 6.5 Billion by 2032, expanding at a CAGR of 12% during 2024-2032.

Market Summary:

  • Based on the product, the market has been segmented into smart collar, smart vest, smart harness, smart camera, and others.
  • On the basis of the technology, the market has been divided into GPS, RFID, sensors, and others.
  • Based on the application, the market has been segregated into identification and tracking, monitoring and control, medical diagnosis and treatment, and facilitation, safety, and security.
  • On the basis of the end-user, the market has been segmented into households and commercial.
  • Based on the distribution channel, the market has been divided into modern trade, franchised outlets, specialty stores, e-commerce, and others.
  • Region-wise, the market has been segmented into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
  • The competitive landscape of the market has also been examined, with some of the key players being Cybortra Technology Co. Ltd., Dogtra, FitBark Inc., Garmin Ltd., High Tech Pet Products Inc., Invisible Fence Inc. (Radio Systems Corporation), Loc8tor Ltd., Motorola (Lenovo), Petcube, PetPace Ltd., Tractive and Whistle Labs Inc. (Mars Inc.).

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Product, Technology, Application, End-User, Distribution Channel, Region
Region Covered Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Cybortra Technology Co. Ltd., Dogtra, FitBark Inc., Garmin Ltd., High Tech Pet Products Inc., Invisible Fence Inc. (Radio Systems Corporation), Loc8tor Ltd., Motorola (Lenovo), Petcube, PetPace Ltd., Tractive and Whistle Labs Inc. (Mars Inc.)
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Global Pet Wearable Market to Reach US$ 6.5 Billion by 2032, Stimulated by the Increasing Number of Pet Owners
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