The latest report by IMARC Group, titled “Pet Wearable Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” finds that the global pet wearable market exhibited strong growth during 2015-2020. Pet wearables are devices worn on the pet's body for identification, monitoring, controlling, tracking, medical diagnosis, treatment, facilitation, safety and security purposes. They help pet owners to track the location of their pets and identify them easily within a limited time by using their smartphones. Pet wearables also enable pet owners and veterinary doctors to check and diagnose possible disease symptoms at an early stage and provide treatment accordingly. These wearables also allow pet owners to monitor pet behavior and enhance pet engagement with the external environment.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Pet Wearable Market Trends:
With a significant rise in the pet adoption rate, especially dogs, and the increased spending on pet care, there has been a high demand for pet wearables. The growing concerns among pet owners about the health and fitness of their pets are also contributing to the market growth. Pet wearables enable statistical tracking, such as rest patterns, calories burnt, and heart rate of animals. Furthermore, the market is catalyzed with the emergence of the Internet of Things (IoT), which has provided cloud-based and data analytics services that allow pet owners to store medical records on the cloud and to offer controlled monitoring of pets remotely. Moreover, advancements in technology have enabled manufacturers to develop innovative devices and accessories, such as smartwatches, pet trackers, smart collars and dog tracking chips, which are made with superior quality and durable materials. This has further encouraged pet owners to invest in high-quality pet products with premium pricing. Looking forward, the market is anticipated to grow at a CAGR of around 13% during the forecast period (2021-2026).
- Based on the product, the market has been segmented into smart collars, smart vests, smart harnesses, smart cameras and others.
- On the basis of the technology, the market has been categorized into GPS, RFID, sensor and others.
- The market has been classified based on the application 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 bifurcated into the household and commercial sectors.
- The market has been classified based on the distribution channel into modern trade, franchised outlets, specialty stores, e-commerce and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Indonesia, Australia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others), and 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 Mobility LLC (Lenovo Limited), Petcube Inc., PetPace Ltd., Tractive GmbH, and Whistle Labs Inc. (Mars Inc.).
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