According to the latest report by IMARC Group, titled "Smart Connected Pet Collar Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global smart connected pet collar market reached a value of US$414.4 Million in 2021.A smart connected pet collar refers to a device that is generally used for tracking the activities of pets. It is usually equipped with a global positioning system (GPS) solution, wireless fidelity (Wi-Fi), Bluetooth and long-term evolution (LTE) connectivity that aid in monitoring pet activities remotely and help in addressing health-related issues in advance. It can be connected to a smartphone that reflects the information related to heart and respiratory rates, location, and the total time of movement of pets. The demand for smart connected pet collarsisrising among pet parents since they are convenient to use and manage.
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 Smart Connected Pet CollarMarket Trends:
The global market is primarily driven by theincreasing pet humanization trend among the masses. Coupled with the rising adoption of pets and the growing concerns regarding pet health and wellness, this is creating a positive market outlook. The demand for smart connected pet collars is further impelled by the inflating disposable income levels of the masses and the widespread adoption of smartphones among individuals. Moreover, continuous improvements in the e-commerce infrastructure, along with the advent of online delivery models,are propelling the demand for smart connected pet collars across the globe. Additionally, numerous leading players are heavily investing in product innovations, thereby providing a boost to the market growth. For instance, the introduction of smart pet collars that allows the setting of fitness goals as per the breed, weight and age of pets andthe rising integration of flashing light-emitting diode (LED) and geofencingfeature with these collars are gaining prominence among the masses. Other factors, including the growing number of pet shelters and animal hospitals on the global level and the advent of 5G technology, are also favorably influencing the market. On account of the aforementioned factors,the market is anticipated to reach a value of US$ 684.1 Million by 2027, exhibiting a CAGR of 8.83% during 2022-2027.
- On the basis of the pet type, the market has been segregated into cats and dogs.
- Based on the application, the market has been segmented into GPS location monitoring, activity and health monitoring, multi-purpose monitoring, and others.
- On the basis of the sales channel, the market has been classified into offline and online.
- Based on the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the 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 been studied in the report with the detailed profiles of the key players operating in the market.?Some of these players include Eureka Technology Partners, FitBark Inc., Garmin Ltd., Mars Incorporated, PetPace, Radio Systems Corporation, RAWR Inc, Scollar Inc., Tractive and Wagz Inc.
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