Smart Connected Pet Collar Market

Smart Connected Pet Collar Market Size:

The global smart connected pet collar market size reached US$ 492.3 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 915.8 Million by 2032, exhibiting a growth rate (CAGR) of 6.9% during 2024-2032. The emerging technological advancements in IoT and connectivity, growing pet ownership and spending on pet care, and increasing awareness and concern for pet health and safety are contributing to the market growth.

Smart Connected Pet Collar Market Analysis:

• Major Market Drivers: Increasing pet ownership rates and growing concerns for pet health and safety are driving the smart-connected pet collar market growth. Technological advancements in IoT, GPS, and health monitoring sensors are driving innovation, enhancing the functionality of smart pet collars and expanding their appeal to pet owners.
• Key Market Trends: Integration of advanced features such as real-time location tracking, activity monitoring, and health analytics into smart pet collars is a prominent trend. Customization options, including personalized settings for individual pets and seamless integration with smartphones and other devices, are gaining popularity among consumers.
• Geographical Trends: The developed regions such as North America and Europe are leading the adoption of smart connected pet collars due to the rising disposable incomes and greater awareness of pet health and wellness. Moreover, the emerging markets in Asia-Pacific and Latin America are witnessing rapid growth due to increasing urbanization, rising middle-class populations, and a growing affinity for pet companionship.
• Competitive Landscape: Some of the major market players in the smart connected pet collar industry include Eureka Technology Partners, FitBark Inc., Garmin Ltd., Mars Incorporated, PetPace, Radio Systems Corporation, RAWR Inc, Scollar Inc., Tractive, and Wagz Inc among many others.
• Challenges and Opportunities: Some of the challenges are related to concerns about data privacy and security and the necessity to develop interoperable solutions that may work with various brands and platforms of the pet collar. Apart from this, opportunities are further diversification of offerings related to particular pet needs, focusing on the creation of personalized health monitoring that takes into account pet breeds, thus creating comprehensive solutions.Top of Form It is also vital to understand the smart connected pet collar market overview for numerous opportunities.
   

Smart Connected Pet Collar Market Trends:

Increasing Pet Ownership and Spending on Pet Care

Pet ownership has been on the rise across the world and is responsible for driving up the cost of care. More individuals and families are adopting pets and spending more on food, health care, grooming, and other accessories. This has been caused by the strengthening of the emotional relationship between the owners and their pets as they consider them part of the family. As per the data based on the smart connected pet collar market research by the American Pet Products Association (APPA), about 66% of U.S. households, or about 86.9 million homes, own a pet in 2023-2024. In 2023, $147 billion was spent on pets in the U.S. and $150.6 billion is projected in the U.S. As pet ownership increases, so does spending on pet care and products such as smart-connected pet collars.

Technological Advancements in IoT and Connectivity

The integration of Internet of Things (IoT) technologies in pet accessories are significantly propelling the market expansion. IoT enables these devices to provide continuous monitoring, real-time updates, and data insights about a pet's activity, health, and location. As per the IMARC GROUP, the global pet wearable market reached US$ 2.3 Billion in 2023 which is projected to reach US$6.5 Billion by 2032 with a compound annual growth rate (CAGR) of 12% during 2024-2032. For instance, features enabled by IoT, such as geofencing, activity tracking, and temperature alerts, are becoming increasingly sophisticated and reliable, which is further propelling the smart connected pet collar market demand.

Growing Awareness and Concern for Pet Health and Safety

The increasing need for pet owners concerning the health and safety of their pets is driving the product demand. These devices measure vital health indications like heart rate, temperature, and activity levels, and also make recommendations for improving pet’s health. Individuals are more likely to invest in technologies that help them measure and manage their companion's good health. According to a survey by the American Veterinary Medical Association (AVMA), 88% of pet owners believe that the best care comes from veterinarians physically examining their pets and having face-to-face discussions. Consequently, individuals are investing in animals’ health and safety devices which is accelerating the smart connected pet collar market price.

Smart Connected Pet Collar Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on pet type, application, and sales channel.

Breakup by Pet Type:

• Cat 
• Dog
   

Dog accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the pet type. This includes cat and dog. According to the report, dog represented the largest segment.

Dogs are one of the most popular pets worldwide, with high ownership rates in many regions. As a result, there is a larger market for products targeting dog owners, including smart connected pet collars. Consequently, there is a growing need for smart connected pet collars for dogs. These collars, specially created for dog owners’ use, provide global positioning system tracking, health monitoring, and activity tracking, among other features. The target group’s high population of household pets has driven the market up, which correlates with the rising concern for their health and general living conditions.

Currently, numerous key players are investing in advanced technologies to meet consumers' needs. For instance, in March 2024, PetPace introduced PetPace 2.0, which is the only Vet-grade AI-powered pet collar that enhances the health and quality of pet lives via remote monitoring, which is clinically backed by various studies and endorsed by main universities. It also offers continuous life-saving medical insights for vets, pet owners, and researchers thus creating smart connected pet collar market opportunities.

Breakup by Application:

• GPS Location Monitoring
• Activity and Health Monitoring
• Multi-purpose Monitoring
• Others
   

GPS location monitoring holds the largest share of the industry

A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes GPS location monitoring, activity and health monitoring, multi-purpose monitoring, and others. According to the report, GPS location monitoring accounted for the largest market share.

GPS location monitoring meets the primary need of pet owners by tracking their pets’ safety and location. Since GPS has become available in pet collars, it allows pet owner to always know their pets’ whereabouts and also recover them when they go missing. The smart connected pet collar market statistics reveal a notable growth trajectory due to the emergence of health and activity monitors. It allows pet owners to monitor their pets’ vital signs, activity trends, and overall health from afar. It also appeals to owners who prefer to deal with health issues proactively and want to monitor their pets' health indicators. Apart from this, smart collars with sensors and training capabilities allow the owner to control and level the pet’s unwanted behavior and reinforce good behavior. For instance, Whistleintroduced a whistle-switch smart collar for pets that helps monitor their pet’s exact location. It features GPS tracking, two interchangeable batteries for 24/7 tracking, switchable collar styles, which is waterproof up to 6 ft, and comes with a six-month device warranty period.

Breakup by Sales Channel:

• Offline
• Online
   

Offline represents the leading market segment 

The report has provided a detailed breakup and analysis of the market based on the sales channel. This includes offline and online. According to the report, offline represented the largest segment.

Offline sales channels include brick-and-mortar pet stores, veterinary clinics, and specialty retailers. Such outlets create the opportunity for pet owners to engage in in-person shopping and inspection of the collar’s quality, coupled with assistance from knowledgeable store employees, thus generating high smart connected pet collar market revenue. Offline sales channels are popular with customers due to the fast delivery and the ability to inspect the collar before purchase, creating bonding and confidence. In addition, the offline channel extends customer service to fit the collar, in-store promotions, and other value-adding experiences. As such, pet owners are assured of efficient acquisition and convenience. As per the survey by the American Veterinary Medical Association (AVMA), 79% of individuals prefer that a veterinarian supervise their pet’s care. Hence, they prefer buying products from their recommended stores.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

North America leads the market, accounting for the largest smart-connected pet collar market share

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America represents the largest regional market for smart-connected pet collars.

North America due to the established infrastructure and high rate of pet ownership across the region is dominating the market growth. The smart connected pet collar market outlook offers a well-developed pet care culture and a growing interest in pet health and safety in the region. The need for continuous pet safety awareness, which is facilitated via products such as smart pet collars, further increases its usage across the region. North America is home to some of the richest countries globally, which facilitates the purchase of most technology-related products across the region. For instance, in February 2022, Garmin International, Inc., a unit of Garmin Ltd. unveiled their newest dog tracking collars, the TT™ 15X and T 5X which offer up to 80 hours of use from a single charge.

Competitive Landscape:

• The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the major market players in the smart connected pet collar industry include Eureka Technology Partners, FitBark Inc., Garmin Ltd., Mars Incorporated, PetPace, Radio Systems Corporation, RAWR Inc, Scollar Inc., Tractive, Wagz Inc, etc.
  
  (Please note that this is only a partial list of the key players, and the complete list is provided in the report.)
   
• The key players identified in the smart connected pet collar expanding economy striving for continuous innovation to lead the economy and adapt to the changing requirements of pet owners. The smart connected pet collar market forecast indicates a strategic focus among central market leaders to increase the functionality and add-on features in smart collars to serve as one-stop solutions for tracking and safeguarding a pet. They are investing heavily in research and development (R&D) to equip AI, machine learning (ML), and sensor network IoT technology in the pet collar. For instance, in October 2023, Tractive, a leading leader in GPS tracking for cats and dogs, unveiled a new product Tractive DOG XL Adventure Editon, for its line of pet trackers.

Smart Connected Pet Collar Market News:

• In 2023, Invoxia introduced the Invoxia Smart Dog Collar, the first biometric global positioning system (GPS) pet collar, Minitailz. It represents a significant advancement in this technology by shrinking its sensors to suit dogs of all sizes and, notably, cats as well. Additionally, it offers enhanced accuracy and sophisticated biometrics, leveraging a substantial leap forward in AI capabilities fueled by expanded data accessibility.
• February 2024, Strava, a prominent digital community for active individuals with 120+ athletes introduced a new partnership with Fi, the connected dog collar and health platform as a celebration of Walk Your Dog Day.

Smart Connected Pet Collar Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the smart connected pet collar market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global smart connected pet collar market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the smart connected pet collar industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.