Pet Wearable Market Dynamics, Forecast, Analysis and Supply Demand 2021 – 2027
Category: #business  By Rahul Varpe  Date: 2021-08-02
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Pet Wearable Market Dynamics, Forecast, Analysis and Supply Demand 2021 – 2027

How rising concerns regarding pet health & safety is fostering pet wearable market size by 2026?

Through rising concerns pertaining to the health & safety of pets and increasing spending on identification & tracking devices, the pet wearable market is projected to register tremendous growth over the upcoming time period. The growing IoT trend has led to the integration of tablets, smartphones, and laptops with these devices, boosting the market growth.

In 2017, reliable sources assessed that nearly 55% dogs and 60% cats in the United States were obese. Additionally, estimates also reported that nearly 10 million cats as well as dogs are lost or even stolen across the U.S. every year.

With the integration of innovative technologies like IoT, AI, and GPS-enabled trackers, the pet wearables devices have enabled pet owners to monitor the pet health data collected by these devices, based upon the eating habits, sleeping patterns, and respiratory rhythm. This has further helped the pet owners to add a security layer through GPS or other tracking systems.

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Notably, Otto Petcare, Tagg, DeLaval, Inc., Nedap, Dropcam (Nest), Invisible Fence, Ridogulous Labs, Whistle Labs, Inc., FitBark, Motorola, i4c innovations, IceRobotics, PetPace, Garmin, Pet Vu, Inc., and Loc8tor are some of the key players operating in the pet wearables market.

A report by Global Market Insights, Inc., estimates that the pet wearable market is expected to surpass a valuation of $12 billion by 2026.

How will smart vest devices help augment pet wearable market size?

The smart vest devices segment is likely to observe a high demand among pet owners through the analysis timeframe. These smart vests are fitted with several hidden sensors and cameras, in order to ensure that the animal wearing the vest is safe. Furthermore, the technology is able of stream videos live when the dog barks.

In fact, this product feature has led to the use of such devices in stray animals like dogs for ensuring safety and security. For example, in the year 2017 in March, stray dogs across Thailand were fitted with smart vests so as to protect the streets as well as the dogs by spotting unfamiliar strangers as well as other similar dangers.  

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Which application segment is anticipated to showcase momentous growth over the forecast timeframe?

The identification & tracking application segment of is set to observe a immense demand in the forthcoming years. This growth can be ascribed to the high number of lost pet cases, which has led to the adoption of several technologically advanced pet animal tracking devices. According to Pet Found by Internet, nearly 2 million pet animals are stolen each year on a global level. The integration of RFID tech inside pet wearables leads to the detection of pets by injecting a microchip tracker under the pet’s skin.

How will the commercial end-user segment impel pet wearable market outlook?

The commercial pet wearables end-use segment is likely to fuel high demand due to the ongoing development of modernized farming practices. The devices are majorly adopted for monitoring and tracking livestock so as to identify issues pertaining to health.

The health monitoring capability further helps in training of animals by increasing the performance and by lowering the risks of injury. Several manufacturers are also developing devices in order to help farmers in tracking of health metrics like temperature, respiratory rate, blood pressure, and heart rate. In fact, back in April 2019, Fitbit, unveiled EquiVi, which is a wearable designed specifically for horses, to offer vital sign metrics in real-time, which includes cardiovascular health.

Which key determinant would facilitate growth of pet wearable market in Latin America?

The pet owners throughout Latin America are concentrating on the safety as well as security of their pets. This is subsequenly expected to fuel the demand for wearables, specifically the ones having live positioning and GPS functionality. Moreover, rising number of pet desertion cases across the region have increased awareness and helped introduce stringent rules concerning pet safety.

Citing an instance, Peru executed efforts which included placement of chip for search of lost pets along with a registry created specifically for dogs. This has further boosted the adoption of wearables devices across Latin America, specially in Peru and Argentina.

Table Of Content

Chapter 1   Methodology and Scope

1.1    Scope & definitions

1.2    Methodology & forecast parameters

1.3    COVID-19 impact

1.3.1    North America

1.3.2    Europe

1.3.3    Asia Pacific

1.3.4    Latin America

1.3.5    MEA

1.4    Data sources

1.4.1    Secondary

1.4.2    Primary

Chapter 2   Executive Summary

2.1    Pet wearable industry 360° synopsis, 2017 – 2027

2.1.1    Business trends

2.1.2    Regional trends

2.1.3    Product trends

2.1.4    Technology trends

2.1.5    Application trends

2.1.6    End-use trends

Chapter 3   Pet Wearable Industry Insights

3.1    Industry segmentation

3.2    Impact of coronavirus (COVID-19) pandemic

3.2.1    Global outlook

3.2.2    Regional outlook

3.2.2.1    North America

3.2.2.2    Europe

3.2.2.3    Asia Pacific

3.2.2.4    Latin America

3.2.2.5    MEA

3.2.3    Industry value chain

3.2.3.1    Research and development

3.2.3.2    Marketing

3.2.3.3    Supply

3.2.4    Competitive landscape

3.2.4.1    Strategy

3.2.4.2    Distribution network

3.2.4.3    Business growth

3.3    Industry ecosystem analysis

3.3.1    Raw material suppliers

3.3.2    Component suppliers

3.3.3    Manufacturers

3.3.4    Technology providers

3.3.5    Software/cloud providers

3.3.6    System Integrators

3.3.7    Service providers

3.3.8    Distributors

3.3.9    Vendor matrix

3.3.9.1    Raw material suppliers

3.3.9.2    Component suppliers

3.3.9.3    Manufacturers

3.3.9.4    Technology providers

3.3.9.5    Software/cloud providers

3.3.9.6    System Integrators

3.3.9.7    Service providers

3.3.9.8    Distributors

3.4    Technology & innovation landscape

3.5    Number of pets, by region, 2020

3.5.1    North America

3.5.2    Europe

3.5.3    Asia Pacific

3.5.4    Latin America

3.5.5    MEA

3.6    Regulatory landscape

3.6.1    North America

3.6.2    Europe

3.6.3    Asia Pacific

3.6.4    Latin America

3.6.5    MEA

3.7    Price trend analysis, 2017 – 2027

3.7.1    By product

3.7.2    By region

3.8    Industry impact forces

3.8.1    Growth drivers

3.8.1.1    Increasing awareness for pet's mental and physical fitness

3.8.1.2    Rise in adoption of rescue pets by millennials in Asia Pacific

3.8.1.3    Growing demand for remote monitoring & tracking of pets in the U.S. and Europe

3.8.1.4    Rise in number of pet tech start-up companies in Europe

3.8.1.5    Urbanization and rise in popularity of pets in Latin America and MEA

3.8.2    Industry pitfalls & challenges

3.8.2.1    Power consumption and short battery life of devices

3.8.2.2    Lack of public awareness

3.9    Growth potential analysis

3.10    Porter's analysis

3.10.1    Supplier power

3.10.2    Buyer power

3.10.3    Threat of new entrants

3.10.4    Threat of substitutes

3.10.5    Internal rivalry

3.11    PESTEL analysis

3.11.1    Political

3.11.2    Economical

3.11.3    Social

3.11.4    Technological

3.11.5    Environmental

3.11.6    Legal

 
 

 

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About Author

Rahul Varpe

Rahul Varpe    

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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