SHERIDAN, WY, USA, August 9, 2022 /EINPresswire.com/ — According to IMARC Group’s latest report, titled “Pet Wearable Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global pet wearable market size reached US$1.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$3.8 Billion by 2027, exhibiting a growth rate (CAGR) of 14.07% during 2022-2027.
Industry Overview and Application:
Pet wearable represents devices used by pet parents to monitor the biomechanical and psychological activities of their pets. They can be categorized into smart collars, vests, harnesses, cameras, etc. These pet wearable products are manufactured utilizing various advanced technologies, including radio-frequency identification (RFID), global positioning system (GPS), internet of things (IoT), trackers, Bluetooth sensors, cameras, transmitters, antennas, etc. They ensure the safety of the pets by recording several health metrics, such as respiration, pulse, body temperature, calories burnt, food intake, rest patterns, heart rate variability (HRV) , etc. Pet wearable equipment can even assist veterinary doctors in providing adequate treatment for illnesses. Consequently, they are in high demand among pet owners across countries.
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Pet Wearable Market Trends:
The emerging practice of pet humanization and the rising cases of lost and stolen pets are primarily driving the pet wearable market. Additionally, the development of Wi-Fi-enabled RFID devices that offer controlled monitoring of pets remotely is acting as another significant growth-inducing factor. Moreover, the increasing focus among the leading market players towards incorporating cloud-based and data analytics services in their products that will allow pet owners to store medical records on the cloud and set reminders or goals is also positively influencing the market growth. Besides this, the growing livestock production and the elevating need for improved monitoring devices in this industry are expected to propel the pet wearable market in the coming years.
Pet Wearable Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the pet wearable market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
• Cybortra Technology Co. Ltd.
• FitBark Inc.
• Garmin Ltd.
• High Tech Pet Products Inc.
• Invisible Fence Inc. (Radio Systems Corporation)
• Loc8tor Ltd.
• Motorola (Lenovo)
• PetPace Ltd.
• Whistle Labs Inc. (Mars Inc.)
Key Market Segmentation:
The report has segmented the global pet wearable market on the basis of product, technology, application, end-user, distribution channel and region.
Breakup by Product:
• Smart Collar
• Smart Vest
• Smart Harness
• Smart Camera
Breakup by Technology:
Breakup by Application:
• Identification and Tracking
• Monitoring and Control
• Medical Diagnosis and Treatment
• Facilitation, Safety and Security
Breakup by End User:
Breakup by Distribution Channel:
• Modern Trade
• Franchised Outlets
• Specialty Stores
Breakup by Region:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
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Key Highlights of the Report:
• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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