According to the latest report by IMARC Group, titled “Pet Wearable Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global pet wearable market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 13% during 2021-2026.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.
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Pet wearables refer to devices that comprise sensors to monitor various activities of pets. Some of the most commonly used wearable products include smart vest, collar and harness that are integrated with numerous advanced technologies, such as global positioning system (GPS) and radio-frequency identification (RFID). Apart from being used by pet parents for tracking, identification and controlling the movement of their pets, these devices are used to record their health metrics, including pulse, respiration, food intake, body temperature and rest patterns, that assist in efficient medical diagnosis and treatment.
Market Trends and Drivers:
The pet wearable market is primarily driven by the rising trend of pet humanization across the globe. This, coupled with the inflating disposable income levels of individuals, has led numerous pet owners to adopt these wearables to monitor the well-being of their pets. There has also been an increasing need to track their real-time location due to the rising cases of lost and stolen pets, thereby creating an escalating demand for advanced pet wearables that are equipped with GPS and Wi-Fi-enabled RFID technology. These variants are widely being integrated with cloud-based and data analytics solutions to offer innovative feature to the users. This, in turn, is creating a positive outlook for the market further.
Pet Wearable Market 2021-2026 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:
- PetPace Ltd.
- FitBark Inc.
- Motorola (Lenovo)
- Whistle Labs Inc. (Mars Inc.)
- Cybortra Technology Co. Ltd.
- Garmin Ltd.
- High Tech Pet Products Inc.
- Loc8tor Ltd.
- Invisible Fence Inc. (Radio Systems Corporation)
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 (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- 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.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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