Pet Wearables Market

Introduction of the Pet Wearables Market Report

Pet wearables are the devices that can be worn on the pet’s body to serve various functions, which include tracking, identification, monitoring, medical diagnosis, controlling, facilitation, security, and safety. These devices are primarily smart trackers and monitors installed in small gadgets.

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Market Dynamic

Key Drivers and Emerging Trends

The key factor propelling the growth of the global pet wearables market is technological advancements in communication and sensor technologies. Furthermore, the growing expenditure on pets due to the increasing disposable income in developing nations is another factor driving the growth. There has been rapid adoption of wearable technology attributed to its variety of applications, such as monitoring behavior, identifying & tracking, diagnosing medical problems, and safety & security of pets. These devices help pet owners to track the daily activities of their pets. Moreover, the incorporation of several technologies, which include radio frequency identification (RFID) and GPS for improving the quality of life of companion animals, is another factor which is significantly bolstering the growth of the global pet wearable market. Furthermore, there has been a swift inclination towards the adoption of pets as companions for fitness, entertainment, and mental stability, which has increased the expenditure on the well-being of pets. In addition, wearable technology allows the pet owner to monitor the health of their pets as it generates data for heart rate, respiratory rate, and food intake. These factors are substantially augmenting the growth of the global pet wearable market.

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Technology – Segment Analysis

Based on the technology, the RFID segment is expected to grow at a higher CAGR over the forecast period. The use of RFID provides higher productivity, transparency, reliability, and accuracy in the identification & tracking of pets. RFID-based pet wearable devices are used with integrated sensors to track health-related parameters continuously and accurately, which include pulse, respiration, body temperature, positions, heart rate variability (HRV), and calorie intake. In addition, RFID wearables that are Wi-Fi enabled are gaining more adoption as they are used for location-based services to track a user’s location at all times. These factors are likely to boost the growth of the RFID segment in the global pet wearables market.

Application – Segment Analysis

On the basis of the application, the identification & tracking segment is anticipated to grow at a faster CAGR over the forecast period. This is majorly attributed to the factor that with the help of wearables, people can identify strayed off pets and return them to their owners. One of the most common uses of pet wearables like smart collars is tracking the whereabouts of pets with the use of GPS. Moreover, it enables owners to track the location of their pet animals in real-time by using their smartphones. These features are contributing to the growth of the identification & tracking segment in the global pet wearable market.

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Region – Segment Analysis

Based on the region, the North America region is projected to grow at a higher CAGR during the forecast period. This is mainly due to the high disposable income, increasing adoption of companion animals, and the growing per capita animal healthcare expenditure. For instance, according to the American Pet Products Association (APPA), around 85 million homes own a pet in the US in 2019. These factors play a significant role in supplementing the growth of the pet wearable market in North America. 

Top Market Players

Various notable players operating in the market include Avid Identification Systems, Inc., SCR Engineers LTD., Fitbark, Datamars, Intervet International B.V., Garmin Ltd., Invisible Fence, Loc8tor Ltd., Link My Pet, and PetPace LLC, among others.

Key Developments

• • In 2018, Fitbark, a leading manufacturer of wireless dog activity monitor devices, announced its collaboration with Fitbit. This partnership allows Fitbit users to track both their pets and their goal and stats, which include calories burned, distance walked, among others, through their Fitbit devices. 

Segments covered in the Report:

The global pet wearables market has been segmented on the basis of technology, application, and regions. Based on technology, the market is segmented into RFID devices, GPS, Bluetooth, and others. Based on application, the market is segmented into medical diagnosis & treatment, identification & tracking, behavior monitoring & control, and fitness monitoring. 

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Key questions answered in this research report:

• • At what pace is global pet wearable market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in pet wearable market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global pet wearable market?
  • Which technology generated maximum revenues in 2019 and identify the most promising technology during the forecast period?
  • What are the various application areas of global pet wearable market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Technology, By Application, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Avid Identification Systems, Inc., SCR Engineers LTD., Fitbark, Datamars, Intervet International B.V., Garmin Ltd., Invisible Fence, Loc8tor Ltd., Link My Pet, PetPace LLC, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Pet Wearable Market by Technology

• • RFID Devices
  • GPS
  • Bluetooth
  • Others

Global Pet Wearable Market by Application

• • Medical Diagnosis & Treatment
  • Identification & Tracking
  • Behavior Monitoring & Control
  • Fitness Monitoring

Global Pet Wearables Market by Region

• • North America Pet Wearables Market (Option 1: As a part of the free 25% customization)
    • North America Market by Technology
    • North America Market by Application
    • US Market All-Up
    • Canada Market All-Up
  • Europe Pet Wearables Market (Option 2: As a part of the free 25% customization)
    • Europe Market by Technology
    • Europe Market by Application
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Pet Wearables Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Market by Technology
    • Asia-Pacific Market by Application
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Pet Wearables Market (Option 4: As a part of the free 25% customization)
    • RoW Market by Technology
    • RoW Market by Application
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Pet Wearable (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Avid Identification Systems, Inc.
  • SCR Engineers LTD.
  • Fitbark
  • Datamars
  • Intervet International B.V.
  • Garmin Ltd.
  • Invisible Fence
  • Loc8tor Ltd.
  • Link My Pet
  • PetPace LLC