Pet Wearable Market
Growth Factors of Pet Wearable Market
The pet wearable market size was valued at USD 3.28 billion in 2023, and the market is now projected to grow from USD 3.69 billion in 2024 to USD 10.43 billion by 2032, exhibiting a CAGR of 13.9% during the forecast period of 2024-2032.
The adoption of pets, specifically dogs, during the COVID-19 pandemic grew notably as many people globally started out working remotely and had greater time and a greater preference to take care of their pets. Consequently, there was a growth in demand for those pet devices. The developing inclination toward pets as friends for health, amusement, and mental balance is driving expenditure on pet comfort.
The healthcare area maintains to undertake digital technologies and cutting-edge faraway patient monitoring, a trend that is also remodeling the pet fitness zone. With over six in ten U.S. Households proudly owning at the least one puppy, there may be a massive demand for pet healthcare solutions. With solutions starting from wearable solutions to smart fitness monitoring solutions, puppy proprietors can employ various wearable and non-wearable puppy add-ons to display and tune each element of their pet's health. Various puppy fitness monitoring gadgets consist of smart puppy health trackers, puppy monitoring cameras, smart pet collars, and lots of extra.
The IoT for pets lets in pet owners to remotely reveal, collect health statistics, music hobby, feed, and engage in play with pets even if they're no longer round. In the case of IoT pet tracking solutions, wearable gadgets for pets are the prominently used mechanisms. There are several exclusive types of wearable that can be used for exclusive functions and the demand for these devices is increasing.
Comprehensive Analysis of Pet Wearable Market
The pet wearables market is categorized into RFID, GPS, sensors, and biosensors. RFID technology is the most popular, as it helps animal control workers, vets, pet owners, and caregivers monitor pet health. GPS technology is expected to grow with the highest CAGR, providing 24/7 tracking, real-time analysis, and ambient temperature alerts. The market is divided into smart cameras, smart collars, smart harnesses, and vests. Smart collars account for the highest revenue share and are projected to grow with the highest CAGR due to their high-utility pet applications. The market is classified into identification & tracking, behavior monitoring, facilitation, safety & security, medical diagnosis & treatment, and others.
The North America region lead the pet wearable market share by benefitting a market size of USD 1.10 billion in 2023 due to the essential presence of outstanding marketplace players. The U.S. is the leading country to utilize numerous pet technologies, which includes RFID and GPS, for monitoring animals' actions and location. Additionally, the rising Pet tech spending throughout the U.S. And Canada contribute to the pet wearable market growth.
Major market players like Whistle, PetPace, FIT BARK, Garmin, DOGTRA, Loc8tor, Datamars, Wagz Inc., Tractive, and Avid Identification Systems are focusing on offering advanced wearable devices for pets, driven by IoT-based solutions, AI, and data analytics. They are intensifying their product portfolio through product launches, portfolio enhancements, and global collaborations. Key companies include Whistle, PetPace, FIT BARK, Garmin, DOGTRA, Loc8tor, Datamars, Wagz Inc., Tractive, and Avid Identification Systems.
May 2024: PetPace announced the Animal Alerts mission aimed at developing an earthquake alert system empowered by means of PetPace. With the help of the PetPace smart collar, fitness insights are accumulated and tested for capability correlations with earthquakes, with the goal of growing a gadget to notify citizens thru diverse media channels.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 13.9% from 2024 to 2032
Unit Value (USD Billion)
Segmentation By Technology
- RFID (Radio Frequency Identification)
- GPS
- Sensors
- Others (Biosensors)
By Application
- Identification & tracking
- Behavior monitoring
- Facilitation, safety & security
- Medical diagnosis & treatment
- Others (Fitness monitoring)
By Device Type
- Smart Camera
- Smart Collar
- Smart Harness and Vest
- Others (Other Tracking Devices)
By Region
- North America (By Technology, Application, Device Type, and Country)
- U.S. (By Application)
- Canada (By Application)
- Mexico (By Application)
- Europe (By Technology, Application, Device Type, and Country)
- Germany (By Application)
- U.K. (By Application)
- France (By Application)
- Italy (By Application)
- Spain (By Application)
- Russia (By Application)
- Benelux (By Application)
- Nordics (By Application)
- Rest of Europe
- Asia Pacific (By Technology, Application, Device Type, and Country)
- China (By Application)
- India (By Application)
- Japan (By Application)
- South Korea (By Application)
- ASEAN (By Application)
- Oceania (By Application)
- Rest of Asia Pacific
- Middle East & Africa (By Technology, Application, Device Type, and Country)
- Turkey (By Application)
- Israel (By Application)
- GCC (By Application)
- North Africa (By Application)
- South Africa (By Application)
- Rest of the Middle East & Africa
- South America (By Technology, Application, Device Type, and Country)
- Brazil (By Application)
- Argentina (By Application)
- Rest of South America
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