Pet Wearable Market : Global Size, Share, Trends, Growth and Forecast Year ( 2023 – 2032 )
The global pet wearable market accounted for USD 1.2 Billion in 2019. Further, the market is expected to reach to a valuation of USD 3.9 Billion by the end of 2025. Moreover, it is anticipated to flourish at a CAGR of 14.7% during the forecast period i.e. 2020-2025.
Growth Drivers – Pet Wearable Market
Increasing Pet Ownership
Increase in the number of companion animal ownership is the major factor which is impelling the growth of pet wearable market. According to the American Pet Products Association's, 67% of United States households own a pet. This is up from 56% of households in 1988. This rising ownership is anticipated to positively impact the growth of the global pet wearable market.
Several health benefits of pet ownership such as less stress and high physiological stability and animal-assisted therapies are strengthening the bond between the pet and their owners. Moreover, this loving bond has led to increased spending on pets which is boosting the growth of pet veterinary drugs market. According to the American Pet Products Association, total U.S. pet industry expenditure increased from USD 48.4 Billion in 2010 to USD 75.4 Billion in 2019.
Several pets are suffering from obesity and overweight issues. According to the Association for Pet Obesity Prevention (APOP) 2018 survey result, 33.8% of cats and 18.9% of dogs were found as obese in 2018. Furthermore, rising awareness about the pet’s physical and mental fitness with rising disposable income in developed countries is anticipated to positively impact the growth of pet wearable market.
The research offers a comprehensive analysis of pet wearable market with respect to the following sub-markets:
By technology, the pet wearable market has been analyzed into RFID, GPS, sensors, others. RFID segment captured a significant portion of market share in 2019.
By Pet Type
Based on pet type, the pet wearable market is segmented into dog, cat and others. An increasing number of ownership of dogs, cats and other pets is anticipated to impel the growth of pet wearable market.
On the basis of product, the pet wearable market has been segmented into GPS trackers, wearable cameras, fitness/activity trackers, smart collars, smart harness and others. The smart collar is expected to be the largest contributor in the overall pet wearable market during the forecast period.
By end-use, the pet wearable market has been segregated into household and commercials.
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
- Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)
The report profiles various major market players such as
- Garmin Ltd.
- Iotera Inc.
- Whistle Labs, Inc.
- Other Major & Niche Players
Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by segment and by geography, SWOT Analysis, risk analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development expansion and other market activities.
The study also provides a company’s positioning and market share in Pet Wearable market.
Timeline Considered for Analysis:
• 2019- Base Year
• 2020 – Estimated Year
• 2020 to 2025 – Forecasted Year
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the global Pet Wearable market by the following segments:
Geographic Market Analysis:
The report offers separate analysis of North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In addition, further breakdown of market data and analysis of region into countries is covered in the report.
Customization: We also offers customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Pet Wearable Industry Report
- What is the overall market size in 2019? What will be the market growth during the forecast period i.e. 2019-2025?
- Which region would have a high demand for a product in the upcoming years?
- What are the factors driving the growth of the market?
- Which sub-market will make the most significant contribution to the market?
- What are the market opportunities for existing and entry-level players?
- What are various long-term and short-term strategies adopted by the market players?