The global Pet Wearable market was valued at USD 1,330.6 million in 2017 and is anticipated to grow at a CAGR of 13.7% during the forecast period. Pet wearable devices are devices capable of monitoring health statistics, tracking & surveillance, and analyzing sleep patterns of pets. These devices are synced with apps available on smart phones to notify owners. Pet wearable devices can be controlled remotely, and offer enhanced safety of pets. Pet wearable devices include smart cameras, smart collars, smart vests, and smart harnesses among others. These devices offer fitness monitoring, identification and tracking, behavior monitoring, and medical diagnosis among others.
The major driving factors of the market include growing adoption of pets in households, and growing awareness regarding pet fitness. Growing penetration of mobile devices coupled with increasing awareness regarding pet care would further accelerate market growth. Increase in disposable income, and improving living standards are factors supporting market growth. Other factors driving the growth of this market include increasing need of monitoring pets for medical reasons, and tracking of endangered species. The increasing advancements in technologies, growing use of mapping software, and rising adoption of IOT further supplement the growth of this market. Expansion of established companies into emerging economies and increase sales of pet wearable through online channels would provide numerous growth opportunities in the market.
The global Pet Wearable market is segmented on the basis of product, technology, application, and geography. Based on the type of product, the market is segmented into smart collar, smart camera, smart harness, and others. The technology segment is categorized into RFID, Sensors, Bluetooth, GPS, and others. The applications covered in this report include medical diagnosis, identification and tracking, safety and security, behavior monitoring & control, and others. This report comprises a detailed geographic distribution of the market across North America, Europe, APAC, Latin America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific. North America accounted for the largest share in the global Pet Wearable in 2017.
The leading players in the market include DogTelligent, Garmin Ltd., GoPro, Dairymaster, Fitbark, IceRobotics, Loc8tor, PetPace LLC, Whistle Labs LLC, Otto Petcare, DeLaval, i4C Innovations among others. These vendors in the market are launching new products to meet the growing customer needs. In addition, the leaders in the market are acquiring and collaborating with top companies in the market to enhance their offerings in the market and expand their customer base.