Industry Outlook and Trend Analysis
The Pet
Wearable Market was worth USD 0.78 billion in 2014 and is expected to
reach approximately USD 4.02 billion by 2023, while registering itself at a
compound annual growth rate (CAGR) of 19.92% during the forecast period. The
business has seen impressive development attributable to the expanding
awareness among the proprietors about pet well-being. In addition, expanding
attachment of consumers with their pets for companionship, fitness,
entertainment and mental wellbeing has brought about more spending by them on
their companion than earlier which is expected to boost the market development.
Pet wearable is likewise one of the cases of wearable innovation for personal
use. This innovation encourages people to associate with their pets and track
their daily exercises.
Competitive Insights
The leading players in the
market are Tractive, PetPace LLC, Whistle, Garmin International Inc, FitBark
and i4C Innovations. The major players in the market are profiled in detail in
view of qualities, for example, company portfolio, business strategies,
financial overview, recent developments, and share of the overall industry.
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Technology Outlook and Trend Analysis
The demand for GPS based pet
wearable is anticipated to develop at a significant CAGR over the estimate time
frame. GPS tracking devices are increasing expanding prominence. Interest for
two-way correspondence for pet tracking devices, which focuses on integrated
devices and programming stages offered by key industry members is foreseen to
draw the attention of consumers. The RFID technology segment represented the
biggest share of the market in 2016.
The Pet Wearable Market is
segmented as follows-
By Technology:
GPS
RFID
Sensors
By Application:
Behaviour monitoring & control
Medical diagnosis & treatment
Identification & tracking
Facilitation, safety & security
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By Region
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Russia
Italy
Rest of Europe
Asia-Pacific
China
Japan
South Korea
India
Southeast Asia
Rest of Asia-Pacific
South America
Brazil
Argentina
Columbia
South Africa
Rest of South America
Middle East and Africa
Saudi Arabia
UAE
Egypt
Nigeria
South Africa
Rest of MEA
Some of the key questions answered by the report are:
What was the market size in 2014
and forecast from 2015 to 2023?
What will be the industry market
growth from 2015 to 2023?
What are the major drivers,
restraints, opportunities, challenges, and industry trends and their impact on
the market forecast?
What are the major segments leading
the market growth and why?
Which are the leading players in
the market and what are the major strategies adopted by them to sustain the
market competition?
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