Pet Wearable Market to grow at 20% CAGR from 2017 to 2024 - PowerPoint PPT Presentation

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Pet Wearable Market to grow at 20% CAGR from 2017 to 2024

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More Information @ Increasing awareness towards pet fitness & health is expected to offer significant prospects for the development of innovative products for the pet wearable market. As owners look to pamper their pets, they will invest more in high-quality activity monitoring products. – PowerPoint PPT presentation

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Title: Pet Wearable Market to grow at 20% CAGR from 2017 to 2024


1
Pet Wearable Market to grow at 20 CAGR from 2017
to 2024 Global Market Insights Inc.
2
Key Insights from Pet Wearable Market
  • The Pet Wearable Market trends are analyzed from
    recent past with an eye on coming years in this
    report that also offers projections for Pet
    Wearable industry targeted at helping in business
    decisions.
  • Pet Wearable Market size is set to exceed USD 8
    billion by 2024 according to a new research
    report by Global Market Insights, Inc. The global
    shipments are forecast to grow at over 25 CAGR
    from 2017 to 2024.
  • The increasing disposable income and growing
    adoption of pets in several households is
    expected to drive the pet wearable market over
    the forecast timeframe. According to American Pet
    Products Association (APPA), over 65 of American
    households own a pet. The owners are increasing
    their spending on smart products that can be
    controlled remotely and monitor their pets
    health and fitness. Moreover, safety is primary
    for the owners while buying product such as
    collars, harness and vest for their pets. This is
    encouraging players to manufacture products that
    are safer for both owners and pets driving the
    high adoption rate. It is estimated that by 2024,
    owners will increase their spending on pets by
    55 in countries such as the U.S., Canada, UK,
    Germany and Australia.

3
Continued...
  • Increasing awareness towards pet fitness health
    is expected to offer significant prospects for
    the development of innovative products for the
    pet wearable market. As owners look to pamper
    their pets, they will invest more in high-quality
    activity monitoring products. Demand for GPS
    based products has witnessed considerable rise
    over the years due to the increase in penetration
    of mapping applications smartphones coupled
    with the growing need for tracking and real-time
    positioning of pets across the globe. In
    addition, service providers have developed
    strategic agreements with application developers,
    smartphone manufacturers, and stores to increase
    the usage of GPS in innovative applications which
    is anticipated to escalate pet wearable market
    size.
  • Smart cameras accounted for more than 25 of the
    overall pet wearable market share in 2016. The
    cameras monitor the pets outdoor activity and
    are help owners to keep track of their pets when
    they are away. Owners buying the smart cameras
    are valuing the interactivity of the products
    which are enabled by its laser toy and two-way
    audio features.

4

Browse Full Market Research Report On Pet
Wearable Market _at_ http//bit.ly/2xNY9EG
Request for a Sample of this Research
Report _at_ https//www.gminsights.com/request-sample
/detail/151
5
Continued...
  • Medical diagnostic tagging accounted for more
    than 30 of the pet wearable market share in
    2016. Medical treatments which use electrics and
    electronics is steadily being adopted to monitor
    cooling, heating, and drug delivery in animals.
    The animals which are most likely to employ
    wearable devices in high volume are controlled by
    humans include dairy cows, horses, cats and dogs
    which is anticipated to increase the global
    volume sales.
  • Asia Pacific pet wearable market is anticipated
    to witness considerable growth owing to cheap
    labor and presence of manufacturing plants in
    countries such as China, and Taiwan. There are
    currently about 300 manufacturers in the pet
    wearable market in the world, with a high
    percentage of them based in China, making very
    basic devices at the lowest price. Increased
    adoption and sales of GPS-based products in the
    region will encourage the industry demand.
  • The players operating in the pet wearable market
    include Dairymaster, DeLaval, Inc., Whistle Labs
    Inc., Nedap N.V., Scollar, Pet Vu Inc., and
    Fitbark, etc. The industry is extremely
    competitive which will lead to consolidation in
    the next seven years.

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U.S. Pet Wearable Market Size, By Product, 2016
2024 (Mn)

7
360 Analysis
  • By Technology
  • The RFID technology dominated the pet wearable
    market in 2016. The rising trend of adopting RFID
    tags for pet and livestock tracking is a key
    factor which is driving the RFID demand. These
    devices are designed for low and ultra-high
    frequencies. The vital applications for RFID are
    in animal tracking, and recording constant
    readings of daily activities.
  • By Application
  • Identification tracking applications accounted
    for more than 40 of the overall pet wearable
    market share in 2016. The demand for wearables in
    this application has mainly been coming from pets
    and dairy animals. RFID devices are aiding in
    safeguarding and managing pets and livestock,
    while certifying reliable RFID tracking
    performance and animal identification.
    Developments in smart devices featuring instant
    tracking through mapping applications is also
    projected to play a key role in the rising
    industry penetration.
  • Competitive Market Share
  • The industry players include Tagg, Dropcam
    (Nest), Whistle Labs Inc., i4c Innovations,
    FitBark, Garmin, High Tech Pet Products,
    Invisible Fence, Ridogulous Labs, Motorola,
    Dairymaster, DeLaval, Inc., Otto Petcare,
    PetPace, Silent Herdsman Limited, Nedap, Loc8tor,
    Pet Vu Inc., and IceRobotics, etc.


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