Pet Wearable Market by Competitive Strategy and Growth Factor Report to 2027

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Vertical Farming Market 2021 - Regional Outlook
and Future Growth Insights to 2027

• Pet adoption has significantly increased across
  the globe over the past few years with growing
  awareness regarding animal care and for
  companionship. Various animal and rescue shelters
  are promoting pet adoption using social media
  channels such as Facebook and Instagram. To
  illustrate, social media campaigns like Help A
  Pet Day, National Adoption Weekend and Adopt a
  Shelter Dog Month help in increasing visibility
  of home for pets. Growing adoption of pets is as
  well stimulating investments in smart wearables
  for pets to keep them safe, healthy and
  entertained.
• Considering the heightened adoption of these
  devices, pet wearable market is estimated to
  witness tremendous growth by recording an
  appreciable valuation of around USD 10 billion by
  2027. Speaking of the pet wearable devices, smart
  collars are in huge demand for monitoring and
  tracking their location. Availability of a broad
  range of innovative collars, designed especially
  for cats and dogs is attracting pet owners to
  invest heftily in these products.

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• To illustrate, in 2020, Whistle Labs introduced a
  new product- Whistle FIT designed especially for
  pet health and fitness. According to the company,
  this product is a preventive healthcare tool that
  utilizes its wellness program for dogs and
  enables the pet owners to monitor health
  behaviors, food intake and other activities of
  their pets.

• Besides pet healthcare, wearable devices also
  play an important role in identification and
  tracking of the location of pets and avoid their
  theft. With significant rise in the cases of pet
  thefts, these devices are observing mounting
  adoption. For instance, the UK recorded an
  explosion in dog theft cases since the beginning
  of the pandemic. As per DogLost estimates, there
  has been a 250 rise in dog thefts since March
  2020.

• Such cases have instigated the adoption of more
  sophisticated products such as GPS based tracking
  devices that can offer better safety for pets.
  Using these devices, chances of a pet theft can
  be minimized drastically. GPS-enabled wearables
  allow pet owners to easily track their pets
  location and identify them using their
  smartphones.

• This has urged industry players to develop
  products with more enhanced technology and
  features. For instance, in 2019, Fi launched a
  smart GPS dog collar on low power cell network.
  This technology reportedly alerts the owners of
  lost or escaped dogs and helps them in locating
  them hours before they are picked up by animal
  control or shelter or worse. Such developments
  are supporting the product adoption and further
  stimulating the business expansion.

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• Regional Analysis

• Undoubtedly, the demand for pet wearables is
  strongly driven by increasing rate of pet
  adoption globally with Asia Pacific emerging as a
  robust market for pet wearable industry. Thanks
  to rapid urbanization, growing disposable income
  and rising nuclear families in the region.
  According to the Ministry of Statistics and
  Programme Implementation (India) data, an Indian
  today makes 30 more income as compared to the
  income in FY2014 - 15. This is significantly
  driving the number of pet owners in the region.

• Competitive Analysis

• Key pet wearable market players include DeLaval,
  Inc., PetPace, Ridogulous Labs, Garmin Ltd.,
  FitBark, Invisible Fence, High Tech Pet Products,
  Loc8tor, Whistle Labs, Inc., IceRobotics, Nedap,
  Otto Petcare, Motorola Mobility LLC, Silent
  Herdsman Limited, Dropcam (Nest), Dairymaster,
  Pet Vu, Inc., i4c Innovations, and Tagg.

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