Pet Wearable Market Trends 2024-2028: Smart Collars, GPS Tracking & IoT Innovations

The pet wearable market is projected to grow by USD 3.67 billion at a CAGR of 18.57% from 2023 to 2028. The increasing popularity of pet ownership, particularly among millennials, is driving the demand for advanced pet monitoring and controlling devices. These devices facilitate medical diagnosis and treatment, ensuring the health and safety of pets. The market is further fueled by rising pet adoption rates, leading to increased demand for smart-connected pet collars and harnesses. The growth of e-Commerce and online sales channels is also making these devices more accessible to consumers. However, the market faces challenges due to the presence of unorganized players and counterfeit products. Additionally, pet food companies are integrating wearable technology into their products to enhance customer engagement and provide additional value to pet owners

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Market Segmentation

The market research report provides region-wise segment analysis, including forecasts and estimates in USD billion for 2024-2028, along with historical data from 2018-2022.

By Product

• Smart collar
• Smart camera
• Smart harness and vest

By Application

• Identification and tracking
• Monitoring and control
• Medical diagnosis and treatment
• Facilitation/safety and security

By Geography

• North America
  • US
• Europe
  • Germany
  • UK
  • France
• APAC
  • China
• Middle East and Africa
• South America

By Product Insights

The smart collar segment is expected to experience significant growth during the forecast period. The increasing awareness of pet health and safety is driving demand for pet wearables, particularly smart collars. These devices offer real-time data and advanced features, including cameras, GPS tracking, and wearable sensor systems like photoplethysmographs, which monitor vital signs and provide essential health insights for pet owners.

OEMs in the IoT sector are developing innovative wearable solutions, catering to the needs of both veterinarians and pet owners. The user-friendly design and ease of integration into daily routines make these devices a popular choice among pet owners.

The smart collar segment was valued at USD 546.50 million in 2018 and has shown a gradual increase during the forecast period.

Market Dynamics

Market Driver

The growing pet industry is a key driver of the pet wearables market. In the United States, the industry has witnessed consistent expansion, attracting both established companies and emerging businesses.

• According to the American Pet Products Association, the average American household spends USD 311 annually on pet care.
• Factors such as changing lifestyles, urbanization, and increasing pet adoption rates are driving market growth.
• The rise of dual-income households has influenced purchasing patterns, increasing the demand for pet healthcare and wellness products.

Many companies are leveraging acquisition strategies to expand their offerings, making the pet wearables market a lucrative opportunity.

Market Trends

The growth of e-Commerce and online sales is an emerging trend in the market. The pet wearables industry in the US has significantly benefited from the convenience of online retail platforms.

• E-commerce platforms offer detailed product specifications, customer reviews, and competitive pricing, making it easier for consumers to choose pet wearables.
• The emergence of Direct-to-Consumer (D2C) brands in the pet industry has led to an increase in online sales of these products.
• D2C brands offer innovative solutions directly to consumers, eliminating middlemen and enhancing product accessibility.

Pet owners prioritize pet health and safety, driving demand for wearable technology with advanced data analytics. The expanding e-commerce landscape and evolving consumer preferences will continue to fuel market growth.

Market Challenge

The presence of unorganized players and counterfeit products is a significant challenge affecting market growth. The US market is expanding rapidly, but counterfeit pet wearable devices are increasingly available, particularly in developing countries like China and India.

• These unauthorized products, while cheaper, lack quality and reliability, leading to safety concerns for pet owners.
• Brand reputation and pricing are key differentiators in the market. However, major competitors face intense competition from counterfeit manufacturers.
• Ensuring product authenticity and consumer awareness is critical to maintaining market integrity.

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Key Companies

Companies are adopting strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches to strengthen their presence in the pet wearables market.

• Avid Identification Systems Inc.
• Barking Labs Corp.
• Datamars SA
• Dogtra Co.
• Felcana
• FitBark Inc.
• Garmin Ltd.
• GoPro Inc.
• Loc8tor Ltd.
• Mars Inc.
• Merck and Co. Inc.
• NUM AXES
• Pet Valu Canada Inc.
• PetPace
• Protect Animals With Satellites LLC
• SCOLLAR Inc.
• Smart Tracking Technologies LLC
• Tractive GmbH
• Vandrico Solutions Inc.
• Wagz Inc.

Market players are implementing qualitative and quantitative strategies to enhance their competitive positioning. OEMs continue to develop advanced pet wearable solutions, focusing on innovation and user-friendly designs.

Future Market Insights

The pet wearables market is expected to witness continued growth and technological advancements. Innovations such as wearable sensors, smart collars with LED displays, and GPS tracking will further drive market expansion. The integration of IoT technology in pet wearables is enhancing pet care and communication between pet owners and veterinarians. The rise of e-commerce and D2C brands will contribute to the increased adoption of pet wearables, making them an essential part of pet care and safety.