Latest News- Pet Wearable Market: Smart collar is expected to lead the Product segment during 2024-2028

The Pet Wearable Market is being driven by Growing pet industry

The Pet Wearable Market is expected to grow at a CAGR of 18.57% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 3669.3 million. The e-commerce sector's expansion and the proliferation of online pet stores have revolutionized pet care product and service accessibility for consumers. Detailed product descriptions, specifications, and customer reviews on e-commerce platforms enable informed purchasing decisions regarding pet wearables' quality and functionality. The emergence of direct-to-consumer (D2C) brands in the pet industry has significantly increased online sales of innovative and unique pet wearables. As e-commerce continues to thrive and consumer behavior shifts towards online shopping, the demand for pet wearables is expected to surge, fueling the expansion of the global market in focus throughout the forecast period. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Smart collar
  • Smart camera
  • Smart harness and vest
• Application
  • Identification and tracking
  • Monitoring and control
  • Medical diagnosis and treatment
  • Facilitation/safety and security
• Technology Type
  • RFID
  • GPS
  • Sensors
  • Health Monitoring
  • Location Tracking
  • Behavior Analysis
  • RFID
  • GPS
  • Sensors
• Animal Type
  • Dog
  • Cat
  • Other
  • Dog
  • Cat
  • Other
• Geography
  • North America
    • Canada
    • Mexico
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Middle East and Africa
  • South America
    • Brazil

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growing pet industry
• Product innovation and launch
• Rising pet owner population

However, the market also witnesses some limitations, which are as follows:

• Presence of unorganized players and availability of counterfeit products
• Low penetration pet wearable in developing countries
• Increasing evidence of product recalls

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Market Scope in Pet Wearable Market Research Report

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Research Analysis Overview

The Pet Wearable Market is witnessing significant growth with the integration of microchips in smart tags, enabling remote monitoring and voice commands through artificial intelligence and machine learning. Personalized pet care is a priority, with wearable charging, battery life, data security, and privacy concerns addressed. Regulatory compliance, customization, and social media integration are key features, along with pet insurance, veterinary data sharing, and remote consultation. Wearable design trends include sustainable materials, ethical production, pet wellness, preventive care, and early disease detection. Behavioral analysis, safety alerts, emergency response, accessories, and pet-friendly materials ensure comfort and aesthetics, while pet fashion and branding add value. Wearable software development focuses on pet-specific applications, data visualization, user interface design, and marketing.

Market Research Overview

The Pet Wearable Market encompasses the production of advanced technologies for pets, including activity trackers, GPS trackers, smart collars, health monitoring devices, fitness tracking solutions, location tracking systems, and wearable sensors. According to Technavio, this market is a segment of the broader Wearable Technology Market, which is calculated based on the revenue generated from sales of these pet-focused wearable devices and investments made by pet owners and service providers to enhance pet safety and wellness. Key growth drivers for the Pet Wearable Market include the increasing popularity of pet adoption, rising awareness of pet health and fitness, and the integration of advanced technologies into pet care solutions.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/