Latest News:- Pet Monitoring Camera Market: One-way video is expected to lead the Product segment during 2024-2028

Pet Monitoring Camera Market to grow at a CAGR of 23.3% during 2024-2028

The Pet Monitoring Camera Market is expected to grow at a CAGR of 23.3% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 950.7 million. The pet monitoring camera market is witnessing significant growth due to technological innovations. Notable advancements include multi-functional cameras that not only monitor pets but also offer automated feeding alerts based on pet owners' preferred schedules. In Q3 2021, Petcube Inc., a leading US-based tech startup, introduced the Petcube BITES 2. This cost-effective pet monitoring camera boasts 1080p HD video, a 160-degree wide-angle view, and night vision capabilities. 

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The One-way video subsegment is expected to dominate the Product segment during the forecast period 

Technavio analysts predict that the One-way video subsegment will lead the Product segment during 2024 and 2028 The pet monitoring camera market encompasses specialized video surveillance solutions designed to ensure the safety and well-being of pets, addressing escalating concerns over pet theft. The market's expansion is driven by increasing Internet penetration and widespread smartphone adoption, enabling real-time pet monitoring and instant alerts to pet owners in case of unusual activity. Additionally, the growing recognition of companion animals as valued members of families contributes to the market's growth. These devices, which rely on stable internet connectivity, offer peace of mind to pet owners and, in some cases, can even alert authorities to potential incidents.

Here are the various ways based on which the market is segmented: 

• Product
  • One-way video
  • Two-way video
• Distribution Channel
  • Offline
  • Online
• Geography
  • APAC
  • North America
  • Europe
  • South America
  • Middle East and Africa

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There are several factors that are causing the market to flourish increased number of pet ownerships

Learn which are the obstacles that the market is experiencing in the way of its growth by accessing the free PDF report

Research Analysis Overview

The pet monitoring camera market is experiencing significant growth as more family members, including seniors from the aging population, seek ways to ensure the well-being of their pets, especially in smaller living spaces and urban areas. High-resolution sensors and advanced camera technology, including night vision, provide peace of mind for pet owners, enabling them to check on their pets in real-time. These cameras offer stress relief and emotional support, acting as companionship for pets and their owners. The pet care sector, driven by millennial pet owners and adoption trends, is embracing technology with products like the Petzi Treat Cam and Petzilla, which offer cloud connectivity and allow for remote treat dispensing. Middle-income pet owners are also investing in pet monitoring cameras, making it an essential accessory for pet ownership. The demographics of pet owners continue to evolve, and the pet monitoring camera market is poised to meet their needs.

Market Research Overview

The global electronic equipment and instruments market, a significant segment of the super parent electronics industry, encompasses manufacturers of advanced technology products and components. According to Technavio's market analysis, this market's size is determined by the revenue generated from the sales of associated ICT and electronics products, equipment, and components. Factors driving the growth of this market include the increasing demand for sophisticated electronic test and measurement equipment. This demand is fueled by technological advancements and the digital transformation sweeping various industries, such as semiconductors, automotive, IT, consumer electronics, industrial, energy, and medical devices.

The Pet Monitoring Camera Market is experiencing significant growth, fueled by the increased number of pet ownerships. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
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