Pet Wearable Market Analysis, Size, Growth, Share, Trend, Outlook & Forecast to 2027
The global pet wearable market size is estimated to reach USD 4.6 billion by 2027, registering a CAGR of 14.3% over the forecast period, according to a study conducted by Grand View Research, Inc. Increasing concerns toward companion animals’ health and wellbeing, coupled with rising pet humanization and population, is anticipated to be the key factor driving the growth of the market over the forecast period. In addition, increasing expenditure on pet consumables and rising demand for identification and tracking devices are some of the key factors driving the market growth. According to the American Pet Products Association (APPA), the expenditure on companion animals in U.S. is expected to be USD 72.1 billion in 2018. Several advancements in technology is expected to lead to an increased demand for these wearables over the forecast period. Wearables are capable of continuously tracking health-related parameters such as body temperature, calorie intake, and Heart Rate Variability (HRV). Moreover, sensor technology is integrated into wearable devices to monitor and measure health metrics such as heart rate and respiration levels. It also enables pet owners to check disease symptoms, store medical records in the cloud, and set goals and reminders. Moreover, growing reliance on pets for companionship, mental wellbeing, fitness, and entertainment has led to an increased spending on companion animals. The availability of advanced technology-based devices to monitor health by gathering vital information is expected to drive the pet wearable market growth. Furthermore, increasing adoption of
companion animals in emerging economies such as India and China would offer several opportunities for market growth in the Asia Pacific region over the forecast period. On the other hand, North America dominated the global market in 2019 owing to the increasing awareness of the importance of pet health. Moreover, high penetration of fitness and activity monitoring devices and increased spending on companion animals is anticipated to drive the regional market growth. Browse Details of Report @ https://www.grandviewresearch.com/industry-analysis/pet-wearablemarket Key industry players include Allflex USA Inc.; Avid Identification Systems, Inc.; Datamars; Fitbark; Garmin Ltd., Intervet Inc.; Invisible Fence; and Konectera Inc. Key players in the market focus on research and development activities to develop innovative products to expand their product offerings. In addition, companies adopt strategies such as collaborations, expansions, and acquisitions to strengthen their position in the global market. Pet Wearable Market Report Highlights
The RFID segment dominated the market with a share of 39.9% in 2019, as RFID technology is considered more accurate and reliable, and helps authenticate products and store information
The identification and tracking segment dominated the market in 2019 and is projected to reach USD 2.8 billion by 2027 as tracking wearable devices can play a significant role in finding lost or stolen pets
The Asia Pacific pet wearable market is estimated to register the highest CAGR of over 17.0% from 2020 to 2027 owing to increasing awareness regarding pet fitness and health in countries such as India and Australia
Key industry players include PetPace LLC; Whistle Labs, Inc.; Tractive; Garmin International, Inc.; and FitBark.
Pet Wearable Market Report Highlights Grand View Research has segmented the global pet wearable market on the basis of technology, application, and region: Pet Wearable Technology Outlook (Revenue, USD Million, 2016 - 2027) RFID
GPS
Sensors
Pet Wearable Application Outlook (Revenue, USD Million, 2016 - 2027) Identification & Tracking
Behavior Monitoring & Control
Facilitation, Safety & Security
Medical Diagnosis & Treatment
What questions do you have? Get quick response from our industry experts @
https://www.grandviewresearch.com/request-free-consultation/1606/rfc Pet Wearable Regional Outlook (Revenue, USD Million, 2016 - 2027) North America
o
U.S.
o
Canada
Europe o
Germany
o
U.K.
o
France
o
Spain
Asia Pacific o
China
o
India
o
Japan
Latin America o
Brazil
o
Mexico
Middle East & Africa (MEA)
Table of Content Chapter 1 Methodology and Scope 1.1 Market Segmentation and Scope 1.2 Market Definition 1.3 Information Procurement 1.4 Purchased Database
1.4.1 GVR internal database 1.5 Research Methodology 1.6 Research Scope and Assumptions 1.7 Region/Country-Wise Market Calculation 1.7.1 Region/country-wise market: Base estimates 1.7.2 Region/country-wise market: CAGR calculation 1.7.3 Region/country-wise market: Segment share calculation 1.8 List of Primary Sources 1.9 List of Secondary Sources 1.10 List of Abbreviations Chapter 2 Executive Summary Chapter 3 Market Snapshot 3.1 Pet wearable - Market snapshot and key buying criteria, 2016 - 2027 3.1.1 Global pet wearable market, 2016 – 2027 Continue……….. About Grand View Research, Inc.: Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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