In recent years, pet wearable has seen some demand growth. Pet wearable used to monitor the real-time location of pets and provide information regarding the amount of food they eat. These wearables aid the owners in maintaining the health of their pets.
What is the pet wearable market size, and what factors are driving the market?
Teleco
The pet wearable market is gaining momentum due to the growing trend of IoT, which enables smart devices such as smartphones, laptops and tablets to be connected to these pet wearable devices, enabling the user to monitor and track the movement of their pets continuously. Globally, the growing recognition coupled with easy wearable availability is expected to boost the global pet wearable market.
The surge in global pet wearable’s demand is primarily driven by advances in wireless networks, productive and economical wireless sensors, higher digital map adoption and the development of a mobile app with interactive digital maps. The growth of the pet wearable market will be driven in both developed and emerging markets by increased pet adoption and increasing awareness of the pet health and fitness along with greater income availability.
Smartelctra
The global pet wearable market is anticipated to reach around US$ 2 billion by 2025 from US$ 0.5 billion.
The pet wearable is a device worn by pets either in the form of a collar, a tag or a vest for the purposes of tracking, surveillance, monitoring, supervision, medical diagnosis, medication, relaxation and safety. Such wearable devices operate with passive radio frequency identification (RFID), a global positioning system (GPS) or cellular connectivity such as Bluetooth.
The availability of advanced, cost-effective pet wearable, increasing pet care issues, increased animal health spending are the few factors that provide the impetus to wearable pet demand worldwide. Moreover, the technological advances in tracking pets and the availability of multiple GPS collars and sensors at a cost-effective price are likely to increase demand for wearable devices for pets. For instance, the FitBark is a pet technology data-driven company with a smart collar fitted with different sensor systems that enable owners to track their behaviour, sleep quality and travelled distance, enhancing the pet behaviour.
However, there are several factors which are expected to impede the growth of the pet wearable market, including battery life, purchase costs, lack of infrastructure and high network installation costs.