Global Pet Wearable Market to Reach USD 9,374.22 Million by 2031 | CAGR of 13.9%
Category : Consumer Goods | Published Date : Nov 2024 | Type : Press Release
Pet Wearable Market Scope & Overview:
In the newly published report, Consegic Business Intelligence states that the Pet Wearable Market was valued at USD 3,319.22 Million in 2023 and is projected to reach USD 9,374.22 Million by 2031, growing at a CAGR of 13.9% from 2024 to 2031. Pet wearables are electronic devices designed to be worn by pets, enabling functionalities like real-time health monitoring, fitness tracking, identification, and enhanced pet safety. These wearables benefit owners by providing insights into pet health, behavior, and location, aiding in the early detection of health issues, and facilitating timely medical intervention.
The report comprises the Pet Wearable Market Share, Size & Industry Analysis, By Product Type (Smart Collars, Trackers, Pet Cameras, Whistles, Activity Monitors, Pet Health Monitors, Others), Services (Hardware, Software), Technology (GPS, RFID, Sensors, Wi-Fi, Bluetooth, Processors, Memory, Displays, Batteries), Sales Channel (Indirect, Online Sales Channels, Care Service Centers, Pet Stores, Others), Application (Medical Diagnosis & Treatment, Identification and Tracking, Safety & Security, Facilitation, Behavioral Monitoring & Control), End User (Individuals, Wildlife Sanctuaries, Animal Shelters, NGOs, Veterinary Doctors, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa), and Forecast, 2024-2031.
The report contains detailed information on Pet Wearable Market Trends, Opportunities, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profile, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraints or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
Increased awareness of pet health and wellness and technological advancements in pet wearables drive market expansion while rising pet insurance availability for wearables offers new opportunities.
Segmental Analysis :
Based on product type, the market is segmented into smart collars, trackers, pet cameras, whistles, activity monitors, pet health monitors, and others.
- Activity monitors held the largest revenue share in 2023, as these devices help track physical activity and provide insights into pet behavior and exercise.
- Smart collars are anticipated to register a significant CAGR, offering real-time tracking, health monitoring, and behavioral analysis features for enhanced pet care.
Based on services, the market is categorized into hardware and software.
- Hardware dominated the market in 2023, supported by advancements in wearable devices for tracking and monitoring.
- Hardware is also projected to witness the fastest CAGR, as technological improvements enhance functionality and user experience.
Based on technology, the market includes GPS, RFID, sensors, Wi-Fi, Bluetooth, processors, memory, displays, and batteries.
- RFID accounted for the largest share in 2023 due to its accuracy and reliability in tracking pet health data.
- GPS is expected to grow at the fastest CAGR, with capabilities like real-time tracking, geofencing, and smartphone integration boosting demand.
Based on sales channels, the market encompasses indirect channels, online sales channels, care service centers, pet stores, and others.
- Online sales channels led with a 36.27% revenue share in 2023, driven by internet penetration, product variety, and convenience in shopping.
- Online sales channels are expected to continue rapid growth, supported by e-commerce expansion and increased internet access.
Based on application, the market is divided into medical diagnosis & treatment, identification and tracking, safety & security, facilitation, and behavioral monitoring & control.
- Identification and tracking held the largest share in 2023, driven by rising demand for pet monitoring.
- Medical diagnosis and treatment is anticipated to grow at a significant CAGR due to advancements in health monitoring technology for pets.
Based on end-users, the market includes individuals, wildlife sanctuaries, animal shelters, NGOs, veterinary doctors, and others.
- Individuals led the market in 2023, with demand for pet health monitoring tools and activity tracking.
- Veterinary doctors are expected to see substantial growth, driven by the need for real-time health data to support better medical outcomes.
Based on regions, the global market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
- Asia-Pacific led the market in 2023, with significant demand for pet health and activity tracking, especially in China.
- North America is projected to grow considerably, supported by innovation in pet wearables and increased pet health awareness.
| Report Attributes | Report Details |
| Study Timeline | 2018-2031 |
| Market Size in 2031 | USD 9,374.22 Million |
| CAGR (2024-2031) | 13.9% |
| By Product Type | Smart Collars, Trackers, Pet Cameras, Whistles, Activity Monitors, Pet Health Monitors, Others |
| By Services | Hardware, Software |
| By Technology | GPS, RFID, Sensors, Wi-Fi, Bluetooth, Processors, Memory, Displays, Batteries |
| By Sales Channel | Indirect, Online Sales Channels, Care Service Centers, Pet Stores, Others |
| By Application | Medical Diagnosis & Treatment, Identification and Tracking, Safety & Security, Facilitation, Behavioral Monitoring & Control |
| By End User | Individuals, Wildlife Sanctuaries, Animal Shelters, NGOs, Veterinary Doctors, Others |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The competitive landscape encompasses major innovators, aftermarket service providers, industry giants, and niche players, all of which are thoroughly examined by Consegic Business Intelligence in terms of their strengths, weaknesses, and value-addition potential. This report includes detailed profiles of key players, market share analysis, mergers and acquisitions, resulting market fragmentation, and emerging partnership trends and dynamics..
List of prominent players in the Pet Wearable Industry:
- Supertails (India)
- Pawsindia (India)
- Dogo (United States)
- HonestDog (United States)
- hound.vet (United Kingdom)
- Pawfit (United Kingdom)
- PetSafe (United States)
- PETLIBRO (United States)
- PetPace (United States)
- FitBark (United States)
- Datamars (Switzerland)
Recent Industry Developments :
- In June 2024, PetSafe announced a collaboration with Brittany Mahomes and celebrity dog trainer Tom Davis to promote the Guardian GPS + Tracking Dog Fence.
- In May 2024, Wagmo partnered with Rover to offer discounted pet care services, enhancing access to pet wellness and GPS tracking solutions.
