NEW YORK, Jan. 10, 2023 /PRNewswire/ — According to Technavio, the global pet monitoring camera market size is estimated to grow by USD 541.19 million from 2022 to 2027. The market is estimated to grow at a CAGR of 17.4% during the forecast period. Moreover, the growth momentum will progress. APAC will account for 40% of the growth of the global market during the forecast period.
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Global pet monitoring camera market – Five forces
The global pet monitoring camera market is fragmented, and the five forces analysis covers–
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Bargaining power of buyers
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The threat of new entrants
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Threat of rivalry
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Bargaining power of suppliers
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Threat of substitutes
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For an interpretation of Porter’s five forces model – buy the report!
Global pet monitoring camera market – Parent market analysis
Technavio categorizes the global pet monitoring camera market as a part of the global electronic equipment and instruments market. The growth of the global electronic equipment and instruments market will be driven by factors such as the increasing demand for electronic test and measurement equipment and the growing demand for metrology equipment and services.
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Global pet monitoring camera market – Customer landscape
The report includes the market’s adoption lifecycle, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global pet monitoring camera market – Segmentation assessment
Segment overview
Technavio has segmented the market based on product (one-way video and two-way video) and distribution channels (offline and online).
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The one-way video segment will contribute significantly to market growth during the forecast period. This segment includes cameras specifically designed to monitor the actions and behavior of pets to keep them secure. The growth of this segment is attributed to factors such as high Internet penetration and rising smartphone adoption.
Geography overview
Based on geography, the global pet monitoring camera market is segmented into APAC, North America, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global pet monitoring camera market.
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APAC is estimated to account for 40% of the growth of the global market during the forecast period. The growth of the market in the region is attributed to factors such as the rising number of smartphone users, growing Internet penetration, rising income level, the increasing number of dual-income households, changing consumer lifestyles, rapid urbanization, improved information technology infrastructure, and an increasing working population. China and Japan are the key markets for pet monitoring cameras in APAC.
Global pet monitoring camera market – Market dynamics
Key factor driving market growth
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The rising concerns over the well-being of pets are driving the market growth.
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Skin allergies, arthritis, brain aging, digestive disorders, and obesity are some of the common health problems faced by pets.
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Moreover, pet thefts are rising across the world, especially in Europe.
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These factors have made pet owners more cautious, which is driving the need to monitor pets.
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Pet monitoring products enable pet owners to monitor their pets from any location.
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Thus, the growing concerns regarding pet thefts and pet health are expected to drive the growth of the market during the forecast period.
Leading trends influencing the market
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4K resolution in pet monitoring cameras is a key trend in the market.
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4K videos provide better clear videos with vivid colors. Cameras with 4K technology allow the extraction of frames from the video footage in playback mode.
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Hence, 4K resolution is expected to become a popular feature in pet monitoring cameras.
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Thus, the adoption of 4K resolution in pet monitoring cameras will support the market during the forecast period.
Major challenges hindering market growth
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Low adoption in developing countries is challenging market growth.
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Several countries have strict regulations on the security and health of pets. For instance, in countries such as the US and the UK, owners have to comply with strict regulations.
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However, countries such as India, Sri Lanka, China, Indonesia, and the Philippines do not have such strict regulations.
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Thus, the lack of attention to the safety of pets discourages pet owners from keeping pets or adopting pet monitoring devices, which is impeding the market growth.
Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find some insights from a sample report!
What are the key data covered in this pet monitoring camera market report?
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CAGR of the market during the forecast period
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Detailed information on factors that will drive the growth of the pet monitoring camera market between 2023 and 2027
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Precise estimation of the size of the pet monitoring camera market and its contribution to the parent market
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Accurate predictions about upcoming trends and changes in consumer behavior
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Growth of the pet monitoring camera market across APAC, North America, Europe, South America, and Middle East and Africa
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A thorough analysis of the market’s competitive landscape and detailed information about vendors
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Comprehensive analysis of factors that will challenge the growth of the pet monitoring camera market vendors
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Pet Monitoring Camera Market Scope |
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Report Coverage |
Details |
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Page number |
156 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 17.4% |
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Market growth 2023-2027 |
USD 541.19 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
16.8 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 40% |
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Key countries |
US, China, Japan, Germany, and UK |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Acer Inc., Amazon.com Inc., Arlo Technologies Inc, Centrica Hive Ltd., EZVIZ Inc., Furbo, Hangzhou Hikvision Digital, Lenovo Group Ltd., Neos Ventures Ltd., PetChatz LLC, Petcube Inc, PETKIT Ltd., Shenzhen Skymee Technology Co. Ltd, Vimtag Technology Co LTD, Wagz Inc., Wopet Pet Product Ltd., Wyze Labs Inc, Xiaomi Inc., and Zmodo Technology Corp. Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Table of contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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