NEW YORK, Sept. 24, 2023 /PRNewswire/ — The “Pet Wearable Market by product (Smart collar, Smart digicam, and Smart harness and vest), utility (Identification and monitoring, Monitoring and management, Medical analysis and therapy, and Facilitation/security and safety), and geography (North America, Europe, APAC, Middle East and Africa, and South America) – Forecast and Analysis 2023-2027″ report has been added to technavio providing. With ISO 9001:2015 certification, Technavio has proudly partnered with greater than 100 Fortune 500 corporations for over 16 years. The potential progress distinction for the pet wearable market between 2022 and 2027 is USD 2.17 billion. The rising pet business is notably driving progress within the pet wearable market. The pet business has continued to develop at a positive charge, together with equipment and providers over the previous years. Pet wearables signify a distinct segment inside this increasing market, attracting each established gamers and startups in search of alternatives for progress. The way of life of individuals has modified immensely with a rising variety of dual-income households. However, individuals are keen to spend further money on a number of merchandise which can be thought-about a luxurious resembling Gucci canine collars. They have gotten an increasing number of fascinated about buying premium merchandise in an effort to present their pets with the most effective as pet homeowners deal with their pets like family members. Such merchandise cater to the wants of contemporary pet homeowners, driving market progress through the forecast interval. Get deeper insights into the market measurement, present market state of affairs, future progress alternatives, main progress driving elements, the latest traits, and rather more. Buy the full report here
Market Challenge
The presence of unorganized gamers and the availability of counterfeit merchandise is a major problem confronted by the pet wearable market. With the elevated availability of counterfeit and low-quality merchandise, the expansion of the worldwide for pets wearable gadgets is being hindered. The availability of counterfeit merchandise, together with pet wearables and different equipment, is excessive in rising nations like China and India. Well-established international rivals face excessive competitors from these gamers. However, in creating international locations, many shoppers don’t choose to spend money on costly pet care merchandise, together with pet furnishings. With their low-cost and low-quality choices, most counterfeit gamers goal these shoppers. The low working prices and investments required on this market are important advantages for these gamers. Hence, the excessive competitors from counterfeit gamers is a major worth problem for well-established producers which in flip hinders the market progress through the forecast interval.
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The pet wearable market is segmented by Product (Smart collar, Smart digicam, and Smart harness and vest), Application (Identification and monitoring, Monitoring and management, Medical analysis and therapy, and Facilitation/security and safety), and Geography (North America, Europe, APAC, Middle East and Africa, and South America).
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The good collar phase is estimated to witness important progress through the forecast interval. Smart collars are technologically superior and modern merchandise that ship totally different benefits to pet homeowners, enhancing the general well-being and security of their beloved furry companions. GPS monitoring is a crucial facet, which permits pet homeowners to search out their pets in real-time and is often included with the GPS monitoring collar. Smart collars typically ship personalised settings, which entitle pet homeowners to vary the features of an instrument in accordance with their pets’ particular wants and preferences. Due to such benefits, the demand for good collars is growing, which in flip is driving the expansion of the worldwide market in focus through the forecast interval.
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North America is estimated to account for 43% of the worldwide market throughout the forecast interval.
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Key Companies within the pet wearable market:
Avid Identification Systems Inc., Barking Labs Corp., Datamars SA, Dogtra Co., Felcana, FitBark Inc., Garmin Ltd., GoPro Inc., Loc8tor Ltd., Mars Inc., Merck and Co. Inc., NUM AXES, Pet Valu Canada Inc., PetTempo, Protect Animals With Satellites LLC, SCOLLAR Inc., Smart Tracking Technologies LLC, Tractive GmbH, Vandrico Solutions Inc., and Wagz Inc.
Related Reports:
The pet food market measurement is estimated to develop at a CAGR of 5.71% between 2022 and 2027. The market measurement is forecast to extend by USD 35.75 billion.
The Global Animal Health Diagnostics Market measurement is estimated to develop by USD 1,956.81 million between 2022 and 2027 accelerating at a CAGR of 9.63% through the forecast interval.
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Pet Wearable Market Scope |
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Report Coverage |
Details |
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Base 12 months |
2022 |
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Historic interval |
2017-2021 |
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Forecast interval |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 13.66% |
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Market progress 2023-2027 |
USD 2.17 billion |
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Market construction |
Fragmented |
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YoY progress 2022-2023 (%) |
13.0 |
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Regional evaluation |
North America, Europe, APAC, Middle East and Africa, and South America |
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Performing market contribution |
North America at 43% |
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Key international locations |
US, China, Germany, UK, and France |
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Competitive panorama |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key corporations profiled |
Avid Identification Systems Inc., Barking Labs Corp., Datamars SA, Dogtra Co., Felcana, FitBark Inc., Garmin Ltd., GoPro Inc., Loc8tor Ltd., Mars Inc., Merck and Co. Inc., NUM AXES, Pet Valu Canada Inc., PetTempo, Protect Animals With Satellites LLC, SCOLLAR Inc., Smart Tracking Technologies LLC, Tractive GmbH, Vandrico Solutions Inc., and Wagz Inc. |
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Market dynamics |
Parent market evaluation, Market progress inducers and obstacles, Fast-growing and slow-growing phase evaluation, COVID-19 affect and restoration evaluation and future shopper dynamics, Market situation evaluation for the forecast interval |
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Customization purview |
If our report has not included the information that you’re in search of, you’ll be able to attain out to our analysts and get segments personalized. |
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by Application
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
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