NEW YORK CITY, June 29, 2023 /PRNewswire/ — The Smart-Connected Pet Collars Market is approximated to grow by USD 596.76 million from 2022 to 2027. The market is approximated to be growing at a CAGR of 9.5% throughout the projection duration. North America is approximated to represent 36% of the international market development. Compared to other areas, the appeal of family pets in North America is the greatest. Due to a growing millennial population and an ever-increasing pattern of animal humanization, customers in North American nations spend most on premium and high-end items for their family pets than simply on animal food. Hence, such elements drive local market development throughout the projection duration. For Comprehensive information on the marketplace size of the historical duration(2017 to 2021) and projection duration (2023-2027) – View Sample report.
Smart-Connected Pet Collars Market – Vendor Landscape
The smart-connected animal collar market is fragmented; the suppliers are taking on rivals and are attempting to get a higher market share. The market is growing, and the possibilities of brand-new entrants cannot be neglected. The significant suppliers have reputable economies of scale and market existence and normally depend on placing technological advances, and the cost of the items –The report offers a complete list of essential suppliers, their methods, and the latest advancements. Buy Now
Smart-Connected Pet Collars Market – Market Dynamics
Major Drivers & Challenges-
The strong bond in between owners and family pets drives the development throughout the projection duration. Several people treat domestic animals, specifically dogs, as buddies and dogs have a long association with people and adjust well to their way of lives. Majority of the owners train their family pets to improve their relationship with the animal and allow them to perform tasks. Furthermore, the majority of suppliers have actually incorporated mobile applications into the cloud server to store information and have actually developed ultrasonic whistles that limit family pets, specifically dogs, from barking exceedingly. Hence, such elements drive the marketplace development throughout the projection duration.
The existence of network connection concerns challenges the development of the smart-connected animal collars market throughout the projection duration. Most smart-connected animal collars utilize a network interaction system and some suppliers have actually begun making Wi-Fi modems, where a network is not needed to trace the area of the animal. But these Wi-Fi routers have specific restrictions. For circumstances, SCOLLAR Inc. (SCOLLAR) is among the leading producers of smart-connected animal collars and uses the SCOLLAR Wi-Fi base station. This router turns the GPS signal off when the animal moves about within the Wi-Fi variety. Hence, such obstacles hamper market development throughout the projection duration.
Key Trends–
The growing need from working people for animal tracking fuels the development of the marketplace throughout the projection duration. Certain little and mid-sized businesses (SMBs) have actually begun presenting pet-friendly policies. They enable staff members to bring their family pets to the office. But most business do not support such policies as they feel that they will impact the workplace. Thus, many people are far from their houses for around 8-10 hours a day, which results in a need for clever collars to monitor their family pets. So, using smart-connected animal collars assists them get in touch with their family pets from their work area through defined mobile applications. Hence, such patterns enhance the marketplace development throughout the projection duration.
Technavio has actually determined essential patterns, drivers, and obstacles in the market, which will help customers enhance their methods to remain ahead of their rivals. – View Sample Report
Smart-Connected Pet Collars Market – Company Profiles
The smart-connected animal collars market report consists of details on the item launches, sustainability, and potential customers of leading suppliers consisting of Barking Labs Corp., Dogtra Co., Eureka Technology Partners LLC, Findster Technologies SA, FitBark Inc., Garmin Ltd., Gibi Technologies Inc., Loc8tor Ltd., Mars Inc., Pawscout Inc., PetSpeed, Pitpatpet Ltd., Radio Systems Corp., RAWR Inc., SCOLLAR Inc., SGI Venture Ltd., Smart Tracking Technologies LLC, Tractive GmbH, UbiSight Technology LLC, and Wagz Inc.
Smart-Connected Pet Collars Market – Competitive Analysis
The report consists of competitive analysis, an exclusive tool to examine and assess the position of business based upon their market position rating and market efficiency rating. The competitive circumstance classifies business based upon numerous efficiency signs. Some of the elements thought about consist of the monetary efficiency of business over the previous couple of years, development methods, item developments, brand-new item launches, financial investments, and development in market share, to name a few.
Smart-Connected Pet Collars Market – Market Segmentation
This smart-connected animal collars market report thoroughly covers market division by circulation channel (offline and online), application (dogs and cats), and location (North America, Europe, APAC, South America, and Middle East and Africa).
-
The market share development by the offline section will be substantial for market development throughout the projection duration. This section consists of specialized shops, outlet store, grocery stores, and hypermarkets. Furthermore, outlet store are anticipated to create more profits compared to other offline circulation channels, such as retailers and hypermarkets. Such shops provide smart-connected animal collars at competitive rates to bring in clients. Hence, such elements enhance the section development throughout the projection duration.
Gain instantaneous access to 17,000+ marketing research reports.
Technavio’s SUBSCRIPTION platform
Related Reports:
The pet food market size is anticipated to increase by USD 42.57 billion from 2021 to 2026, and the marketplace’s development momentum will speed up at a CAGR of 7.41%. Furthermore, this report thoroughly covers animal grocery store division by item (dry food, snacks and treats, and wet food), type (dog food, cat food, and others), and location (North America, Europe, APAC, South America, and Middle East and Africa). The growing need for natural animal food is among the essential elements driving the animal grocery store development.
The pet milk market size is anticipated to increase to USD 57.16 million from 2021 to 2026, and the marketplace’s development momentum will speed up at a CAGR of 7.09%. Furthermore, this report thoroughly covers animal milk replacers market division by item (powder and liquid) and location (North America, Europe, APAC, South America, and Middle East and Africa). The growing variety of milk item launches for puppies and kittens is among the essential animal milk market patterns moving the marketplace development.
|
Smart-Connected Pet Collars Market Scope |
|
|
Report Coverage |
Details |
|
Base year |
2022 |
|
Historic duration |
2017-2021 |
|
Forecast duration |
2023-2027 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 9.5% |
|
Market development 2023-2027 |
USD 596.76 million |
|
Market structure |
Fragmented |
|
YoY development 2022-2023 (%) |
8.5 |
|
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
|
Performing market contribution |
North America at 36% |
|
Key nations |
United States, Canada, China, France, and Germany |
|
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
|
Key business profiled |
Barking Labs Corp., Dogtra Co., Eureka Technology Partners LLC, Findster Technologies SA, FitBark Inc., Garmin Ltd., Gibi Technologies Inc., Loc8tor Ltd., Mars Inc., Pawscout Inc., PetSpeed, Pitpatpet Ltd., Radio Systems Corp., RAWR Inc., SCOLLAR Inc., SGI Venture Ltd., Smart Tracking Technologies LLC, Tractive GmbH, UbiSight Technology LLC, and Wagz Inc. |
|
Market characteristics |
Parent market analysis, Market development inducers and barriers, Fast-growing and slow-growing section analysis, COVID-19 effect and healing analysis and future customer characteristics, Market condition analysis for projection duration. |
|
Customization province |
If our report has actually not consisted of the information that you are searching for, you can connect to our experts and get sectors personalized. |
Table of Contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Application
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 international innovation research study and advisory business. Their research study and analysis concentrate on emerging market patterns and supply actionable insights to help businesses recognize market opportunities and establish reliable methods to enhance their market positions. With over 500 specialized experts, Technavio’s report library includes more than 17,000 reports and counting, covering 800 innovations, covering 50 nations. Their customer base includes business of all sizes, consisting of more than 100 Fortune 500 business. This growing customer base counts on Technavio’s extensive protection, comprehensive research study, and actionable market insights to recognize opportunities in existing and possible markets and evaluate their competitive positions within altering market circumstances.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
United States: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com
View initial material to download multimedia: https://www.prnewswire.com/news-releases/smart-connected-pet-collars-market-to-grow-by-usd-596-76-million-from-2022-to-2027-the-growing-demand-from-working-individuals-for-pet-monitoring-to-be-a-major-market-trend—technavio-301865578.html
SOURCE Technavio
