Pet Wearable Market revenue to hit $10 Bn by 2027; Global

Selbyville, Delaware, June 3, 2021 (GLOBE NEWSWIRE) –

Global Market Insights Inc. recently released a new report on the Pet Wearables Market that estimates the Pet Wearables market valuation at over $ 10 Billion by 2027, and Pets Will Drive Industry Growth.

Wearable devices for pets are being widely adopted by identification and tracking applications. Smart collars with built-in GPS trackers make it easy to identify and track pets. The number of dog thefts in the UK has skyrocketed since the coronavirus pandemic broke out. According to DogLost, the UK dog rescue community, the number of dog thefts has increased by an estimated 250% since March 2020. With the help of GPS tracking devices, the likelihood of a pet being stolen can be drastically reduced. GPS-enabled pet wearables allow owners to easily track a pet’s location and identify it using their smartphone.

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An intelligent harness system can be fastened around a pet’s body and is equipped with sensors to detect and monitor a pet’s body language, posture and noises. The device also contains physiological sensors that can monitor body temperature and heart rate. For example, Inupathy, a Japanese pet technology company, has developed a smart harness that monitors pets’ heart rates. The technology uses a sensor to analyze a dog’s heartbeat variation and includes multi-colored LEDs that represent the dog’s emotional state.

Wearable devices for pets are being widely adopted by identification and tracking applications. Smart collars with built-in GPS trackers make it easy to identify and track pets. The number of dog thefts in the UK has skyrocketed since the coronavirus pandemic broke out. According to DogLost, the UK dog rescue community, the number of dog thefts has increased by an estimated 250% since March 2020. With the help of GPS tracking devices, the likelihood of a pet being stolen can be drastically reduced. GPS-enabled pet wearables allow owners to easily track a pet’s location and identify it using their smartphone.

An intelligent harness system can be fastened around a pet’s body and is equipped with sensors to detect and monitor a pet’s body language, posture and noises. The device also contains physiological sensors that can monitor body temperature and heart rate. For example, Inupathy, a Japanese pet technology company, has developed a smart harness that monitors pets’ heart rates. The technology uses a sensor to analyze a dog’s heartbeat variation and includes multi-colored LEDs that represent the dog’s emotional state.

It is estimated that sensors will have a significant market share of portable pets in the 2021-2027 period. Sensors are used to record a pet’s vital signs and analyze the information gathered to identify and alert pet owners to health issues. Different types of sensors are being developed for different applications, including heart rate, acceleration, temperature, image and water sensors. These devices make it possible to track a pet’s behavior, precise movement, and activities, and monitor their health-related biometric data. The availability of smaller and more affordable sensors with improved compatibility is also increasing the demand for wearables for pets.

The portable pet market in Asia Pacific is expected to grow significantly due to rising disposable income, rapid urbanization, and growing nuclear families. In September 2020, the Ministry of Statistics and Program Implementation (India) announced that every Indian earned 30% more than their income in the 2014-15 fiscal year. In addition, the trend towards the humanization of pets and the changing attitudes of individuals and the treatment of pets as part of the family offer tremendous potential for the pet industry in the Asia Pacific region.

Some Key Findings of the Portable Pets Market Report Are:

  • The increasing adoption of pets as companions is driving investment in smart wearable devices to keep them entertained, safe, and healthy.
  • Animal and rescue shelters use social media channels like Instagram and Facebook to promote pet adoption. Social media campaigns like National Adoption Weekend, Help A Pet Day, and Adopt a Shelter Dog Month are helping to increase visibility and find homes for pets.
  • The COVID-19 pandemic has impacted sales of pet wearables around the world due to the closure of manufacturing facilities. On the flip side, social distancing norms have resulted in pets being increasingly adopted as companions. The pet wearables market is expected to see gradual growth through the second half of 2021.
  • Smart collars are increasingly being used to monitor and track the location of pets. The availability of a wide range of innovative smart collars designed primarily for dogs and cats attracts pet owners to invest in these devices.
  • The increasing awareness of the physical and mental fitness of a pet has fueled the development of intelligent wearable devices for pets. For example, the PetPace wireless intelligent health monitoring collar continuously records a pet’s vital signs and behavioral patterns so owners can monitor their dog / cat’s general well-being.

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Sub-chapter of the report table of contents (TOC):

Chapter 2 Summary

2.1 Portable Pet Industry 360 ° Overview, 2017-2027

2.1.1 Business Trends

2.1.2 Regional trends

2.1.3 Product trends

2.1.4 Technology trends

2.1.5 Application trends

2.1.6 End-user trends

Chapter 3 Insights into the Pet Wearable Industry

3.1 Industry segmentation

3.2 Effects of the coronavirus (COVID-19) pandemic

3.2.1 Global outlook

3.2.2 Regional outlook

3.2.2.1 North America

3.2.2.2 Europe

3.2.2.3 Asia-Pacific

3.2.2.4 Latin America

3.2.2.5 MEA

3.2.3 The industrial value chain

3.2.3.1 Research and Development

3.2.3.2 Marketing

3.2.3.3 Supply

3.2.4 Competitive landscape

3.2.4.1 Strategy

3.2.4.2 Distribution network

3.2.4.3 Business growth

3.3 Industry ecosystem analysis

3.3.1 Raw material suppliers

3.3.2 Component Suppliers

3.3.3 Manufacturer

3.3.4 Technology providers

3.3.5 Software / cloud providers

3.3.6 System integrators

3.3.7 Service providers

3.3.8 Distribution partners

3.3.9 Supplier matrix

3.3.9.1 Raw material suppliers

3.3.9.2 Component Suppliers

3.3.9.3 Manufacturer

3.3.9.4 Technology providers

3.3.9.5 Software / cloud providers

3.3.9.6 System integrators

3.3.9.7 Service providers

3.3.9.8 Distribution partners

3.4 Technology & innovation landscape

3.5 Number of pets, by region, 2020

3.5.1 North America

3.5.2 Europe

3.5.3 Asia-Pacific

3.5.4 Latin America

3.5.5 MEA

3.6 Regulatory landscape

3.6.1 North America

3.6.2 Europe

3.6.3 Asia-Pacific

3.6.4 Latin America

3.6.5 MEA

3.7 Price trend analysis, 2017-2027

3.7.1 By product

3.7.2 By region

3.8 Industry influencers

3.8.1 Growth drivers

3.8.1.1 Raising awareness of the animal’s mental and physical fitness

3.8.1.2 Rise in Rescue Dog Acceptance by Millennials in Asia Pacific

3.8.1.3 Growing demand for remote pet monitoring and tracking in the US and Europe

3.8.1.4 Increase in the number of pet tech start-ups in Europe

3.8.1.5 Urbanization and increasing popularity of pets in Latin America and MEA

3.8.2 Pitfalls and challenges in the industry

3.8.2.1 Power consumption and short battery life of the devices

3.8.2.2 Lack of public awareness

3.9 Growth potential analysis

3.10 Porter Analysis

3.10.1 Supplier power

3.10.2 Buyer’s Power

3.10.3 Threat from new entrants

3.10.4 Threat from substitutes

3.10.5 Internal rivalry

3.11 PESTEL analysis

3.11.1 Political

3.11.2 Economical

3.11.3 Social

3.11.4 Technological

3.11.5 Environment

3.11.6 Legal

About global market insights

Global Market Insights Inc., headquartered in Delaware, USA, is a global market research and consulting service provider; Offering syndicated and custom research reports along with growth advisory services. Our business intelligence and industry research reports provide customers with penetrating insights and actionable market data that is specifically designed and presented to aid strategic decisions. These in-depth reports have been generated using a proprietary research methodology and are available for key industries such as chemistry, advanced materials, technology, renewable energies and biotechnology.

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