Pet Wearables Market shipments to witness 25% growth over 2017-2024
SELLBYVILLE, Del., April 23, 2018 /PRNewswire-iReach/ -- According to a latest research report by Global Market Insights, Inc. " Pet Wearables Market shipments were over 5 million units in 2016 and are set to grow at a CAGR of more than 25% during the forecast timeframe." Rise in adoption of pets coupled with increase in disposable incomes in several North American households is anticipated to drive the pet wearable market over the coming years. Over 60% of the American homes own either a cat or a dog. The owners have increased their expenditure on pets by investing in wearable devices, as they help remotely monitor and control the pet's health and fitness.
Growing interest for security & wellbeing of pets, and ongoing developments in mapping portals with the infiltration of smart devices will stimulate the GPS enabled devices in the pet wearables market. Wearable technology is changing the lives of both pets and their owners, with mobile apps at the center of the industry. From GPS tracking to RFID implants, the usage of mobile apps and wearable technology in pet industry is providing innovative security and safety solutions to owners and their pets.
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Moreover, the pet wearables market is anticipated to witness high growth over the coming years, owing to rising concerns regarding pet health. The pet industry has started to leverage trends in human fitness & health owing to the growing interest in monitoring pet health to supporting safe implementation of health regimes, such as weight reduction & control feeding. Pet wearable market is growing in popularity as they are specifically designed for cats & dogs with are proactively integrating preventative healthcare into the pet's daily lives.
Demand for pet care is increasing resulting in the increasing demand for highly specialized premium products and services in the pet wearables market. Growing implementation and usage of wearable diagnostics devices for pets will drive the industry growth. Tagging of commercial and household pets for medical purposes will gain significance and momentum. In addition, IoT enabled devices are predicted to profoundly affect the medical and restorative finding segments. Rising awareness for the remote observing, and control of pets will further fuel the industry demand.
The RFID based devices accounted for over 30% revenue share in 2016. The growing trend of implementing RFID tags for dairy animals and pet tracking is a vital factor driving the RFID demand in the pet wearables market. These devices are designed for ultra-high and low frequencies, and are used in continuously recording readings of a pet's daily activities and for animal tracking respectively.
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Smart collars in the pet wearables market accounted for over 40% of the global industry share in 2016. The collars are allowing owners to monitor the pet's activity level and location at all times. These smart collars use Wi-Fi, GPS, sensors and cellular data to send statistics to the owner's smartphone. The data collected through the collars is helping owners track their pet's health and vital signs. Usage of GPS-based wellbeing trackers that utilize innovative applications for acquiring the pets ongoing updates on smartphones is a pivotal driving factor.
Asia Pacific pet wearables market is anticipated to grow at a substantial growth owing to the urbanization and rise in popularity of pets. Owners have a strong emotional connection with their pets, which has encouraged several service providers to develop innovative devices. With growing busy lifestyles and rising work & home pressures, large number of population in countries such as China and Japan are adopting pets to help relieve stress and as companions.
Buy this industry insights spread across 230 pages with 180 market data tables & 29 figures & charts from the report, "Pet Wearable Market Size By Technology (RFID Devices, GPS, Sensors, Bluetooth), By Product (Smart Collar, Smart Vest, Smart Harness, Smart Camera), By Application (Medical Diagnosis & Treatment, Identification & Tracking, Fitness Monitoring, Behavior Monitoring & Control), By End-Use (Household, Commercial), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, China, India, Japan, Australia, Brazil, Mexico), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024" in detail along with the table of contents:
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Chapter 7 Pet Wearables Market, By Application (Revenue & Shipments)
7.1 Pet wearable market share, by application, 2016 & 2024
7.2 Medical diagnosis & treatment
7.2.1 Market estimates and forecast, by region, 2013 – 2024 (USD Million)
7.2.2 Market estimates and forecast, by region, 2013 – 2024 (Thousand Units)
7.3 Identification & tracking
7.3.1 Market estimates and forecast, by region, 2013 – 2024 (USD Million)
7.3.2 Market estimates and forecast, by region, 2013 – 2024 (Thousand Units)
7.4 Behavior monitoring & control
7.4.1 Market estimates and forecast, by region, 2013 – 2024 (USD Million)
7.4.2 Market estimates and forecast, by region, 2013 – 2024 (Thousand Units)
7.5 Fitness monitoring
7.5.1 Market estimates and forecast, by region, 2013 – 2024 (USD Million)
7.5.2 Market estimates and forecast, by region, 2013 – 2024 (Thousand Units)
Browse Full Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/pet-wearable-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Media Contact: Arun Hegde, Global Market Insights, Inc., +13028467766, [email protected]
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SOURCE Global Market Insights, Inc.
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