Industry Background:
Pet wearable are the wearable devices which includes wearable technology for personal usage. This technology helps humans to connect with their pets and track their daily activities. These activities can be tracked and monitored by using pet wearable devices such as GPS trackers, RFID sensors, motion sensors, Bluetooth and camera, etc. All these wearable devices help in checking the heart rate, respiratory rate as well as the rest patterns and the calories that their pets have shred off, which indeed helps the owners to analyze the well-being and health of their pets. Moreover, IoT technology is also playing a vital role in transmitting information about pet health to the veterinarians and owners. In coming years, the combination of the wearable devices, mobile application, and data analytics technology can increase the market for pet wearable.This growth is primarily driven by Increasing Awareness About the Security and Wellbeing of the Pets, The Rapid Increase in Adopting Pets Globally, Rising Adoption and Expenditure on Medical Diagnosis for Pets and Increasing Attachment of Owners With their Pets.
Globally, a noticeable market trend is evident Providing Cloud-Based Data Analytics Services in Pet Wearable
. Major Vendors, such as FitBark Inc. (United States), Voyce (United States), PetPace LLC (United States), Binatone Global (Hong Kong), Cybortra technology Co. Ltd. (China), KYON (Greece), Loc8tor Ltd. (England), PawTrax Limited (United Kingdom), Pet Vu Inc. (United States) and Petcube, Inc. (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Market Drivers
- Increasing Awareness About the Security and Wellbeing of the Pets
- The Rapid Increase in Adopting Pets Globally
- Rising Adoption and Expenditure on Medical Diagnosis for Pets
- Increasing Attachment of Owners With their Pets
Market Trend
- Providing Cloud-Based Data Analytics Services in Pet Wearable
- Increasing Demand for GPS-Based Microchips for Pet Wearables
Restraints
- Lack of Knowledge Regarding Pet Wearable Devices in Developing Countries
- High Power Consumption for Wearable Devices
Opportunities
Technological Developments in Wireless Area Networks and Sensors and Developments in Analytics Technology Used in Pet Wearable
Challenges
The Short Battery Life of Pet Wearable Devices and The High Cost of Wearable Devices
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Pet Wearable Study Sheds Light on
The Pet Wearable Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Pet Wearable industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Pet Wearable industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.