Pet Wearable Market Lucrative Options for Growth

wearables

​The pet wearable market is extremely consolidated and the top two players – GEA Group AG and DeLaval Inc. – together accounted for a whopping 89% of the total market revenue in 2015. Transparency Market Research finds that strategic expansion of businesses is the general trend observed among the leading players in the pet wearable market. Considering that the market is still in its initial growth phase, companies are keen on expanding their foothold in untapped product and technology segments and regions.

Strong R&D efforts and product innovation are some other key strategies adopted by prominent companies. A case in point would be DeLaval Inc. The firm launched LONGEVITY in May 2016, a program that is designed to help producers manage the health of their herd. The program offers a complete nutritional solution at all stages of a cow’s lifecycle.

The opportunity in the global pet wearable market is estimated to rise from US$1.0 bn in 2016 to be worth US$2.5 bn by 2024 at a strong CAGR of 12.0% therein.

Based on technology, the global pet wearable market is expected to be led by GPS-based products and the segment is likely to account for a share just short of 45% by the end of 2016. This will be followed by the RFID segment. Although sensors account for a low share in the pet wearable market in terms of revenue, the segment is anticipated to register a 12.3% from 2016 to 2024, higher than any other technology segment. By application, the pet wearable is dominated by the identification and tracking segment, while the medical diagnosis and treatment segment will report a high CAGR during the forecast period.

This 126 page report gives readers a comprehensive overview of the Pet Wearable Market. Browse through 03 data tables and 87 figures to unlock the hidden opportunities in this market:

http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=12701

Geographically, North America and Europe will contribute to over 75% of the market during the forecast period, predicts TMR. North America presently has the highest penetration of pet wearables in the world. Majority of the uptake of pet wearable technologies and devices is attributed to the U.S., reflecting close to 75% from 2016 to 2024. Asia Pacific, which is anticipated to project a CAGR higher than any other regional pet wearable market, is expected to be driven by the increased adoption and sales of GPS-based devices.

Connectivity Costs and Issues Restricts Wide-scale Adoption of Pet Wearables in Developing Markets

Increasing expenditure on pets and remarkable changes in the global demographics have proven to be two of the key factors driving the pet wearable . “Fueled by increased disposable income, pet owners are investing more on their pets now than ever before,” the author of the study notes. TMR predicts that the overall expenditure on pets is slated to increase by about 50% by 2020, with spending on pet wearables to surpass that on pet food by 2017.

In addition to this, the global market for pet wearables is fueled by the growing awareness among pet owners and owners of farm animals regarding the importance of monitoring and tracking the animals’ health and fitness.

In contrast, unreliable internet connectivity in several developing markets acts as a major impediment to the growth of the pet wearable . The high cost per line of wireless technology is also threatens to slow down the acceptance of pet wearables in many countries.

Pet Wearable Market by Various Application

​This market research study analyses the ‘Pet Wearable Market’ on a global level and provides estimate in terms of revenue (USD million) from 2016 to 2024. The report segments the market based on the technologies which include Sensors, GPS and RFID. All these segments have been estimated on the basis of geography in terms of revenue (USD million). In addition, the market is segmented by applications such as medical diagnosis & treatment, behaviour monitoring & control, facilitation, safety & security, identification and tracking.

Pet Wearable Market essentially refer to devices designed for pets, which perform crucial functions including but not limited to identification, tracking, controlling and monitoring of pets. Furthermore, with the advancementof technology pet wearable devices for enabling medical diagnosis & treatment and facilitation, safety and security is fast emerging as a popular product segment globally. These devices are designed specifically for dogs, cats and other pets and pet owners use the information generated to gauge their pet’s health conditions and whereabouts in real time. Additionally, innovative features such as setting up geo fencing for pets, setting up an alert mechanism if a pet crosses the designated geo fence, gauging the amount of rest and activity of pets have become essential features to pet wearable devices.

The report elaborates on the type of technologies based on which pet wearable devices are designed. Primarily technologies used in the devices include (GPS) Global Positioning Systems, (RFID) Radio Frequency Identification and sensors. Moving along the study highlights the share of these technologies of the global pet wearable market. The report features the growth rate and market size of these technology segments along with the projected market sizes for the forecast period. The study also explains the factors driving or hindering the growth of individual technology segments. The study finds that the market is mainly dominated by GPS based trackers and RFID receivers however, devices equipped with temperature sensors, motion sensors and accelerometers among others, which monitor heat patterns of the animal’s body and environment and daily activity patterns such as playtime, walks, and rest duration are gaining significant demand in the global market.

This 126 page report gives readers a comprehensive overview of the Pet Wearable Market. Browse through 3 data tables and 87 figures to unlock the hidden opportunities in this market:

http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=12701

The research further segments the market in terms of application areas of pet wearable devices. It is segmented into identification & tracking, facilitation, safety & security, behaviour monitoring & control and medical diagnosis & treatment. So far, majority of the demand in the market has been in the form of products capable of providing identification and tracking of pets and dairy animals. However, the adoption of these devices is expected to decline over the next couple of years, primarily due to the availability of other feature rich products capable of providing same benefits along with other advanced features. It is anticipated that the demand for devices providing medical diagnosis will experience the strongest demand mainly because of the rising awareness about pet health and fitness among pet owners especially in the mature and developed markets of North America and Europe region.

The report segments the market on the basis of geography into North America, Europe, Asia Pacific (APAC), MEA and Latin America, and these have been estimated in terms of revenue (USD million).

For a better understanding of the pet wearable market, we have provided a detailed analysis of the supply chain. A comprehensive analysis of the market dynamics that is inclusive of market drivers, restraints and opportunities is included in the purview of the report. Market dynamics are the distinctive factors which impact the market growth, thereby helping to understand the ongoing trends of the global market. Therefore, the report provides the forecast of the global market for the period from 2016 to 2024, along with offering an inclusive study of the pet wearable market.

The report offers company market share analysis of the various industry participants. Key players have also been profiled based on company overview, financial overview, business strategies, SWOT analysis, and recent developments in the field of Pet Wearable. Major market participants profiled in this report include DeLaval Inc. (Sweden), Loc8tor Ltd. (United Kingdom), Nedap N.V. (Netherlands), PetPace Ltd. (Burlington), Whistle Labs Inc. (United States) and IceRobotics Ltd (United Kingdom) among others.

Pet Wearable Market Availability of Advanced Substitutes Threatening Uptake of Identification and Tracking Devices for Pets

​This market research study analyses the Pet Wearable market on a global level and provides estimate in terms of revenue (USD million) from 2016 to 2024. The report segments the market based on the technologies which include Sensors, GPS and RFID. All these segments have been estimated on the basis of geography in terms of revenue (USD million). In addition, the market is segmented by applications such as medical diagnosis & treatment, behaviour monitoring & control, facilitation, safety & security, identification and tracking.

Pet Wearable Market essentially refer to devices designed for pets, which perform crucial functions including but not limited to identification, tracking, controlling and monitoring of pets. Furthermore, with the advancementof technology pet wearable devices for enabling medical diagnosis & treatment and facilitation, safety and security is fast emerging as a popular product segment globally. These devices are designed specifically for dogs, cats and other pets and pet owners use the information generated to gauge their pet’s health conditions and whereabouts in real time. Additionally, innovative features such as setting up geo fencing for pets, setting up an alert mechanism if a pet crosses the designated geo fence, gauging the amount of rest and activity of pets have become essential features to pet wearable devices.

The report elaborates on the type of technologies based on which Pet Wearable Market devices are designed. Primarily technologies used in the devices include (GPS) Global Positioning Systems, (RFID) Radio Frequency Identification and sensors. Moving along the study highlights the share of these technologies of the global pet wearable market. The report features the growth rate and market size of these technology segments along with the projected market sizes for the forecast period. The study also explains the factors driving or hindering the growth of individual technology segments. The study finds that the market is mainly dominated by GPS based trackers and RFID receivers however, devices equipped with temperature sensors, motion sensors and accelerometers among others, which monitor heat patterns of the animal’s body and environment and daily activity patterns such as playtime, walks, and rest duration are gaining significant demand in the global market.

This 115 page report gives readers a comprehensive overview of the Pet Wearable Market. Browse through 14 data tables and 45 figures to unlock the hidden opportunities in this market:

http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=12701

The research further segments the market in terms of application areas of pet wearable devices. It is segmented into identification & tracking, facilitation, safety & security, behaviour monitoring & control and medical diagnosis & treatment. So far, majority of the demand in the market has been in the form of products capable of providing identification and tracking of pets and dairy animals. However, the adoption of these devices is expected to decline over the next couple of years, primarily due to the availability of other feature rich products capable of providing same benefits along with other advanced features. It is anticipated that the demand for devices providing medical diagnosis will experience the strongest demand mainly because of the rising awareness about pet health and fitness among pet owners especially in the mature and developed markets of North America and Europe region.

The report segments the market on the basis of geography into North America, Europe, Asia Pacific (APAC), MEA and Latin America, and these have been estimated in terms of revenue (USD million).

For a better understanding of the pet wearable market, we have provided a detailed analysis of the supply chain. A comprehensive analysis of the market dynamics that is inclusive of market drivers, restraints and opportunities is included in the purview of the report. Market dynamics are the distinctive factors which impact the market growth, thereby helping to understand the ongoing trends of the global market. Therefore, the report provides the forecast of the global market for the period from 2016 to 2024, along with offering an inclusive study of the pet wearable market.

The report offers company market share analysis of the various industry participants. Key players have also been profiled based on company overview, financial overview, business strategies, SWOT analysis, and recent developments in the field of Pet Wearable.

Pet Wearable Market Forecast by 2024

Over the last couple of years, the advent of wearable technology and the ever-growing awareness about pet health, fitness, and safety have resulted in the emergence of pet wearables. The Pet wearable market is presently in its nascent stage and holds significant potential in the ensuing years. Transparency Market Research projects that the spending on pet wearables is likely to surpass that on pet food by 2017.

The global pet wearables market is estimated to be valued at US$1.0 bn by the end of 2016 and is expected to reach US$2.5 bn by 2024 at a 12.0% CAGR therein.

In terms of application, the pet wearable market is classified into identification and tracking, facilitation, safety, and security, behaviour monitoring and control, and medical diagnosis and treatment. So far, majority of the demand in the pet wearables market has been generated by the identification and tracking segment. However, the adoption rate of identification and tracking devices for pets and farm animals is projected to witness a marginal decline during the forecast period mainly due to the availability of substitute products offering similar as well as more advanced and sophisticated features.

Increasing awareness about pet health and fitness among owners, especially in North America and Europe, is expected to fuel the demand for devices providing medical diagnosis. The medical diagnosis and treatment segment, in combination with the facilitation, safety, and security segment, is expected to account for over a quarter of the pet wearables market by 2024.

This 126 page report gives readers a comprehensive overview of the Pet Wearable Market. Browse through 3 data tables and 87 figures to unlock the hidden opportunities in this market:

http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=12701

Geographically, North America and Europe are expected to be the major markets for pet wearables, with a combined share of around 75% during the forecast period. Market penetration of pet wearables is relatively high across these regions owing to greater purchasing power and stringent regulations pertaining to treatment toward animals. The latter has compelled households with pets to purchase products such as bark collars and behavior modification devices. In addition, the availability of advanced wireless infrastructure and telecommunications technologies has catalyzed the adoption of GPS collars along with monitoring devices for pets. The prevailing technological know-how of mobile devices and interpretation of mobile data among prospective customers in these regions also plays a major role in the uptake of these devices across North America and Europe.

The Asia Pacific pet wearables market is projected to grow at a significant pace through 2024. GPS and RFID technology-based identification, tracking, behavior monitoring, and control are expected experience considerable demand during the forecast period. However, in terms of growth rate, the adoption of devices to ensure the safety and security of pets and to facilitate medical diagnosis and treatment is expected be the leading segment. The lack of advanced telecommunication infrastructure across major markets in the Asia-Pacific region has resulted in a relatively lower adoption of pet wearables and they are expected to gain traction only by the next decade.

Pet Wearable Market Demand for Devices Providing Medical Diagnosis

Over the last couple of years, the advent of wearable technology and the ever-growing awareness about pet health, fitness, and safety have resulted in the emergence of pet wearables. The Pet Wearable Market is presently in its nascent stage and holds significant potential in the ensuing years. Transparency Market Research projects that the spending on pet wearables is likely to surpass that on pet food by 2017.

The global pet wearables market is estimated to be valued at US$1.0 bn by the end of 2016 and is expected to reach US$2.5 bn by 2024 at a 12.0% CAGR therein.

Availability of Advanced Substitutes Threatening Uptake of Identification and Tracking Devices for Pets

In terms of application, the pet wearable market is classified into identification and tracking, facilitation, safety, and security, behaviour monitoring and control, and medical diagnosis and treatment. So far, majority of the demand in the pet wearables market has been generated by the identification and tracking segment. However, the adoption rate of identification and tracking devices for pets and farm animals is projected to witness a marginal decline during the forecast period mainly due to the availability of substitute products offering similar as well as more advanced and sophisticated features.

Increasing awareness about pet health and fitness among owners, especially in North America and Europe, is expected to fuel the demand for devices providing medical diagnosis. The medical diagnosis and treatment segment, in combination with the facilitation, safety, and security segment, is expected to account for over a quarter of the pet wearables market by 2024.

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Geographically, North America and Europe are expected to be the major markets for pet wearables, with a combined share of around 75% during the forecast period. Market penetration of pet wearables is relatively high across these regions owing to greater purchasing power and stringent regulations pertaining to treatment toward animals. The latter has compelled households with pets to purchase products such as bark collars and behavior modification devices. In addition, the availability of advanced wireless infrastructure and telecommunications technologies has catalyzed the adoption of GPS collars along with monitoring devices for pets. The prevailing technological know-how of mobile devices and interpretation of mobile data among prospective customers in these regions also plays a major role in the uptake of these devices across North America and Europe.

The Asia Pacific pet wearables market is projected to grow at a significant pace through 2024. GPS and RFID technology-based identification, tracking, behavior monitoring, and control are expected experience considerable demand during the forecast period. However, in terms of growth rate, the adoption of devices to ensure the safety and security of pets and to facilitate medical diagnosis and treatment is expected be the leading segment. The lack of advanced telecommunication infrastructure across major markets in the Asia-Pacific region has resulted in a relatively lower adoption of pet wearables and they are expected to gain traction only by the next decade.

Pet Wearable Market-Segmented by Applications such as Medical Diagnosis & Treatment, Behavior Monitoring & Control, Facilitation, Safety & Security, Identification and Tracking

Pet Wearable Market: Snapshot

Over the last couple of years, the advent of wearable technology and the ever-growing awareness about pet health, fitness, and safety have resulted in the emergence of pet wearables. The Pet wearable market is presently in its nascent stage and holds significant potential in the ensuing years. Transparency Market Research projects that the spending on pet wearables is likely to surpass that on pet food by 2017.

The global pet wearables market is estimated to be valued at US$1.0 bn by the end of 2016 and is expected to reach US$2.5 bn by 2024 at a 12.0% CAGR therein.

Availability of Advanced Substitutes Threatening Uptake of Identification and Tracking Devices for Pets

In terms of application, the pet wearable market is classified into identification and tracking, facilitation, safety, and security, behaviour monitoring and control, and medical diagnosis and treatment. So far, majority of the demand in the pet wearables market has been generated by the identification and tracking segment. However, the adoption rate of identification and tracking devices for pets and farm animals is projected to witness a marginal decline during the forecast period mainly due to the availability of substitute products offering similar as well as more advanced and sophisticated features.

Increasing awareness about pet health and fitness among owners, especially in North America and Europe, is expected to fuel the demand for devices providing medical diagnosis. The medical diagnosis and treatment segment, in combination with the facilitation, safety, and security segment, is expected to account for over a quarter of the pet wearables market by 2024.

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Stringent Regulations Pertaining to Treatment toward Animals Drives North America Pet Wearables Market

Geographically, North America and Europe are expected to be the major markets for pet wearables, with a combined share of around 75% during the forecast period. Market penetration of pet wearables is relatively high across these regions owing to greater purchasing power and stringent regulations pertaining to treatment toward animals. The latter has compelled households with pets to purchase products such as bark collars and behavior modification devices. In addition, the availability of advanced wireless infrastructure and telecommunications technologies has catalyzed the adoption of GPS collars along with monitoring devices for pets. The prevailing technological know-how of mobile devices and interpretation of mobile data among prospective customers in these regions also plays a major role in the uptake of these devices across North America and Europe.

The Asia Pacific pet wearables market is projected to grow at a significant pace through 2024. GPS and RFID technology-based identification, tracking, behavior monitoring, and control are expected experience considerable demand during the forecast period. However, in terms of growth rate, the adoption of devices to ensure the safety and security of pets and to facilitate medical diagnosis and treatment is expected be the leading segment. The lack of advanced telecommunication infrastructure across major markets in the Asia-Pacific region has resulted in a relatively lower adoption of pet wearables and they are expected to gain traction only by the next decade.

Some of the major players operating in the pet wearables market are DeLaval Inc. (Sweden), Loc8tor Ltd. (United Kingdom), Nedap N.V. (Netherlands), PetPace Ltd. (Burlington), Whistle Labs Inc. (United States), and IceRobotics Ltd (United Kingdom).

Pet Wearable Market -Trends and Forecast 2016-2024

Pet Wearable Market: Snapshot

Over the last couple of years, the advent of wearable technology and the ever-growing awareness about pet health, fitness, and safety have resulted in the emergence of pet wearables. The Pet wearable market is presently in its nascent stage and holds significant potential in the ensuing years. Transparency Market Research projects that the spending on pet wearables is likely to surpass that on pet food by 2017.

The global pet wearables market is estimated to be valued at US$1.0 bn by the end of 2016 and is expected to reach US$2.5 bn by 2024 at a 12.0% CAGR therein.

Availability of Advanced Substitutes Threatening Uptake of Identification and Tracking Devices for Pets

In terms of application, the pet wearable market is classified into identification and tracking, facilitation, safety, and security, behaviour monitoring and control, and medical diagnosis and treatment. So far, majority of the demand in the pet wearables market has been generated by the identification and tracking segment. However, the adoption rate of identification and tracking devices for pets and farm animals is projected to witness a marginal decline during the forecast period mainly due to the availability of substitute products offering similar as well as more advanced and sophisticated features.

Increasing awareness about pet health and fitness among owners, especially in North America and Europe, is expected to fuel the demand for devices providing medical diagnosis. The medical diagnosis and treatment segment, in combination with the facilitation, safety, and security segment, is expected to account for over a quarter of the pet wearables market by 2024.

Request A Sample Of This Report:

http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=12701

Stringent Regulations Pertaining to Treatment toward Animals Drives North America Pet Wearables Market

Geographically, North America and Europe are expected to be the major markets for pet wearables, with a combined share of around 75% during the forecast period. Market penetration of pet wearables is relatively high across these regions owing to greater purchasing power and stringent regulations pertaining to treatment toward animals. The latter has compelled households with pets to purchase products such as bark collars and behavior modification devices. In addition, the availability of advanced wireless infrastructure and telecommunications technologies has catalyzed the adoption of GPS collars along with monitoring devices for pets. The prevailing technological know-how of mobile devices and interpretation of mobile data among prospective customers in these regions also plays a major role in the uptake of these devices across North America and Europe.

The Asia Pacific pet wearables market is projected to grow at a significant pace through 2024. GPS and RFID technology-based identification, tracking, behavior monitoring, and control are expected experience considerable demand during the forecast period. However, in terms of growth rate, the adoption of devices to ensure the safety and security of pets and to facilitate medical diagnosis and treatment is expected be the leading segment. The lack of advanced telecommunication infrastructure across major markets in the Asia-Pacific region has resulted in a relatively lower adoption of pet wearables and they are expected to gain traction only by the next decade.