DUBLIN, Jan. 18, 2021 /PRNewswire/ — The “Pet Wearables Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2020 To 2028” report has been added to ResearchAndMarkets.com’s offering.
The study covers the comparative analysis of different segments for the years 2019 & 2028. The report also provides a prolific view on market dynamics such as market drivers, restraints, and opportunities. In addition, the report covers a section providing production and pricing trends in some of the major markets.
Pet wearables are primarily smart trackers and monitors embedded into small gadgets that can be worn by pets. Pet wearables are widely used across the world for applications such as pet tracking, health monitoring, and emergency notifications. Pet wearables make use of various technologies including global positioning systems (GPS), radio frequency identification (RFID), sensors (proximity sensors, accelerometers, temperature and pressure sensors, heart rate monitors, etc.), Bluetooth, and cellular connections, among others. Thereby, with the incorporation of several technologies, pet wearable manufacturers are able to offer a wide array of applications to their consumers.
One of the major factors driving the growth in the pet wearables market is the technological advancements in communication and sensor technologies. The increasing popularity of wearable technology for humans has paved the way for various wearable products for pets. In addition, with decreasing costs for various sensors, pet wearable manufacturers have been able to incorporate numerous features and functions into singular products at affordable prices.
Other technological factors resulting in higher adoption of pet wearable technology include growing demand for smart connected homes. Consumers from most of the developed markets in the North America and Europe region demand interconnectivity between various home systems enabling the inclusion of pet monitoring and feeding systems. In addition, an increasing number of people are spending more time at home with their pets during the ongoing COVID-19 pandemic, resulting in increasing expenditure towards overall pet products.
With decreasing costs of various sensors coupled with increasing demand for pet health monitoring solutions, the sensors segment is expected to witness the fastest growth during the forecast period from 2020 to 2028. The usage of various types of sensors enables pet owners to monitor and track numerous health aspects of their pets and gain useful insights pertaining to their fitness and physical wellbeing. Thereby, pet wearables are expected to witness the growing incorporation of sensors in the following years.
In 2019, North America represented the largest market for pet wearables, in terms of revenue. The demand for…
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