The future of the global pet wearable market looks promising with opportunities in the identification & tracking, behavior monitoring & control, facilitation, safety & security, and medical diagnosis & treatment markets. The global pet wearable market is expected to reach an estimated $5.7 billion by 2030 with a CAGR of 12.5% from 2024 to 2030. The major drivers for this market are increase in pet ownership and rising emphasis on pet health and wellness.
Some of the key questions
answered in this exclusive report are:
Q.1. What are some of
the most promising, high-growth opportunities for the pet wearable market by
technology (RFID, GPS, and sensors), application (identification &
tracking, behavior monitoring & control, facilitation, safety &
security, and medical diagnosis & treatment), and region (North America,
Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will
grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and
why?
Q.4. What are the key
factors affecting market dynamics? What are the key challenges and business
risks in this market?
Q.5. What are the
business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market
and the reasons behind them?
Q.7. What are some of
the changing demands of customers in the market?
Q.8. What are the new
developments in the market? Which companies are leading these developments?
Q.9. Who are the major
players in this market? What strategic initiatives are key players pursuing for
business growth?
Q.10. What are some of
the competing products in this market and how big of a threat do they pose for
loss of market share by material or product substitution?
Q.11. What M&A
activity has occurred in the last 5 years and what has its impact been on the
industry?
Market Segmentation:
In this market, RFID,
GPS, and sensor are the major segments of pet wearable market by technology.
Lucintel forecasts that RFID will remain the largest segment due to it's
accuracy and dependability assist in tracking health-related factors like heart
rate variability, caloric intake, body temperature, and pulse of pets. Within
this market, identification & tracking will remain the largest segment due
to the growing concern of pet owners about the safety of their pets and the
desire to be able to track their location in case they get lost or stolen.
North America will
remain the largest region due to the high disposable incomes of pet owners,
increasing spending on pet healthcare, and rising trend of pet adoption &
humanization in the region.
Allflex, Avid
Identification Systems, Datamars, Fitbark, Garmin, Intervet, Invisible Fence,
Konectera, Nuzzle, and Petpace are the major suppliers in the pet wearable
market.
About
Lucintel
Lucintel, the premier global
management consulting and market research firm, creates winning strategies for
growth. It offers market assessments, competitive analysis, opportunity
analysis, growth
consulting, M&A, and due diligence services to executives and
key decision-makers in a variety of industries.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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