The commercial pet wearable market is expected to witness high growth in the coming years. Most wearable devices for horses and livestock are used to identify animals and monitor their health conditions. Several companies have developed products for the commercial end-user segment with GPS tracking capability. These devices are offering full range of integrated GPS equipment’s for horses as well as livestock and are helping monitor predator activity, health conditions and creating invisible fences which help limit the range of livestock.
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The extensive penetration of IoT has revolutionized almost every marketplace, pet wearable market being no exception. Wearable technology has indeed expended its application matrix beyond humans, which is quite evident from the large sales of pet wearable across the world. Statistics validating the fact- global pet wearable shipments have been claimed to exceed 5 million units in 2016, and the overall shipments is forecast to grow more than 25% over 2017-2024. Leading animal health giants are being witnessed making smart investments in this industry in sync with the latest technological innovations. Global Market Insights Inc. forecast that pet wearable industry will record a valuation of USD 8 billion by the end of 2024.
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 wearable 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.
Smart collars in the pet wearable 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 wearable 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.
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Key players operating in the pet wearable market include Nedap N.V., Silent Herdsman Limited, Scollar Inc., Pet Vu Inc., DeLaval, Inc., Dairymaster, PetPace, Otto Petcare, Motorola, Ridogulous Labs, Garmin, FitBark, i4c Innovations, Tagg, Whistle Labs Inc, Loc8tor, and IceRobotics, among others. Companies are investing in R&D operations to provide affordable products to the customers with comparatively low-income levels in North America and Europe.
Major Key Points from Table of Content:
Chapter 4 Pet Wearable Market, By Technology
4.1 Pet wearable market share by technology, 2016 & 2024
4.2 RFID devices
4.2.1 Market estimates and forecast, by region, 2013 – 2024 (USD Million)
4.2.2 Market estimates and forecast, by region, 2013 – 2024 (Thousand Units)
4.3.1 Market estimates and forecast, by region, 2013 – 2024 (USD Million)
4.3.2 Market estimates and forecast, by region, 2013 – 2024 (Thousand Units)
4.4.1 Market estimates and forecast, by region, 2013 – 2024 (USD Million)
4.4.2 Market estimates and forecast, by region, 2013 – 2024 (Thousand Units)
4.5.1 Market estimates and forecast, by region, 2013 – 2024 (USD Million)
4.5.2 Market estimates and forecast, by region, 2013 – 2024 (Thousand Units)
4.6.1 Market estimates and forecast, by region, 2013 – 2024 (USD Million)
4.6.2 Market estimates and forecast, by region, 2013 – 2024 (Thousand Units)
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