Global Pet Wearable Market Trends, Applications, Analysis, Growth, and Forecast: 2017 to 2026

MarketResearch.biz delivers in-depth insights on the global pet wearable market in its upcoming report titled, “Global Pet Wearable Market Trends, Applications, Analysis, Growth, and Forecast: 2017 to 2026”. The global pet wearable market is estimated to register a CAGR of X.X% in terms of value during forecast period 2017–2026. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2026. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global pet wearable market report has been segmented on the basis of technology, application, and region.

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Pet Wearable devices are used for various pet application. They also help humans keep a track on the daily activities of their pet.

Rising disposable income among individuals leading to increasing spending capacity on pet and increasing awareness among pet owners about different wearables that help to detect early stages of various chronic diseases related to heart, lungs and kidney are major factors driving growth of the global pet wearable market. In addition, increasing government expenditure on study on behavioral monitoring and medical diagnosis and treatment of pet and technological advancements in electronic devices such as miniaturization demand for wearable devices with RFID, GPS and sensors are other factors expected to boost growth of the global pet wearable market. Moreover, pet wearables having wide applications such as identification and tracking, safety and security of pet, etc. is another factor expected to support growth of the global pet wearable market.

However, high cost of wearable devices is a major factor restraining growth of the global pet wearable market. In addition, lack of wireless infrastructure related to veterinary in developing countries is expected to support growth of the global pet wearable market to certain extent.

Technological advancements and increasing R&D activities by manufacturers is expected to create new opportunities in terms of revenue to players operating in the global pet wearable market over the forecast period.

The market in North America is expected to dominate the global pet wearable market in terms of revenue as compared to that of the markets in other regions. North America market is expected to continue its dominance in the global pet wearable market over the forecast period. This can be attributed to well-developed healthcare infrastructure related to pets, increasing government expenditure on veterinary industry, and presence of prominent market players operating in this region. According to U.S. bureau of Labor of statics, there are about 218 million pets in the United States. In addition, in 2011 Americans spent approximately $61.4 billion in total on pets. Asia Pacific market is expected to account for significant revenue share to the global pet wearable market, owing to rising disposable income among middle class, increasing government expenditure on pet healthcare and increasing number of pet ownership in countries such as India and Chain in this region.

Global Pet Wearable Market Segmentation:

By Technology:

• RFID
• GPS
• Sensors

By Application:

• Identification & tracking
• Behavior monitoring & control
• Facilitation, safety & security
• Medical diagnosis & treatment

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa