Pet Wearable Market Size (2024 - 2029)

The pet wearable market is anticipated to experience substantial growth over the forecast period, driven by increased awareness of pet health and safety, the rising adoption of IoT, and technological advancements. The COVID-19 pandemic played a significant role in boosting pet adoption, which in turn heightened the demand for devices that monitor and ensure the well-being of pets. The market's expansion is further supported by innovations in pet health technology, although challenges such as device battery life and high production costs may hinder growth.

Market Size of Pet Wearable Industry

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Pet Wearable Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
CAGR 8.49 %
Fastest Growing Market Asia-Pacific
Largest Market North America

Major Players

Pet Wearable Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Pet Wearable Market Analysis

Over the next five years, the pet wearables market is expected to register a CAGR of 8.49%.

The COVID-19 pandemic impacted the global healthcare system, which in turn impacted the pet wearable market. Pet adoption increased tremendously during the pandemic, resulting in increased animal health care and thus driving the growth of the pet wearable market. For instance, an article published by Frontiers in Veterinary Medicine in May 2021 stated that several countries, including Canada, showed that pet adoption peaked during the early phase of the pandemic (between April and May 2020). Thus, COVID-19 increased pet adoption, which increased the demand for identification, tracking, monitoring, controlling, medical diagnosis, treatment, facilitation, safety, and security of pets. Since pet wearable devices offer all these benefits, the COVID-19 pandemic sparked a surge in demand for pet wearable devices. However, in the current scenario, with the significant increase in pet adoption trends, the demand for pet wearable devices is expected to increase significantly over the forecast period.

The factors that are driving the growth of the studied market are an increase in awareness about pets' physical and mental fitness, the rising adoption of IoT, a growth in demand for pet monitoring, and technological advancements. For example, the Pet Food Manufacturers Association (United Kingdom) predicted that 17 million (59% of) households would own pets in 2021.This increasing number of pet owners is more concerned about the safety of their pets, and the pet owner population has become more aware of the safety of their pets, thereby driving the growth of the studied market.

The increasing number of pet owners, especially among millennials, is driving the demand for pet monitoring. For instance, in November 2021, an article published by Plug and Play stated that with the advancements in the pet health industry, owners are now able to track almost every aspect of their pet's health using everything from smart health monitoring platforms to wearable devices. This adoption of advancements among pet owners for the safety of their pets is anticipated to drive market growth.

Additionally, using pet wearables offers benefits, such as connecting humans to their pets to track their daily activities and health using these devices. This monitoring generates data for food intake, heart and respiratory rates, and patterns and calories burned by pets during the day. The data generated by these devices is used to analyze pets' health. The technological advancements in the market are further expected to positively impact the market studied. For instance, in June 2022, Furbo launched a 360-degree dog camera that rotates 360 degrees at its base to follow the active pup while offering a wide-angle lens, colored night vision, and auto dog tracking. The camera can be moved through the app's controls. Such product innovation is expected to drive the market studied significantly.

Thus, due to the increase in awareness about pets' physical and mental fitness and the rising adoption of IoT, growth in demand for pet monitoring, and technological advancements, the studied market is expected to witness significant growth over the forecast period. However, device battery life and high production costs are expected to limit market growth during the study period.

Pet Wearable Industry Segmentation

As per the scope of the report, "pet wearables" refer to devices worn on the pet's body to serve various purposes, such as identification, tracking, monitoring, controlling, medical diagnosis, treatment, facilitation, safety, and security. The pet wearable market is segmented by product (smart collars, smart cameras, smart harnesses, and smart vests), application (identification and tracking, monitoring and control, medical diagnosis and treatment, and other applications), animal type (dogs, cats, and other animals), and geography (North America, Europe, Asia-Pacific, the Middle East and Africa, and South America). The report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers a value (USD million) for the above segments.

By Product
Smart Collar
Smart Camera
Smart Harness and Vest
Other Products
By Application
Identification and Tracking
Monitoring and Control
Medical Diagnosis and Treatment
Other Applications
By Animal Type
Dogs
Cats
Other Animals
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America
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Pet Wearable Market Size Summary

The pet wearable market is poised for substantial growth over the forecast period, driven by increased pet adoption and heightened awareness of pet health and safety. The COVID-19 pandemic significantly boosted pet ownership, leading to a surge in demand for devices that offer identification, tracking, monitoring, and health management for pets. This trend is further supported by the rising adoption of IoT technologies and advancements in pet monitoring solutions, which cater to the growing concerns of pet owners, particularly millennials. The market is characterized by innovative product launches, such as smart collars and health monitoring devices, which enhance the connection between pets and their owners by providing real-time data on various health metrics. Despite challenges like device battery life and production costs, the market is expected to expand significantly, with the identification and tracking segment experiencing notable growth due to the widespread use of GPS-enabled wearables.

North America is anticipated to be a key region for market growth, fueled by a high rate of pet ownership, disposable income, and per capita animal healthcare expenditure. The region's tech-savvy population and increasing awareness of pet health further contribute to the demand for advanced pet wearables. The presence of major industry players and continuous product innovation, such as the introduction of smart collars with GPS tracking and health monitoring features, are expected to drive market expansion. The competitive landscape is marked by numerous global and regional players, including Latsen Technology Limited, Tractive, and Garmin Ltd., who are actively launching new products to capture market share. As pet owners increasingly seek solutions to ensure their pets' safety and well-being, the pet wearable market is set to witness significant growth, with North America leading the charge.

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Pet Wearable Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Increase in Awareness about Pet's Physical and Mental Fitness and Rising Adoption of IoT

      2. 1.2.2 Growth in Demand for Pet Monitoring

      3. 1.2.3 Technological Advancements

    3. 1.3 Market Restraints

      1. 1.3.1 Battery Life Issues of Devices

      2. 1.3.2 High Cost of Products

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value - USD million)

    1. 2.1 By Product

      1. 2.1.1 Smart Collar

      2. 2.1.2 Smart Camera

      3. 2.1.3 Smart Harness and Vest

      4. 2.1.4 Other Products

    2. 2.2 By Application

      1. 2.2.1 Identification and Tracking

      2. 2.2.2 Monitoring and Control

      3. 2.2.3 Medical Diagnosis and Treatment

      4. 2.2.4 Other Applications

    3. 2.3 By Animal Type

      1. 2.3.1 Dogs

      2. 2.3.2 Cats

      3. 2.3.3 Other Animals

    4. 2.4 Geography

      1. 2.4.1 North America

        1. 2.4.1.1 United States

        2. 2.4.1.2 Canada

        3. 2.4.1.3 Mexico

      2. 2.4.2 Europe

        1. 2.4.2.1 Germany

        2. 2.4.2.2 United Kingdom

        3. 2.4.2.3 France

        4. 2.4.2.4 Italy

        5. 2.4.2.5 Spain

        6. 2.4.2.6 Rest of Europe

      3. 2.4.3 Asia-Pacific

        1. 2.4.3.1 China

        2. 2.4.3.2 Japan

        3. 2.4.3.3 India

        4. 2.4.3.4 Australia

        5. 2.4.3.5 South Korea

        6. 2.4.3.6 Rest of Asia-Pacific

      4. 2.4.4 Middle East and Africa

        1. 2.4.4.1 GCC

        2. 2.4.4.2 South Africa

        3. 2.4.4.3 Rest of Middle East and Africa

      5. 2.4.5 South America

        1. 2.4.5.1 Brazil

        2. 2.4.5.2 Argentina

        3. 2.4.5.3 Rest of South America

Pet Wearable Market Size FAQs

The Pet Wearable Market is projected to register a CAGR of 8.49% during the forecast period (2024-2029)

Dogtra, Fitbark Inc., Mars, Incorporated (Whistle), Loc8tor Ltd. and Garmin Ltd are the major companies operating in the Pet Wearable Market.

Pet Wearable Market Analysis - Industry Growth, Size & Forecast Report (2024 - 2029)