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Pet Wearable Market Size - By Product (Smart Collar, Smart Vest, Smart Harness, Smart Camera), By Technology (RFID Devices, GPS, Sensors, Bluetooth), By End Use (Household, Commercial), By Application & Forecast, 2024 - 2032
Report ID: GMI151
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Published Date: July 2024
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Report Format: PDF
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Premium Report Details
Base Year: 2023
Companies covered: 14
Tables & Figures: 340
Countries covered: 24
Pages: 320
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Pet Wearable Market Size
Pet Wearable Market size was valued at USD 4.8 billion in 2023 and is estimated to register a CAGR of 15.5% between 2024 and 2032. According to the Health for Animals Organization, globally there are over a billion pets, with the U.S., Brazil, the E.U., and China owning majority of them. This rising number has been attributed to the reducing family sizes and people opting for furry family members instead. With these growing numbers, the demand for pet care services is also experiencing an upward trend.
Wearable devices, such as fitness trackers and health monitors, enable pet owners to monitor their animals' heart rates, activity levels, sleep habits, and caloric expenditure. This information is useful for evaluating general fitness and recognizing possible health problems beforehand. For instance, in March 2024, PetPace launched its PetPace 2.0 collar, an AI-powered smart dog collar that provides continuous, real-time medical insights for early detection, treatment, monitoring, and GPS tracking of a dog's health. The collar measures various vital signs and health-related biometrics, including internal temperature, pulse, respiratory rate, heart rate variability, behavior, sleep quality, activity, and posture. It also has a patent-pending pain indicator, health profile, wellness index, and workout intensity assessment.
Moreover, remote monitoring enables pet owners to ensure the safety and security of their pets even when left personally unsupervised. Wearables with geofencing features can alert owners when pets wander outside predefined safe zones, reducing the risk of loss/injury. These wearables connect with smart home appliances & mobile apps to provide easy access to data and alarms in real-time. This connectedness promotes cooperative pet care management by facilitating smooth communication between pet owners, veterinarians, and caretakers.
A major factor restricting the adoption of pet wearables is their high costs. High-priced pet wearables can deter pet owners on a tight budget from purchasing these products, particularly when the costs are perceived as exorbitant, or the benefits are seen as limited. Additionally, high costs can restrict market penetration and prevent pet wearables from being adopted by individuals without discretionary income or by those who own expensive pets.
Pet Wearable Market Trends
The demand for pet wearables that monitor and track pets' health metrics, such as activity levels, heart rate, sleep patterns, and calories burned, is witnessing an increasing trend. These devices help pet owners assess their pets' overall health, detect early signs of illness, and promote active lifestyles. Additionally, wearable devices that record information on the behavioral patterns of pets, including activity peaks, rest intervals, and behavioral changes, are becoming increasingly popular. These insights assist pet owners in understanding the emotional health of their pets, locating stressors, and resolving their behavioral problems.
Pet wearables are increasingly utilized to supplement veterinary treatment by giving vets access to extensive health data and insights. This enables early diagnosis of chronic illnesses, the creation of individualized treatment regimens, and continuous monitoring. This shift toward personalized pet care drives the demand for wearables that offer tailored health recommendations based on individual pet data. This trend enhances overall pet welfare and encourages preventative health care.
Pet Wearable Market Analysis
Based on technology, the market is divided into RFID devices, GPS, sensors and Bluetooth. In 2023, the sensor segment accounted for a market share of over 10%. Sensors enable constant monitoring of vital indicators, including temperature, heart rate, and breathing rate. Using this real-time data, doctors and pet owners can monitor the health of their animals, identify irregularities early on, and act accordingly. Some wearables include sensors that track environmental factors such as UV exposure, humidity, and temperature. This information assists pet owners in providing the ideal living environment for their pets and protects them from potential hazards.
Based on application, the pet wearable market is categorized into medical diagnosis & treatment, identification & tracking, fitness monitoring, and behavior monitoring & control. The fitness monitoring segment is expected to hold over USD 5.8 billion by 2032. The demand for fitness monitoring devices is growing as it helps pet owners to take an active role in their pets' health by monitoring their progress, setting and reaching goals, and acknowledging accomplishments.
Additionally, it has been observed in the past few years that pet obesity is a growing issue globally. Devices such as fitness monitors enable pet owners to monitor the level of activity, calories burnt, and exercise routines of their pets, thereby aiding in weight management and the avoidance of health problems linked to obesity/other such health problems.
In 2023, North America dominated the pet wearable market with over 58% of the market share. The U.S. is home to many pets and the country ranks first in terms of spending on pets. Pets are increasingly being considered as family members, increasing investments in their welfare. Pet owners are open to using technological solutions, such as wearables that can track pets’ activities and health, improving their quality of life.
Additionally, pet wearables are going through several important technological developments, including increased sensor accuracy, longer battery life, and better communication with smart devices and mobile apps. Wearables are becoming more dependable and enticing to tech-savvy pet owners owing to these technological improvements.
Europe is also witnessing a growing trend of pet adoption and considering them as their family members rather than their pets. The pet wearable market in this region is growing, as a result of heightened manufacturer competition and the release of new goods with cutting-edge features. This competition leads to improved product offerings and greater consumer choice.
Asia Pacific countries are experiencing an increase in the trend of pet ownership, which is being fueled by changing lifestyles, urbanization, and rising disposable incomes. There is a growing trend of pet ownership and a corresponding interest in wearables and other technologies that can improve the safety and well-being of their pets.
Pet Wearable Market Share
Wagz Inc. and Whistle Labs are significant players, holding below 2% of the global pet wearable industry. Whistle Labs incorporates cutting-edge sensor technology into their wearables for pets to monitor a range of health indicators, including activity levels, sleep habits, and location tracking. Through mobile apps and online platforms, this assists pet owners in remotely managing and keeping an eye on the health of their animals.
Wagz Inc. is known for creating hardware-software integrated pet care solutions that improve pet owners' capacity to watch over and take care of their animals. This covers items such as pet doors, smart feeds, and maybe wearable pet technology.
Pet Wearable Market Companies
Major players operating in the pet wearable industry are:
Pet Wearable Industry News
The pet wearable market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD billion) and shipments (Units) from 2021 to 2032, for the following segments:
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Market, By Product
Market, By Technology
Market, By Application
Market, By End-use
The above information is provided for the following regions and countries: