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There is an increasing demand for smart pet collars with advanced health monitoring capabilities beyond basic activity tracking. This includes real-time monitoring of vital signs such as heart rate, respiratory rate, and temperature. Additionally, the Integration of artificial intelligence and machine learning algorithms to analyze health data and provide actionable insights to pet owners and veterinarians has become more prevalent in the last few years. For instance, in June 2023, Whistle Labs introduced a new smart pet collar product SKU called Health 2.0 Smart Device, which aids in monitoring the weight of the pet. It also helps in spotting skin and allergy symptoms. The device also keeps the vet doctors informed about the overall well-being of the pet.
Moreover, features such as behavioral training aids (e.g., remote sound/vibration cues) are gaining popularity as pet owners seek ways to positively influence their pets' behavior through technology.
The GPS segment in market accounted for around 50% share in 2023 due to its unique capabilities and advantages for pet tracking and location monitoring.
The smart pet collar market was valued at USD 1.9 billion in 2023 and is estimated to register over 12% CAGR between 2024 and 2032 driven by increasing pet ownership worldwide.
North America smart pet collar market held over 50% share in 2023, owing to higher pet ownership rates, and strong economic conditions.
FitBark, Garmin Ltd., Link AKC, Pawtrack, PetPace, PitPat, Pod Trackers, Tractive, Wagz Inc., and Whistle Labs