The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Surging Market Dynamics: A Snapshot

• The pet wearable market has witnessed rapid expansion.
• From $3.44 billion in 2023, it’s set to hit $4 billion in 2024, boasting a CAGR of 16.4%.
• The historic period’s growth stems from pet owner concerns, increased pet ownership, and wearable tech adoption.

Future Outlook: A Prognosis of Growth

• Forecasted to reach $7.61 billion by 2028, showcasing a CAGR of 17.4%.
• Expansion fueled by telemedicine, AI-driven behavior analysis, and smart pet products.
• Trends include wearables for specific pets, emotion recognition tech, and pet data marketplaces.

Pet Ownership Boom: Catalyst for Market Growth

• Global pet monitoring demand surge drives market expansion.
• The pandemic saw a surge in pet adoption globally.
• Figures from APPA National Pet Owners Survey and the Pet Food Manufacturers Association highlight increased pet acquisitions.
• Rising pet ownership translates to increased demand for pet wearables.

View More On The Pet Wearable Market Report 2024 – https://www.thebusinessresearchcompany.com/report/pet-wearable-global-market-report

Key Players: Driving Innovation

• Major companies like Allflex Inc., Garmin Ltd., FitBark Inc., among others, lead the market.
• Diverse offerings span smart collars, cameras, harnesses, and more.

IoT Revolutionizes Tracking Capabilities

• IoT technology integration enhances precision in pet tracking.
• GPS and cellular triangulation enable accurate location tracking.
• Advantages include geofencing notifications and extended battery life.
• Vodafone Group PLC’s Curve Smart GPS tracker exemplifies IoT’s potential.

Strategic Acquisitions: Shaping Market Landscape

• Life360 Inc.’s $37 million acquisition of Jiobit underscores market consolidation.
• Aims to solidify presence in family and pet wearables.
• Jiobit, known for wearable devices, adds to Life360’s portfolio.

Market Segmentation: Understanding the Landscape

• Product Types: Smart Collar, Smart Camera, Smart Harness, and Vest, among others.
• Technologies: RFID Devices, GPS, Sensor, Bluetooth, etc.
• Applications: Identification and Tracking, Monitoring and Control, Medical Diagnosis, and Treatment.

Regional Dynamics: North America Leads, Asia-Pacific Rises

• North America dominates the market in 2023.
• Asia-Pacific projected as the fastest-growing region.
• Market expansion reflects global interest in pet welfare and technology.

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The Pet Wearable Global Market Report 2024  provides comprehensive insights on the pet wearable market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the pet wearable market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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