U.S. pet wearable market share by technology, 2012 – 2022 (USD Million)
- In 2014, GPS captured a sizeable market share accounting for over 30% of the overall revenue. This segment is being viewed as a lucrative technology. Need for Real Time Location System (RTLS) has led to increased demand
- RFID tagging is projected to be subsumed by diagnostic devices such as the available stomach boluses, implants and collars. Tagging of varied forms of livestock in certain jurisdiction is expected to offer lucrative opportunities for industry growth. It is projected that by 2016, over 420 million tags will be used for tagging the animals across the world
- Behavior monitoring & control systems anticipated to witness high growth over the forecast period. It involves video monitoring solutions along with non-invasive sensors attached to a collar to measure behavior, and transmitting alerts the owner. Safety & security devices use GPS technology which provides real-time locations and allows the user to create the virtual boundary for roaming for their pets
- North America pet wearable market is estimated to grow at a CAGR of over 12.0% from 2015 to 2022. This can be primarily attributed to increasing adoption of GPS collars with activity and fitness monitoring devices along with availability of advanced infrastructure.
- Europe pet wearable market is anticipated to witness substantial growth owing to increasing adoption and awareness of these technologies and large number of cattle breeding and heat detection devices. Further existence of key players from this region is estimated to proliferate growth across the European region
- Notable companies operating in the pet wearable market, include Whistle LLC, FitBark, i4C Innovations, DeLaval, PetPace. Emerging trend of these devices is being adopted by a large number of start-ups and small players. Animal trackers and activity monitors are anticipated to be the focus of these players.