According to a recent market report, the global smart-connected pet collar industry saw a value of US$ 414.4 Million in 2021. The report projects that the market will continue to expand, with a Compound Annual Growth Rate (CAGR) of 8.83% expected during 2022-2027. By the end of 2027, the market is anticipated to reach a value of US$ 684.1 Million. The report analyzes various aspects of the industry, including market size, share, growth, and trends, along with highlighting opportunities and challenges. The increasing demand for smart pet collars, which come equipped with features such as GPS tracking, activity monitoring, and remote training, is expected to be the primary factor driving market growth in the years ahead.
Smart-connected pet collars are a technological innovation designed to monitor pets’ activities through connected smartphones. These collars come equipped with features such as Wi-Fi, global positioning systems (GPS), Bluetooth, and long-term evolution (LTE) connectivity, which enable pet owners to monitor their pets’ activities remotely and address potential health issues proactively. These collars provide valuable insights such as heart rate, temperature, respiratory rates, total time of movement, and the location of pets, allowing pet owners to track their pets’ well-being effectively. Furthermore, these collars are convenient, comfortable, waterproof, encourage good behavior, protect against thefts, easy to manage, and help maintain the overall fitness of pets. Due to these benefits, pet collars are gaining immense popularity among pet owners and can be easily found in both offline and online stores worldwide.
The global smart connected pet collar market is witnessing significant growth, primarily driven by the increasing adoption of pets and the growing concerns of pet owners about their pets’ health and wellness. The market is also being propelled by the rising prevalence of zoonotic diseases among pets. The integration of advanced features, such as built-in microphones and speakers, cameras, and barking detection algorithms, are also contributing to the market’s growth. In addition, key market players are introducing geofence settings and flashing LED warning lights, which are further driving the market’s growth. The market is also being fueled by extensive investment in R&D activities, a rise in animal healthcare expenditure, the advent of 5G technology, and the surging trend of pet humanization. All these factors are expected to create a favorable market outlook, and the market is projected to grow at a CAGR of 8.83% during the forecast period of 2022-2027.
The report provides detailed profiles of the key players operating in the smart connected pet collar market. These include Eureka Technology Partners, FitBark Inc., Garmin Ltd., Mars Incorporated, PetPace, Radio Systems Corporation, RAWR Inc, Scollar Inc., Tractive, and Wagz Inc. The profiles cover company overview, product portfolio, financial overview, and recent developments, such as mergers and acquisitions, partnerships, collaborations, and new product launches.
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