© 2016 Global Market Insights, Inc. USA. All Rights Reserved Pet Wearable Market to grow at 20% CAGR from 2017 to 2024: Global Market Insights Inc.

© 2016 Global Market Insights, Inc. USA. All Rights Reserved  The Pet Wearable Market trends are analyzed from recent past with an eye on coming years in this report that also offers projections for Pet Wearable industry targeted at helping in business decisions.Pet Wearable Market  Pet Wearable Market size is set to exceed USD 8 billion by 2024; according to a new research report by Global Market Insights, Inc. The global shipments are forecast to grow at over 25% CAGR from 2017 to  The increasing disposable income and growing adoption of pets in several households is expected to drive the pet wearable market over the forecast timeframe. According to American Pet Products Association (APPA), over 65% of American households own a pet. The owners are increasing their spending on smart products that can be controlled remotely and monitor their pet’s health and fitness. Moreover, safety is primary for the owners while buying product such as collars, harness and vest for their pets. This is encouraging players to manufacture products that are safer for both owners and pets driving the high adoption rate. It is estimated that by 2024, owners will increase their spending on pets by 55% in countries such as the U.S., Canada, UK, Germany and Australia. Key Insights from Pet Wearable Market :

© 2016 Global Market Insights, Inc. USA. All Rights Reserved  Increasing awareness towards pet fitness & health is expected to offer significant prospects for the development of innovative products for the pet wearable market. As owners look to pamper their pets, they will invest more in high-quality activity monitoring products. Demand for GPS based products has witnessed considerable rise over the years due to the increase in penetration of mapping applications & smartphones coupled with the growing need for tracking and real-time positioning of pets across the globe. In addition, service providers have developed strategic agreements with application developers, smartphone manufacturers, and stores to increase the usage of GPS in innovative applications which is anticipated to escalate pet wearable market size.  Smart cameras accounted for more than 25% of the overall pet wearable market share in The cameras monitor the pet’s outdoor activity and are help owners to keep track of their pets when they are away. Owners buying the smart cameras are valuing the interactivity of the products which are enabled by its laser toy and two- way audio features. Continued...

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© 2016 Global Market Insights, Inc. USA. All Rights Reserved  Medical diagnostic tagging accounted for more than 30% of the pet wearable market share in Medical treatments which use electrics and electronics is steadily being adopted to monitor cooling, heating, and drug delivery in animals. The animals which are most likely to employ wearable devices in high volume are controlled by humans include dairy cows, horses, cats and dogs which is anticipated to increase the global volume sales.  Asia Pacific pet wearable market is anticipated to witness considerable growth owing to cheap labor and presence of manufacturing plants in countries such as China, and Taiwan. There are currently about 300 manufacturers in the pet wearable market in the world, with a high percentage of them based in China, making very basic devices at the lowest price. Increased adoption and sales of GPS-based products in the region will encourage the industry demand.  The players operating in the pet wearable market include Dairymaster, DeLaval, Inc., Whistle Labs Inc., Nedap N.V., Scollar, Pet Vu Inc., and Fitbark, etc. The industry is extremely competitive which will lead to consolidation in the next seven years. Continued...

© 2016 Global Market Insights, Inc. USA. All Rights Reserved U.S. Pet Wearable Market Size, By Product, 2016 & 2024 ($Mn)

© 2016 Global Market Insights, Inc. USA. All Rights Reserved  By Technology The RFID technology dominated the pet wearable market in The rising trend of adopting RFID tags for pet and livestock tracking is a key factor which is driving the RFID demand. These devices are designed for low and ultra-high frequencies. The vital applications for RFID are in animal tracking, and recording constant readings of daily activities.  By Application Identification & tracking applications accounted for more than 40% of the overall pet wearable market share in The demand for wearables in this application has mainly been coming from pets and dairy animals. RFID devices are aiding in safeguarding and managing pets and livestock, while certifying reliable RFID tracking performance and animal identification. Developments in smart devices featuring instant tracking through mapping applications is also projected to play a key role in the rising industry penetration.  Competitive Market Share The industry players include Tagg, Dropcam (Nest), Whistle Labs Inc., i4c Innovations, FitBark, Garmin, High Tech Pet Products, Invisible Fence, Ridogulous Labs, Motorola, Dairymaster, DeLaval, Inc., Otto Petcare, PetPace, Silent Herdsman Limited, Nedap, Loc8tor, Pet Vu Inc., and IceRobotics, etc. 360° Analysis

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