DUBLIN--(BUSINESS WIRE)--The "U.S. Pet Wearable Market Size, Share & Trends Analysis Report By Technology (RFID, GPS, Sensors), By Application (Identification & Tracking, Medical Diagnosis & Treatment), And Segment Forecasts, 2021 - 2028" report has been added to ResearchAndMarkets.com's offering.
The U.S. pet wearable market size is forecast to reach USD 1.63 billion by 2028, registering a CAGR of 12.9% from 2021 to 2028.
The rising levels of disposable income, the growing purchasing power of consumers, and subsequently the increasing spending on pets are some of the key factors that are expected to drive the growth of the market over the forecast period. The strong emphasis that pet owners in the U.S. are putting on investing in pet wearable devices to keep their pets happy, healthy, and safe is supporting the market growth.
According to the American Pet Products Association (APPA), pet owners in the U.S. spent around USD 99 billion on their pets in 2020 as against USD 69.4 billion in 2017. Out of that total expenditure, USD 40.9 billion were spent on veterinary care, insurance, pet wearable devices, grooming, and training. The growing popularity of pet wearable devices is particularly opening opportunities for introducing pet wearable devices based on IoT technology.
The pet wearable market is still in the nascent stage. However, manufacturers are focusing on developing new and innovative products capable of gathering the health metrics of pets, which can be very beneficial to veterinarians. Pet care companies are spending on pet care hospitals to offer collaborative services to pet owners. For instance, in August 2019, Petco Animal Supplies Inc. expanded the footprints of their in-store veterinary clinics and hospitals in the U.S.
Some of the dominant players in the market include Konectera Inc.; Datamars; Allflex USA Inc.; Avid Identification Systems, Inc.; Intervet Inc.; FitBark; Garmin Ltd.; Link AKC; and Invisible Fence.
These players focus on new product launches, mergers and acquisitions, and strategic partnerships and collaborations to enhance their product offerings.
U.S. Pet Wearable Market Report Highlights
- The GPS segment dominated the market in 2020 with a revenue share of 44.4%. The growing instances of missing pets in the U.S. is driving the use of GPS-based pet wearable devices that can help in tracking a missing pet.
- The identification and tracking segment dominated the market in 2020 and is projected to reach USD 0.94 billion by 2028. The wearable can help animal rescue in identifying the pet and its owner and return the pet to the rightful owner.
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. U.S. Pet Wearable Market Variables, Trends, and Scope
3.1. Penetration and Growth Prospect Mapping
3.2. Market Dynamics
3.2.1. Market Driver Analysis
3.2.2. Market Challenge Analysis
3.3. Industry Value Chain Analysis
3.4. Business Environment Analysis Tools
3.4.1. Industry Analysis - Porter's Five Forces Analysis
3.4.2. PEST Analysis
3.5. U.S. Pet Wearable Market: Key Company Analysis, 2020
3.6. Impact of COVID-19 on the U.S. Pet Wearable Market
Chapter 4. U.S. Pet Wearable Market Technology Segment Analysis
4.1.1. RFID U.S. Pet Wearable Market, 2018 - 2028 (USD Million)
Chapter 5. U.S. Pet Wearable Market Application Segment Analysis
5.1. Identification & Tracking
5.1.1. Identification & Tracking U.S. Pet Wearable Market, 2018 - 2028 (USD Million)
5.2. Behavior Monitoring & Control
5.3. Facilitation, Safety & Security
5.4. Medical Diagnosis & Treatment
Chapter 6. Competitive Landscape
6.1. Company Overview
6.2. Financial Performance
6.3. Product Benchmarking
6.4. Strategic Initiatives
- Allflex USA Inc.
- Avid Identification Systems, Inc.
- Garmin Ltd.
- Intervet Inc.
- Invisible Fence
- Konectera Inc.
- Link AKC
- Loc8tor Ltd.
- PetPace LLC
- Ridogulous Labs Inc.
- Trovan Ltd.
- Whistle Labs, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/px2agw.