WILMINGTON, DE / ACCESSWIRE / September 13, 2022 / United States Transparency Market Research Inc. - The last few years have witnessed an increase in pet ownership, globally. Factors such as remote working owing to the outbreak of COVID-19 pandemic have led to increasing families purchasing pets for companionship at residences. Demand for pet wearable products has risen significantly because of rise in pet ownerships in both developed and developing economies, worldwide. As per a TMR study, the global pet wearable market is expected to expand at CAGR of 8.5% between 2021 and 2031. Furthermore, pet wearable manufacturers are increasing the production of products in a bid to improve product sales which could assist pet owners to track health conditions of different animals such as cats and dogs.
New pet wearable product launches are helping well-established pet wearable market players in creating revenue-generating opportunities and in gaining a competitive edge over other players. South Korean start-up enterprise Petpuls Lab, in January 2021, announced the launch of new dog collar, powered by artificial intelligence.
The product has proven beneficial in detecting five different emotions in dogs by monitoring their barks using voice recognition technology. Prominent pet wearable market players are also engaging in growth strategy such as signing collaborative agreements with smaller players which are assisting the players in expanding their presence in global market and increasing their revenue shares. Furthermore, wearable device products such as Apple HealthKit and FitBit are showing capability of synchronizing with new pet sleep trackers which is assisting in identifying health disorders in pets.
Request Sample Report at - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=12701
Key Findings of Pet Wearable Market Study
- Rising Wearable Technology Demand Triggering Growth in Overall Market: Pet owners worldwide are adopting wearable technology since they offer extensive range of applications such as identification, behavior monitoring, pet safety, and detection of medical disorders. Furthermore, wearable technology has proven beneficial in monitoring pet patterns such as amount of calories burnt and heart monitoring. Integration of general positioning systems and radio frequency identification in pet wearables is also triggering product demand. Increasing consumer demand for wearable technology is augmenting the growth in global pet wearable market
- Increasing Demand for Collar-worn Pet Wearable Devices Augmenting Growth in Global Market: Collar-worn wearable devices are witnessing increased demand, globally. Collar-worn wearable devices have proven beneficial in monitoring health behavior of pet animals and detecting the presence of medical conditions such as dermatitis. Rising consumer demand for collar-worn wearable products is triggering the growth in overall pet wearable market
Pet Wearable Market: Key Drivers
- Rising consumer need to identify and track pets is a key growth driver of global pet wearable market
- Rising advancements with integration of technologies such as Internet to Things to pet sleep and sleep tracker devices is fuelling product demand and augmenting the growth in global pet wearable market
Make an Enquiry before Buying - https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=12701
Pet Wearable Market: Key Players
Presence of fewer leading players in global market has ensured that the competition landscape in global pet wearable market is consolidated. It is anticipated that with entry of new players in the forecast period, competition landscape in overall pet wearable market will become fragmented.
Prominent pet wearable market players are making investments in research and development undertakings that are functioning exclusively to produce improved pet wearable products that would meet the requirements of large number of consumers, worldwide.
Ask for References - https://www.transparencymarketresearch.com/sample/sample.php?flag=ARF&rep_id=12701
Some of the well-established players in overall market include Garmin, FitBark, Whistle Labs, and PetPace.
The global pet wearable market is segmented as follows:
- By Type
- RFID
- GPS
- Sensors
- By Application
- Identification & Tracking
- Behavior Monitoring & Control
- Facilitation, Safety & Security
- Medical Diagnosis & Treatment
- Regions Covered
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Electronics and Semiconductors Research Reports
3D Printed Electronics Market - The global 3D printed electronics market, it is anticipated to reach the value of US$ 6 Bn by 2031, developing at an outstanding CAGR of 31.26% during the forecast period
Neuromorphic Chip Market - The global neuromorphic chip market is expected to cross value of US$ 1.6 Bn by the end of 2031, it is estimated to expand at a CAGR of 43.8% from 2022 to 2031
Cable Assembly Market - The global cable assembly market is expected to reach US$ 292.6 Bn by the end of 2031, it is estimated to expand at a CAGR of 6.2 % from 2022 to 2031
Piezoelectric Actuator Market - The global piezoelectric actuator market is expected to exceed value of US$ 1.5 Bn by the end of 2031, expand at a CAGR of 5.1% from 2022 to 2031
SMT Equipment Market - The global SMT equipment market is expected to cross the value of US$ 9.1 Bn by the end of 2031, it is estimated to expand at a CAGR of 4.9% from 2021 to 2031
Magnetometer Sensor Market - The global magnetometer sensor market is expected to reach the value of US$ 6.24 Bn by the end of 2031, grow at a CAGR of 7.5% from 2022 to 2031
Electron Multipliers Market - The global electron multiplier market is expected to cross the value of US$ 949.7 Mn by the end of 2031, expand at a CAGR of 3.8% from 2021 to 2031
Rocker Switch Market - The global rocker switch market is estimated to exceed the value of US$ 11.4 Bn by 2031, expanding at a CAGR of 3.4% during the forecast period
About Transparency Market Research
Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research firm that offers the latest market research reports and business consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
For More Research Insights on Leading Industries, Visit our YouTube channel - https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ
Contact Us:
Rohit Bhisey
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: 1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: [email protected]
SOURCE: Transparency Market Research inc.