The global pet wearable market size was valued at USD 2,365.1 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 14.3% from 2023 to 2030. The market growth is supported by awareness among owners regarding the well-being of their pets. Further, the pet wearable industry has attracted considerable funding over the last couple of years for an array of technology-enhanced products for pets, including cameras and wearables. The pet wearable industry is still in its initial stages of development. However, it is still characterized by increasing competition among key stakeholders and the threat of new entrants. The focus of OEM will be the development of products with the capability of efficiently collecting health metrics.
IoT will play a crucial role in driving market growth in the future. Transmitting real-time data concerning pet health to veterinarians or pet owners will be supported by the connectivity offered by these devices. The non-invasive wearable sensor system combining photoplethysmograph (PPG), electrocardiogram (ECG), and inertial measurement units (IMU) is used to continuously monitor the health condition of pets integrated with the wireless technology, and handheld devices can make pet health monitoring easier.
Advancements in technologies including sensors, cameras, GPS, etc. will further elevate market demand in the future. Technology plays an important role in any electronic device, therefore any advancements in the aforementioned fields will be conducive to the growth of the pet wearables industry. Short battery life and high consumption of power may reduce the usage and adoption of the technology. Moreover, compliance with stringent government regulations is expected to hamper the pet wearable market growth.
The RFID segment in pet wearable devices recorded the highest revenue share surpassing 30% in 2022. Reliability and accuracy are the two key features contributing to the pet wearable segment’s growth. The RFID trackers help monitor parameters concerning health such as variability in heart rate, calorie intake, body temperature, and pulse. These benefits play a key role in up-keeping segment growth, a trend expected to continue over the forecast years.
GPS enabled devices segment is projected to grow at a CAGR of 15.0% from 2023 to 2030, contributing to a high revenue share over the forecast period. Growing demand to monitor pet activities while ensuring security is creating avenues for GPS-based pet wearable devices. Growth in real-time positioning, increasing penetration of smartphones, and growth in mapping portals worldwide are estimated to fuel demand. Moreover, GPS providers have established strategic alliances with stores, mobile phone manufacturers, and application developers to increase GPS usage in new applications.
The demand for identification & tracking pet wearable device held a revenue share of 61.65 % in 2022. Access to location history and weight & dimensions are key features driving the segment’s growth. These devices offer pet owners a secure and easy way to monitor pet activity contributing to the segment's popularity.
Apart from activity monitoring, the demand for pet wearables for medical diagnosis & treatment is projected to witness growth at a CAGR of 16.8 % from 2023 to 2030. The expenditure on pet health diagnostics is creating opportunities for segment growth. Without a doubt, we can say that pet wearables have a bright future, with pet owners spending more on a daily basis. To a certain extent, this spending is driven by emotional motives such as increasing emotional attachment as well as dependence on pets for entertainment, companionship, and mental well-being.
North America held the highest market share of 38.33% in 2022. The availability of sophisticated technologies in the region along with increasing spending on pet healthcare is anticipated to drive the regional pet wearable industry growth. For example, according to the America Pet Product Association, the spending on the pet industry in the U.S. is projected to surpass USD 100 billion by 2022.
Asia Pacific pet wearable industry growth will be led by countries including India, China, and Australia. The growing awareness about pet health and increasing wearable technology penetration in the region are the factors anticipated to drive the regional industry’s growth over the forecast period.
The pet wearable industry is in its developing stage and is observing intense competition among existing players and new entrants. Companies are also focusing on strategic expansions, collaborations, and acquisitions to strengthen their position in the global market. Market players are focused on improving their presence by pursuing various strategic initiatives, such as new product development; strategic collaborations, joint ventures, and partnerships; and mergers & acquisitions.
Key players in the market are also highly focused on R&D activities to develop innovative products to expand their product offerings. Further, these players are also focused on developing innovative products that can gather health metrics of pets, such as distance walking and calories burned, which can be advantageous to veterinarians. Some prominent players in the global pet wearable market include:
Avid Identification Systems, Inc.
Allflex USA Inc.
Datamars
FitBark
Garmin Ltd.
Invisible Fence
Link AKC
Loc8tor Ltd.
PetPace LLC
Whistle Labs, Inc.
Voyce.
Report Attribute |
Details |
Market size value in 2023 |
USD 2.7 billion |
Revenue forecast in 2030 |
USD 6.88 billion |
Growth rate |
CAGR of 14.3% from 2023 to 2030 |
Base year for estimation |
2022 |
Historical data |
2018 – 2021 |
Forecast period |
2023 – 2030 |
Quantitative units |
Revenue in USD million and CAGR from 2023 to 2030 |
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Segments covered |
Technology, application, region |
Regional scope |
North America; Europe; Asia Pacific; South America; MEA |
Country scope |
U.S.; Canada; Germany; U.K.; France; Spain; China; India; Japan; Brazil; Mexico |
Key companies profiled |
Allflex USA Inc.; Avid Identification Systems, Inc.; Datamars; Fitbark; Garmin Ltd.; Intervet Inc.; Invisible Fence; Konectera Inc.; Nuzzle; PetPace LLC; Tractive; Trovan Ltd.; Whistle Labs, Inc.; Voyce |
Customization scope |
Free report customization (equivalent to up to 8 analysts’ working days) with purchase. Addition or alteration to country, regional, and segment scope. |
Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global pet wearable market report based on technology, application, and region:
Technology Outlook (Revenue, USD Million, 2018 - 2030)
RFID
GPS
Sensors
Application Outlook (Revenue, USD Million, 2018 - 2030)
Identification & Tracking
Behavior Monitoring & Control
Facilitation, Safety & Security
Medical Diagnosis & Treatment
By Region Outlook (Revenue, USD Million, 2018 - 2030)
North America
U.S.
Canada
Europe
U.K.
Germany
France
Spain
Rest of Europe
Asia Pacific
China
India
Japan
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East and Africa
b. The global pet wearable market size was estimated at USD 2365.1 million in 2022 and is expected to reach USD 2,702.0 million in 2023.
b. The global pet wearable market is expected to grow at a compound annual growth rate of 14.3% from 2023 to 2030 to reach USD 6,888.1 million by 2030.
b. North America dominated the pet wearable market with a share of 38.33% in 2022. Factors such as high penetration of activity and fitness monitoring devices for pets and rising awareness of pet health drives the regional market growth.
b. Some key players operating in the pet wearable market include Allflex USA Inc.; Avid Identification Systems, Inc.; Datamars; Fitbark; Garmin Ltd.; Intervet Inc.; Invisible Fence; Konectera Inc.; Nuzzle; PetPace LLC; Tractive; Trovan Ltd.; Whistle Labs, Inc.; and Voyce.
b. Key factors that are driving the pet wearable market growth include increasing pet expenditure owing to rising disposable income in emerging countries, and increasing awareness concerning animal health across the world.
GET A FREE SAMPLE
This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.
NEED A CUSTOM REPORT?
We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities.
Contact us now to get our best pricing.
ESOMAR certified & member
Leading SME award by D&B
We are GDPR and CCPA compliant! Your transaction & personal information is safe and secure. For more details, please read our privacy policy.
"The quality of research they have done for us has been excellent."
The recent COVID-19 pandemic that has been ravaging numerous countries across the globe has adversely affected the overall sensor, control, and automation industry. While the capital investments in the automation sector have been lethargic before the pandemic, they are expected to be put on hold or postponed for at least a year. However, the recent standstill in industrial manufacturing and production is anticipated to act as a wake-up call for the manufacturing sector on its reliance on human labor. This, in turn, is expected to highlight the advantages of robotics and automation helping a greater adoption in the post-pandemic period. As IoT, industrial automation, and digitalization are expected to become increasingly relevant to post-pandemic Tier 1 manufacturers, it may eventually turn into an opportunity especially in evolving supply chains. The report will account for Covid19 as a key market contributor.
We value your investment and offer free customization with every report to fulfil your exact research needs.