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Pharmacy benefit management market
SMART PET COLLAR MARKET REPORT OVERVIEW
The global smart pet collar market size was USD 1.35 billion in 2024 and the market is projected to touch USD 9.79 billion by 2033 at a CAGR of 24.7% during the forecast period from 2025 to 2033.
A smart pet collar serves as a sophisticated tool, utilizing GPS and cellular technology to comprehensively supervise and track pets, offering crucial details about their location, activities, and overall health. Through the integration of GPS and LTE-M cellular networks, these collars empower pet owners with real-time location tracking capabilities, facilitating close and vigilant monitoring of their pets' movements. This cutting-edge technology enhances pet oversight, providing indispensable information about the well-being and whereabouts of cherished companions. The incorporation of GPS and cellular networks ensures a comprehensive and detailed approach to pet tracking, delivering essential insights into their daily activities and overall health status.
Smart pet collars surpass simple location tracking, integrating embedded sensors to monitor various aspects of a pet's well-being. This includes features such as step counting, activity monitoring, and sleep pattern analysis, enabling owners to ensure their pets maintain a healthy and active lifestyle. Advanced models enhance pet monitoring with real-time heart rate and respiratory rate monitoring, aiding in the early detection of potential health issues. Additionally, these collars allow owners to create virtual boundaries through geo-fencing, restricting their pets' movement in predefined areas. Accessing the collected data and receiving notifications typically involves subscribing to a service plan.
COVID-19 IMPACT
"Pandemic disruptions led to temporary manufacturing and distribution slowdown"
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.
The smart pet collar market encountered a challenge during the pandemic. In the initial phase, there was a brief deceleration as disruptions in the supply chain and decreased consumer spending, driven by economic uncertainties and pandemic-related restrictions during lockdowns, took hold. This resulted in a temporary slowdown in the manufacturing and distribution processes within the industry. The interplay of supply chain interruptions and reduced consumer expenditure created a challenging environment for the smart pet collar market, leading to a short-term contraction. The industry grappled with the adverse effects of the pandemic's economic and operational disruptions.
LATEST TRENDS
"Innovation in pet collars meeting comprehensive pet care demands to drive the market"
Smart pet collar manufacturers are intensifying efforts to introduce innovative products that elevate the standards of pet care. These collars boast advanced features including GPS tracking, activity monitoring, and health tracking, addressing the burgeoning need for holistic pet well-being management. The market is witnessing remarkable expansion, fueled by the surging incorporation of smart technologies within the pet care sector and the escalating demand for intelligent devices. To maintain a competitive edge, manufacturers are consistently innovating and introducing novel products. This commitment to innovation reflects a dynamic market responding to the evolving preferences of pet owners, as the industry seeks to provide cutting-edge solutions for comprehensive and proactive pet care.
SMART PET COLLAR MARKET SEGMENTATION
By Type
Based on type the global market can be categorized into GPS Based and Radio Based.
- GPS Based: GPS-based smart pet collars utilize Global Positioning System technology to track and monitor pets' locations in real-time. These collars allow pet owners to create virtual boundaries and receive notifications when their pets leave the designated areas. They are also equipped with features such as activity monitoring, health tracking, and remote communication through smartphone apps, providing comprehensive pet care solutions.
- Radio Based: Radio-based smart pet collars use radio frequency technology for tracking and monitoring pets. While they may not offer the precise location tracking capabilities of GPS-based collars, they are often used for close-range monitoring and training purposes. These collars can be suitable for pet owners who require proximity tracking and training functionalities for their pets.
By Application
Based on application the global market can be categorized into Tracking, Training, Monitoring and Others.
- Tracking: One of the primary applications of smart pet collars is tracking. GPS-based collars allow pet owners to monitor their pets' location in real-time, set virtual boundaries, and receive notifications when their pets leave the designated areas. These collars are ideal for pet owners seeking to ensure the safety and security of their pets.
- Training: Smart pet collars can also serve training purposes. Radio-based collars are often employed for close-range monitoring and training, enabling pet owners to correct their pets' behaviour through beeps or vibrations. These collars are suitable for pet owners requiring proximity tracking and training functionalities for their pets.
- Monitoring: Equipped with sensors, smart pet collars monitor pets' activity, sleep patterns, and health, providing valuable insights into their well-being. They are utilized to monitor pets' health conditions, detect early signs of illness, and ensure they receive adequate exercise and rest.
- Others: The "Others" category encompasses smart pet collars offering additional functionalities, such as two-way communication, temperature monitoring, and a buzzer for location. These collars cater to the diverse needs and preferences of pet owners, providing a range of features for comprehensive pet care solutions.
DRIVING FACTORS
"Real-time alerts on smartphones for pet behaviour control enhance the market"
The factor driving the global smart pet collar market growth plays a pivotal role in ensuring the safety and well-being of pets by delivering real-time alerts to owners through their smartphones. This immediate notification system proves invaluable in diverse scenarios. For instance, if pets breach virtual boundaries, owners promptly receive alerts, minimizing the risk of them getting lost. Moreover, these collars serve as behaviour monitors, notifying owners of any undesirable pet actions and facilitating swift corrective measures. The integration of advanced bluetooth technology enables remote dog training from distances of up to 75 yards, providing a convenient and effective training solution. Additionally, smart pet collars featuring GPS tracking and geofencing add an extra layer of security, instantly notifying owners if their pets venture beyond predetermined safe zones. These instantaneous alerts contribute significantly to pet safety, training effectiveness, and overall well-being, offering owners a sense of assurance and effective means of communication and control.
"Collars with sensors, monitor pet health aiding owners in ensuring well-being to expand the market"
Smart pet collars incorporate a range of health monitoring features, delivering valuable insights into the well-being of pets. Equipped with sensors, these collars meticulously track pets' activity levels, sleep patterns, and vital signs, offering pet owners a means to ensure their pets' overall health and well-being. Health monitoring features encompass activity tracking, enabling the monitoring of sleep and calorie expenditure to ascertain adequate exercise and rest. Additionally, these collars include heart rate monitoring, detecting early signs of potential health issues through the tracking of pets' heart and respiratory rates. Temperature monitoring is another attribute, ensuring pet owners can safeguard their pets from overheating or hypothermia. Health alerts sent to smartphones enable prompt action in response to signs of illness or injury. Collectively, these health monitoring capabilities empower pet owners with comprehensive insights, facilitating informed decisions for optimal care, safety, and well-being of their beloved companions.
RESTRAINING FACTORS
"Short battery life may inconvenience owners potentially deterring market adoption"
The durability of smart pet collars is often compromised by challenges related to battery life, primarily due to the constant connectivity required for precise tracking. This issue is particularly evident with GPS-based collars, necessitating recharging every few days, although some models can retain a charge for a week or more. The frequent need for recharging or battery replacement poses an inconvenience for pet owners, potentially discouraging their adoption of such collars. Furthermore, features such as live tracking or sound alerts can exacerbate the battery drain. Manufacturers are actively engaged in enhancing battery longevity, with some collars now equipped with low-battery alert features to notify owners when recharging is imminent. Despite these advancements, the limited battery life of certain smart pet collars remains a significant consideration, impacting both manufacturers and pet owners in their pursuit of reliable and efficient tracking solutions.
SMART PET COLLAR MARKET REGIONAL INSIGHTS
"North America leads the market due to high pet ownership, tech advances and robust pet care awareness"
The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.
North America holds a commanding position in the global smart pet collar market share, driven by elevated rates of pet ownership, technological strides, and robust awareness regarding pet care. The region is experiencing a notable upswing in the popularity of smart connected pet collars, propelled by the expanding trend of pet humanization and the escalating embrace of smart technologies. High levels of pet ownership contribute to a receptive market, with a significant portion of pet owners investing in advanced pet care solutions. Additionally, the region's tech-savvy population, coupled with a growing inclination toward integrating technology into various aspects of daily life, further fuels the demand for innovative smart pet collar offerings. This dominance in the market underscores North America's leadership in embracing and driving the evolution of pet care technologies.
KEY INDUSTRY PLAYERS
"Key industry players drive the market by revolutionizing pet care through AI-powered collars and signalling innovation"
Key industry players in the smart pet collar market are actively engaged in ongoing innovation, striving to maintain a competitive edge in the industry. Advancements include the introduction of AI-powered smart collars by select companies. These cutting-edge collars harness the capabilities of artificial intelligence (AI), delivering advanced functionalities such as predictive health monitoring and behaviour analysis for pets. The integration of AI technology enables pet owners to receive proactive insights into their pets' well-being, predicting potential health issues and analyzing behavioural patterns. This represents a significant leap forward in smart pet collar capabilities, enhancing the depth and precision of health monitoring. The continual introduction of such groundbreaking technologies underscores the industry's commitment to providing pet owners with state-of-the-art solutions for comprehensive and proactive pet care.
List of Top Smart Pet Collar Companies
- Garmin (U.S.)
- Whistle (Tagg) (U.S.)
- FitBark (U.S.)
- Petsafe (U.S.)
- PetPace (U.S.)
- Marco Polo (U.S.)
- Gibi Technologies Inc (U.S.)
- WÜF (U.S.)
- Nuzzle (U.S.)
- LINK AKC (U.S.)
- Tractive (Austria)
- Loc8tor (U.K.)
- KYON (Switzerland)
INDUSTRIAL DEVELOPMENT
April 2023: Fi, the Smart Dog Technology Company, has unveiled a significant update in Live Tracking for its Fi Series 3 collar. This update sets a new standard for GPS and cellular communication, reporting a dog's location in seconds. Live Tracking is a crucial feature for lost dog situations, allowing owners to recover their pets faster. Jonathan Bensamoun, Fi's CEO, emphasized the company's commitment to providing cutting-edge technology, with the Series 3 collar being smarter, smaller, and stronger. The collar's durability and real-time tracking capabilities make it a valuable tool for dog owners, enhancing the overall experience of pet care.
REPORT COVERAGE
The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.
The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 1.35 Billion in 2024 |
Market Size Value By |
US$ 9.79 Billion by 2033 |
Growth Rate |
CAGR of 24.7% from 2024 to 2033 |
Forecast Period |
2025-2033 |
Base Year |
2024 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered | |
By Type
|
|
By Application
|
Frequently Asked Questions
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What value is the global smart pet collar market expected to touch by 2033?
The global smart pet collar market is expected to reach USD 9.79 billion by 2033.
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What CAGR is the global smart pet collar market expected to exhibit by 2033?
The global smart pet collar market is expected to exhibit a CAGR of 24.7% by 2033.
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Which are the driving factors of the smart pet collar market?
Real-time alerts on smartphones for pet behavior control, and collars with sensors, monitor pet health aiding owners in ensuring well-being are some of the driving factors of the smart pet collar market.
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What are the smart pet collar market segments?
The smart pet collar market segmentation that you should be aware of, which include, Based on type the smart pet collar market is classified as GPS Based and Radio Based. Based on application the smart pet collar market is classified as Tracking, Training, Monitoring and Others.