PUBLISHER: Allied Market Research | PRODUCT CODE: 1193307
PUBLISHER: Allied Market Research | PRODUCT CODE: 1193307
The global pet smart tracker market was valued at $938.9 million in 2021, and is projected to reach $2.6 billion by 2031, growing at a CAGR of 10.3% from 2022 to 2031.The global pet smart tracker market is developing due to rise in consumer disposable income. The growing population of pets resulting into rise in demand for RFID- and GPS-equipped pet smart trackers is expected to grow at the fastest rate. The market for pet smart trackers is also being driven by the growing trend of nuclear families, rapid humanization of pets, and increased awareness of pet health. Furthermore, the global pet smart tracker market benefits from an increase in pet ownership in developing countries and an increase in e-commerce sales.
The global pet smart tracker market is segmented into pet type, technology, distribution channel, and region. On the basis of pet type, the market is classified into dogs and cats. By technology, it is categorized into RFID, GPS, and others. As per distribution channel, it is segregated into offline and online. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, France, the Netherlands, Germany, Turkey, and the rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and the rest of Asia-Pacific), and LAMEA (Brazil, South Africa, United Arab Emirates, and the rest of LAMEA).
The COVID-19 pandemic has a positive and negative impact on the global pet smart tracker market. During the lockdown, residents were confined to their houses. This led to an increase in the number of people adopting pets for companionship, which had a favorable impact on the market.
The pet smart trackers are growing in popularity as pet owners have become more mindful of their pets' health. The rising popularity of adopting dogs as companions for mental stability, fitness, and entertainment is driving up pet-care spending. The global pet smart tracker market is predicted to grow due to rise in awareness about smart wearables among people. In addition, employing a pet smart tracker has advantages such as it links owners with their pets, tracks their daily activities, and monitors their health. Food consumption, heart and respiration rate and trends, and calories burned by pets during the day are all tracked using such trackers. The information gathered by these gadgets is used to assess the health of pets. The aforementioned factors are driving the use of pet smart trackers, which is driving the market's growth during the forecast period.
Key Benefits For Stakeholders
By Pet Type
By Technology
By Distribution Channel
By Region