DUBLIN, Jan. 27, 2023 /PRNewswire/ -- The "Global Pet Smart Tracker Market Size, Share & Industry Trends Analysis Report By Pet Type (Dogs and Cats), By Distribution Channel (Offline and Online), By Technology (GPS, RFID and Others), By Regional Outlook and Forecast, 2022 - 2028" report has been added to ResearchAndMarkets.com's offering.
The Global Pet Smart Tracker Market size is expected to reach $1.7 billion by 2028, rising at a market growth of 9.7% CAGR during the forecast period.
Market Growth Factors
Allow Pets Exploring Outdoors Securely
Pets love running around, exploring their surroundings, and being outdoors without leashes. Many owners desire to send their pets outdoors and let them explore their neighborhood or run freely in their backyard without having to constantly look at them or make them be in a particular place. Pet trackers can help lower the owner's stress level when their pets are alone and also save them from installing high fencing around their house to keep their pets from running away.
Growing Concerns Towards Pet's Health & Care
There is a rise in pet health awareness among owners. The increasing adoption of animals as companions for children or adults and even for security & status purposes raise the adoption rate and the expenditure on their care. Private and public organizations have launched many initiatives to educate parents about their pet's needs and care. Affection and Companionship are the basic pillars in the relationship between a pet and its owner. The rise in awareness towards the healthcare of pets is expected to boost the market for pet smart tracker.
Pet Type Outlook
Based on the pet type, the pet smart tracker market is segmented into dogs and cats. The dogs segment procured the largest revenue share in the pet smart tracker market in 2021. This is due to the rising nuclear family trends, couples without children, dual income families, and the preference to choose dogs for security and companionship purposes. Dogs are the most common type of household pets.
Technology Outlook
On the basis of technology, the pet smart tracker market is divided into RFID, GPS and others. The GPS segment garnered the highest segment revenue share in the pet smart tracker market in 2021. The segment's growth is result of the rising demand to monitor pet activities. GPS trackers provide progress in live positioning through smartphones and vast map areas. To further increase its usage, the GPS service providers have made various agreements with app developers, retailers, and phone manufacturers, so that pet owners can easily connect with the services.
Distribution Channel Outlook
By distribution channel, the pet smart tracker market is classified into offline and online. The online segment acquired the largest revenue share in the pet smart tracker market in 2021. This is due to the benefits like free home delivery and discounts. A variety of products are available in the online distribution market with a broader range of selections. The expansion of the pet smart tracker can be attributed to the simple accessibility from numerous marketplaces like the internet and modern trade.
Regional Outlook
Region-wise, the pet smart tracker market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region dominated the pet smart tracker market with maximum revenue share in 2021. Nowadays, more individuals are treating their pets such as dogs, cats, birds, and other animals as a part of their family and hence developing family-like emotions with them. Thus, they are spending more on their daily needs and safety items. This is rising the demand for pet smart tracker across the North America region.
Key Market Players
- Jio, Inc. (Life360, Inc.)
- Whistle Labs, Inc. (Mars Petcare) (Mars Incorporated)
- Dynotag, Inc.
- Felcana (Pet Technology Limited)
- High Tech Pet Products, Inc.
- NUM'AXES
- Loc8tor Ltd.
- Avid Identification Systems, Inc.
- Datamars SA
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. Global Pet Smart Tracker Market by Pet Type
Chapter 4. Global Pet Smart Tracker Market by Distribution Channel
Chapter 5. Global Pet Smart Tracker Market by Technology
Chapter 6. Global Pet Smart Tracker Market by Region
Chapter 7. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/xwcjnn-pet-smart?w=5
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