The Global Smart Connected Pet Collar Market is estimated to grow at a CAGR of 9.5% during the forecast period 2019-2026. As per the analysis, the Global Smart Connected Pet Collar Market was valued at $322.7 million in the year 2018 and is expected to record $653.5 million by the end of the year 2026.
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The purpose of Smart Connected Pet Collar is to monitor the temperature, position, location of pets and heart rate of pets through wireless communication displaying the required information on devices like mobile phones, etc. Information obtained from these devices are used in treating the pets by veterinary doctors. The smart connected collars are now equipped with alert system to alert the pet owners if their pets suffer from any medical condition like seizures etc.
With the growing importance to pet health since a few years, owners love for pets and stringent government regulations has aided in the growth of the market. For example, as per Queensland Government, in some regions, pet owners have to register their pet’s food, total care and shelter with council areas. With the increased growth in willingness to spend on pet, the market has witnessed growth in the few years. As per the American Pet Product Association, total pet products related expenditure in USA is estimated to be $75.4 billion in the year 2019, registering CAGR of 4% for 3 years period.
The Dog Segment accounted for the major market share in the Global Smart Connected Pet Collar Market, however the cat segment is estimated to grow at fastest growth rate during the forecast period. Owing to increase in marketing and advertising and increase in awareness about this technology and increase in the expenditure on per products. Studying about the sales channels, the online channels are going to continue gaining the market share over the offline channels as they provide higher benefits like varied options, multiple offers and hassle-free shopping experience. Online segment would be exhibiting the CAGR of 10.6% during the forecast period 2019-2026.
Segmentation Overview of the Global Smart Connected Pet Collar Market
The Global Smart Connected Pet Collar Market is segmented on the basis of Pet Type and Sales Channel. These segments are further categorized into various sub-segments to study the market in detail.
Pet Segment of the Global Smart Connected Pet Collar Market is Sub-Segmented into:
Sales Channel Segment of the Global Smart Connected Pet Collar Market is Sub-Segmented into:
- Online Channel
- Offline Channel
Geographical Overview of Global Smart Connected Pet Collar Market
Geographical segment of the Global Smart Connected Pet Collar Market is Asia-Pacific (Australia, China, Japan and Rest of Asia-Pacific), LAMEA (Middle East, Latin America, Africa), North America (Mexico, Canada, US) and Europe (Germany, France, Italy, UK, Rest of Europe). As per the analysis, the North-America is leading the global market however, the Asia-Pacific region would be growing at the highest CAGR during the forecast period exhibiting the anticipated CAGR of 12.3% during 2019-2026.
Key Players Insights
Scollar, Wagz, Inc., KYON, FitBark, Radio Systems Corporation, Eureka Technology Partners, LLC, PetPace, Tractive, Whistle Labs Inc. and Fi. among others are some of the key players operating in Global Smart Connected Pet Collar Market.
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