Global Smart Connected Pet Collar Market Size, Trends & Analysis with Covid-19 Impact - Forecasts To 2026 By Distribution Channel (Online, Offline), By Application (Cats, Dogs), By Region (North America, Europe, Asia Pacific and Rest of the World); and Company Market Share Analysis & Competitor Analysis
Smart Connected Pet Collar Market: Insights
The market will experience a strong compound annual growth rate over the forecast timeframe from 2020 to 2026. Smart wired pet collars are designed to track the temperature, heart rate, posture, and location of pets by leveraging wireless networking. They are specifically built for pet location monitoring and tracking. Besides, veterinarians are now using this knowledge to handle pets. All the required information it collects through mobile applications is displayed in these collars. Growing requirements for pet monitoring from working individuals coupled with the rising in allergy of pets are some of the key drivers that are projected to boost the growth of the smart connected pet collar market. Moreover, the increase in e-commerce, and the rise in pet ownership in developing nations is also driving the growth of the industry. However, lack of knowledge among people and consumption of electricity and short battery life for smartphones which are likely to adversely to obstruct the market growth during the forecast timeline.
Smart Connected Pet Collar Market: By Distribution Channel
The distribution channel segment is explained by offline and online. The segment of the offline channel was expected to contribute most to global sales and to expand at a high market growth rate in this business field. This is due to the basic usability and affordability of a wide variety of accessories for pets.
Smart Connected Pet Collar Market: By Application
According to the application, this market can be supported by two segments: cats and dogs. The dog segment is projected to contribute the most to global sales in the industry. This is attributed to the growth in knowledge and awareness of pet health owners responsible for changing their choice for smart collars to constantly track their location and health. Moreover, the category of cats is expected to develop at a considerable rate of growth. This is attributed to the need for smaller pets in the home and drives the development of the demand for smart connected pet collars.
Smart Connected Pet Collar Market: By Region
The smart linked pet collar market is classified into, Europe, APAC, CSA, North America, and MEA. It is predicted that the North American region will generate high revenue over the forecast timeline. Growing market awareness, along with increasing R&D spending, are some of the factors affecting overall growth. Moreover, it is predicted that the Asia-Pacific region will see significant growth in emerging regions at a fast CAGR. The rising adoption of pets is one of the significant factors influencing overall growth. Moreover, the rising urbanization and purchasing power are expected to stimulate the growth of demand in the APAC region over the forecasted timeframe.
Smart Connected Pet Collar Market Share & Competitor Analysis
The key players competing in this market are Link AKC, Scollar, Whistle Labs, Kyon, Rawr, Petpace, Wagz, Fitbark, Radio Systems, and WUF among others.
Please note: This is not an exhaustive list of companies profiled in the report.
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The Global Smart Connected Pet Collar Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Smart Connected Pet Collar Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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