Pet Wearable Market Size, Share & Industry Analysis, By Technology (RFID (Radio Frequency Identification), GPS, Sensors, and Others), By Application (Identification & Tracking, Behavior Monitoring, Facilitation, Safety & Security, Medical Diagnosis & Treatment, and Others) By Device Type (Smart Camera, Smart Collar, Smart Harness and Vest, and Others), and Regional Forecast, 2024-2032

The global pet wearable market size was valued at USD 3.28 billion in 2023. The market is projected to grow from USD 3.69 billion in 2024 to USD 10.43 billion by 2032, exhibiting a CAGR of 13.9% during the forecast period. North America dominated the pet wearable market with a market share of 33.53% in 2023.

Pet wearables are devices that can be worn on a pet's body to aid several purposes, such as location tracking, behavior monitoring, medical treatment, diagnosis, and many more. Wearable technology offers pet owners capabilities such as GPS location tracking, monitoring fitness, and receiving fast notifications. Most of these devices are hands-free and portable, reducing the need and effort of individuals to handle them.

The adoption of pets, particularly dogs, during the COVID-19 pandemic grew radically as many people globally began working remotely and had more time and a greater desire to care for their pets. Consequently, there has been an increase in demand for these pet devices. The growing inclination toward pets as buddies for fitness, entertainment, and mental stability is driving expenditure on pet comfort. For instance,

• As per the American Pet Products Association (APPA), pet expenditure increased by nearly 11% in 2022 compared to the previous year. Usage of pet technologies, such as pet monitoring systems and electronic tracking devices, is growing, with more pet owners planning to buy these items.

Advancements in technologies such as 5G, IoT-based devices, long-lasting batteries, and other innovations have boosted developments in pet’s wearables.

Impact of AI

Modernized Features of AI Mechanisms in Wearable Solutions for Pet to Upsurge Market Development

Artificial intelligence-based wearables are fortified with smart algorithms that can identify irregularities in a pet's crucial behavior or other signs, such as probable health issues. For instance, rapid changes in heart rate, extreme scratching, or changing sleep patterns may indicate underlying problems such as stress, pain, or any illness. By notifying pet owners of these anomalies, AI wearables enable early intervention and veterinary care.

AI wearables for pets, fortified with GPS tracking competencies, provide a wide range of assistance for pet owners, ensuring the well-being and safety of their adored companions. Hence, the usage of artificial intelligence across wearable devices for pets is increasing with new innovations and technological integration. For instance,

• In March 2024, PetPace announced the launch of PetPace 2.0, the vet-marked AI-driven Canine Pet Collar that offers real-time, life-saving medical insights for researchers, vets, and pet owners. The PetPace collar collects millions of data points and utilizes different analytics to recognize health issues and communicate them in actual time.

Such advancements in artificial intelligence mechanisms enhance the utility of these wearable devices for pets in the market.

Pet Wearable Market Trends

Integration with Emerging Technologies such as IoT-based Devices to Fuel Market Growth

The IoT for pets allows pet owners to remotely monitor, gather health data, track activity, feed, and engage in play with pets even when they are not around. In the case of IoT pet tracking solutions, wearable devices for pets are the prominently used mechanisms. There are several different kinds of wearable solutions that can be used for different purposes and the demand for these devices is increasing.

The global rise of IoT-driven pet solutions is owing to a number of factors, such as the increase in the number of pet owners, the surge in government funding in the animal healthcare sector, the growing demand for pet management solutions, and the increasing preference for Internet of Things (IoT) facilities among pet owners. For instance,

• According to industry experts, 66% of the households in the U.S. will own at least one pet by 2024. Pets are considered integral parts of their owners' lives, with 97% of owners viewing their pets as family members.


• In 2022, Americans spent USD 136.8 billion on their pets, up approximately 11% from the previous year, 2021, i.e., USD 123.6 billion.

The various kinds of IoT-based mechanisms used by pet owners include radio pet tracking devices, pet tracking GPS, Wi-Fi pet tracker, LoRa tracking system, and others.

The rising interest among pet owners in monitoring and caring for their pets drives the demand for pet wearable devices equipped with the integration of new technologies.

Pet Wearable Market Growth Factors

Adoption of Digital Technologies and Modern Remote Patient Monitoring to Propel Market Progress

The healthcare sector continues to adopt digital technologies and modern remote patient monitoring, a trend that is also transforming the pet health sector. With over six in ten U.S. families owning at least one pet, there is a huge demand for pet healthcare solutions. With solutions ranging from wearable solutions to smart health monitoring solutions, pet owners can make use of various wearable and non-wearable pet accessories to monitor and track every aspect of their pet's health. Various pet health monitoring devices include smart pet health trackers, pet monitoring cameras, smart pet collars, and many more.

By leveraging Artificial Technology (AI) and Internet of Things (IoT) technology, ordinary pet products can be enhanced to provide smarter capabilities for interpreting pet health data. These smart devices can learn about individual pets, monitor long-term health trends, detect changes, analyze behaviors, and assess the impact of exercise and nutrition. Hence, various market players are advancing and innovating new wearable solutions that deliver better pet health monitoring features. For instance,

• In October 2023, PetPace announced the launch of AI-driven Nextgen Health 2.0 to monitor pets' health continuously. The new PetPace Health 2.0 is a smart dog collar equipped with veterinarian-developed machine learning algorithms that assess all vital signs and biometrics, providing comprehensive health monitoring and offering owners peace of mind.

The growing concerns over pets' health drive the demand for health monitoring-based wearables solutions, thereby fueling market progress. 

RESTRAINING FACTORS

Lack of Maintenance and Reliability over Pet Wearable Devices can Affect their Usage among Pet Owners

All technological devices, such as smart pet equipment and wearables, need regular checks. They are prone to breakdowns or malfunctions, which can disturb usual care practices. Advancing and maintaining firmware that aids updates, interoperability, and new features results in a continuing challenge.

Other issues, such as battery life and maintenance, can create problems for pet owners. Battery deterioration over time can increase costs for owners. Maintenance requirements, such as updating software and ensuring proper device care against external environment factors, are vital tasks for pet owners.

Improper care can cause serious health risks, including allergic reactions and skin irritation instigated by the materials used in the devices. Moreover, the continuous usage of wearable devices can cause bad posture and monotonous stress wounds, such as carpal tunnel syndrome and many more.

These challenges can cause tension in the minds of pet owners, which can affect the demand for these wearable devices in the market.

Pet Wearable Market Segmentation Analysis

By Technology Analysis

RFID Technology Leads due to its Enhanced Features and Growing Usage across Pet Wearable Devices

Based on technology, the market is categorized into RFID (Radio Frequency Identification), GPS, sensors, and others (biosensors).

RFID technology held the highest market share in 2023. RFID technology helps animal control workers, vets, pet owners, and caregivers to contact, recognize, and monitor pet health. RFID tags can be fixed to a pet's collar and also can be embedded underneath the pet's skin. The technology stores data with the help of electromagnetic mechanisms for power and connects that data to a device that infers it. These benefits increase its usage across wearable devices of pets to accomplish various tasks such as pet’s health and behavior monitoring, pet identification, and others.

GPS technology is anticipated to grow with the highest CAGR during the forecast period. GPS-based wearable devices provide 24/7 tracking and activity status, real-time analysis of symptoms, ambient temperature alerts and notifications, and many more. With all such features, GPS technology helps to ensure the safety of pets while setting a physical limit for pets. For instance,

• In January 2023, Link, the smart pet wearable product, announced a partnership with MWI/Amerisource Bergen for the animal health solution LinkVet. The device is developed on a patented technology platform that operates with LinkVet's smartphone application with tailored activity monitoring and GPS tracking to offer an environment that links dog owners and veterinarians.

By Device Type Analysis

Smart Collars Segment holds the Highest Market Revenue due to Enhanced Features of Such Devices

By device type, the market is classified into smart camera, smart collar, smart harness and vest, and others (other tracking devices).

The smart collars segment accounts for the highest market revenue share and is projected to grow with the highest CAGR during the forecast period due to its high-utility pet applications that are used to keep track of a pet's activity level and make sure they get sufficient exercise. These collars can also be integrated with several technologies, such as accelerometers, GPS, heart rate monitors, temperature sensors, and many more, which increases their demand and implementation in the market. For instance,

• In February 2024, Strava collaborated with Fi Smart Collar, allowing Strava members to incorporate and share their actions and their dog's movement with the vast Strava community.

Other wearable devices for pets include smart cameras, smart vests, harnesses, and other tracking devices. Pet cameras can connect to the internet and communicate live insights through a pet care application, some of which provide motion-driven recording. Pet cameras also include features such as treat dispensers to remotely reward or entertain playful pets.

By Application Analysis

Medical Diagnosis & Treatment Segment to Showcase Highest CAGR due to Growing Necessity for Medical Diagnosis & Treatment among Pets  

By application, the market is classified into identification & tracking, behavior monitoring, facilitation, safety & security,

medical diagnosis & treatment, and others (fitness monitoring).

Medical diagnosis & treatment are projected to grow with the highest CAGR during the studied period. Though the pet wearables and livestock monitoring sectors are still in their developing stage in most regions, they are drawing substantial funding, and hence the economic projections for the market are optimistic. The ease of gathering precise pet health insights is one of the key attributes of these wearables that are driving interest among veterinary specialists. For instance,

• As per the Association of Pet Obesity and Prevention's Clinical Survey, over 60% of cats and 56% of dogs are clinically overweight, which continues to drive the demand for these wearables.

Identification & tracking accounts for the highest market revenue share for 2023, owing to the rising popularity of wearable technology for animals to meet the increasing demand for actual-time insights and live tracking. The technology is used by environmentalists, and wildlife conservationists have been placing tracking devices on animals and using acoustic and radio telemetry to gather data.

REGIONAL INSIGHTS

By geography, the market is analyzed across North America, Europe, Asia Pacific, the Middle East & Africa, and South America.

North America held the highest pet wearable market share in 2023, owing to the major presence of prominent market players. The U.S. is the leading country to make use of various pet technologies, including RFID and GPS, for tracking animals' movements and location. Additionally, the rising Pet tech spending across the U.S. and Canada contribute to the region's market progress. For instance,

• As per the Pet Spending Statistics in Canada 2024, 58% of Canadian people own a pet. Canada's pet spending surged by 17.1% from 2018 to 2021. PetSmart is among the most extensive pet supply retailers in Canada, with 1,650 stores.

Asia Pacific is anticipated to grow with the highest CAGR during the forecast period. China is among the top countries with the highest pet spending. The growing market presence in Australia, India, and Japan is driving the region's pet wearable market growth. Australia has one of the highest pet ownership rates across the globe, with over two-thirds of households owning at least one pet.

• As per a survey by industry experts, individuals in Australia have stated it as a nation that loves its pets and have spent over USD 33.2 billion in 2022 to keep them healthy, fed, groomed, and accessorized.

Europe is projected to progress with a remarkable pet wearable industry share during the studied period, owing to the growing demand for pet tech solutions across European countries. Pet tech startups are flourishing, with established firms securing several funding rounds and beginners attracting substantial investment at a faster speed. For instance,

• Tractive, an Austria-based start-up, developed a GPS pet tracker that monitors pets' locations at all times. Established in 2012, the firm outlasted various competitors in the pet wearables market, raising USD 35 million (€32 million) in series A funding in 2021.

The Middle East & Africa and South America are anticipated to grow with substantial growth rates during the forecast period due to expanding technologies and developments in the UAE and Brazil. The growing adoption of technologies such as GPS-based tracking, AI-based pet monitoring cameras, and growing social networks for pets drives the expansion of the market. Additionally, various market players are expanding into Brazil and Mexico to accomplish higher business revenues and expand their presence.

List of Key Companies in Pet Wearable Market

Rising Product Integrations, Innovations, and Collaborations to Advance Technological Advancements to Aid Business Expansion

Prominent market players, such as Whistle, PetPace, FITBARK, Garmin Ltd., DOGTRA, Loc8tor Ltd., Datamars, Wagz Inc., and Tractive, Avid Identification Systems, Inc., among others, are attentive to offering advanced innovative technologies-driven wearable devices for pets. These players are intensifying their product portfolio due to the increasing demand for IoT-based solutions, AI, data analytics, and more. Market players are implementing several business strategies, such as product launches, portfolio enhancements, and collaborations to extend their operations across the globe.

LIST OF KEY COMPANIES PROFILED:

• Whistle (U.S.)


• PetPace (U.S.)


• FITBARK (U.S.)


• Garmin Ltd. (U.S.)


• DOGTRA (U.S.)


• Loc8tor Ltd. (U.K.)


• Datamars (Switzerland)


• Wagz Inc. (U.S.)


• Tractive (Austria)


• Avid Identification Systems, Inc. (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• May 2024: PetPace announced the Animal Alerts project aimed at developing an earthquake alert system empowered by PetPace. With the help of the PetPace smart collar, health insights are collected and examined for potential correlations with earthquakes, with the objective of developing a system to notify residents through various media channels.


• May 2024: Tractive announced integration with Strava, the fitness application. Dog owners using Tractive can automatically upload their walks to the Strava application, increasing their engagement with their pets. Strava is one of the leading digital communities for active individuals, with over 125 million athletes worldwide.


• February 2024: Tractive, the pet wearable firm, announced the launch of its first insurance product on the Ignite broker platform. Known as Tractive Pet Cover, the insurance would be obtainable to cat and dog owners in the U.K., where Tractive has amassed over 1 million subscribers globally.


• November 2023: Halo Collar expanded its distribution network to include new retail channels. Halo announced the launch of Halo Collar 3, the precise GPS dog fence, is now available for purchase at new commerce platforms, such as Chewy, Amazon, and Walmart.com, in addition to its availability on www.halocollar.com.


• November 2022: Whistle labs announced the launch of Whistle Health Limited Edition for the holidays. It is a super sleek, stylish version of its most reasonable wearable device, accessible during the time of holidays. The smart device tracks activity and behavior, offers custom-made nutrition recommendations, and can help pet owners to log their pet's emotional well-being.

REPORT COVERAGE

The report highlights leading regions to offer a better understanding to the user. Furthermore, it provides insights into the latest industry growth trends and analyzes technologies deployed rapidly globally. It further highlights some drivers and restraints, helping the reader gain in-depth knowledge about the market analysis.

REPORT SCOPE & SEGMENTATION

ATTRIBUTE	DETAILS
Study Period	2019-2032
Base Year	2023
Estimated Year	2024
Forecast Period	2024-2032
Historical Period	2019-2022
Growth Rate	CAGR of 13.9% from 2024 to 2032
Unit	Value (USD Billion)
Segmentation	By Technology RFID (Radio Frequency Identification) GPS Sensors Others (Biosensors) By Application Identification & tracking Behavior monitoring Facilitation, safety & security Medical diagnosis & treatment Others (Fitness monitoring) By Device Type Smart Camera Smart Collar Smart Harness and Vest Others (Other Tracking Devices) By Region North America (By Technology, Application, Device Type, and Country)   U.S. (By Application) Canada (By Application) Mexico (By Application) Europe (By Technology, Application, Device Type, and Country) Germany (By Application) U.K. (By Application) France (By Application) Italy (By Application) Spain (By Application) Russia (By Application) Benelux (By Application) Nordics (By Application) Rest of Europe Asia Pacific (By Technology, Application, Device Type, and Country) China (By Application) India (By Application) Japan (By Application) South Korea (By Application) ASEAN (By Application) Oceania (By Application) Rest of Asia Pacific Middle East & Africa (By Technology, Application, Device Type, and Country) Turkey (By Application) Israel (By Application) GCC (By Application) North Africa (By Application) South Africa (By Application) Rest of the Middle East & Africa South America (By Technology, Application, Device Type, and Country) Brazil (By Application) Argentina (By Application) Rest of South America