Smart Connected Pet Collar Market by Pet Type and Sales Channel: Global Opportunity Analysis and Industry Forecast, 2019-2026

Executive Summary

According to the report titled 'Global Smart Connected Pet Collar Market by Pet Type and Sales Channel: Global Opportunity Analysis and Industry Forecast, 2019-2026,' the global smart connected pet collar market size was valued at$322.7 million in 2018, and is projected to reach $653.5 million by 2026, registering a CAGR of 9.5% from 2019 to 2026.

Smart connected pet collars are collars designed for tracking and monitoring of pets. These collars help monitor the health of the pets via mobile application. They are equipped with wireless tracking instruments, and tracks the pet’s vital health parameters including but not limited to temperature, heart rate, and so on. These trackers also monitor the pet’s body posture and identifies pain or the recovery process from injuries by monitoring trends. Furthermore, these collars also track total calories burned by pets for weight loss information. Hence, smart connected pet collars play a vital role for monitoring obesity among pets. Smart connected pet collars help detect health issues at early stages and prevents further suffering &significantly reduces health-related medical bills for pets. As pet are unable to communicate their health problems and pains, the smart connected pet collars come into great aid for cats and dogs.

The concept of pet ownership is not just limited to developed countries, such as the U.S., China, Japan, the UK, and Australia, but is also escalating in the developing nations, such as India, Bangladesh, Iran, and others. With the rapid increase in personal disposable income, the people in such nations are able to own a pet and provide the best quality of life to them. The Asia-Pacific smart connected pet collar market is expected to experience tremendous growth, owing to increase in pet population. Furthermore, improvement in consumer lifestyles and increase in incomes in developing countries results in increased acceptance for pets among all income groups.

According to Shankar Bhandalkar, Team Lead-Research, Consumer Goods, “The prevalence of smart connected pet collars is low in developing countries, however, with proliferating smart technologies in emerging region, smart connected pet collars market is expected to gain high traction in the upcoming years.

The global smart connected pet collar market is segmented on the basis of pet type, sales channel, and region. Depending on pet type, the smart connected pet collars market is bifurcated into cat and dog. Based on sales channel, the global market is studied across offline and online channels. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA

KEY FINDINGS OF THE STUDY

• North America leads in terms of smart connected pet collar market share and is expected to retain its dominance during the forecast period.
• U.S. was the highest contributor to the global smart connected pet collar market, with $151.3 million in 2018. The country is expected to generate revenue of $274.5 million by the end of the forecast period.
• In 2018, based on sales channel, the offline segment leads in terms of global smart connected pet collar market share in 2018.However, this segment is expected to lose market share, owing to growing prevalence of online sales channel.
• The online sales channel segment to gain significant traction in the upcoming years and is expected to witness CAGR of 10.6% during the forecast period.
• The dog segment accounted for around68% share of the smart connected pet collar in 2018,and is poised to grow at a significant CAGR during the forecast period.
• Based on region, Asia-Pacific is anticipated to grow with robust CAGR of 12.3% during the forecast period.

Some of the key players operating in the smart connected pet collar market analysis include FitBark, Radio Systems Corporation, Tractive, PetPace, Eureka Technology Partners, LLC, Scollar, Wagz, Inc., KYON, Whistle Labs Inc., Fi.

Companies Mentioned

• FitBark
• Radio Systems Corporation
• Tractive
• PetPace
• Eureka Technology Partners LLC
• Scollar
• Wagz Inc.
• KYON
• Whistle Labs Inc.
• Fi.

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

• Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
• Scientific and technical writings for product information and related preemptions
• Regional government and statistical databases for macro analysis
• Authentic news articles and other related releases for market evaluation
• Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.