US Pet Wearable Market is estimated to be USD 0.68 Bn in 2023 and is expected to reach USD 1.7 Bn by 2028, growing at a CAGR of 20.13%./strong>In the US, Pet owners take to sophisticated technologies
Market Dynamics
Market dynamics are forces that impact the prices and behaviors of the stakeholders. These forces create pricing signals which result from the changes in the supply and demand curves for a given product or service. Forces of Market Dynamics may be related to macro-economic and micro-economic factors. There are dynamic market forces other than price, demand, and supply. Human emotions can also drive decisions, influence the market, and create price signals.As the market dynamics impact the supply and demand curves, decision-makers aim to determine the best way to use various financial tools to stem various strategies for speeding the growth and reducing the risks.
Market Segmentations
The US Pet Wearable Market is segmented based on Components, Product, Animal, and Applications.- By Components, the market is classified into GPS Chips, RFID Chips, Connectivity Integrated Circuits, Sensors, Processors, Memory, Displays, Batteries, and Others.
- By Product, the market is classified into Smart Collars, Smart Cameras, and Smart Harnesses.
- By Animal, the market is classified into Companion and Livestock.
- By Applications, the market is classified into Identification & Tracking, Behavior Monitoring, Facilitation, Safety & Security, and Medical Diagnosis & Treatment.
Company Profiles
The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are Pawbo, Pet Vu, Petpace, PetSmart, Whistle Labs, etc.Competitive Quadrant
The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.Ansoff Analysis
The report presents a detailed Ansoff matrix analysis for the US Pet Wearable Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.The analyst analyses the US Pet Wearable Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
Based on the SWOT analysis conducted on the industry and industry players, the analyst has devised suitable strategies for market growth.
Why buy this report?
- The report offers a comprehensive evaluation of the US Pet Wearable Market . The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
- The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
- The report includes an in-depth market analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 and the impact of economic slowdown & impending recession on the market are also featured in the report.
- The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
- The report also contains the competitive analysis using Positioning Quadrants, the analyst's competitive positioning tool.
Report Highlights:
- A complete analysis of the market, including parent industry
- Important market dynamics and trends
- Market segmentation
- Historical, current, and projected size of the market based on value and volume
- Market shares and strategies of key players
- Recommendations to companies for strengthening their foothold in the market
Table of Contents
1 Report Description1.1 Study Objectives
1.2 Market Definition
1.3 Currency
1.4 Years Considered
1.5 Language
1.6 Key Stakeholders
2 Research Methodology
2.1 Research Process
2.2 Data Collection and Validation
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Models
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
2.3.2 Top-Down Approach
2.4 Assumptions of the Study
2.5 Limitations of the Study
3 Executive Summary
3.1 Introduction
3.2 Market Size, Segmentations and Outlook
4 Market Dynamics
4.1 Drivers
4.1.1 Surging Demand for IoT in Pet Tracking Devices
4.1.2 Increasing Concerns Toward Pet Health and Well Being
4.1.3 Rising Pet Population and Pet Humanization
4.1.4 Growing Expenditure on Pets Due to High Disposal Income
4.2 Restraints
4.2.1 High Cost and Requirement for Continuous Subscriptions
4.3 Opportunities
4.3.1 Rapid Advancements in Wan and LPWAN Technologies
4.3.2 Exponential Demand for Pet Wearables from Developing Countries
4.4 Challenges
4.4.1 High Power Consumption and Limited Battery Life of Pet Wearable Devices
5 Market Analysis
5.1 Regulatory Scenario
5.2 Porter's Five Forces Analysis
5.3 PESTLE Analysis
5.4 SWOT Analysis
5.5 Impact of COVID-19
5.6 Impact of Economic Slowdown & Impending Recession
5.7 Ansoff Matrix Analysis
6 US’ Pet Wearable Market, By Components
6.1 Introduction
6.2 GPS Chips
6.3 RFID Chips
6.4 Connectivity Integrated Circuits
6.4.1 Bluetooth Chips
6.4.2 Wi-Fi Chips
6.4.3 Cellular Chips
6.5 Sensors
6.6 Processors
6.7 Memory
6.8 Displays
6.9 Batteries
6.10 Others
7 US’ Pet Wearable Market, By Product
7.1 Introduction
7.2 Smart Collars
7.3 Smart Cameras
7.4 Smart Harnesses
8 US’ Pet Wearable Market, By Animal
8.1 Introduction
8.2 Companion
8.3 Livestock
9 US’ Pet Wearable Market, By Applications
9.1 Introduction
9.2 Identification & Tracking
9.3 Behavior Monitoring
9.4 Facilitation, Safety & Security
9.5 Medical Diagnosis & Treatment
10 Competitive Landscape
10.1 Competitive Quadrant
10.2 Market Share Analysis
10.3 Strategic Initiatives
10.3.1 M&A and Investments
10.3.2 Partnerships and Collaborations
10.3.3 Product Developments and Improvements
11 Company Profiles
11.1 Dogtra
11.2 Fitbark
11.3 Garmin Ltd.
11.4 GoPro, Inc.
11.5 Invoxia
11.6 Kyon
11.7 Mars, Inc.
11.8 Pawbo
11.9 Peacock Technology Ltd.
11.10 Pet Vu
11.11 Petpace
11.12 PetSmart
11.13 Whistle Labs
11.14 Xiaomi Corp.
12 Appendix
12.1 Questionnaire
Companies Mentioned
- Dogtra
- Fitbark
- Garmin Ltd.
- GoPro, Inc.
- Invoxia
- Kyon
- Mars, Inc.
- Pawbo
- Peacock Technology Ltd.
- Pet Vu
- Petpace
- PetSmart
- Whistle Labs
- Xiaomi Corp.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 149 |
| Published | January 2023 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value ( USD | $ 0.68 Billion |
| Forecasted Market Value ( USD | $ 1.7 Billion |
| Compound Annual Growth Rate | 20.1% |
| Regions Covered | United States |
| No. of Companies Mentioned | 14 |
