Pet wearable continues to witness lucrative opportunities across countries on the backdrop of increasing average household spending on pets worldwide. Moreover, growth in obesity and failure in identification of pets has also influenced the adoption of pet wearables owing to increasing demand for highly précised pet wearables. This has encouraged manufacturers to invent new technologies for pet care products providing increased accuracy and monitoring of pets. The trend of human fitness technology being adopted for pets is further anticipated to create remunerative growth opportunities for the pet wearables market.

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Advancement in technology such as use of cloud based data analytics has impacted the pet wearables manufacturing sectors, creating demand for advanced technologies that helps in easy and efficient diagnostics and monitoring of pets. Increased implementation of digital maps in mobile phones and easy installation of pet care based applications for real-time tracking and monitoring of pets is creating lucrative opportunity for pet wearable market. However, spending on tech enabled pet care products is less as compare to spending over for other necessities of a pet.

A recent Fact.MR study foretells the pet wearables market to record an expansion at 7.6% CAGR over the forecast period (2018-2028). Pet wearables continues to witness increased traction in GPS based technology. However proper innovations in RFID based products for increased accuracy will gain impressive growth in some of the regions.

Pet Wearables Market – Growing Influenced burgeoning in GPS technology

Development in pet wearables is fueled by the use of different technologies for tracking and analyzing overall activities performed by pets offering a potential boost to the adoption of new technologies such as enabling tracking of multiple pets on a single pet wearable.

This growth in the pet wearable industry is ideally justified by the growing awareness amongst the end-users and increased investments by companies to cater the need for pet wearables, with a view to manage expanding number of pet ownerships. The rapid increase in the use of tech based pet care products as a smart home ecosystem has translated into a significant increase in demand for pet wearables, in turn driving the growth of its market.

Pet Wearable Market – GPS technology for efficient monitoring

A variety of sustainable technologies are being adopted by pet wearable manufactures to provide higher accuracy and precise results. GPS is a sustainable technology which has least complexity and provides much accurate results. GPS potentially provides both real-time and historic navigation data which helps in efficient monitoring and tracking of pets anytime without having physical presence with the pet. This increases pet activity captures without taking real time care of pets. GPS, has also helped in identification of pets and even tracking the exact location of pet in case the owner is not able to find the pet. For pet training as well as pet entertainment, such technologies are being adopted. These technologies also helps in maintaining overall pet history such as pet medical diagnostics, overall sleep time of a pet etc. Adoption of such methods can reduce losing of pets as well as decreasing any type of deficiency in pet like obesity, low nutrition etc.

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With the growing adoption of tech based pet care products, manufacturers are inventing new and attractive technologies of pet wearables.

 Pet Wearables Market – Invention of new technologies decreases cost thereby increasing accuracy

According to a survey by APPA, Americans will spend an estimated $1600 on their pets yearly out of which 6.7% will be spent on the tech based pet monitoring products. It is high among other regions of the globe. In addition, smartphones, along with new products and applications, will help the owners to monitor, feed and track their locations. With advancements in technology, the cost of the pet wearable will decrease apparently in the forthcoming years which will directly provide healthy growth to the pet wearable market. Such advancement in the technology with decreasing cost and increasing efficiency will provide definite growth to the market. Due to growing efforts in the pet wearables, new finishes in the technology of pet wearables have been introduced which help users to not only track the pets rather have real time video talk with the pet without having physical presence. In addition, implementation of new technologies allows pet wearables keep a real time accurate track on the pets providing high safety and security. Introduction of the new technologies are likely to boost the adoption of advanced pet wearables in the estimated period.