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The latest report by IMARC, titled “ SmartConnectedPetCollarMarket:GlobalIndustryTrends,Share,Size,Growth,OpportunityandFor ecast2022-2027
” " the global smart connected pet collar market reached a value of US$414.4 Million in 2021.A smart connected pet collar refers to a device that is generally used for tracking the activities of pets. It is usually equipped with a global positioning system (GPS) solution, wireless fidelity (Wi-Fi), Bluetooth and long-term evolution (LTE) connectivity that aid in monitoring pet activities remotely and help in addressinghealth-relatedissuesinadvance.
It can be connected to a smartphone that reflects the information related to heart and respiratory rates, location, and the total time of movement of pets. The demand for smart connected pet collarsisrisingamongpetparentssincetheyareconvenienttouseandmanage.
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The global market is primarily driven by theincreasing pet humanization trend among the masses. Coupled with the rising adoption of pets and the growing concerns regarding pet health and wellness, this is creating a positive market outlook. The demand for smart connected pet collars is further impelled by the inflating disposable income levels of the masses and the widespread adoption of smartphones among individuals. Moreover, continuous improvements in the e-commerce infrastructure, along with the advent of online delivery models,are propelling the demand for smart connected pet collars across the globe. Additionally, numerous leading players are heavily investing in product innovations, thereby providing a boost to the market growth.
For instance, the introduction of smart pet collars that allows the setting of fitness goals as per the breed, weight and age of pets andthe rising integration of flashing light-emitting diode (LED) and geofencingfeature with these collars are gaining prominence among the masses. Other factors, including the growing number of pet shelters and animal hospitals on the global level and the advent of 5G technology, are also favorably influencing the market. On account of the aforementioned factors,the market is anticipated to reach a value of US$ 684.1 Million by 2027, exhibiting a CAGR of 8.83% during 2022-2027.
Looking forward, the market value is projected to reach a strong growth during the forecast period (2022-2027).
MarketSummary:
BreakupbyPetType:
•Cat
•Dog
BreakupbyApplication:
•GPSLocationMonitoring
•ActivityandHealthMonitoring
•Multi-purposeMonitoring
•Others
BreakupbySalesChannel:
•Offline
•Online
BreakupbyRegion:
•NorthAmerica
•UnitedStates
•Canada
•Asia-Pacific
•China
•Japan
•India
•SouthKorea
•Australia
•Indonesia
•Others
•Europe
•Germany
•France
•UnitedKingdom
•Italy
•Spain
•Russia
•Others
•LatinAmerica
•Brazil
•Mexico
CompetitiveLandscapewithKeyPlayers:
FitBarkInc.
GarminLtd.
MarsIncorporated
PetPace
RadioSystemsCorporation
RAWRInc
ScollarInc.
Tractive
• WagzInc.
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