The Asia Pacific Pet Wearable Market would witness market growth of 14.7% CAGR during the forecast period (2022-2028).
In recent years, the pet industry along with its associated industries, such as pet accessories, pet food, and others, has significantly grown. Pets can benefit from a variety of services, including pet daycare, grooming, nutritional supplements, pet accessories, and, most recently, pet wearables and communication devices. Moreover, the capabilities of pet wearables devices are more than just tracking the location of the pet t wearables. Fitness tracking, sleep, steps, behavior, and diet are also a few of the value-added services that are always being researched and developed.
Pet wearables are being developed by a number of companies. New entrants and prevailing businesses in the pet wearables industry are currently focusing on product innovation as well as service integration. Xiaomi, for example, has combined its human pedometers along with pet trackers in order to offer additional fitness data and analytics to its consumers. Some businesses are focusing on communication protocols for pet monitoring, such as NB-IoT. The functionality of currently utilized sensor technologies would be enhanced by these new communication protocols.
Pet adoption is increasing at a rapid speed, particularly in developing nations like China, India, and Vietnam. China is home to a large pet wearables manufacturing industry. Moreover, China is also a technological hub, which innovates a lot of advanced and cutting-edge technologies. As a result, the demand for advancements in the pet wearable technology in the region is expected to rise in the near future. Pet adoption, as a culture, is becoming increasingly prominent in cities as a result of western culture's dominance.
The China market dominated the Asia Pacific Sensors Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $101.9 Million by 2028. The Japan market is anticipated to grow at a CAGR of 14.6% during (2022 - 2028). Additionally, The India market would display a CAGR of 16% during (2022 - 2028).
Based on Application, the market is segmented into Identification & Tracking, Behavior Monitoring & Control, Facilitation, Safety & Security, and Medical Diagnosis & Treatment. Based on Technology, the market is segmented into RFID, GPS, and Sensors. The report also covers geographical segmentation of Pet Wearable market. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Pet Wearable Market is Projected to reach USD 4.9 Billion by 2028, at a CAGR of 13.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Allflex Group (MSD Animal Health), Garmin Ltd., Avid Identification Systems Inc., Datamars SA, FitBark, Inc., Radio Systems Corporation, Trovan, Ltd., PetPace LLC, Mars, Inc., and Tractive.
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