LAMEA Pet Wearable Market Size, Share & Industry Trends Analysis Report By Application, By Technology (RFID, GPS, and Sensors), By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Latin America, Middle East and Africa Pet Wearable Market would witness market growth of 16.1% CAGR during the forecast period (2022-2028).
Companies, such as Huawei, CAS Tecnologia, Vivo, and PinMyPet. Multiple labs and field testing in real-time scenarios are part of these companies' research. The hardware for proprietary pet wearables was tested on the 2G band. The company recently announced the availability of its latest 5G compatible cellular modules as well as a low-power chipset for IoT applications. The company's long-term growth in the pet wearables industry would be aided by the imminent adoption of 5G networks in the market. The goal of the IoT study for pet wearables is to make pet tracking easier. For the pet wearables sector to survive, creative applications of pet wearables must be developed. In addition, the emergence of E-commerce for pet wearables would become the market's primary growth driver. Companies have preferred to use their own proprietary e-commerce channels in the past.
Brazil is one of the world's largest pet food market owing to the increasing adoption of pets in the country. Due to high pet ownership, an increasing focus on pet health, and substantial expenditure on efficient pet tracking and health monitoring device, Brazil is a very promising market in the regional pet wearable sector. Furthermore, small families, couples without children, and apartment residents prefer dogs and cats as their pets, making Brazil one of the most lucrative hubs for regional market players. Furthermore, a number of key market players are establishing themselves in the region to take advantage of the industry's potential. To address the market's unmet needs, these companies are expected to produce cost-effective and innovative products.
The Brazil market dominated the LAMEA Pet Wearable Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $88.3 Million by 2028. The Argentina market is estimated to grow a CAGR of 16.7% during (2022 - 2028). Additionally, The UAE market would experience a CAGR of 15.8% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Pet Wearable Market is Predict to reach $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.
Scope of the Study
Market Segments Covered in the Report:
- Identification & Tracking
- Behavior Monitoring & Control
- Facilitation, Safety & Security
- Medical Diagnosis & Treatment
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Allflex Group (MSD Animal Health)
- Garmin Ltd.
- Avid Identification Systems Inc.
- Datamars SA
- FitBark, Inc.
- Radio Systems Corporation
- Trovan, Ltd.
- PetPace LLC
- Mars, Inc.
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