Pet Wearable Market 2023-2032; Growth Forecast & Industry Share Report

As per a recent research report, Pet Wearable Market to surpass USD 25 Bn by 2032.

Pet Wearables Market is anticipated to grow considerably through 2032, owing to a surge in pet adoption across the globe. An increasing number of pets has impelled the demand for advanced monitoring & tracking devices, especially across North America. Pet wearable devices help control and track the movement of companion animals. Besides, modern devices work as animal translators, help to analyze pet manners, needs, and moods, and enhance the relationship between pet and owner.

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Based on the product, the smart vest segment is anticipated to grow considerably through 2032. Smart vests are being increasingly used by pet owners to enhance pet safety. They also offer a range of features that empower owners to track their pet's activity levels, such as their exercise, sleep, and rest patterns.

By technology, the GPS segment has been gaining massive momentum over the past few years. GPS trackers help detect the real-time location of the pet. Besides, an increasing number of innovative smart collars integrated with GPS trackers are now available at reasonable prices, which is anticipated to spur its adoption in the coming future.

Considering the application, the medical diagnosis & treatment segment held over 20% market share in 2022. Increasing pet ownership and rising awareness regarding the health and fitness of pets will drive the adoption of advanced pet wearables for medical diagnosis and treatment during the estimated timeframe.

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In terms of end-use, the commercial segment is expected to grow positively during 2023-2032. Increasing adoption of pet wearables for horses and livestock for analyzing and monitoring their fitness and health in commercial applications will support the segmental growth. Besides, these devices offer a range of integrated GPS equipment for livestock, aiding detection of predator activity & health conditions.

Regionally, the Europe pet wearables market will grow at over 10% CAGR through 2032. The regional growth will come from the increasing trend of pet adoption among the baby boomer generation and young millennials, fueled by the quick pace of social and economic change. Moreover, as younger generation of professionals become more solitary, a high demand for the pet wearable devices in the region would escalate the market dynamics in the near future.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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