With active advancements in technology and its expanding reach merged with the Internet of Things (IoT), the global population is benefitting a lot. In the recent past, the availability of different smart pet-tech products such as pet activity monitors, GPS trackers has increased. In order to study the actual market presence of such products, Fact.MR has published a new research study which focuses on pet wearables through the period until 2028. This research report is titled “Pet Wearables Market Forecast, Trend Analysis & Competition Tracking – Global Market insights 2018 to 2028”, which discusses the lucrative opportunities and innovations happening in the overall pet wearables sector. According to analyzed statistics, the pet wearables market is projected to exhibit a strong CAGR of 7.6% throughout the assessment period, 2018-2028.
It is highlighted that improvement in technology such as the utilization of cloud-based data analytics has influenced the pet wearables manufacturing sectors. This has further created demand for advanced technologies which assists in easy and effectual diagnostics and observing of pets. Furthermore, the increased operation of digital maps in mobile phones, as well as easy connection of pet care based applications primarily for real-time tracking & monitoring of pets, is generating the lucrative chance for the pet wearable market.
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The research report starts with the executive summary that offers precise details associated with opportunity assessment. Further, readers can acquire knowledge through the market overview section. There are useful aspects such as key growth drivers, key challenges and key market opportunities which are carefully enclosed in this research report. As per current trends, a variety of sustainable technologies are incorporated by pet wearable manufacturers to deliver higher accuracy along with precise results. GPS is ranked as a sustainable technology which holds the least complexity and offers accurate results. In addition, GPS actually provides both historic navigation and real-time data which helps in proficient monitoring and tracking of the pets anytime.
Considering the geographical expanse, the Asia Pacific excluding Japan (APEJ) pet wearables market is expected to showcase prominent growth in the coming years. This growth is driven by the developments and trends experienced across emerging economies of India and China. With a major rise of pet ownership amongst the escalating middle class in China, investors are looking ahead to encash the thriving opportunities in the nation, volunteering into an improvement of wearables like activity monitors and GPS trackers for pets. Similarly, the pet wearables market in India has also imitated tremendous potential due to rising demand at an astounding rate of 8.3% during the 2018-2028 period.
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The overall market for pet wearables is split on the basis of the product type that includes pet cameras, GPS trackers, activity monitors, pre-emotion sensors and pet-to-human translators. Furthermore, the global market is divided based on distribution channel into speciality stores, modern trade, e-commerce and franchised stores. Some other factors used for market bifurcation include technology and application, each of which is analyzed in terms of market attractiveness, value forecast and Y-o-Y growth comparison.
Finally, readers can access data related to the various manufacturers operating in the global pet wearables market. These companies are assessed on the basis of production facilities, product offering and SWOT analysis. Some of the main players from the pet wearables market are Whistle Labs LLC., Tractive GmbH, Motorola, Fitbark, Petzila, DOGTRA Co. Ltd., Petcube and Loc8tor Ltd.
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