As per the latest study by Global Market Insights Inc., the global pet wearable market  size is slated to account for USD 15 billion over the course of the next ten years, from 2023 to 2032.

The pet wearable industry is likely to witness a significant surge over the coming years with pet adoption and pet humanization expanding at a rapid pace. As per American Pet Products Association statistics, pet-related spending increased from USD 90 billion in 2018 to a whopping USD 123 billion in 2021. A major chunk of this investment comes from the growing sales of pet wearables.

These devices boast the ability to support early diagnosis of diseases and behavioral issues. The accumulated data from these wearables can also warn pet owners regarding stress and other prevalent medical conditions.

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Some of the key trends that are pushing the market growth include:

Increasing demand for smart collars

Smart collars are devices that enable owners to track their pets using cellular and GPS signals. It also allows owners to create invisible fences for the pets to stay within. Various smart collars also include fitness and health tracking and other advanced features such as sleep monitoring and tracing licking, scratching, and other indicators of potential health issues.

Recent innovations in the smart collar marketplace are expected to contribute to the growing product sales. For instance, Invoxia in 2023, launched a smart dog collar at the Consumer Electronics Show 2023. The product is equipped with advanced heart tracking technology on par with human ECGs and is known to detect and monitor a dog’s heartbeat and breathing using AI and sensors.

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Rising integration of sensors in pet wearables Pet wearable devices comprise sensors that work in conjunction with other wearable technologies inclusive of RF trackers and GPS trackers. Sensors collect the pet’s vital signs and analyze the information to alert the owners of early signs of trouble. Moreover, location tracking sensors are also becoming one of the preferred functionalities for pet wearable device producers.

In 2020, researchers at the Imperial College in London devised a new health-tracking sensor for pets that monitors essential signs through the fur. The technology can detect signs like breathing and heart rates via fur, making it possible for vets and owners to track their pet’s health and well-being.

Adoption of rescue pets by Millennials in APAC

Rescue pet adoption has only been gaining momentum across the Asia Pacific countries in recent years. As per reliable reports, the Indian subcontinent has nearly 8.8 million stray cats and dogs living in shelters. This trend has potentially opened new doors to the demand for pet wearable devices from shelter owners to keep track of animal health.

Moreover, increased spending on pet health has added impetus to the growth of pet wearable business in the region. According to a 2021 survey by Japanese Ipet Holdings, the overall spending of pet parents in the country increased by 4.3% in 2021 compared to 2020.

Constant product innovations

Some of the big names in the global pet wearable industry are Whistle Labs, Afimilk Ltd., Wagz, Inc., Petcube, Inc., Scollar, Inc., Halo Collar, Dogtra, Tractive, and IceRobotics Ltd., amongst others. These market vendors are upping their games to gain a prominent position in the overall marketplace by engaging in various organic and inorganic marketing strategies such as partnerships, acquisitions, product launches, and research studies.

In 2021, Smart Tracking Technologies, LLC’s Link Smart Pet Wearable launched a series of dog obedience instructional videos to complement the product’s remote vibration and tone tools. The holistic series encompasses a diverse range of resources and short videos by Link’s dog training specialists.

With more focus being put on pet health by owners and growing consumer spending worldwide, the sales of pet wearables is estimated to soar to new heights in the coming years. Technologies such as Bluetooth and GPS are sure shot to make way in the industry over the forecast time, enabling manufacturers to build a strong product portfolio for the animal healthcare sector.

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