Smart Connected Pet Collar Market

Global Smart Connected Pet Collar Market Size (2024 to 2029) 

The global smart connected pet collar market is expected to be worth USD 659.6 million by 2029 from USD 419.06 million in 2024, growing at a CAGR of 9.5% from 2024 to 2029.

Current Scenario of the Global Smart Connected Pet Collar Market

Smart-connected pet collars are designed to monitor the temperature, heart rate, position, and location of pets through wireless communication media. These necklaces display all the necessary information that you have collected through mobile apps. They are specially designed to monitor and track the location of pets. Moreover, veterinarians also use this information to treat pets.

MARKET DRIVERS

Technological advancements and the growing adoption of companion animals are contributing to the growth of the global smart-connected pet collar market.

The growing spending on pet products, rising cases of animal loss, ongoing surveillance and monitoring of pet health, and ease of use of smart wearables are majorly driving the growth of the smart connected pet collar market. Additionally, new aesthetic innovations have gained popularity in recent years, which in turn is supposed to create lucrative opportunities for market expansion in the coming years.

The growing adoption of smartphones ensures better use of IoT for pet care and general surveillance. The animal is next to a human baby to many people and needs constant care and attention. The most recent study on pet ownership conducted by the American Pet Products Association (APPA) found that 68% of all U.S. households own a pet and an increasing number of these people see their pets as members of the family.

In developed countries, smart connected pet collars are more popular and in high demand than in developing countries. High per capita income and the presence of Tier 1 companies are the main market drivers in developed countries. Furthermore, significant consumer knowledge about the products available in the market is supposed to drive the future growth of the smart connected pet collar market in developed areas.

The relationship between the owner and the animal is much higher. So, it's very dramatic when the owner's pet is lost or stolen because there is an emotional connection. Along with the growth of the conventional wearable device market, the smart connected pet collars and wearable pet devices market has grown. The smart connected pet collar is a versatile tool, unlike the traditional collar that can connect wirelessly to a smartphone via Wi-Fi or Bluetooth and provides information that helps track pet activity and location. The smart pet collars can also be used for training and include various settings like GPS, temperature, and buzzer for location. In addition, the growing demand from people who work for the control of pets is one of the growth factors of the global smart connected pet collars market. Additionally, due to late working hours, pet owners demand smart connector collars that allow them to monitor their pets from their workplace.

MARKET RESTRAINTS

Factors such as increased pet allergy and high cost compared to their counterparts are expected to hamper the global market growth.

Impact of COVID-19 on the global smart connected pet collar market

The coronavirus pandemic has had a strong impact on consumer spending around the world. The loss of income during the lockdown and the uncertain future is supposed to affect consumer spending on pet ownership and care. However, the pandemic has made it possible for pet owners to spend more time with their pets and to better understand their nutritional and emotional needs. The stronger ties are expected to drive demand for IoT-enabled pet care products once economic conditions improve.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Smart Connected Pet Collar Market By Pet Type

Based on pet type, the dog segment held the largest share of the global market in 2023, however, the cat segment is predicted to grow with the highest CAGR during the analysis period. The increasing popularity of smart connected products, due to their multiple benefits, has resulted in an increased demand for smart wearables in developed regions. Additionally, extensive advertising and marketing increased consumer awareness of smart technology and augmented spending and pet products are expected to drive the growth of the smart connected pet collars market.

Global Smart Connected Pet Collar Market By Sales Channel

Based on sales channels, the online segment is expected to lead the market during the forecast period. Online channels will continue to gain popularity in the coming years as they offer greater advantages over points of sale. American, French, and Canadian pet owners especially prefer online sales to the traditional channel, due to its many advantages, such as a hassle-free shopping experience, varied options, and countless offers.

REGIONAL ANALYSIS

According to estimates by the American Pet Products Association, Inc. (APPA), in 2019, money spent on pets in the United States was $ 95.7 billion.

North America leads in terms of market share; however, the Asia-Pacific region is predicted to grow with the highest CAGR during the outlook period. The growth of the North American market is attributed to heavy investment in research and development, coupled with strong consumer awareness and willingness to pay for advanced technologies. These include expenses for pet food, medical care, treatment, general care, and other grooming services.

KEY MARKET PLAYERS

Companies playing a notable role in the global smart connected pet collar market include FitBark, Radio Systems Corporation, Tractive, PetPace, Eureka Technology Partners, LLC, Scollar, Wagz, Inc., KYON, Whistle Labs Inc., and Fi

RECENT HAPPENINGS IN THE MARKET

• Tractive recently released a GPS Tracker and Cat Activity Tracker, which allows owners to find out where their cat is going, how long the cat is spending in various locations, and search if necessary. 
• Fit Bark partnered with Fit Bit, which allows them to add more functionality to smart pet collars so that the device can track distance traveled daily, including calories burned.

DETAILED SEGMENTATION OF THE GLOBAL SMART CONNECTED PET COLLAR MARKET INCLUDED IN THIS REPORT

This research report on the global smart connected pet collar market has been segmented and sub-segmented based on type, application, and region.

By Pet Type

• Cats

• Dogs

By Sales Channel

• Offline
• Online

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa