Miércoles 22 de Agosto 2018

Global Pet Wearable Market to Grow at a CAGR of over 16% Through 2020, Says Technavio

LONDON–(BUSINESS WIRE)–#ConnectedDevices–According to the latest market study released by Technavio,
the global
pet wearable market
is expected to grow at a CAGR of more
than 16% during the forecast period.


This report titled ‘Global
Pet Wearable Market 2016-2020
’ provides an in-depth analysis of
the market in terms of revenue and emerging market trends. This market
research report
also includes an up to date analysis and forecasts
for various market segments and all geographical regions.

According to Abhishek Sharma, a lead analyst at Technavio for M2M
and connected devices
research, “The reduced price of sensors
embedded in pet wearables is a major factor responsible for significant
market growth during the forecast period.”

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The report categorizes the global pet wearable market into three major
technology segments. They are:

  • RFID technology
  • GPS technology
  • Others

Global pet wearable market by RFID technology

The global pet wearable market by radio-frequency identification (RFID)
technology is expected to grow at a CAGR of more than 15%. The rising
trend of adopting pet RFID tags in pet tracking is the factor propelling
the market growth. RFID chips with a unique identification number are
pinned to a pet’s skin to identify lost pets on a nation-wide database
and reunite them with pet parents.

RFID tags are designed for frequencies such as low frequency (LF) and
ultra-high frequency (UHF). The vital application for LF RFID is animal
tracking, which requires less energy for processing the application. The
UHF-based RFID tags record continuous readings of a pet’s daily
activities. Livestock tracking RFID systems require UHF RFID to track
the animal’s motion for identifying feeding, heartbeat rates, and travel
habits. RFID tags provide farmers the benefit of traceability of their
livestock.

“Developments in RFID technology, legislation, and wide scale public
acceptance and adoption are boosting the use of this technology in
veterinary practices. More than 3 million pet parents have used the RFID
chip for tracking their pets,”
says Abhishek.

Global pet wearable market by GPS technology

The global pet wearable market by GPS
technology
is expected to grow at a CAGR of close to 19%.
GPS technology has great accuracy in identifying real-time location of a
pet. For instance, Findster Pets, a GPS tracker, lets pet parents
track their pet’s location in real-time with the use of precise GPS
technology. All these GPS-enabled pet wearable devices effectively
establish communication between the pet module and its parent module. In
addition, it has benefits such as zero monthly monitoring fees.

Increased accuracy of satellites in tracking pets anywhere in the city
or country enables the growth of this application segment. Increased
ease of access to GPS technology enables growing availability of GPS
trackers in the market. The presence of enhanced network infrastructure
enables intelligence and seamless connectivity. This also helps to
monitor pets from remote locations and control their activities with the
help of smartphones and tablets.

Global pet wearable market by other technologies

The global pet wearable market by other technologies is expected to grow
at a CAGR of more than 14%. Other technologies include the use of
temperature sensors
to detect the body temperature of a pet (Bio-sense technology).
These technologies can monitor the pet’s location and its activity and
notify pet parents via SMS or a voice call if pets bark or leave a
pre-defined perimeter. Studies are under development to incorporate more
temperature sensors to monitor complete health parameters of pets. This
simplifies the research activities of veterinarians to analyze animal
behavior. These temperature sensors use either RFID or GPS technology to
notify if a pet is in danger of overheating or freezing.

Pet tracking devices such as KYON has an integrated combination
of sensors including heat and water sensors in addition to GPS and
ultrasound buzzer. The KYON collar also has the Pacifier mode, which
provides alerts when pets get loud or aggressive by emitting a
high-frequency sound to calm the pets down. Strategic collaborations
between device vendors and telecom service providers enable this segment
to witness constant market penetration. For instance, Vodafone enables
KYON collar in 120 countries by providing the Vodafone microchip, which
gets activated if the dog goes missing. The presence of enhanced
worldwide GSM connectivity is propelling the market growth of
this segment.

The top vendors highlighted by Technavio’s ICT
research analysts in this report are:

  • FitBark
  • i4C Innovations
  • Whistle Labs
  • PetPace
  • Tractive

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About Technavio

Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.

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and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.

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