The global pet wearable market size is estimated to reach USD 4.6 billion by 2027, registering a CAGR of 14.3% over the forecast period, according to a study conducted by Grand View Research, Inc. Increasing concerns toward companion animals’ health and wellbeing, coupled with rising pet humanization and population, is anticipated to be the key factor driving the growth of the market over the forecast period. In addition, increasing expenditure on pet consumables and rising demand for identification and tracking devices are some of the key factors driving the market growth.

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According to the American Pet Products Association (APPA), the expenditure on companion animals in U.S. is expected to be USD 72.1 billion in 2018. Several advancements in technology is expected to lead to an increased demand for these wearables over the forecast period. Wearables are capable of continuously tracking health-related parameters such as body temperature, calorie intake, and Heart Rate Variability (HRV). Moreover, sensor technology is integrated into wearable devices to monitor and measure health metrics such as heart rate and respiration levels. It also enables pet owners to check disease symptoms, store medical records in the cloud, and set goals and reminders. …

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Gaurav Shah

I am working in Market Research Company. So my job in research is to provide answers & guidance to our clients as they relate to marketing and consumer science.

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