New York, Jan. 26, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Pet Smart Tracker Market Size, Share & Industry Trends Analysis Report By Pet Type, By Distribution Channel, By Technology, By Regional Outlook and Forecast, 2022 - 2028" - https://www.reportlinker.com/p06412072/?utm_source=GNW
The running away can be due to any reasons, ranging from boredom to exploration purposes. Whatever may be the reason, a missing pet will always cause stress, fear, and anxiety to their owners as most of the owners consider their pets are part of their family, and without any good lead, they are tough to find.
A tracker fitted inside the pet’s collar can be very beneficial in such cases as it can provide the location of the pet, which is often linked wirelessly to a smartphone device through Bluetooth or Wi-Fi, and provide insights that aid in the activity and tracking of the pet.In addition, some advanced devices may also be used for training purposes and include several other parameters like GPS, location buzzer, and temperature monitoring.
Also, the demand for pet tracker is increasing due to the growth in working individuals. Due to their late working hours, owners want to know about their pet’s whereabouts and wish to connect with them from their workplace, which some advanced smart collars with tracking devices can enable. The growth in the per capita disposable incomes of families, a hike in the trend for nuclear families, and the humanization of pets are the reasons for the increase in pet adoption and usage of pet-related products.
For a long time, dogs have been more favored pets than other animals. But with the hike in people living in apartments, the popularity of small pets like cats is also increasing. In addition, the pet product businesses are rising as more couples opt not to have children, and choosing pets as an alternative is expanding.
COVID-19 Impact Analysis
During the pandemic period, residents across the affected nations were forced to be at home due to the imposed lockdown. As a result of this, pet adoptions increased, especially in nations with high individualism rates. This can be attributed to the fact that animal shelter homes in many countries faced a high surge in demands for adopting a pet due to the newly risen work-from-home trend. The growing demand for pets has also increased the market for various pet-based accessories. With a high adoption rate and emotional attachment during the last few years, pet welfare products have grown significantly.
Market Growth Factors
Allow Pets Exploring Outdoors Securely
Pets love running around, exploring their surroundings, and being outdoors without leashes. Many owners desire to send their pets outdoors and let them explore their neighborhood or run freely in their backyard without having to constantly look at them or make them be in a particular place. Pet trackers can help lower the owner’s stress level when their pets are alone and also save them from installing high fencing around their house to keep their pets from running away.
Growing Concerns Towards Pet’s Health & Care
There is a rise in pet health awareness among owners. The increasing adoption of animals as companions for children or adults and even for security & status purposes raise the adoption rate and the expenditure on their care. Private and public organizations have launched many initiatives to educate parents about their pet’s needs and care. Affection and Companionship are the basic pillars in the relationship between a pet and its owner. The rise in awareness towards the healthcare of pets is expected to boost the market for pet smart tracker.
Market Restraining Factors
Signal Obstruction And Battery Life Span
Battery failure is a factor that can cause deep troubles for the pet and the owners. Trackers that rely on GPS technology can often suffer from battery failure. As these trackers are completely mobile devices, they hugely depend on a detachable or rechargeable battery. The GPS units and other electronic components responsible for storing data get the required power from the battery. The life span of this battery in a GPS collar lasts around a year if the conditions are ideal.
Pet Type Outlook
Based on the pet type, the pet smart tracker market is segmented into dogs and cats. The dogs segment procured the largest revenue share in the pet smart tracker market in 2021. This is due to the rising nuclear family trends, couples without children, dual income families, and the preference to choose dogs for security and companionship purposes. Dogs are the most common type of household pets.
Technology Outlook
On the basis of technology, the pet smart tracker market is divided into RFID, GPS and others. The GPS segment garnered the highest segment revenue share in the pet smart tracker market in 2021. The segment’s growth is result of the rising demand to monitor pet activities. GPS trackers provide progress in live positioning through smartphones and vast map areas. To further increase its usage, the GPS service providers have made various agreements with app developers, retailers, and phone manufacturers, so that pet owners can easily connect with the services.
Distribution Channel Outlook
By distribution channel, the pet smart tracker market is classified into offline and online. The online segment acquired the largest revenue share in the pet smart tracker market in 2021. This is due to the benefits like free home delivery and discounts. A variety of products are available in the online distribution market with a broader range of selections. The expansion of the pet smart tracker can be attributed to the simple accessibility from numerous marketplaces like the internet and modern trade.
Regional Outlook
Region-wise, the pet smart tracker market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region dominated the pet smart tracker market with maximum revenue share in 2021. Nowadays, more individuals are treating their pets such as dogs, cats, birds, and other animals as a part of their family and hence developing family-like emotions with them. Thus, they are spending more on their daily needs and safety items. This is rising the demand for pet smart tracker across the North America region.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Jio, Inc. (Life360, Inc.), Whistle Labs, Inc. (Mars Petcare) (Mars Incorporated), Dynotag, Inc., Felcana (Pet Technology Limited), High Tech Pet Products, Inc., NUM’AXES, Loc8tor Ltd., Avid Identification Systems, Inc., and Datamars SA.
Scope of the Study
Market Segments covered in the Report:
By Pet Type
• Dogs
• Cats
By Distribution Channel
• Offline
• Online
By Technology
• GPS
• RFID
• Others
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• Jio, Inc. (Life360, Inc.)
• Whistle Labs, Inc. (Mars Petcare) (Mars Incorporated)
• Dynotag, Inc.
• Felcana (Pet Technology Limited)
• High Tech Pet Products, Inc.
• NUM’AXES
• Loc8tor Ltd.
• Avid Identification Systems, Inc.
• Datamars SA
Unique Offerings
• Exhaustive coverage
• Highest number of market tables and figures
• Subscription based model available
• Guaranteed best price
• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06412072/?utm_source=GNW
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