Jersey City, NJ, Nov. 23, 2023 (GLOBE NEWSWIRE) -- InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Smart Pet Training & Monitoring Devices Market- (By Pet (Dogs, Cats, Others), By Product Type (AI-based Training Device, AI-based Smart Games & Toys, AI-based Camera, Smart Wearable Trackers, Smart Feeders, Smart Litter Robots, Others)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."
According to the latest research by InsightAce Analytic, the Global Smart Pet Training & Monitoring Devices Market is expected to represent a CAGR of 8.14% during the forecast period of 2023-2031.
Smart pet training and monitoring devices are technological innovations that aid pet owners in training, monitoring, and caring for their canines. More and more people are getting pets, and with that comes a greater demand for advanced pet training and monitoring tools. Developing cutting-edge smart pet products has been greatly aided by developments in wireless communication and the Internet of Things (IoT). With modern technologies like sensors, GPS, and wireless networking, many innovative and helpful smart pet training and monitoring systems have been created.
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Pet owners increasingly turn to GPS monitoring gadgets and smart collars to ensure their animals are safe and can be quickly returned to them if they get lost. Owners increasingly rely on cutting-edge safeguards, including geofencing and real-time tracking, to keep their dogs secure. Rising spending on R&D (research & development) clearly indicates this trend as an opportunity for market expansion.
Moreover, the increasing demand from working people for pet surveillance, the widespread availability of pet fitness and activity monitoring machines, and the widespread use of advanced technology-based devices to keep tabs on pet health by gathering crucial data will drive the market forward in the coming years. However, the popularity of pet wearables is expected to rise throughout the predicted period thanks to technological improvements that provide data on remote locations and medical needs.
Recent Developments:
- In October 2023, PetSafe, a manufacturer of pet supplies, developed the NanoBark Bark Collar for Small Dogs, the world's smallest bark collar. The collar fits snugly like a wristwatch and helps dogs learn to stop barking in response to everyday sounds. Since it is waterproof and durable, it can be used at home or on the road.
- In May 2022, Whisker announced the release of Litter-Robot 4, the fourth generation of the self-cleaning litter box. In addition to the brand's aesthetically pleasing, new compact design, the Litter-Robot 4 is equipped with advanced litter-sifting technology, real-time monitoring and health insights, and odour neutralization. It was meticulously designed by Whisker's team of over 35 engineers.
List of Prominent Players in the Smart Pet Training & Monitoring Devices Market:
- CleverPet
- Companion Labs
- Furbo
- Dogness
- iFetch
- Whisker
- SureFlap Ltd.
- Cheerble
- Findster Technologies
- FitBark
- Puppod
- Petcube Inc.
- Radio Systems Corporation (PetSafe)
- Spectrum Brands Holdings Inc.
- Smarty Pear
- iKuddle
- Petree Litter Box
- Cosmic Pet
- Petnovations Inc.
- PetKit
- Airrobo
- Others
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Smart Pet Training & Monitoring Devices Market Report Scope:
| Report Attribute | Specifications |
| Growth Rate CAGR | CAGR of 8.14% from 2023 to 2031 |
| Quantitative Units | Representation of revenue in US$ Million and CAGR from 2023 to 2031 |
| Historic Year | 2019 to 2022 |
| Forecast Year | 2023-2031 |
| Report Coverage | The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
| Segments Covered | By Pet, Product Type |
| Regional Scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country Scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; Southeast Asia; South Korea |
Market Dynamics:
Drivers:
The growing demand for smart pet training & monitoring devices is fueled by several factors, including the availability of wearable devices, increased consumer awareness, and rising worries about the health and well-being of pets. However, innovations in wireless area networks, low-cost and high-efficiency wireless sensors, the widespread use of digital maps, and the creation of mobile applications are forecast to fuel market expansion. As a result, the trend toward humanizing pets has increased demand for accessories for these animals. The need for more human-like experiences and products for pets has led to the rise of the pet humanization market.
Challenges:
The prime challenge is high cost, a shortage of competent individuals, and a lack of norms and protocol because of lockdowns and isolation in emerging countries, which is predicted to slow the growth of the smart pet training & monitoring devices market. High-quality pet care solutions tend to be more expensive, which may dampen their popularity among those with lower incomes. In addition, the market is expected to be slowed by the unpredictability of food- and water-borne illnesses transmitted by animals to the owners due to the pets' filthy living practices. As a result, as the number of households with pets expanded due to the spread of COVID-19, so did the need for their proper tagging, monitoring, control, medical diagnosis, treatment, facilitation, safety, and security. Because of these advantages, demand for pet wearable devices increased during the COVID-19 pandemic.
Regional Trends:
The North American smart pet training & monitoring devices market is anticipated to register a major market share in revenue. It is projected to grow at a high CAGR in the near future. Access to modern infrastructure and the expanding acceptance of GPS collars fitted with activity and fitness monitoring devices contribute to the area's rapid expansion. Besides, Europe had a considerable share in the market because people in the area are becoming increasingly concerned for the welfare of their pets, especially dogs and cats, leading to a rise in the demand for technological solutions. European countries have a comparatively high concentration of pet shops and vets due to the region's well-developed pet care infrastructure.
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Segmentation of Smart Pet Training & Monitoring Devices Market-
By Pet-
- Dogs
- Cats
- Others
By Product Type-
- AI-based Training Device
- AI-based Smart Games & Toys
- AI-based Camera
- Smart Wearable Trackers
- Smart Feeders
- Smart Litter Robots
- Others
By Region-
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- South East Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of the Middle East and Africa
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