Global Animals Fitness Tracker Market size (2023-2030)

The Global Animals Fitness Tracker Market size is estimated to grow from USD 4.30 Billion in 2022 to USD 6.07 Billion by 2030. The market is witnessing a healthy CAGR of 4.4% from 2023 to 2030. The increase in the adoption of pets and the Rising Popularity of wearable are the major factor driving the industry's growth.

Industry Overview:

An animal activity tracker is a system that is worn or carried by a pet to display its bodily activity. The units use sensors to track the animal's actions and transmit data wirelessly to a computer, cell phone, or another storage device. These statistics can be used to assist owners to apprehend how lots their pets are exercising and making changes to their animals' routines as needed.

As pet proprietors become extra concerned for their pets' health, the market for pet wearables is developing at an impressive rate. Pet care prices are additionally increasing due to rising adoption costs of pets as companions for intellectual balance and entertainment. Moreover, in mild of the growing popularity and accessibility of wearable devices, the world pet wearable market is anticipated to develop strongly during the forecast period.

Also, the demand for pet wearables is frequently driven by developments in wireless region networks, inexpensive and efficient wi-fi sensors, as well as the adoption of digital maps, and the improvement of cellular applications. The growing trend of the Internet of Things is another key issue estimated to force the market's growth. Last but not least, another major factor influencing the pet wearables enterprise would be the use of and demand for pet wearables endorsed by insurance plan companies. These factors are estimated to drive the market's growth during the forecast period 2023-2028.

COVID-19 impact on the Animals Fitness Tracker Market

COVID-19 is an infectious ailment caused by the novel coronavirus. Largely unknown before the outbreak started out in Wuhan (China) in December 2019, COVID-19 modified into an international pandemic in no time. The COVID-19 pandemic has expanded the burden on healthcare structures throughout the globe. Companies scaled up R&D efforts to advance vaccines and drugs in opposition to the virus. Vaccine-related research things to do in pharmaceutical and biotechnology companies, research centers, and tutorial lookup institutes are viewed as essential and generally unaffected operations and output. However, niche markets had been sidelined due to the center of attention on COVID treatment-related research.

The surprising outbreak of the COVID-19 pandemic has had an effective impact on the world animal health tracker market. With more and extra humans working remotely, normally at home, pet adoption has grown to be increasingly famous amongst pet lovers. The COVID-19 pandemic notably extended the adoption price of dogs. According to a CNBC 2020 article, animal rescues and adoptions spiked during the early days of the COVID-19 pandemic. The requirement for vaccinations, neutering programs, and universal veterinarian visits has, however, been considered a barrier to persevered pet adoption all through the pandemic.

According to a study posted in Humanities and Social Sciences Communications 2020, dog adoption prices increased substantially at some point during the COVID-19 pandemic. Moreover, as an end result of COVID-19, functions for adoptable puppies and foster households rose substantially. This is linked to the surging demand for animal-tracking wearables.

MARKET DRIVERS:

The increase in the adoption of pets and the Rising Popularity of wearable are driving the growth of the market

There is an increase in the number of adoption of pets which is increasing the demand for the market. The rise in the popularity of wearables is also driving the growth of the market. The animals are very active and they roam around a lot, so there must be something around their body that can track where they are going and their diet can be maintained accordingly.

MARKET RESTRAINTS:

The high cost and High battery consumption is restraining the growth of the market

The high cost of animal tracking is restraining the growth of the market during the forecast period. High battery consumption of the wearable is also restraining the growth of the market. Fitness trackers consume a lot of batteries and therefore it is not efficient to use them on animals which is restraining the growth of the market.

ANIMALS FITNESS TRACKER MARKET REPORT COVERAGE:

This research report on the global Animals Fitness Tracker Market has been segmented and sub-segmented based on Type, By sales channel, and region.

Global Animals Fitness Tracker Market   - By Type:

• GPS Pet Activity Tracker
• Wi-Fi Pet Activity Tracker
• Others.

Based on the Type, the GPS pet activity tracker is estimated to dominate the market during the forecast period 2023-2028. The GPS system allows regular tracking of animals through internet connectivity which is available everywhere. A GPS pet activity tracker is a machine that attaches to an animal's collar and records the animal's movements. It uses Global Positioning System (GPS) technology to track the animal's area and can supply statistics on speed, distance traveled, and time spent moving. Some GPS pet undertaking trackers also consist of features such as heart price monitoring, temperature readings, and calorie burn tracking.

A WiFi pet undertaking tracker is a gadget that attaches to an animal's collar and records the animal's movements. It uses wi-fi local area network (WLAN) technology to track the animal's place and can supply facts on speed, distance traveled, and time spent moving.

Global Animals Fitness Tracker Market   - By Sales Channel:

• Pet Shops
• Online
• Others.

By Application, the pet shop dominated the market during the forecast period 2023-2028. A pet shop is a retail commercial enterprise that sells animals and pet supplies. Pet shops normally sell a variety of animals, such as dogs, cats, birds, fish, reptiles, and small mammals. They may also provide animal boarding and grooming services, as well as pet adoptions. The online segment consists of sales through e-commerce websites or apps. This phase has been developing rapidly in current years due to the growing recognition of online shopping.

Global Animals Fitness Tracker Market - By Region:

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

Geographically, The North American place is predicted to account for the greatest market share in 2022. The growing pet population, developing trend of adoption amongst millennials, and growing awareness about fitness benefits related to ordinary exercise are some elements that force the increase of this market in the region.

Asia Pacific: The Asia Pacific place is anticipated to be the fastest-growing market for pet activity trackers all through the forecast period. This growth can be attributed to the developing trend of pet adoption, growing disposable income, and rising consciousness about fitness benefits related to normal exercise.

Middle East & Africa: The Middle East & Africa region is projected to develop at a moderate rate throughout the forecast period. Factors that are riding the boom of this market consist of growing awareness about fitness benefits related to the use of pet exercise trackers and rising disposable profits levels in nations like Saudi Arabia, UAE, etc.

Global Animals Fitness Tracker Market Share by Company

1. Avid Identification Systems, Inc.
2. SCR Engineers Ltd.
3. Fitbark
4. Datamars
5. Intervet International B.V.
6. Garmin Ltd.
7. Invisible Fence
8. Loc8tor Ltd.
9. Link My Pet
10. Pet Pace LLC

Mergers and acquisitions in the enterprise have enabled players to diversify and decorate their carrier services.

Recently, San Francisco-based animal tracking devices manufacturer introduced pet wearables Whistle Go & Whistle Go Explore which have the inherent ability to track animal location, activity, and health simultaneously.

Most of the key actors in the interactive dog toys market have maintained a modern product portfolio and provide rather exclusive products each online and offline. The manufacturers decide for straight natural market play through innovating new products over any different hybrid strategy to trip wider patron engagement and possess a competitive area over others. Increasing R&D funding by distinguished manufacturers to advance superior technology products is rising as a success thing to maintain in the competition. The market is filled with a number of players that are making efforts to increase the demand for their products in the market and therefore there are many product launches in the market.

NOTABLE HAPPENINGS IN THE GLOBAL ANIMAL FITNESS TRACKER MARKET IN THE RECENT PAST:

• Acquisition- In March 2022, Merck Animal Health Completes the Acquisition of Poultry Sense Limited.  Poultry Sense Ltd. is an innovator in health and environmental monitoring solutions for the poultry industry.