Pet Wearable Market is Growing at a CAGR of 16.38% During 2016 to 2020

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Dec 13, 2016, 09:00 ET

PUNE, India, December 13, 2016 /PRNewswire/ --

The global pet wearable market analyst says the majority of the market revenue is contributed by SMEs in the pet wearable market. All these SMEs have been investing in R&D innovations to expand their product portfolio and offer competitive services. Investors are releasing million-dollar funds to enhance the business operations of these companies. The analysts forecast global pet wearable market to grow at a CAGR of 16.38% during the period 2016-2020.

Complete report on pet wearable market spread across 58 pages, analysing 4 major companies and providing 30 data exhibits now available at http://www.reportsnreports.com/reports/779245-global-pet-wearable-market-2016-2020.html.

According to the 2016 pet wearable market report, increasing disposable incomes and the admiration for pets have been boosting the pet wearable technology industry. Pet care has become one of the vital activities in many households in countries such as the US, Canada, the UK, and Australia.

The tracking segment dominated pet wearable market and will witness strong growth until the end of 2020. Pet wearables, such as tracking collars, with supported smartphone applications can be used to find out what the pet has been up to during the day. The high demand for such products can be attributed to benefits such as their ability to locate pets on-demand and track their activities at regular intervals. Furthermore, their ability to establish triggered smartphone notifications and maintain an accurate location history will lead to its increased adoption during the predicted period.

The RFID segment dominated pet wearable market and is anticipated to witness a slight decline in its market share by the end of 2020. The rising trend of adopting RFID tags for pet tracking purposes is a major factor leading to the growth of pet wearable market segment. Generally, 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.

The following companies are the key players in the global pet wearable market: FitBark, i4C Innovations, Whistle Labs, and PetPace. Other prominent vendors in the market are: Binatone Global, Cybortra, Garmin, KYON, Loc8tor, PawsCam, PawTrax, Pet Vu, Petcube, Petrek Australia, Pettorway, Pitpatpet, Pod Trackers, Trackimo, Tractive, Wondermento, and WTS - Wonder Technology Solutions. Order a copy of Global Pet Wearable Market 2016-2020 report @ http://www.reportsnreports.com/purchase.aspx?name=779245.

Global Pet Wearable Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the present scenario and the growth prospects of the global pet wearable market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of pet wearable devices such as GPS pet trackers and other pet related smart accessories, application and platform licensing fee, and communication service providers for offering continuous tracking and monitoring services.

Another related report is Global Mobile Pet Care Market 2016-2020, a key growth driver is the growing need for convenience. Mobile pet care services provide convenience to pet owners as they can save the time required to take their pets to the pet care facilities by opting for these services. Mobile pet care services also help clients with tight work schedules to take care of their pets' grooming and veterinary care needs. With an increase in the working population in countries such as the US, Australia, and the UK, the importance of mobile pet care services has increased further. Browse complete report @ http://www.reportsnreports.com/reports/714744-global-mobile-pet-care-market-2016-2020.html.

Explore other new reports on Semiconductor and Electronics Market @ http://www.reportsnreports.com/market-research/semiconductor-and-electronics/.

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