Europe Pet Wearable Market size surpassed USD 600 million in 2019 and is expected to expand at a CAGR of 22% from 2020 to 2026.
The market revenue is proliferating due to rising consciousness regarding medical diagnosis of pets. The growing demand for accurately monitoring a pet’s health and well-being has resulted in increased adoption of innovative pet wearable devices by pet owners. Several companies have developed devices, allowing pet owners and veterinary professionals to prevent obesity in their pets. For instance, PetPace LLC offers smart collars for monitoring pets’ activity levels, temperature, pulse, respiration, and calories burned, and they also help in weight loss programs and prevent obesity using advanced sensors and smartphones. These devices facilitate the early detection of diseases and behavioral problems in pets by continuously collecting their vital signs to warn the owners at the first hint of an illness, stress, or other health-related problems.
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The European pet wearable industry experienced a substantial decline in revenue generation during the COVID-19 pandemic. Pet wearable manufacturers operating in Europe witnessed decline in their first and second revenue owing to the closure of manufacturing facilities of component suppliers. The leading component manufacturers operating in the region helped the government to flatten the pandemic curve. For instance, in April 2020, TE Connectivity, a Swiss-based manufacturer of connectivity and sensor products, produced ventilators and other critical medical supplies needed to prevent the spread of the virus. The pandemic has also triggered factory closures, travel halts, and confinements, resulting in major disruption in the supply chain and impacting the revenue of major companies operating in the market.
The GPS technology segment held a remarkable market share in 2019 on account of the widespread implementation in smart collars, smart harnesses, and smart vests. The growing demand for real-time positioning and safety & security coupled with the rising penetration of GPS-enabled smartphones that utilize innovative applications for acquiring the pets ongoing updates on smartphones is being witnessed. GPS-enabled wearable devices are helping pet owners to make sure their dogs or cats are both safe and healthy. Several fitness trackers have sharing options, wherein family and friends can be invited to access the pet’s activity profile, location history, and live location. For instance, with Tractive IKATI, pet sitters can monitor a pet’s daily routine.
Smart harness segment is estimated to witness significant growth rate during the forecast period. Smart harnesses help owners to keep their pets secure when the vehicle is moving and are designed to minimize driver distraction, help protect drivers, passengers, and dogs from injury in the event of sudden stops or crashes. It also makes a great walking harness for dogs. Moreover, the smart harnesses are helping dogs with hip dysplasia. The harness fits around the dog’s chest and stomach and wraps both back legs like a cast, thereby providing relief to the dogs.
Household users accounted for majority of the Europe pet wearable market share in 2019. In several households, wearable devices are being used to monitor the health conditions of dogs and cats. Pet owners are adopting smart cameras and collars to track & monitor their pet’s location, activity, and emotional state. These solutions are integrated with GPS trackers connected with smartphones, allowing owners to remotely update and analyze pets’ health. Manufacturers are introducing advanced wearable technologies for household pets. For instance, Loc8tor Ltd. is offering Tabcat tracker, which uses radiofrequency technology to track the location of cats within a range of 122 meters.
Some of the key industry players include Afimilk Ltd. (Silent Herdsman Limited), Dairymaster, Datamars, DeLaval International AB, DogTelligent, Inc, Equisense, Findster Technologies, Fitbark, Inc, Furtrieve LLC, Garmin Ltd, GEA Group AG, GoPro Inc., and IceRobotics, Ltd.