What Is The Definition Of The Global Smart Pet Locator And Motion Detector Market?
A smart pet locator and motion detector is a device designed to help pet owners keep track of their pets' whereabouts and monitor their movements. It typically combines GPS technology and motion sensors for real-time location tracking and activity monitoring. Smart pet locators and motion detectors offer peace of mind to pet owners by ensuring they can quickly locate their pets and monitor their health and activity, enhancing safety and well-being.
Smart Pet Locator And Motion Detector Global Market Report 2024 provides data on the global smart pet locator and motion detector market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The smart pet locator and motion detector market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Is The Global Smart Pet Locator And Motion Detector Market Size Expected To Expand, And At What Annual Growth Rate?
The smart pet locator and motion detector market has grown strongly in recent years. It is expected to grow from $92.25 billion in 2023 to $100.44 billion in 2024 at a CAGR of 8.9%. This growth is attributed to greater awareness of pet safety, an increase in lost pets, the rise of e-commerce platforms, increased urbanization, and more outdoor activities with pets. The market is expected to continue to see strong growth, reaching $143.40 billion by 2028 at a CAGR of 9.3%. This growth is driven by the increasing number of pet owners, greater awareness of pet safety, rising disposable incomes, the demand for real-time tracking, and greater attention to pet health. Major trends include advancements in technology, integration with smart home systems, AI-powered pet tracking, Bluetooth technology, and the rise of subscription-based services.
What Are The Key Drivers Fueling Growth In The Smart Pet Locator And Motion Detector Market?
The rise in pet ownership is also expected to propel the market for smart pet locators and motion detectors. Pet ownership, characterized by the responsibility of caring for a domesticated animal, has increased due to factors like improved living standards, urbanization, and heightened awareness of pets' health benefits. Smart pet locators and motion detectors enhance pet safety, monitor their activities, and provide peace of mind to owners. For instance, in June 2021, the American Pet Products Association reported that the percentage of Americans owning pets increased from 67% to 70%. As a result, the rise in pet ownership is boosting the smart pet locator and motion detector market.
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What Are The Principal Market Segments In The Global Smart Pet Locator And Motion Detector Industry?
The smart pet locator and motion detector market covered in this report is segmented –
1) By Type: With Display, Without Display
2) By Application: Training, Tracking, Monitoring
3) By sales Channels: Offline, Online
Which Emerging Market Trends Are Altering The Smart Pet Locator And Motion Detector Market?
In the smart pet locator and motion detector market, companies are focusing on developing AI wearables for pets to improve safety and monitoring. These wearables integrate AI technology with sensors to track pets' locations, monitor their health, and analyze their behavior. For example, in January 2024, Invoxia, a French electronics company, launched the Minitailz Smart Pet Tracker, an AI-powered wearable for pets. It tracks heart rate variability and provides insights into cardiovascular health while also offering GPS tracking to locate pets in real-time. The lightweight device is comfortable for continuous wear, enabling seamless monitoring of pets' well-being.
What Is The Leading Region In The Smart Pet Locator And Motion Detector Market?
North America was the largest region in the smart pet locator and motion detector in 2023. The regions covered in the smart pet locator and motion detector market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
