In 2022, the pet monitoring camera market is poised to reach a valuation of US$ 54.3 Million. Sales are projected to increase at a 5.5% CAGR, with the market size reaching US$ 93.5 Million by 2032.
In recent years, the North American pet food industry has dominated the market, holding the largest share. Particularly in the U.S., the pet population has seen a notable increase compared to other countries. With approximately 136 million people owning pets in the U.S. alone, there’s a clear affinity for pets among a significant portion of the population.
This trend is further fueled by rising disposable incomes and heightened expenditures on pet accessories, driving more individuals to invest in pet monitoring devices for keeping tabs on their beloved companions.
Research indicates that a key driver behind the growth of the North American pet monitoring cameras market is the increasing number of millennial pet owners. These individuals, eager to leverage technology to care for their pets, are fueling demand for monitoring solutions, particularly as they navigate work obligations.
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Several major, small, and medium-sized businesses throughout the world are rapidly investing in the IoT market. The transition of most organisations to IoT is projected to have an influence on a range of sectors, including pet monitoring cameras.
Key Takeaways from Pet Monitoring Camera Market Study:
- By product type, one-way video currently holds the largest revenue share over the assessment period
- The two-way video and audio functionality segment will grow at the fastest rate during the forecast period.
- Based on price range, demand for low priced pet monitoring cameras is likely to grow at a robust pace over the next 10 years.
- Currently, North America dominates the global pet monitoring camera market.
- Pet monitoring cameras market in China is expected to grow at a healthy CAGR of 6.5% during the forecast period.
- The U.K. pet monitoring camera market is anticipated to accelerate at 3.5% CAGR between 2022 and 2032.
“The pet monitoring camera market has gone through a significant transformation, from a functional product to a stylish one. Consumers prefer different varieties of a product category for different reasons. Manufacturers are therefore launching different cameras offerings to cater to this factor” says an FMI analyst.
Who is leading?
The leading companies in pet monitoring camera are paving the way forward with strategic collaborations and development which are focused on innovating new technology. This has helped in bolstering the sales growth.
Some of the key players in the pet monitoring camera market include
- Petcube
- Acer Inc.
- Amazon.com Inc.
- Furbo
- Hangzhou Hikvision Digital Technology Co. Ltd.
- Lenevo Group Ltd.
- PetChatz LLC
- Vimtag Technology Co. LTD
- Wagz Inc.
- Zmodo
- Pawbo
- Motorola
- Cleverdog
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Pet Monitoring Camera Market by Category
By Product Type:
- One Way Video Functionality
- Two Way Video and Audio Functionality
By Application Type
- Communication
- Monitoring, Real-Time Bark Alert
- Treat-Dispersing
- Remote Training
- Video and Photo Capture
By End User Type:
- Pet Parents
- Veterinarians
- Professional Trainers
By Sales Channel Type:
- Online Retailers
- Hypermarket/Supermarkets
- Speciality Stores
- Multi-Brand Store
- Discount Stores
By Price Range:
- Low
- Medium
- Premium
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
Author
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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