Persistence Market Research
Taking care of a pet, especially along with long work schedule is mostly stressful and exhausting. They serve as companions as well as are also being used in old age homes as a therapy against depression and loneliness. Currently, approximately 68% of U.S. households embraces pet ownership, with around 84.6 million of pets including dogs, cats, fishes, horses, etc. Currently, global pet care market is estimated to be valued at more than $120 billion, and is further expected to grow at a considerable rate in the coming years. Within this pet care industry, pet monitoring is estimated to hold a considerate share in terms of overall market revenue. Since last few years, pet monitoring cameras have been increasingly used in monitoring lonely pets at home. Pet monitoring cameras are primarily used for communicating with pets, treating, monitoring, training, and also for motion capturing. Pet monitoring camera is an imperative solution to pet monitoring at homes. Some pet monitoring cameras feature night visioning as well, making the pet monitoring easier in lower light intensity.
Pet Monitoring Camera Market: Drivers and Challenges
Nowadays, more pet owners are installing pet monitoring cameras in their homes, so that they can easily communicate with them, as well as track them. Since last few years, the market for pet monitoring cameras has experienced considerate traction, especially in the developed countries. Pet monitoring cameras are being more adopted in regions such as North America and Europe. One of the major reasons behind growth in the pet monitoring cameras market is the continuous surge in the number of millennial pet owners throughout the world, who are keen on utilizing technology in taking care of their pets while they are at work. Increasing disposable income, and mounting awareness about various pet monitoring solutions, is also pushing the overall pet monitoring cameras market. Technology improvement in pet monitoring cameras is also an important factor, tending to the increase in adoption. Many vendors have come up with pet monitoring cameras, which not only monitor the pets, but can also feed and entertain them when required.
Most of the pet monitoring cameras are priced at a higher range, which restricts their adoption. Many pet owners with median incomes are reluctant to install pet monitoring cameras because of their higher prices. For real time monitoring, the pet monitoring cameras require continuous cloud connectivity, which is an issue in various developing countries. This somehow obstructs the growth in the adoption of pet monitoring cameras market. Security is also a concern in the minds of many pet owners, which is impacting the growth in the pet monitoring cameras market.
Pet Monitoring Camera Market: Segmentation
The Pet Monitoring Camera market can be segmented on the basis of application, end-user, and region.
On the basis of application the Pet Monitoring Camera market can be divided into;
On the basis of end-user, the Pet Monitoring Camera market can be segmented into;
Pet Monitoring Camera Market: Key Players
Some of the key players of Pet Monitoring Camera market are: Petcube, Furbo, Pawbo, Motorola, Vimtag, Cleverdog, Hive, Blink, Petzi, and Arlo, among others.
Vendors in the pet monitoring cameras market are partnering with professional behaviorists and trainers to enhance their products. For instance, in July 2018, Petcube partnered with Cesar Millan, a behaviorist, to improve the relationship between pets and their pets, utilizing its own technology platform.
Pet Monitoring Camera Market: Regional Overview
On the basis of geography, Pet Monitoring Camera market can be segmented across North America, Latin America, Western Europe, Eastern Europe, China, SEA and other APAC, Japan, and Middle East & Africa. Among various regions, North America Pet Monitoring Camera market is expected to be leading in terms of value with U.S. Pet Monitoring Camera market being the most attractive market. One of the major reason behind such a high market for pet monitoring cameras in North America is the overall number of pet owner households in the region. Developing countries such as China, India, Australia and others are expected to foresee increase in the adoption of pet care accessories in the coming years, which in turn will push the market for pet monitoring cameras in these countries as well.
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