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#Announcement(General) [ via IoTGroup ]
et Wearable Market, based on the product segment, the smart vests product category is expected to register high demand amongst pet owners during the projected time period. Smart vests are outfitted with hidden sensors and video cameras, to make sure that the pet is secure. The technology is capable of live streaming videos when the dog starts barking.
This particular function has also led to the adoption of these devices in stray dogs for the purpose of safety and security. Citing an example, back in 2017, stray dogs in Thailand were equipped with smart vests to in order to safeguard the streets and the dogs by noticing unfriendly strangers and other such dangers.
The pet wearable market in application segment of identification & tracking is poised to observe a high demand in the coming years. The growth can be attributed to high number of incidents of lost pets, which has further led to the adoption of technologically advanced tracking devices. As per the Pet Found by Internet, approximately 2 million pets are stolen annually worldwide. The addition of RFID technology in pet wearables devices further leads to the identification of pets by way of inserting a microchip under the skin of the pets.
The commercial end-use segment in the pet wearable market is projected to fuel more demand for pet wearables owing to the development of modern farming. These devices are adopted for tracking as well as monitoring of livestock in order to identify heath related issues at an early stage.
The capability to monitor health further aids in animal training by enhancing the performance along with lowering the risks of the injury. Numerous manufacturers are developing devices so as to help the farm owners in tracking health measurements like heart rate, respiratory rate, temperature, and blood pressure.
Citing an example, Fitbit, Inc. launched EquiVi in April 2019, a wearable device designed for horses so as to deliver owners real-time vital sign metrics, which also includes cardiovascular health.
From a regional perspective, pet owners across Latin America are increasingly concentrating on the security and safety of the pets. This is further anticipated to drive the demand for these devices, particularly the ones that feature GPS tracking as well as live positioning functionality.
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Working BoT V3.199999999 Build 02 April 2020
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