Global Market Size for Animal Fitness Trackers (2024-2030)

The estimated global market size for Animal Fitness Trackers is projected to increase from USD 4.49 Billion in 2023 to about USD 6.07 Billion by 2030. This growth reflects a steady Compound Annual Growth Rate (CAGR) of 4.4% from 2024 to 2030. Key drivers for this expansion include a rising trend in pet ownership and the increasing popularity of wearable devices within the industry.

Overview of the Animal Fitness Tracker Market:

An animal fitness tracker refers to a system that pets wear or carry to monitor their physical activities. These devices utilize sensors to track the movements of animals, transmitting data wirelessly to computers, cell phones, or other storage devices. Such data helps pet owners understand their pets' exercise routines better, enabling adjustments as necessary.

As pet owners show a growing concern for their pets' well-being, the market for pet wearables is experiencing significant growth. The costs associated with pet care are also rising, attributed to the increasing adoption of pets for companionship and emotional well-being. Furthermore, with the widespread availability and popularity of wearable technologies, the global market for pet wearables is expected to see substantial growth in the forecast period.

Additionally, the demand for pet wearables is being propelled by advancements in wireless networking, affordable and efficient wireless sensors, the adoption of digital mapping, and the development of mobile applications. The emerging trend of the Internet of Things (IoT) is another critical factor expected to drive market growth. Lastly, the endorsement and demand for pet wearables by insurance companies will also significantly contribute to market expansion during the forecast period of 2024-2028.

Impact of COVID-19 on the Animal Fitness Tracker Market:

COVID-19, an infectious disease caused by the novel coronavirus, emerged as a global pandemic following its outbreak in Wuhan, China, in December 2019. The pandemic has placed immense strain on healthcare systems worldwide. Companies have intensified research and development efforts to create vaccines and treatments for the virus, with research in these areas considered essential and generally unaffected.

The sudden onset of the COVID-19 pandemic has had a notable impact on the global animal health tracker market. With more people working remotely, often from home, there has been a notable increase in pet adoption among animal lovers. The pandemic notably boosted the adoption rates of dogs, as reported by a CNBC article in 2020. However, requirements such as vaccinations, spaying/neutering programs, and regular veterinary visits have posed challenges to continued pet adoption during the pandemic.

A study published in Humanities and Social Sciences Communications in 2020 highlighted a substantial increase in dog adoption rates during the COVID-19 pandemic. Additionally, there was a significant rise in applications for adoptable dogs and foster homes due to the surge in demand for animal-tracking wearables.

Market Drivers:

The primary drivers of market growth include the increasing adoption rates of pets and the growing popularity of wearable devices. This is due to the active nature of animals, necessitating tracking solutions for their activities and dietary management.

Market Restraints:

On the other hand, market growth is hindered by the high costs associated with animal tracking solutions during the forecast period. The considerable battery consumption of wearables also poses a challenge, as these devices require frequent battery changes, reducing efficiency when used on animals.

Global Animals Fitness Tracker Market - By Category:

• GPS Pet Activity Tracker
• Wi-Fi Pet Activity Tracker
• Others.

In terms of category, the GPS pet activity tracker is projected to lead the market from 2024 to 2028. The GPS system enables continuous animal tracking via ubiquitous internet connectivity. A GPS pet activity tracker is a device affixed to an animal's collar, recording the creature's movements. It utilizes Global Positioning System (GPS) technology to monitor the animal's location, providing data on speed, distance traveled, and duration of activity. Some GPS pet activity trackers also include features such as heart rate monitoring, temperature readings, and calorie expenditure tracking.

A Wi-Fi pet activity tracker is a device attached to an animal's collar, tracking its movements. It utilizes wireless local area network (WLAN) technology to monitor the animal's whereabouts, offering insights into speed, distance traveled, and duration of activity.

Global Animals Fitness Tracker Market - By Distribution Channel:

• Pet Shops
• Online
• Others

In terms of distribution, pet shops dominated the market during the forecast period from 2024 to 2028. Pet shops are retail establishments specializing in the sale of animals and pet supplies. Typically offering a variety of animals including dogs, cats, birds, fish, reptiles, and small mammals, they may also provide services such as animal boarding, grooming, and pet adoptions. The online segment encompasses sales through e-commerce platforms, experiencing significant growth in recent years due to the rising popularity of online shopping.

Global Animals Fitness Tracker Market - By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East
• Africa

Geographically, North America is anticipated to hold the largest market share in 2022. Factors driving this growth in the region include an expanding pet population, increasing adoption trends among millennials, and growing awareness of the health benefits associated with regular exercise for pets.
The Asia Pacific region is expected to witness the highest growth rate in the pet activity tracker market throughout the forecast period. This growth can be attributed to the rising trend of pet adoption, increasing disposable incomes, and a growing awareness of the health benefits of regular pet exercise.

The Middle East & Africa region is projected to experience moderate growth during the forecast period. Factors contributing to this growth include a rising awareness of the health advantages of using pet fitness trackers and increasing disposable incomes in countries such as Saudi Arabia and the UAE.

Global Animals Fitness Tracker Market Share by Company:

1. Avid Identification Systems, Inc.
2. SCR Engineers Ltd.
3. Fitbark
4. Datamars
5. Intervet International B.V.
6. Garmin Ltd.
7. Invisible Fence
8. Loc8tor Ltd.
9. Link My Pet
10. Pet Pace LLC

Mergers and acquisitions within the industry have enabled companies to diversify and enhance their service offerings.

Recent Developments:

San Francisco-based animal tracking devices manufacturer recently introduced the pet wearables Whistle Go & Whistle Go Explore. These devices possess the capability to simultaneously track the location, activity, and health of animals.

Most major players in the interactive dog toys market have maintained an updated product portfolio, offering a range of products both online and offline. Manufacturers are opting for a primarily organic market approach, innovating new products to increase customer engagement and maintain a competitive edge. The increasing research and development investments by leading manufacturers to develop advanced technological products are emerging as key factors for success in the market. The market is dynamic with numerous players striving to boost the demand for their products, resulting in frequent product launches.

Notable Events in the Global Animal Fitness Tracker Market:

In March 2022, Merck Animal Health completed the acquisition of Poultry Sense Limited. Poultry Sense Ltd. is known for its innovations in health and environmental monitoring solutions for the poultry industry.