As per recent research from Fact.MR, the pet GPS tracker market is poised for a period of moderate growth spanning from 2021 to 2031. While the demand for pet GPS trackers is experiencing a gradual resurgence in the short term, the long-term outlook is notably optimistic. This buoyancy in the market can be attributed to the introduction of compact chip technology and advancements in the global telecommunications network, which are expected to drive the demand for pet GPS tracking devices throughout the forecast period. Projections indicate a robust compound annual growth rate (CAGR) of 22% for the Pet GPS Tracker market from 2021 to 2031. By the end of 2031, it is anticipated that Pet GPS Tracker sales will reach an impressive figure of US$ 3.6 Billion.
In a world driven by technology and connectivity, GPS trackers have emerged as essential tools for various applications. These versatile devices have found their place in multiple sectors, including transportation, logistics, personal safety, and even pet care. This article explores the GPS tracker market, with a specific focus on the rising demand for pet GPS trackers.
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Demand for Pet GPS Trackers
Pet ownership is a source of joy and companionship for countless individuals and families worldwide. However, it also comes with responsibilities, one of which is ensuring the safety and well-being of our furry friends. This is where pet GPS trackers enter the picture.
Pet GPS trackers are compact devices equipped with GPS technology, allowing pet owners to monitor the whereabouts of their pets in real time. These trackers can be attached to a pet’s collar or harness, providing an added layer of security and peace of mind for pet owners. The demand for pet GPS trackers has witnessed a significant uptick in recent years, and there are several reasons driving this trend.
Pet GPS Tracker Market Outlook
The outlook for the pet GPS tracker market is promising, and several factors contribute to its growth:
- Pet Safety: Pet owners are increasingly aware of the importance of pet safety. GPS trackers offer a means to locate a lost or runaway pet quickly, reducing the risk of accidents or harm to the animal.
- Urban Living: As more people move into urban environments, pets have less open space to roam freely. GPS trackers provide a safety net for pets in urban settings where they may encounter unfamiliar hazards.
- Peace of Mind: Pet owners often worry about their pets when they are not at home. GPS trackers offer peace of mind by allowing owners to check their pet’s location at any time, ensuring they are safe and sound.
- Training and Behavior: Some pet GPS trackers come with additional features like geofencing and activity monitoring. These tools aid in training and understanding a pet’s behavior, contributing to better pet-parent relationships.
- Multi-Pet Households: Families with multiple pets can find it challenging to keep track of all their furry companions. GPS trackers simplify the process of ensuring all pets are accounted for.
- Recent Industry Trends and Developments
The GPS tracker market, including pet GPS trackers, has witnessed several noteworthy trends and developments:
- Improved Battery Life: Advances in battery technology have resulted in longer-lasting GPS trackers, reducing the need for frequent recharging or battery replacements.
- Compact and Lightweight: Modern pet GPS trackers are compact and lightweight, making them comfortable for pets to wear while ensuring they don’t feel burdened by the device.
- Integration with Mobile Apps: Many pet GPS trackers now integrate with mobile apps, allowing pet owners to receive real-time location updates and alerts directly on their smartphones.
- Geofencing: Geofencing capabilities enable users to set virtual boundaries for their pets. When a pet crosses these boundaries, the tracker sends alerts to the owner, preventing potential escapes.
- Activity Monitoring: Some GPS trackers offer activity monitoring features, helping pet owners keep their pets healthy by tracking their exercise and activity levels.
- Affordability: The cost of pet GPS trackers has become more affordable, making them accessible to a broader range of pet owners.
- Durability: Manufacturers have focused on making GPS trackers more durable, and able to withstand various environmental conditions and the wear and tear that comes with an active pet.
Key Manufacturers and Suppliers of Pet GPS Tracker
Some of the leading manufacturers of device include
- Whistle GO
- Jiobits
- Fi
- Tractive
- Pawscout
- Wagtag
- Shenzhen Motto Electronics Co. Ltd.
- Jupin Group Co. Ltd.
- Dongguan ShuangXin Industry Co.,Ltd
- Kippy
- Weenect, Inc.
- Trackimo
- Yepzon
- Dynotag
- Pitpatpet Ltd.
- Trackimo.
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Key Segments
By Technology
- Cellular Pet GPS Tracker
- Mixed or Multi-tech GPS Pet Tracker
By Offerings
- Hardware Device
- Software and Associated Services
By Sales Channel
- Modern Trade
- Franchised Outlets
- Specialty Store
- Online Channel
By Region
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- EU5
- Nordics
- Benelux
- Eastern Europe
- Asia Pacific excluding Japan
- Australia and New Zealand (ANZ)
- Greater China
- India
- ASEAN
- Rest of Asia Pacific
- Japan
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
The GPS tracker market is a dynamic and evolving industry with applications ranging from personal safety to logistics and pet care. In the realm of pet ownership, the demand for GPS trackers has surged due to the growing awareness of pet safety and the desire to provide pets with the best care possible. As technology continues to advance and the pet GPS tracker market responds to the needs of pet owners, we can expect further innovations and enhancements that will continue to benefit both pets and their devoted owners.
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