Pet Monitoring Camera Market Research, Key Players, Analysis And Forecast 2025: Grand View Research Inc.

 

The global pet monitoring camera market size is expected to reach USD 250.1 million by 2025, according to a new report by Grand View Research, Inc. The market is projected to expand at a CAGR of 26.0% during the forecast period. Continuous surge in pet ownership among millennial population has been driving the growth. Furthermore, the rapid adoption of the latest technology among consumers is expected to increasing spending on advanced monitoring products for pets.

Covid 19's rapid development worldwide has led to serious implications for most suppliers of electronics and electrical products, in the form of supply chain disruptions. While the pandemic crisis has decreased the frequency of purchase of consumer appliances, the lead time for delivery of orders has also increased significantly. Limited availability of components, restricted labor supply, and other supply chain related costs are some of the major challenges that most industry players are focusing on at present. The end of the lockdown is expected to bring this industry significantly higher consumer traffic, most notably through the online channels, and the manufacturers will need to design their production plans and distribution networks in tandem with this changing business environment. Our team is diligently working towards accounting these factors in our report with the aim of providing you with the up-to-date, actionable market information and projections.

The one-way video functionality accounted for more than 85% of the market share in terms of revenue. Over the past few years, the consumers have been attracted to the innovative features of these products. Manufacturers have added features, including laser dot chase game, automatic treat dispenser, motion and sound detection, and built-in ringtone, to their monitoring devices. Furthermore, two-way voice communication has made these devices more interactive.

To Request Sample Copy of this report, click the link:

https://www.grandviewresearch.com/industry-analysis/pet-monitoring-camera-market/request/rs1

Key competitors in the pet monitoring camera market include Guardzilla; Wagz, Inc.; Tomofun (Furbo Dog Camera); Motorola, Inc.; Petcube, Inc.; Zmodo; Acer Inc. (Pawbo Inc.); Anser Innovation LLC (PetChatz); Hangzhou Hikvision Digital Technology Co., Ltd. (Ezviz Inc.); and Vimtag Technology Co., Ltd.

Online distribution channel is expected to witness a steady CAGR of over 28% from 2019 to 2025. Rising popularity of e-commerce among consumers due to the convenience of shopping is expected to boost the segment in near future. Major online retailers include Amazon; PetSmart Inc.; Walmart; Target Brands, Inc.; eBay Inc.; and Petco Animal Supplies, Inc.

Further key findings from the report suggest:

• Two-way video functionality product segment is expected to expand at the fastest CAGR due to the growing demand for visual interactive monitoring devices
• Asia Pacific is expected to witness the fastest CAGR of more than 27.2% from 2019 to 2025
• One-way video functionality segment held the largest market share of over 80% in 2018
• North America led the global pet monitoring camera market owing to the large number pet ownership and rising spending on pet monitoring devices in U.S.
• Online distribution channel is expected to register the fastest CAGR of over 28.1% from 2019 to 2025

Asia Pacific is expected to register the fastest CAGR of 27.2% from 2019 to 2025. Prominent markets of this region include China, Japan, Australia, and India. Over the past few years, increased number of pets in the aforementioned countries has been witnessed. For instance, According to the Japan Pet Food Association, the number of domestic cats has increased by 123,000 to more than 9 million from 2017 to 2018. Additionally, high number of millennial population in developing economies including China and India is expected to open new avenues over the next few years.

Taking care of companion animals is stressful for working population due to busy work schedule. As a result, the companion animals are at the risk of suffering from depression and loneliness when they stay at home alone. Monitoring cameras have been increasingly gaining popularity among consumers for keeping an eye on their pets at home. These products are mainly used for interacting, training, monitoring, treating, and entertaining pets.

Have a Query? Ask Our Expert:

https://www.grandviewresearch.com/inquiry/6364/ibb

Key manufacturers include Guardzilla; Wagz, Inc.; Tomofun (Furbo Dog Camera); Motorola, Inc.; Petcube, Inc.; Zmodo; Acer Inc. (Pawbo Inc.); Anser Innovation LLC (PetChatz); Hangzhou Hikvision Digital Technology Co., Ltd. (Ezviz Inc.); and Vimtag Technology Co., Ltd. Over the past few years, manufacturers have been collaborating with professional trainers and behaviorists to improve their products. For instance, in July 2018, Petcube collaborated with Cesar Millan, a dog trainer, to improve their product with the help of the knowledge about the relationship between pets and their owners. Manufacturers have been introducing technologically advanced and innovative products to cater to the larger consumer base and to gain a competitive advantage.

Grand View Research has segmented the global pet monitoring camera market on the basis of product, distribution channel:

Pet Monitoring Camera Product Outlook (Revenue, USD’000, 2015 - 2025)

·         One-way Video Functionality

·         Two-way Video Functionality

Pet Monitoring Camera Distribution Channel Outlook (Revenue, USD’000, 2015 - 2025)

·         Offline

·         Online

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information:www.grandviewresearch.com