Veterinary Wearable Electronics Market is Expected to Grow at a CAGR of 10.5% by 2019

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Posted By: Lucas Jones December 20, 2016

The report presents a global analysis of veterinary wearable electronics and devices market in terms of product types, animal segment and geography. Wearable technology for humans began with the introduction of heartbeat monitors and quickly progressed to light weight high-tech devices that can monitor multiple functions. Before the whole world could even own a wearable device, the technology was already committed to the monitoring of animals. GPS and VHF radio tracking collars were introduced more than a decade ago; however these devices were not accessible to pet owners for monitoring their whereabouts. Today GPS & Location trackers are available in the dozens for pets and animals alike. Some companies such as StickNFind are promoting their technology for locating anything on GPS including valuables. Most devices are unable to go uncharged for more than a couple of days or at the most a week. Disruptive battery technologies and miniaturization of telecommunication technologies will determine the usage of the devices. In a previous report on human wearable technologies, analysts also pointed out to another challenge that is big data. The Global Veterinary Wearable Electronics Market was valued at US$ 746.9 million in 2014 and expected to grow to US$ 1,261.1 million by 2019 at a CAGR of 10.5% from 2015 to 2019.

Market Drivers:

  • Rising adoption/purchase of pets and increasing expenditure on their health expected to drive growth.
  • Growing demand for equine health products.
  • Increasing demand for dairy and cattle products.

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Market Inhibitors:

  • Low awareness and cost constraints.
  • Lack of wireless framework in developing countries.

Products Covered In This Report:

  • Fitness & Activity Monitors
  • Vet GPS and Location Tracking Devices
  • Breeding and Heat Detection Devices
  • Others

Animal Segments Covered In This Report:

  • Pets & Companion Animals
  • Cattle
  • Equine
  • Wildlife

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Key Players Covered In This Report:

  • Dairymaster
  • DeLaval
  • FitBark
  • GEA Group Aktiengesellschaft
  • Hayrex