NEW YORK, June 19, 2024 /PRNewswire/ — The global pet monitoring camera market size is estimated to grow by USD 950.7 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 23.3% during the forecast period. Increased number of pet ownerships is driving market growth, with a trend towards introduction of technology-enhanced products. However, reluctance of pet owners to buy high priced products poses a challenge. Key market players include Acer Inc., Amazon.com Inc., Arlo Technologies Inc., Centrica Hive Ltd., EZVIZ Inc., Furbo, Hangzhou Hikvision Digital Technology Co. Ltd., Lenovo Group Ltd., Neos Ventures Ltd., PetChatz LLC, Petcube Inc., PETKIT Ltd., Shenzhen Skymee Technology Co. Ltd, Vimtag, Wagz Inc., Wopet, Wyze Labs Inc., Xiaomi Communications Co. Ltd., and Zmodo Technology Corp. Ltd..
Technavio has announced its latest market research report titled Global pet monitoring camera market 2024-2028
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Forecast period |
2024-2028 |
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Base Year |
2023 |
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Historic Data |
2018 – 2022 |
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Segment Covered |
Product (One-way video and Two-way video), Distribution Channel (Offline and Online), and Geography (APAC, North America, Europe, South America, and Middle East and Africa) |
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Region Covered |
APAC, North America, Europe, South America, and Middle East and Africa |
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Key companies profiled |
Acer Inc., Amazon.com Inc., Arlo Technologies Inc., Centrica Hive Ltd., EZVIZ Inc., Furbo, Hangzhou Hikvision Digital Technology Co. Ltd., Lenovo Group Ltd., Neos Ventures Ltd., PetChatz LLC, Petcube Inc., PETKIT Ltd., Shenzhen Skymee Technology Co. Ltd, Vimtag, Wagz Inc., Wopet, Wyze Labs Inc., Xiaomi Communications Co. Ltd., and Zmodo Technology Corp. Ltd. |
Key Market Trends Fueling Growth
The pet monitoring camera market is experiencing significant growth due to the introduction of advanced, multi-functional devices. Companies like Petcube and Furbo are leading this trend with innovative features such as high-definition video, wide-angle views, night vision, and remote control. These cameras not only monitor pets but also alert owners when feeding is required. Additionally, portable, battery-operated devices like PetChatz HD offer interactive connectivity and motion/sound detection. Manufacturers’ high competency is driving product innovation and market expansion.
The Pet Monitoring Camera market is currently experiencing significant growth. Adoption of technology in pet care is on the rise, with trends such as remote monitoring and automation becoming increasingly popular. Cameras are used to keep an eye on pets when owners are away, providing peace of mind and ensuring pet safety. Companies are focusing on developing features like motion detection, night vision, and two-way audio to cater to consumer needs. The market is also witnessing the integration of AI and machine learning for advanced pet behavior analysis. The demand for pet monitoring cameras is expected to continue, driven by the growing number of pet owners and the desire for convenient and effective pet care solutions.
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Market Challenges
The pet monitoring camera market faces challenges due to the high cost of devices and additional operational expenses. Monthly internet charges, installation and maintenance fees for wired systems, and costs for added protection devices are significant. These factors limit market growth, particularly in underdeveloped and developing countries where the population primarily falls under the middle or low-income bracket.
The Pet Monitoring Camera market faces several challenges. Consumers seek devices with high-definition (HD) video quality and smart features like motion detection, night vision, and two-way audio. However, ensuring consistent connectivity and reliable performance in various environments can be difficult. Additionally, ensuring security and privacy of the data transmitted is a significant concern. Furthermore, the cost of advanced features and the need for regular updates can deter some potential buyers. Lastly, ensuring compatibility with various pet sizes and types requires extensive research and development efforts.
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Segment Overview
This pet monitoring camera market report extensively covers market segmentation by
Product
1.1 One-way video
1.2 Two-way video
Distribution Channel
2.1 Offline
2.2 Online
Geography
3.1 APAC
3.2 North America
3.3 Europe
3.4 South America
3.5 Middle East and Africa
1.1 One-way video- The pet monitoring camera market is experiencing significant growth due to the increasing adoption of these devices for securing and monitoring pets. Fueled by high Internet penetration and smartphone usage, these devices offer peace of mind to pet owners by alerting them to any unusual activity and even notifying authorities. With the rising importance of companion animals in people’s lives, the demand for pet healthcare solutions is increasing, driving market growth during the forecast period.
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Research Analysis
The Pet Monitoring Camera market has experienced significant growth in recent years, particularly among middle-income pet owners in urban areas. Millennial pet owners, who prioritize companionship, emotional support, and stress relief, have embraced technology to ensure the well-being of their cats and small dogs. Pet monitoring cameras, equipped with high-resolution sensors, night vision, and cloud connectivity, have become essential tools for these pet parents. Petzi Treat Cam and Petzilla are popular examples of pet accessories that offer remote treat dispensing and real-time monitoring. The aging population also contributes to the demand for these devices, as they provide peace of mind for seniors and family members. The pet care sector continues to innovate with advanced camera technology, enhancing the overall experience for both pets and their owners.
Market Research Overview
The Pet Monitoring Camera market is a rapidly growing segment in the security technology industry. These cameras enable pet owners to remotely monitor their pets in real-time, providing peace of mind and ensuring their pet’s safety and well-being. The market is driven by the increasing trend of pet ownership, the growing awareness of pet health and welfare, and the advancements in technology that allow for high-definition video and audio streaming. The cameras come with features such as motion detection, night vision, two-way audio, and cloud storage. They can be accessed through smartphones, tablets, or computers, making it convenient for pet owners to check on their pets from anywhere. The market is expected to continue its growth trajectory due to the increasing demand for advanced pet care solutions.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Product
One-way Video
Two-way Video
Distribution Channel
Offline
Online
Geography
APAC
North America
Europe
South America
Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
