Global Pet Monitoring Camera Market 2017-2021
About Pet Monitoring Camera
The global pet monitor camera market is majorly driven by the growth in the pet accessories market. Shifting consumer lifestyle, rising urbanization, increasing working population leading to rising necessity for monitoring pets from the workplace, improved IT infrastructure allowing best monitoring and interacting experiences, rising number of dual-income households are some of the factors contributing to the growth of pet monitor market across the globe. Moreover, increasing digital channel initiatives and social media promotions, and improved distribution channel, easy Internet access increase awareness and availability of pet monitoring devices through online vendors.
Technavio’s analysts forecast the global pet monitoring camera market to grow at a CAGR of 26.09% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global pet monitoring camera market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Pet Monitoring Camera Market 2017-2021
Technavio recognizes the following companies as the key players in the global pet monitoring camera market: Guardzilla, Motorola, Petzila, and PetChatz.
Other Prominent Vendors in the market are: Ezviz, Petcube, Furbo, Pawbo, Blink Home, Zmodo, and Vimtag.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is introduction of technologically-enhanced products. Technological advances in pet monitoring cameras are one of the major trends in the market. The most prominent technological innovation in this market is the introduction of multi-functional pet monitor cameras, which not only monitor pets and their actions, but also alert users on when their pets need to be fed, according to the preferred schedule of the owners.”
According to the report, one driver in the market is increased number of pet ownerships. Pet ownership across the globe is increasing rapidly. This rising adoption of pets is mainly fueled by the millennial population across the globe. This is due to the rise in per capita disposable income, growing awareness of the uses of pet accessories, and monitoring products. The sales of pet monitor and surveillance accessories such as trackers and cameras boost the market. This is because these devices allow pet owners a watch over their pets from remote locations. They also let them interact with their pets through these smart-connected devices.
Further, the report states that one challenge in the market is reluctance of pet owners to buy high-priced products. Keeping a proper monitor on pets for their safety and needs is the major concern among pet owners. The devices that have all these features are multi-featured pet monitor cameras, which are significantly costly. Apart from the cost of the device, there are other associated costs such as cloud connectivity devices and other installation charges, which add up to be extra operational costs for pet owners. Hence, these factors serve as challenges for the adoption of pet monitor cameras, especially in underdeveloped and developing countries. This is because the majority of the population in these countries come under the middle or low-income group.
Guardzilla, Motorola, Petzila, PetChatz, Ezviz, Petcube, Furbo, Pawbo, Blink Home, Zmodo, and Vimtag.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook