The post Pet Monitoring Camera Market is Being Driven by the Rising Consumer Desire for Advanced Technology appeared first on Newstrail.com authored by Future Market Insights
The pet monitoring camera market is projected to be worth US$54.3 million by 2022. Market size is projected to increase by 5.5% CAGR to reach US$ 93.5 Mn by 2032
The growing consumer demand for cutting-edge technology to ensure the safety and well-being of pets is driving the market for pet monitoring cameras, and this trend will continue over the anticipated time frame.
The market has seen increased demand for pet monitoring cameras, a revolutionary technology with many uses. the market leader in the one-way video functionality segment.
However, due to changing consumer preferences for multifunctional cameras, the market for two-way video and audio functionality will continue to grow faster than the one-way video segment during the anticipated period.
These gadgets help owners engage visually with their dogs, feed them on schedule, get them to play, and captivate them.
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Several major, small, and medium-sized businesses throughout the world are rapidly investing in the IoT market. The transition of most organisations to IoT is projected to have an influence on a range of sectors, including pet monitoring cameras.
Key Takeaways from Pet Monitoring Camera Market Study:
- By product type, one-way video currently holds the largest revenue share over the assessment period
- The two-way video and audio functionality segment will grow at the fastest rate during the forecast period.
- Based on price range, demand for low priced pet monitoring cameras is likely to grow at a robust pace over the next 10 years.
- Currently, North America dominates the global pet monitoring camera market.
- Pet monitoring cameras market in China is expected to grow at a healthy CAGR of 6.5% during the forecast period.
- The U.K. pet monitoring camera market is anticipated to accelerate at 3.5% CAGR between 2022 and 2032.
“The pet monitoring camera market has gone through a significant transformation, from a functional product to a stylish one. Consumers prefer different varieties of a product category for different reasons. Manufacturers are therefore launching different cameras offerings to cater to this factor” says an FMI analyst.
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Who is leading?
The leading companies in pet monitoring camera are paving the way forward with strategic collaborations and development which are focused on innovating new technology. This has helped in bolstering the sales growth.
Some of the key players in the pet monitoring camera market include Petcube, Acer Inc., Amazon.com Inc., Furbo, Hangzhou Hikvision Digital Technology Co. Ltd., Lenevo Group Ltd., PetChatz LLC, Vimtag Technology Co. LTD, Wagz Inc., Zmodo, Pawbo, Motorola, Cleverdog and others
Pet Monitoring Camera Market by Category
By Product Type:
- One Way Video Functionality
- Two Way Video and Audio Functionality
By Application Type
- Communication
- Monitoring, Real-Time Bark Alert
- Treat-Dispersing
- Remote Training
- Video and Photo Capture
By End User Type:
- Pet Parents
- Veterinarians
- Professional Trainers
By Sales Channel Type:
- Online Retailers
- Hypermarket/Supermarkets
- Speciality Stores
- Multi-Brand Store
- Discount Stores
By Price Range:
- Low
- Medium
- Premium
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
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