Central Europe Smart Pet Accessories Market Highlights Over 2019 - 2028
The Central Europe smart pet accessories market garnered a revenue of USD 4514.6 Thousand in 2019 and is further expected to reach USD 6708.1 Thousand by the end of 2028, by growing with a CAGR of 4.6% during the forecast period, i.e., 2020-2028. The growth of the market can be attributed to the rise in demand for remote monitoring of pets for enhanced pet safety, increasing need to understand pet behavior, growing adoption of pets, rise in expenditure for pet care, and for the increasing availability of pet tech startups. Moreover, growing advancements in the development of active health tracking, feeding and monitoring devices for pets, along with the increasing availability of luxury pet products and the demand for such products amongst millennials, are some of the other factors anticipated to drive the market growth.
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The adoption of pet in Europe has grown significantly over the years. According to the statistics by the European Pet Food Industry (FEDIAF), in the year 2020, the total number of cats, dogs, birds, small mammals, aquaria, and reptiles owned by pet owners in Europe registered to 110096139, 89826097, 51923027, 29783827, 15397244, and 9041070 numbers respectively. Moreover, the statistics also stated that 88 Million households, or 38% of all households in the region, owned at least one pet animal.
Backed by the growing adoption of pets in Europe, there is a rise in awareness for pet safety amongst individuals, which in turn is anticipated to drive the demand for pet accessories. Moreover, with the increasing working hours of individuals in the region, there is a rising need amongst pet owners to monitor their pets from their work places, which is driving the need for smart pet accessories. These accessories help pet owners to take proper care of their pets, especially when they are not present physically with their pets. Besides this, the accessories also help to analyze pet behavior and allows owners to understand their pets better. Pet accessories also help owners to monitor their pet’s health continuously. Such factors are anticipated help the market to grow significantly over the coming years.
Central Europe Smart Pet Accessories Market Regional Synopsis
The Central Europe smart pet accessories market is segmented on the basis of country into Austria, Czech Republic, Hungary, Poland, Romania, Russia, and Slovak Republic. Amongst these countries, the market in Poland is anticipated to hold the largest market share of 19.53% by the end of 2028 and further attain a market revenue of USD 1310.3 Thousand in the same year, up from a revenue of USD 817.6 Thousand in 2019. The growth of the market in the country can be attributed to the stringent regulation of the government of the country to implant microchips in pets so as to prevent homelessness of these pets. Moreover, presence of a strong pet population in the country, followed by the increasing urbanization, are some of the additional factors anticipated to drive the market growth. The market in the country is also anticipated to grow with the highest CAGR of 5.5% during the forecast period. On the other hand, the market in Russia is anticipated to hold the second largest share and further reach a market revenue of USD 1253.4 Thousand by the end of 2028.
Growth Drivers and Challenges Impacting the Growth of the Central Europe Smart Pet Accessories Market
Growth Drivers
- Increasing Need Amongst Pet Owners for Monitoring their Pets
- Rise in Availability of Luxury Pet Products
Challenges
- Lack of Awareness for Smart Products Amongst Several Individuals
- High Costs of Device as well as for its Maintenance
Central Europe Smart Pet Accessories Market Segmentation Synopsis
The Central Europe smart pet accessories market is segmented by product type into pet doors, pet feeders, tracking collars, tracing harness, pet housing, pet bedding, accessories, grooming products, training & behavior products, and others. Amongst these products, the pet doors segment is anticipated to hold the largest market share throughout the forecast period and further attain a market revenue of USD 1852 Thousand by the end of 2028. The segment is further divided into microchip flap, microchip door, and connected doors, out of which, the connected doors segment is projected to grow with the largest revenue of USD 867.4 Thousand by the end of 2028, up from USD 559.5 Thousand in 2019. Based on connectivity, the market is segmented into Bluetooth, Wi-Fi, cellular, and others, out of which, the Wi-Fi segment is projected to hold the largest market share and attain a revenue of USD 2273 Thousand by the end of 2028. Based on power source, the market is segmented into chargeable, and non-chargeable, out of which, the chargeable segment is anticipated to hold the largest market share and grow with the highest CAGR of 4.8% during the forecast period. Further, the market is segmented by pet into dog, cat, and others. Amongst these segments, the dog segment is anticipated to hold the largest market share during the forecast period. The segment is further expected to reach a market revenue of USD 4117.5 Thousand by the end of 2028 by growing from a revenue of USD 2733 Thousand in 2019.
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The market is further segmented by distribution channel into online, and offline, out of which, the online segment is projected to grow with the highest CAGR of 4.7% during the forecast period. Additionally, the market is also segmented by end user into residential, and commercial. Amongst these segments, the residential segment is anticipated to grow with the highest CAGR of 4.7% during the forecast period.
Top Featured Companies Dominating the Market
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the Central Europe smart pet accessories market that are included in our report are FitBark Inc., Tractive GmbH, PetPace, Ferplast S.p.A., Garmin Ltd., Tail it Technologies AS, Petwalk Solutions GmbH, SureFlap Ltd., Merck & Co., Inc., Doskocil Manufacturing Company, Inc. (Petmate), and others. The market also includes details of the players who manufacture pet microchips, and include, Virbac Group, Trovan Ltd., Avid Identification Systems, Inc., Micro ID Ltd, iDLogic, Doowa Technology Co., Ltd., and others.
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