Global Pet Monitoring Camera Market – Increased Adoption of Smartphones to Boost Growth| Technavio

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LONDON–()–The global pet monitoring camera market is expected to grow at a CAGR of more than 26% from 2017-2021, according to a new market research report by Technavio.

Global pet monitoring camera market segmentation by application and distribution channel

Technavio’s report on the global pet monitoring camera market analyses the business dimensions and presents a comprehensive breakdown in terms of market segmentation by application, which includes two-way visual interaction and pet security. As projected in 2016, over 63% of the market share originated from the two-way visual interaction segment. This segment includes multipurpose and smart monitoring devices through which owners can interact with pets, play with them, feed them treats and remain connected throughout the day. The increasing Internet penetration and rising smartphone adoption are fueling the growth of these devices.

Based on distribution channel, the global pet monitoring camera market has been segmented into offline and online. As of 2016, 83% of the market share came from the online segment. This is due to strong Internet connectivity in developed economies that allow vendors to practice omnichannel distribution.

“The online distribution channel constitutes pure-play e-retailers, online sales of physical store retailers, and direct-to-customer online sales. Wider Internet penetration and rising smartphone adoption along with increasing preference for online shopping are the major factors supporting the growth of the online segment during the forecast period,” says Shikha Kaushik, a lead analyst at Technavio for pet supplies research.

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Pet monitoring camera market: competitive vendor landscape

The global pet monitoring camera market is highly competitive due to the presence of many medium and small vendors. The major players operating in the market include Motorola, Logitech, Petzila, PetChatz, and Guardzilla. These players compete based on the features incorporated in their products and database management in cloud services. Constant product innovation and development are the key factors that will drive demand and support market growth during the forecast period.

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Other topics covered in the report:

Market drivers:

  • Rise in concern over the well-being of pets
  • Increased adoption of smartphones

Market challenges:

  • Reluctance of pet owners to buy high-priced products
  • Low adoption in developing countries

Market trends:

  • Introduction of technologically-enhanced products
  • Increased number of campaigns organized by vendors

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Maria Burns

Maria Burns

Maria is a Viral News Editor who graduated from the University Of California. She likes social media trends, being semi-healthy, Buffalo Wild Wings and vodka with lime. When she isn’t writing, Maria loves to travel. She last went to Thailand to play with elephants and is planning a trip to Bali.
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