The global pet monitoring camera market size is anticipated to inflate owing to the increase in number of pet stores and them containing a varied range of different kinds of pet breeds from all across the globe, which in turn nurtures the growth of the market, observes Fortune Business Insights™, in its report, titled, “Pet Monitoring Camera Market, 2024-2032.”
According to our researchers, the growth is owing to the rising number of pet holders desiring to keep surveillance on their pets as they are away at work or running some other errands acts as a thrusting aspect for the improvement of the market. Additionally, owing to an upsurge in misconduct frequency globally, people demand to avert their pets and properties from being lifted and if it is stolen this camera has the facility to assist in capturing the robber's identity and track them down. As per a report by the FBI, in 2018 there were about 2,199.5 crimes per 100,000 residents of property offense in the United States.
Information Source: https://www.fortunebusinessinsights.com/pet-monitoring-camera-market-104420
Top Leading Company in the Pet Monitoring Camera Market:
- Hangzhou Hikvision Digital Technology Co.
- Guardzilla; Wagz, Inc, Vimtag Technology Co., Ltd.
- Motorola, Inc,
- Petcube, Inc,
- Anser Innovation LLC,
- Acer Inc.
Report Coverage
We have implemented an elite research technique that encompasses of information triangulation based on the prominent bottom-up and top-down methods. Our researchers have conducted detailed primary research as well as secondary research to confirm the projected size of the pet monitoring camera market. The data executed to portray the shares for numerous segments at the national, regional, and global levels is excavated from comprehensive interviews with several experts. Our experts have also mined material from sponsored databases, industry journals, SEC filings, and several other equivalent means.
Segmentation
Based on the product, the global pet monitoring camera market is categorized into a one-way video and two-way video.
On the basis of camera, the market is divided into normal camera and night vision.
By distribution channel, the market is bifurcated into online and offline.
In terms of region, the market is segregated into North America, Europe, Asia Pacific, South America, and Middle & East and Africa.
Drivers and Restraints
Increased Security Concerns of Pet Owners Set to Boost Product Demand
The modernization in pet monitoring service which arises with the capability to feed the pet plays an important role for the growth of the market. The increasing amount of young pet owners acts as another major factor that stimulates the growth of the market.
Millennial group being technically progressive therefore contain more readiness to accept novel innovations. Moreover, the invention that integrates a robot with pet monitoring camera which is assisting to communicate and play with their owner distantly too carries out a significant part in the development of the market. As per Independent UK, the global millennial population entails of 31.5% of 7.7 billion of the total global population.
However, owing to the progression of technology, there has been a rise in distress of cyber-attacks which is therefore acting as a confining aspect that is hindering the pet monitoring camera market growth.
Regional Insights
North America is expected to be the controlling region during the forecast period of 2021-2028. Influences that add to the growth of the market comprise of the obtainability of large number of pet owners in this region, capability to rapidly embrace novel technologies, rising worries regarding the health and protection of the pet, increasing number of pet stores and the fact that more people are willing to adopt pets for guarding their houses also is assisting in boosting more demand of the product.
Asia Pacific held the second-largest pet monitoring camera market shares and is estimated to display substantial growth in the market. The donating influences which thrust the growth of the market are owing to financial growth and there is a progression in urbanization which in turn helps to drive the surging import and export of pets.
Competitive Landscape
The key players are leading on the production of more advanced products that aids to ease the life of a pet owner as they are far away from their pets doing their job or running some errands. And these significant players not only emphasize on the capability to monitor pets but also put their judgements on manufacturing apparatuses that may permit operators to communicate with their pets.
Industry Development
January 2019: Petcube made an announcement about the promotion of Petcube Bites 2. This product is installed with 4-microphone display, broad angle lens with up to 180° full-room vision, and topmost class two-way auditory features.
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