The global pet wearable market is expected to reach USD 2.36 billion by 2022, according to a new report by Grand View Research, Inc. Growing pet ownership coupled with increasing per capita expenditure on pets is expected to drive product demand over the forecast period. Over the next seven years, linkage of pet wearable with IoT & other mobile devices along with increasing dominance of certain vendors would challenge industry penetration of new entrants. Increasing awareness towards pet health & fitness is expected to offer significant opportunities for the development of advanced wearable products. The industry is characterized by extensive R&D investment in order to obtain competitive advantage which is also expected to result in frequent acquisitions and strategic alliances.
http://www.grandviewresearch.com/industry-analysis/pet-wearable-market
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