Pet Monitoring Camera Market Size, Share & Industry Analysis, By Product (One Way Video, Two Way Video), By Camera (Normal Camera, Night Vision Camera), By Distribution Channel ( Online, Offline) And Regional Forecast, 2024-2032

Nowadays, due to the growth of pet stores having different breed of pets from all over the world, there is an increase in demand of pets which in turn fosters the growth of the market. The factors which contribute to the growth of pet monitoring camera include monitoring activities, get in touch wirelessly, crime deterrent. Due to the growing number of pet owners wanting to monitor their pets while they are at work or doing some other activities act as a propelling factor for the development of the market since the majority of pet owners have a busy daily working schedule. Furthermore, the device giving the ability to get in touch with the pet through video and audio also boosts the demand of the product. Moreover, due to the increase in crime rate worldwide, people want to prevent their pets and goods from stolen and if it is stolen this device has the ability to help to capture the thief's identity which will help track down the thief. According to the FBI, in 2018 there were 2,199.5 offenses per 100,000 inhabitants of property crime in the United States.

Additionally, the innovation of pet monitoring which comes with the ability to feed the pet act as an immense opportunity for the growth of the market.

The rising number of millennial pet owners act as one of the driving factors for the growth of the market. This is due to

Millennial generation being technologically advance and have more willingness to embrace new innovation. Additionally, the innovation which is incorporating a robot with pet monitoring camera which is helping to interact and play with their owner remotely also plays an important role in the rise of the market. According to Independent UK, the global millennial population consists of 31.5 percent of 7.7 billion of the world’s population.

However, due to the advancement of technology, there is an increase in concern of cyber-attacks which is acting as a restraining factor that hampers the growth of the market.

Key Market Driver -

Increasing growth of millennial pet owners is one of the major driving factor for the growth of the market.

Key Market Restraint -

The growing concern of cyber-attack act as a restraining factor for the growth of the market.

Key Players Covered:

The major players included in the pet monitoring camera market include:

Hangzhou Hikvision Digital Technology Co., Guardzilla; Wagz, Inc, Vimtag Technology Co., Ltd., Motorola, Inc, Petcube, Inc, Anser Innovation LLC, Acer Inc., and others.

These players are directing on the manufacturing of more innovative products that helps to simplify the life of a pet owner while they are away from their pets. And these key players not only focus on the ability to monitor pets but also put their thoughts on manufacturing devices that could allow users to interact with their pets.

The global pet monitoring camera market segmented into by product, by camera, by distribution channel, and by geography.

On the basis of the product, the market is divided into a one-way video and two-way video. One-way video functionality is estimated to be the larger segment and this is due to the lower price but also giving the user a high definition live stream of their pet's activities.

Based on camera, the market is fragmented into normal camera and night vision. The normal camera is considered to be the greater shareholder due to consumers having lesser awareness of the importance of night vision cameras in monitoring their pets.

Depending on the distribution channel, the market is grouped into online and offline. The offline distribution channel is projected to be a large segment as it is an innovative product in which most consumers need to be educated by an expert on the functionality and the benefits of having the product.

Regional Analysis:

On the basis of region, the market is segmented into North America, Europe, Asia Pacific, South America, and Middle & East and Africa.

North America is anticipated to be the dominating region during the forecast period of 2019-2026. Factors which contribute to the growth of the market include the availability of large number of pet owners in this region, ability to quickly adopt new technologies, increasing concern of the pet health and safety, growing number of pet stores and more people wanting pets as their house guard also helps to propel more demand of the product. According to the National Pet Owners Survey 2019-2020, 66% of United States Households or 85 million families are estimated to own a pet in their homes.

The Asia Pacific is projected to show significant growth in the market and the contributing factors which propel the growth of the market are due to economic growth there is an evolution in urbanization which helps to propel more pets owner, the increasing import and export of pets, for instance, the increasing growth of the export of Siberian Husky from Russia to different countries, the booming of tech companies like Oppo, Samsung, Huawei, and others. According to Knoema, In 2019, the urban inhabitants of Japan was estimated to be 91.7% which is a rise from 71.9% in 1970.

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Segmentation

Key Industry Developments

• In January 2019, Petcube  announced the a launched of Petcube Bites 2. This product comes with 4-microphone array, wide angle lens with up to 180° full-room view, and top class two-way audio.


• In July 2017, Petbot declares that it is being acquire by San Fancisco based company called Petcube.This acquisition will result to deepen its knowledge of artificial intelligence and machine learning for the production of the upcoming  products.