The global demand for pet monitoring cameras is expected to exhibit a CAGR of 5.5% per year to USD 54.3 million in 2022, supported by the following:
In the near future, high prices of pet monitoring cameras may hinder the adoption rate. Many middle-income pet owners hesitate to install these cameras due to their high prices. The majority of the products require continuous cloud connectivity, which is an issue in several developing countries, including Indonesia, India, and Malaysia.
| Attribute | Details |
|---|---|
| Pet Monitoring Camera Market Estimated Size (2022) | USD 54.3 million |
| Projected Market Size (2032) | USD 93.5 million |
| Value-based CAGR (2022 to 2032) | 5.5% |
| Top players market share | ~1% to 5% |
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A multifunctional surveillance camera for pets is one of the latest technological innovations that are evidence of constant technological advancement. The purpose of these multifunctional surveillance cameras for pets is to alert their owners to their pets' requirements.
Petzilla, for example, has developed a pet treat cam called Petzi Treat Cam that performs multiple functions, such as registering pets quickly and interacting with them from a smartphone or tablet. Consumers can see their pets, talk to them, take pictures of them, and even treat them while they are out in the yard.
It is believed that the introduction of technologically improved products has contributed to the growth of the pet monitoring camera market in recent years. The introduction of battery-operated and portable pet monitors is one of the main factors that has contributed to its growth.
In recent years, the North American market has held the largest share of the pet food industry. In the USA alone, the number of pets has increased in comparison to other countries. In the USA, approximately 136 million people own pets, owing to the fact that a large percentage of the population is very fond of their pets.
This, coupled with increasing disposable incomes and increased spending on pet accessories, encourages more people to buy pet monitoring devices in order to keep an eye on their pets.
According to the research, one of the main reasons behind the growth of the North American pet monitoring cameras market is the continued rise in the number of millennial pet owners who are keen on utilizing technology to help take care of their pets while they are at work.
Additionally, an increase in adoption has been attributed to the technological advancement of pet monitoring cameras, which is another important factor. There have been many vendors in this region who have developed pet monitoring cameras, which are not only capable of monitoring pets, but also of feeding them when necessary, as well as entertaining them when needed.
Due to the increasing adoption and humanization of pets, particularly in Singapore, Thailand, Malaysia, and Indonesia, the Asian Pacific pet monitoring camera market is expected to grow substantially during the forecasted period. As a result of changing consumer behavior, pet wellness and health monitoring products are growing in popularity.
Further, growing disposable incomes and improved lifestyles are projected to provide significant growth prospects in India and China. Rapid urbanization has accelerated pet adoption in these countries.
Countries such as China, Japan, Australia, and India have increased their spending on pets. According to a recent study, in Australia, 76% of dogs and 92% of cats are kept as pets, indicating a high demand for surveillance cameras in this country.
The global demand for pet monitoring cameras is projected to grow at a CAGR of 5.5% during the forecast period (2022 to 2032). In terms of total market revenue, the pet monitoring camera market is likely to hold a significant share of the pet care sector.
Since 2017, pet surveillance cameras have mostly been used to watch and communicate with lonely at-home pets. However, with advancements in camera technology, the scope of pet monitoring cameras widened. They are being now used for training, treatment, and motion capture purposes.
Pet monitoring cameras enable owners to communicate with pets, monitor their motion, and train them. Growing concerns regarding the safety of pets along with increasing need for continuously monitoring action and movements of pets is expected to boost the sales of pet monitoring cameras during the forecast period.
Surge in Millennial Pet Owners to Boost Pet Monitoring Camera Sales
One of the primary factors driving sales in the pet monitoring camera market is the global proliferation of millennial pet owners who are eager to use technology to look after their pets while they are at work.
Similarly, rise in pet adoption and increasing knowledge of various pet monitoring options will continue to push the demand for pet monitoring cameras during the forecast period.
Rising Penetration of Advanced Technology to Support Growth of the Pet Monitoring Camera Market
Increasing smart technology integration in household electronic equipment is expected to be a trend during the projection period. Thanks to technologies such as Bluetooth and Wi-Fi connectivity, users can control pet surveillance cameras with smartphones and transmit instructions from anywhere within range of communication inside the house.
The advancement of technology in pet monitoring cameras is also a significant element contributing towards increasing their popularity. Many companies have developed pet monitoring cameras that can not only watch pets but also dispense food and entertain them by performing the function of lasers.
One of the key factors restraining growth of pet monitoring camera market is the high prices of pet monitoring cameras. Low-income consumers avoid purchasing pricey pet surveillance cameras due to a lack of infrastructure support.
Rapid Adoption of Advanced Technologies Push Demand for Pet Monitoring Cameras in the USA
The market for pet monitoring cameras has grown significantly in recent years, particularly in the USA due rising adoption of smart and advanced technologies, presence of a higher number of pet parents, and growing awareness and concern about pet safety and security in the country.
Furthermore, strong presence of industry heavyweights in the region aids market expansion.
Availability of Pet Monitoring Cameras at Affordable Rates Propelling Market Growth in China
As per FMI, the pet monitoring cameras market in China is predicted to expand at a robust CAGR of 6.5% between 2022 and 2032. This can be attributed to rising spending on pets and pet related products, rapid economic growth, and availability of advanced monitoring cameras on lower prices.
Similarly, shift in customer behaviour toward purchasing pet wellness and health monitoring solutions is increasing market value in China. Furthermore, increasing consumer lifestyles and rising purchasing power in China is expected to generate considerable market revenue possibilities throughout the projection period.
Surge in Pet Adoption Rates Spurring Demand for Pet Monitoring Cameras in the UK
Sales of pet monitoring cameras in the UK is expected to grow at a steady CAGR of 3.5% during the forecast period. This can be attributed to the rapid rise in pet population, presence of favourable pet insurance policies, and growing trend of pet humanization
Demand for One Way Video Functionality Pet Monitoring Cameras to Remain High
Currently, the one-way video feature category accounts for the biggest revenue share of the global pet monitoring camera market and is expected to continue its dominance over the projected period. This is due to features such as laser dot tracking games, treat vending machines, motion detection capabilities, built-in buzzers, picture capturing, and temperature monitoring.
Demand for Low Priced Pet Monitoring Cameras to Remain High Throughout the Forecast Period
Pet monitoring camera comes in three different price ranges which are low, medium, and premium. Although premium price range offers wide variety and multifunctional features, demand for low price range pet monitoring cameras is expected to grow at a higher CAGR during the forecast period.
Pet Monitoring Camera Sales to Remain High in Online Retailers Segment
As per FMI, online retailers segment is likely to contribute most to the global pet monitoring camera market through 2032, owing to the increasing desire for online shopping and rising penetration of internet and smartphones.
The global pet monitoring camera market is very competitive in nature due to the presence of multiple companies. To improve their revenue, leading pet monitoring camera manufacturers players are focused on releasing new products with advanced characteristics.
For instance,
Similarly, startups like Tomofun, an international pet technology startup founded in 2014 by Victor Chang are continuously introducing new products to expand their customer base.
| Attribute | Details |
|---|---|
| Estimated Market Size (2022) | USD 54.3 million |
| Projected Market Size (2032) | USD 93.5 million |
| Anticipated Growth Rate (2022-2032) | 5.5% |
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | USD Million for Value |
| Key Regions Covered | North America, Latin America, Europe, East Asia, South Asia, Oceania & MEA |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, UK, France, Spain, Italy, Russia, Benelux, South Africa, Northern Africa GCC Countries, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia & New Zealand. |
| Key Segments Covered | Product Type, Application, Price Range, Sales Channel, End User, and Region |
| Key Companies Profiled | Petcube; Acer Inc.; Amazon.com Inc.; Furbo; Hangzhou Hikvision Digital Technology Co. Ltd.; Lenevo Group Ltd.; PetChatz LLC; Vimtag Technology Co. LTD; Wagz Inc.; Zmodo; Pawbo; Motorola; Cleverdog |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The global pet monitoring market reached a valuation of USD 54.3 Million in 2022.
Growing popularity of multifunctional cameras and new product launches are some of the key trends boosting the market growth.
Leading players operating in the global pet monitoring camera market are Petcube, Acer Inc., Amazon.com Inc., Furbo, Hangzhou Hikvision Digital Technology Co. Ltd., Lenevo Group Ltd., PetChatz LLC, others.
The overall sales of pet monitoring cameras across the North America are projected to surge at a ~3% CAGR over the forecast period.
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Pet Monitoring Camera Market
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