The Latin American Pet Wearables Market is anticipated to grow significantly by 2026. The growth of the target market in this region is attributed to the rising concern of people about the health of their pets, rising the people inclination towards the adoption of pets as their companions for mental stability and rising trend of humanization are some of the key drivers that are propelling the growth of the pet wearable markets in Latin America region. Most of the surveys that are done in this region by various BlueCross societies such as PETS international, dogs are the most preferred pets in the Latin America region, which is making the manufacturers of pet wearables in this region develop their products in the way that are most beneficial to dogs.
PetPace and ASPCA insurance are partnered to promote the smart collar to customers and veterinarians by the usage of them getting covered by pet health insurance in certain cases.
Garmin is expanding its portfolio in GPS navigation Portfolio by rolling out an all-terrain GPS motorcycle navigator, Zumo XT, to strengthen its navigation offerings.
The key drivers that are driving the pet wearables market in Latin America are like an increase in the concerns of people about their pet's health, a growing trend that adopting the pets as their companions for their mental stability and rising humanization in the countries like Mexico.
Also, the strong humanization trends coupled with the changing lifestyle and the concern regarding monitoring pet’s health are the other major factors that are estimated to boost the growth of the target market in this region during the forecast period.
By Product Type: Smart Collar, Smart Camera, Smart Harness & Vest, and Tags.
By Technology Outlook: GPS, RFID, and Sensors. Among all these technologies, the GPS segment was dominating the market share in this region followed by RFID owing to the reference of the people in Latin America.
By Application: Identification & Tracking, Monitoring & Control, Medical Diagnosis & Treatment, and Facilitation, Safety, & Security.
By Region: Brazil, Mexico, Argentina, Chile & the Rest of LATAM. In the regional analysis of the Latin America Pet Wearables Market, Mexico and Brazil countries is the leading major share of the market in terms of revenue. By default, Mexico is among the top 10 countries with the highest rate of pet adoption globally which is creating great opportunities for the growth of the demand for the pet wearables in this country. And Brazil and Chile are following Mexico in the market growth. Chile alone has the adoption rate of more than 54% of the household owning a dog.
The Key Players of the Latin America Pet Wearables Market includes Whistle Labs (US), PetPace (US), Garmin (US), FitBark (US), Tractive (Austria), Link AKC (US), Motorola (US), Num’Axes /EYENIMAL (France), KYON (Greece), Scollar (US), GoPro (US), and Felcana (UK) and among others.
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