The Middle East and Africa smart-connected pet collar market is expected to showcase a CAGR of 18.51% from 2024 to 2029 and be worth USD 106.9 million by 2029 from USD 45.77 million in 2024.
Growing adoption of a pet, rising consumer awareness, and willingness to pay for advanced technologies are propelling the growth of the Smart Connected Pet Collar market revenue rate during the forecast period. Increasing investments by the major key players of the market in research and development are ascribed to propel the demand of the Smart Connected Pet Collar market in the Middle East and Africa region.
Growing demand from working individuals for pet monitoring and the increase in the expenditure on pet products across the region is accelerating the smart-connected pet collar market during the forecast period. The rise in cases of pets getting lost, continuous monitoring and tracking of a pet's health, and ease of convenience for using smart collars are likely to fuel the growth rate of the smart connected collar market during the forecast period.
An increase in allergies of pets and high initial cost due to the integration of smart components for tracking pets are impeding the demand of the Middle East and Africa Smart Connected Pet Collar market.
Impact of COVID-19 on the Middle East and Africa smart connected pet collar market:
The COVID-19 pandemic has disrupted the shares of the smart-connected pet collar market. In the first half of 2020, due to lockdown restrictions, the supply chain and manufacturing units were halted which declined the growth rate of the market. The rapid spread of the novel coronavirus and high focus on curbing the spread eventually decreased the smart-connected pet collar market shares in the Middle East and Africa. During the forecast period, the MEA market is expected to grow at a healthy CAGR.
This research report on the Middle East and Africa smart connected pet collar market is segmented and sub-segmented into the following categories.
MEA Smart Connected Pet Collar Market – By Sales Channel:
The online distribution channel segment holds the major share of the market. These offer greater advantages over points of sale such as a hassle-free shopping experience, varied options, and countless offers. Furthermore, the offline distribution channel segment is expected to increase the market rate during the forecast period.
MEA Smart Connected Pet Collar Market – By Pet Type:
Among these segments, the dog segment holds the major share of the market owing to the increased popularity of smart connected products. However, the cat segment is expected to increase the market rate during the forecast period.
MEA Smart Connected Pet Collar Market – By Country:
In the Middle East and Africa region, Brazil holds the major share of the market owing to the rise in the number of cases of pets getting lost is expected to grow further during the forecast period. Increasing the number of investments by the major key players of the market in research and development, growing demand from working individuals for pet monitoring, increase in the expenditure on pet products, and growing adoption of pets are promoting the demand of the market. Furthermore, the rising consumer awareness and willingness to pay for advanced technologies are driving the growth of the smart connected pet collar market in the Middle East and Africa region. The Middle East and Africa region are expected to increase the market during the forecast period.
KEY MARKET PLAYERS:
Some of the key market players in the Middle East and Africa smart connected pet collar market include Wagz, Inc., KYON, Whistle Labs Inc., Fi PetPace, Eureka Technology Partners, FitBark, Radio Systems Corporation, Tractive LLC and Scollar.
RECENT HAPPENINGS IN THE MARKET:
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