Product launches and developments, partnerships, and collaborations have been the major strategies adopted by the leading players to grow in the market. Among all these strategies, players have focused on product launches and developments to remain competitive in the market. Key players that have implemented these strategies are 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).
Top 2 players in the pet wearable market:
Whistle Labs (US) is one of the prominent companies in the pet wearable market. It is pursuing a strategy focused on offering a comprehensive product portfolio to address pet wearable applications, such as location tracking, activity & rest monitoring, and also provides location alerts if pets leave custom safe places. The launch of Whistle 3, in January 2017, strengthened its product portfolio in the pet wearable market. To broaden its product portfolio, the company has adopted the acquisition strategy wherein it acquired Tagg in January 2015, with a purpose to build solutions to monitor a pet’s location, health, and activity level, which strengthens its position as a key provider or a leading player in the pet wearable market. Furthermore, the acquisition of Whistle Labs in March 2016, by Mars Petcare (US), the global leader in the pet industry, is another breakthrough, which is expected to contribute to the growth of this company in the pet wearable devices market.
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Tractive (Austria) is one of the global market leaders in GPS tracking for dogs and cats. The partnership with Monkfish (Germany) provides Tractive the leverage of the former’s marketing expertise. Their incredible marketing know-how and experience in scaling companies profitably in just a few years will be immensely helpful for Tractive in the coming years. With several exclusive product launches, including the one-of-its-kind GPS tracker for cats, introducing new and innovative products has been one of the key growth strategies for the company. The company has also partnered with a large number of global telecom providers to achieve worldwide coverage for its customers. These are expected to be a few of the key contributing factors toward the growth of the company during the forecast period.
Pet Wearable Market by Component (GPS Chips, RFID Chips, Sensors, Wi-Fi, Cellular, Bluetooth Chips, Processors, Memory, Displays, Batteries), Product (Smart Collars, Smart Cameras, Smart Harnesses), and Region - Global Forecast to 2024
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