Market Introduction and Definition
Pet cameras are used to take care of pets in owner’s absence virtually and to keep an eye on them. These pet care products available in the market come up with a speaker which makes both the pet and the owner forget about their absence. They are mostly used by business people who keeps on travelling and doesn’t often visit their homes and are unable to carry their pets to their work spaces.
Pet Cameras Market Forecast and CAGR
Over the period of 2016-2019, demand has bolstered at a nominal rate. Growth in household income has been observed across the developed regions which has enhanced the sales for the pet care products. This has cascaded the effect to the pet cameras demand over the same period.
COVID-19 has both positive and negative affects over the product sales.
Positive affect of COVID-19: In Mid-Q2 of FY2020 majority of the people got stuck in the foreign lands owing to the stringent lockdowns and safe bubble zones created by majority of the regional bodies. This forced the pet owners to take care of the pet virtually by getting pet cameras with voice assistance installed in their homes.
Negative affect of COVID-19:- Stringent lockdowns plummeted the sales of the products owing to the inability of the product trade across the regions. Moreover, people have shifted their allocation of market basket to essential items and reduced the spending over inessential items. This has provided a major domino effect to the demand of product.
All in all, pet camera providers has observed a surge in sales of the product over Q4 of FY2020. Demand normalization to the pre-COVID levels is anticipated to be observed by Q3 of FY2021.
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What is Driving Demand for Pet Cameras?
Developed economies with high per capita expenditure over pet care such as United States, Britain, France, Germany, Italy, Japan, Spain, South Korea and Singapore tend to create a hotspot for the pet care products and accessories market. Unlike South Asian countries with minute demand and spending over pet care, developed economies shell their dollars onto the pet care products owing to the extensive growth in disposable income coupled with stringent animal rights policies in the region. These factors tend to bolster the demand for the pet care products including pet cameras.
Macroeconomic outlook could be extensively pursued to comprehend the insights of the pet care cameras trade. Household spending and pet care industry over the regions are analyzed to comprehend the hotspots of the pet camera market. In-detail analysis has been performed in the pet camera report of Fact.MR.
Why Pet Owners Capture the Majority of the Demand Pie?
Majority of the cameras channeled in the market reach pet owners. Pet owners capture more than half of the pet cameras market. Analyzing the market from supply side also leads to the same side of the coin where pet owners are major consumers.
Therefore, new entrants in pet camera market should majorly focus on consumer centric products over institution centric product to gain absolute $ opportunity over long-run forecast period.
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United States and Canada Pet Cameras Market Outlook
United States has the largest per capita spending over pet care and according to Fact.MR per capita spending over pet care mounted to whooping US$ 122 in the year FY2019. This spending information explains that demand for the pet cameras is highly concentrated in the United States.
United States is poised to be the hub for the pet cameras sales. Over the long-run country is anticipated to strengthen at a higher single digit CAGR over the back of per capita spending on the products.
Canada is the second largest demand catering country in the Americas region and ranks under 15 over per capita pet care spending in the world in FY2020. Canada holds one-tenth of the North America product market in FY2020 and is anticipated to strengthen by gaining double digit BPS over long-run forecast period.
Why Few Pet Camera Channeled are Considered to be Un-Safe?
Unlike CCTVs, Pet cameras sold across the regions have lower security patches which hackers take benefit off and intrudes pet camera owner’s privacy. Therefore, majority of cameras for pets are considered to be unsafe. Majority of manufacturers have updated their security patches to gain the trust of the consumer and to enhance their sales. Therefore, the number of unsafe pet cameras are shrinking year on year.
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Who are the Key Manufacturers and Suppliers of Pet Cameras?
Some of the leading providers of pet cameras include
Pet camera providers have diversified product portfolio and a varied price range for the different income classes to choose from.
Majority of the manufacturers are positioned in United States, Britain, France, Germany and others.
Pet Cameras Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
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- Camera Robot
- Live video Cam
- Non HD
- Full HD
- Pet owners
- Professional Trainers
By Sales Channel
- Third-Party E-Commerce
- Pet Stores / Specialty Stores
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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