GPS Dog Collar Market Forecast and CAGR
According to latest research by Fact.MR, GPS dog collar market is set to witness gradual growth during assessment period of 2021-2031. Demand for GPS dog collar will witness impactful recovery in short-term, with optimistic growth outlook in the long-run time span. It has been noticed that increased pet adoption and prospering pet humanization has been key driving factor for escalated demand of dog collars globally. Market is providing equivalent pace and constantly stimulated by heightened pet culture.
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What is Driving Demand for GPS Dog Collar?
Demand for dog collars has been witnessing a sudden surge over the past two decade with floating pet culture globally. Increased pet owners demand are deeply acknowledged by existing key players and constantly flourishing the global business potential with high-end GPS installed collars for dogs. With intervention of GPS technology in the dog collars, the pet collar industry is self-witnessing uplift in demand and simultaneously harnessing the combined potential of GPS based collars in business.
Gradually proliferating technological development and heightened deployment capital assets in R&D by key players have generated immense opportunities for GPS intervention in dog collar business. These smart E-collars are constantly unfolding innovation edge which is set to propel the global potential hence owing to widened application offerings.
Covid-19 Impact on Global GPS Dog Collar Market
Covid-19 has deeply affected the global economy with degradation of dog collar business profoundly. The pandemic disrupts the supply chain and destructed the equilibrium globally. Covid-19 has imposed nationwide lockdown owing to high infection rate which may have adverse health issues over the widely scattered consumer base.
Global trade and manufacturing industries positioned across the globe were muted resulting to pull off in the annual revenue bar significantly. This indeed has affected the GPS based dog collar business evidently and portrayed a negative impact on the overall potential growth.
During Covid-19 people had to stay at home due to strict lockdown and social-distancing measures prevailed by the government of different regions. Due to this dog collar business has witnessed shrinking in share for demand globally. Also, this supply chain gap further affected the revenue statistics of notable manufacturers operating in the market. Although, sales of dog collars resumed with strong backing potential with online e-commerce websites and third-party retailers.
Who are the Key Manufacturers of GPS Dog Collar Market?
Some of the leading manufacturer of dog collar are