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Pet Tech Market trends are anticipated to depict a rapid transformation owing to the rising prevalence of pet e-commerce and advent of products with tech enabled services that lead to the pets’ enhanced wellbeing and security. Nowadays pet owners are looking for novel approaches to keep their pet happy and healthy which would further substantially influence pet tech market outlook over the forecast period.Rise in concern toward food & nutrition of pets is encouraging owners to adopt automatic pet feeders & bowls. It allows the owners to keep track of the eating pattern or habits of their pets to provide a healthy & nutritional diet. Some of the smart pet feeders available in the pet tech market include Wopet automatic pet feeder, Feed & Go smart pet feeder, and Petdiary automatic cat feeder. These smart solutions are allowing owners to control the portion size and meal serving remotely with the help of a smartphone application.
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Pet technology has become a rapidly emerging market remnant of electronic and connected solutions which help owners to train, monitor, feed, and play with their furry friends. According to studies, security and safety are considered as major concerns for the pet owners and most of them opine that technology will help resolve them efficiently. Pet tech manufacturers are looking to develop new products and advanced solutions for pets that will help attract a significant consumer pool comprising pet lovers. This would further enhance the growth of pet tech market share in the upcoming years.
Pet tech market is driven by increasing adoption of pet healthcare products owing to the rise in demand for modern solutions to track & analyze health conditions and fitness of animals is being witnessed. Manufacturers are offering innovative products to cater to these demands. For instance, Felcana is offering Felcana Serenity that combines audio & vision sensor technologies to detect and respond to pet stress & anxiety. It includes a pet webcam that aims to combat separation anxiety with the use of calming human voices, which can be controlled with the help of a smartphone application. Similarly, pet collars are being widely used to track the vital signs & activity of a pet. PetPace collar is integrated with non-invasive sensors that monitor several data including pulse rate, temperature, respiration, calories, and activity levels. Increasing demand for such innovative products will positively impact the pet tech market growth.
Pet tech market is impelled by increase in investments by pet owners on health, fitness, and safety of their pets is being witnessed. The players are catering to these demands of owners by developing smart solutions that allow the customers to remotely monitor the pet's activities and health parameters. For instance, Petcube is offering smart camera with voice control which provides extra monitoring & security of pets. Additionally, the increase in the number of household pets in the U.S. is also encouraging manufacturers to cater to their modern technologies. According to the American Pet Products Association (APPA), around 85 million U.S. families owned a pet (either a cat or a dog) during 2017-2018.
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The Europe pet tech market is predicted to grow rapidly with increased adoption of connected technologies to monitor the health status of pets. Countries including Germany, France, and the UK are the major markets due to the increase in the number of household pets. The owners are engaged in incorporating innovative solutions that will monitor the safety & health of their pets. Moreover, high spending capability coupled with the rise in disposable income of citizens is also a major factor encouraging the owners to purchase smart solutions for their pets.
Exemplary initiatives by the leading players will undoubtedly have a lasting impact on the growth prospects of this industry. Global Market Insights, Inc. estimates that pet tech market size will exceed the USD 20 billion mark by 2025.
Table Of Content For This Research Report:
Chapter 6. Pet Tech Market, By End-Use (Revenue & Shipments)
6.1. Key trends by end-use
6.2. Household
6.2.1. Market estimates and forecast, 2015 – 2025
6.3. Commercial
6.3.1. Market estimates and forecast, 2015 – 2025
Chapter 7. Pet Tech Market, By Distribution Channel (Revenue & Shipments)
7.1. Key trends by distribution channel
7.2. Physical pet store
7.2.1. Pet tech market estimates and forecast, 2015 – 2025
7.3. Online-only retailer
7.3.1. Market estimates and forecast, 2015 – 2025
7.4. Physical mass merchant store
7.4.1. Market estimates and forecast, 2015 – 2025
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Website: https://www.gminsights.com/pressrelease/pet-tech-market
Release ID: 88909830
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