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Pet Tech Market Analysis
- Report ID: GMI4187
- Published Date: Feb 2023
- Report Format: PDF
Pet Tech Market Analysis
The pet tech market from the smart collar segment accounted for USD 1 billion revenue in 2022. The growing demand for high-breed pets is resulting in the cases of pet trafficking, which has triggered the need for pet safety devices. Owners are buying safety products like smart collars that use GPS technology to keep a track of their pets even in their absence. In case of any emergency, the owners can use the monitoring features offered by some smart collars to take necessary action to ensure pet safety. In January 2023, a French consumer electronics company, Invoxia, launched a smart dog collar that is equipped with advanced heart rate tracking technology which is as perfect as a human electrocardiogram.
Pet smart devices market from the pet healthcare application segment is predicted to be over 25% share by 2032. Intensifying need of pet owners to monitor and track their pet’s health and activities will drive the market revenue. Many devices are now developed for tracking and monitoring pet health. For instance, in February 2023, tech company Linkface launched Dearbuds PE, a new digital healthcare device that manages the ear humidity levels of dogs or cats. As ear infections are very common in animals because of their L-shaped ear, the device is expected to reduce the difficulties and irritation that pets go through during such conditions.
North America pet tech market is estimated to surpass USD 20 billion by 2032, attributed to the expanding IoT device integration and increased awareness about pet security and wellness in countries like the U.S. and Canada. Partnerships between smart home firms and regional companies has driven the development of novel pet tech devices. For instance, in November 2022, Aqara introduced a voice-activated pet feeder that works with Google Assistant, Apple Siri, and Amazon Alexa.
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Pet Tech Market Scope
