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Pet Tech Market Size By Product (Pet Wearables, Smart Pet Crates & Beds, Smart Pet Doors, Smart Pet Feeders & Bowls, Smart Water Dispenser, Smart Pet Fence, Smart Pet Toys), Application, End Use, Distribution Channel & Forecast, 2023 - 2032
- Report ID: GMI4187
- Published Date: Feb 2023
- Report Format: PDF
industry Drivers
Pet Tech Market size valued at USD 5 billion in 2022 and is projected to record over 15% CAGR from 2023 to 2032.
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A growing trend of pet adoption across countries like the United States and Canada will stimulate the pet tech market growth. According to data from an American Pet Products Association (APPA) survey, between 2019-2020, around 39% of dogs were adopted from animal shelters as opposed to other acquisition methods. Numerous non-profit organizations are encouraging and supporting people to adopt pets.
Awareness regarding the importance of pet fitness and health will accelerate the demand for innovative pet monitoring devices. These smart devices help pet owners to get early detection of behavioral issues of pets. They also collect data continuously and send alters to owners to warn them regarding any health issues their pets might be facing. In February 2023, American drug company Zoetis announced the launch of AlphaTrak 3 blood glucose monitoring system for dogs and cats that suffer from diabetes.
| Report Coverage | Details |
|---|---|
| Base Year: | 2022 |
| Market Size in 2022: | USD 5 billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 15% |
| 2032 Value Projection: | USD 35 billion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 240 |
| Tables, Charts & Figures: | 380 |
| Segments covered: | Product, Application, End Use, Distribution channel and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Lack of public awareness in underdeveloped nations is likely to be a factor that could hinder the pet tech market demand. Challenges such as a high percentage of poverty and illiteracy along with the lack of basic IT infrastructure might influence the adoption and demand for pet smart device products. The unavailability of proper IT infrastructure across certain countries may impact the sales of smart pet wearables. Awareness programs about the advantages of pet wearables can help encourage product uptake in the coming years.
Trend of smart home technology to drive demand for smart pet doors
The pet tech market share from the smart pet doors segment is expected to account for over 10 million shipment units by 2032, owing to the growing popularity of smart homes and facial recognition technology. These types of smart doors can be remotely controlled using a smartphone and can also be opened by pets to enter the house as they are fitted with microchips or key fobs. The introduction of new smart doors fitted with advanced features would incite product uptake. For instance, in June 2022, Petvation introduced a new smart pet door that recognizes pets through facial recognition. It uses biometrics and access control technology to identify pets.
Concerns over pet safety to boost smart pet collar sales
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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.
Rising emphasis on pet healthcare to augment the industry growth
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.
Mounting efforts towards pet security to shape North America pet tech market development
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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.
New product launches by pet tech companies to influence the market forecast
Some of the leading companies involved in the pet tech market include Mars Incorporated, Garmin International, Inc., Nedap N.V., Wagz Inc., Afimilk, Xiaomi, Petcube Inc., Fitbark Inc., and Pawbo (Acer). Advancements in product design, configuration, and after-sales services are among the top priorities of for industry participants to increase their market share and scope.
As solution providers implement aggressive methods such as portfolio diversification, mergers and acquisitions, and geographic expansion for getting greater market visibility, the industry is slated to experience intense competition. For example, in May 2022, Whistle Lab Inc. unveiled Whistle Health, an AI-enabled, data-driven innovative device for preventive care of dogs.
Impact of the COVID-19 pandemic on the pet tech market
The COVID-19 pandemic had a positive impact on the pet smart devices market given to rising pet adoption rates across countries like U.S. Home isolation and loneliness urged people to purchase or adopt pets from shelters which subsequently fueled the demand for pet care products. Furthermore, rising sales of pet devices from e-commerce platforms and robust consumer spending on pet healthcare products would propel the market expansion.
This pet tech market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue in USD Million and Shipments in Thousand Units from 2018 to 2032 for the following segments:
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Market, By Product
- Pet wearable
- Smart collar
- Smart vest
- Smart harness
- Smart camera
- Smart pet crates & beds
- Smart pet doors
- Smart pet feeders & bowls
- Smart water dispenser
- Smart pet fence
- Smart pet toys
Market, By Application
- Pet healthcare
- Pet owner convenience
- Communication & entertainment
- Pet safety
Market, By End Use
- Household
- Commercial
Market, By Distribution Channel
- Physical pet store
- Online-only retailer
- Physical mass merchant store
The above information has been provided for the following regions and countries:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- Australia
- Southeast Asia
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
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