Pet Tech Market Size By Product (Pet Wearables [Smart Collar, Smart Vest, Smart Harness, Smart Camera], Smart Pet Crates & Beds, Smart Pet Doors, Smart Pet Feeders & Bowls, Smart Pet Fence, Smart Pet Toys), By Application (Pet Healthcare, Pet Owner Convenience, Communication & Entertainment, Pet Safety), By End-Use (Household, Commercial), By Distribution Channel (Physical Pet Store, Online-Only Retailer, Physical Mass Merchant Store), COVID19 Impact Analysis, Regional Outlook, Growth Potential, Price Trend Analysis, Competitive Market Share & Forecast, 2021 – 2027

Published Date: May 2021  |  Report ID: GMI4187  |  Authors: Preeti Wadhwani, Saloni Gankar

Report Format: PDF   |   Pages: 300   |   Base Year: 2020

Summary Table of Contents Industry Coverage Methodology

Industry Trends

Pet Tech Market size accounted for over USD 5.5 billion in 2020 and is set to grow at 22% CAGR from 2021 to 2027. Increasing focus of pet owners on health, safety, and wellbeing of their pets is likely to fuel the industry growth.

Pet Tech Market

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The trend of pet humanization coupled with rising populations of small animals will drive the market revenue. Pet owners are considering their animals an integral part of their family and increasing spending on their health and wellbeing. Safety remains one of the top priorities of pet owners, as evidenced by the popularity of advanced pet tech products such as GPS trackers, smart doors, and smart collars. According to a study by Consumer Technology Association (CTA), 46% of pet owners use an app that provides health information directly to their vets, and 40% use pet tech for philanthropic purposes such as finding shelters for rescued animals after natural disasters.

The ongoing coronavirus (COVID-19) pandemic negatively impacted the pet tech market in 2020. The closure of manufacturing facilities caused supply chain disruptions for players operating in the market. Similarly, the imposed travel restrictions and lockdown declined the GDP growth of several economies, increasing unemployment rate. This caused a significant impact on consumers’ spending ability that declined sales of pet tech products in 2020. However, with improving economic conditions and relaxations on the lockdowns imposed, there will be a rise in the consumer spending, in turn, boosting the market growth.

Increasing adoption of pet wearable devices to improve the dog training process

U.S. Pet Tech Market Size, By Product

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The U.S. pet tech market is set to expand at 16% CAGR through 2027. Smart vest devices that are equipped with hidden video cameras and sensors are witnessing high adoption in the market, for enhancing pet training. In October 2019, North Carolina State University, IBM Corporation, and Guiding Eyes for the Blind, a school in the U.S. for training guide dogs, collaborated to improve guide dog training. Dogs-in-training are provided with smart vests to upload valuable data ranging from activity level to heart rate. Researchers use that data to determine whether training needs to be altered or continue. The technology detects patterns using machine learning and produces more accurate results as well as saves around USD 50,000 required to train a guide dog.

Demand for pet monitoring devices to track pet health and safety will accelerate the pet tech market revenue

The pet healthcare applications in the UK are projected to witness around 18% CAGR from 2021 to 2027 owing to the rising need to prevent pet obesity that increases the risk of chronic diseases such as diabetes and osteoarthritis. According to a survey conducted by the Pet Food Manufacturers Association (PFMA) in 2018, 74% of 277 veterinary professionals surveyed reported that obesity in pets has increased over the last five years. They reported that 51% of dogs and 44% of cats were overweight or obese. The rising prevalence of obesity is encouraging owners to invest in innovative pet tech devices for monitoring their health. Smart pet tech products enable owners to monitor activities, breathing and heart rate of pets.

Rising investments in pet entertainment products by owners

The household end-use segment in Japan will achieve more than 23% CAGR till 2027 with the increasing ownership of cats in small apartments. Dogs and cats are the most popular pets adopted by the Japanese population and in 2019, they had an ownership share of around 11% and 10%, respectively. Most of the Japanese that live in apartments with no garden space tend to invest in pet tech products for keeping their pets entertain and engaged. The prominent companies are introducing innovative technologies to keep pets entertained in absence of their owners.

Availability of discounts and offers is propelling the online-only retailer segment demand

The online-only retailer segment is poised to observe high growth in the pet tech market as increasing number of consumers are shifting toward online shopping. Online-only retailers perform better at keeping visitors engaged for longer time, attracting them and encouraging them to visit more pages per session. Desktop visitors spent 22% more time and visited 7% more pages on online-only retailers’ sites compared to multichannel stores’ sites. The online-only retailers also offer several discounts and offers, attracting pet owners to purchase pet tech products from these sites. For instance, BudgetPetCare offers 10% discount to customers on their first order and provides a money-back guarantee on all its products.

Rising adoption of pets among millennials and Gen Z in North America will offer strong market growth opportunities

North America Pet Tech Market Size, By Country

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The North America pet tech market  size accounted for above 55% of the global revenue share. Millennials and Gen Z tend to delay traditional life milestones, such as marriage and home-buying, encouraging them to adopt pets. In the U.S., around 62% of pets are adopted by younger generations while only 32% belong to baby boomers. The high purchasing power of millennials plays a significant role in the regional market growth. This has led to increased adoption of digitally connected and innovative pet tech products for enhancing the pets’ health & wellbeing.

Introducing advanced products forms a key trend among market players

Key players operating in the pet tech market include Fitbark Inc., Garmin International, Inc., CleverPet, Inc., Dogtra Co., Konectera, Inc., GoPro, Inc., Loc8tor Ltd., Lupine, Inc., Mars Incorporated, Motorola Solutions, Inc. (Binatone Global), Powbo, Inc., Petcube, Inc., PETKIT, PetPace, LLC, PetSmart, Inc., Pod Trackers ANZ Pty Ltd., Scollar, Inc., Smart Pet Love, Tractive GmbH and Wagz, Inc.

The players are developing innovative devices to attract consumers and remain competitive in the market. For instance, in June 2018, Xiaomi launched PetBit, a fitness tracker for pets that can track calories burnt, distance, and walking time of pets. The device features a battery life of 30 days and allows owners to access data on the PetBit app on their smartphones and share health information on the community to compare stats with pets of friends. In addition, these devices are being widely used for medical diagnosis & treatment and GPS tracking.

This market research report on pet tech includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipment in units from 2017 to 2027, for the following segments:

Market, By Product

  • Pet wearables
    • Smart collar
    • Smart vest
    • Smart harness
    • Smart camera
  • Smart pet crates & beds
  • Smart pet doors
  • Smart pet feeders & bowls
  • 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 is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
  • Latin America
    • Brazil
    • Mexico
  • MEA

Frequently Asked Questions (FAQ) :

The pet tech market value was over USD 5.5 billion in 2020 and will expand at a 22% CAGR up to 2027 driven by the rising emphasis of pet owners on the health, safety, and wellbeing of their companions.
The regional industry size from pet healthcare applications is expected to strike a CAGR of 18% through 2027 due to the incessant need to prevent pet obesity and chronic diseases in the U.K.
The pet tech industry revenue from the household end-use segment across Japan is anticipated to record a 23% CAGR up to 2027 with growing ownership of cats in small apartments in the country.
North America was responsible for more than 55% of the global pet tech industry share and will witness substantial growth owing to the high purchasing power of millennials in the region.

Premium Report Details

  • Published Date: May 2021
  • Pages: 300
  • Tables: 463
  • Charts / Figures: 37
  • Companies covered: 25
  • Countries covered: 12

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