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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

Pet Tech Market Size

Pet Tech Market size valued at USD 5 billion in 2022 and is projected to record over 15% CAGR from 2023 to 2032.

Pet Tech Market

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. 

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.

Pet Tech Market Analysis

Pet Tech Market Volume Share By Pet Wearable

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.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of pet tech surpassed USD 5 billion in 2022 and is set to witness over 15% CAGR from 2023 to 2032.

Pet smart devices market share from the smart pet doors segment is poised to exceed 10 million shipment units by 2032, attributed to the growing popularity and features of these products like facial recognition.

The market for pet tech in North America will reach USD 20 billion by 2032, owing to increasing awareness about pet security and wellness in the U.S. and Canada.

Major players involved in the market are Mars Incorporated, Garmin International, Inc., Afimilk, Xiaomi, Petcube Inc., Fitbark Inc., and Pawbo (Acer).

Pet Tech Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 24
  • Tables & Figures: 380
  • Countries covered: 17
  • Pages: 240
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