Pet Tech Market Technological Innovations and Future Opportunities 2025
Category: #technology  By Ronak Bora  Date: 2020-01-16
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Pet Tech Market Technological Innovations and Future Opportunities 2025

Global pet tech market is slated to amass lucrative proceeds in the upcoming years, on account of surging adoption of the artificial intelligence and Internet of Things technology inspired pet care solutions across the globe. The burgeoning desire of pet owners to simplify and automate an array of pet related tasks such as cleaning litter, medication, feeding, safety, communication, entertainment, and movement tracking has expanded the application landscape of pet technology. A number of companies operating in this industry are focusing on creating reliable, flexible, and sophisticated pet tech solutions to ease the life of pets and their owners.

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Surging consumer spending on pet care, majorly driven by rising disposable income, is yet another factor propelling pet tech market outlook. For instance, the median household disposable income in the United Kingdom was £29400 in the financial year ending 2019. High disposable income makes the UK a leading contributor to the European pet tech industry, with other prominent regional contributors being France, Germany, Spain, and Italy.

Household is a leading end use sector augmenting global pet tech market trends due to surging adoption of pets by households across the globe. According to estimates by the American Society for the Prevention of Cruelty to Animals (ASPCA), 85.8 million cats and 78 million dogs are owned in the United States. Furthermore, approximately 35% of all households in the United States have a cat as pet, and 44% households have a dog, making cats and dogs the most adopted animal species. Increasing concerns of the pet owners towards the safety, health, and security of pets is encouraging the development of household pet tech industry.

Pet tech, without a doubt, is an industry with substantial growth prospects as pet parents are constantly looking for smart gadgets that offer enhanced safety, accuracy, and convenience. In the digitally connected world, there has been a significant transition in the gadgets designed for pet safety; the industry is gaining traction with the launch of technologically advanced pet cameras, smart collars, smart harness, and smart vests.

To counter this problem, CleverPet Hub, which is world’s first gaming console for dogs, engages pets in an enticing gaming experience involving touch pads that illuminate and make sound as pet solves game levels with a treat administered every time the right answer is pressed. The smart pet products are anticipated to proliferate pet tech market, with North America market capturing over 55 percent of the industry share in 2018.

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Other factors that are slated to advance pet tech market forecast are surging disposable income in APAC nations, increasing number of pet technology start-ups, introduction of technically innovative products, and burgeoning awareness regarding smart pet products. Pet tech market is estimated to surpass the highly coveted US $20 billion mark by the year 2025. 

Some Points From Table Of Content: -

Chapter 5. Pet Tech Industry, By Application (Revenue & Shipments)

5.1. Key trends by application

5.2. Pet healthcare

5.2.1. Market estimates and forecast, 2015 – 2025

5.3. Pet owner convenience

5.3.1. Market estimates and forecast, 2015 – 2025

5.4. Communication & entertainment

5.4.1. Market estimates and forecast, 2015 – 2025

5.5. Pet safety

5.5.1. Market estimates and forecast, 2015 – 2025

Chapter 6. Pet Tech Industry, 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. 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

Browse Complete Table of Content @ http://decresearch.com/toc/detail/pet-tech-market

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About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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