1. What is the projected Compound Annual Growth Rate (CAGR) of the Pet Tech Market?
The projected CAGR is approximately 7.9%.
Pet Tech Market by Type (RFID, GPS, Sensors, Others), by Product (Monitoring Equipment, Tracking Equipment, Entertainment Equipment), by Application (Pet Safety, Pet Healthcare), by End Use (Household, Commercial), by Distribution Channel (Offline, Online), by North America (U.S., Canada, Mexico), by Europe (UK, Germany, France, Italy, Spain, Russia, Netherlands, Switzerland, Poland, Sweden, Belgium), by Asia Pacific (China, India, Japan, South Korea, Australia, Singapore, Malaysia, Indonesia, Thailand, Philippines, New Zealand), by Latin America (Brazil, Mexico, Argentina, Chile, Colombia, Peru), by MEA (UAE, Saudi Arabia, South Africa, Egypt, Turkey, Israel, Nigeria, Kenya) Forecast 2025-2033
The Pet Tech Market size was valued at USD 8.13 USD billion in 2023 and is projected to reach USD 13.84 USD billion by 2032, exhibiting a CAGR of 7.9 % during the forecast period. Pet Tech means technology that is aimed at supporting or improving the lives of pets. It includes a wide range of gadgets and applications like, smart collars, GPS trackers, automated feeders, and many more. They may include personal, health, activity, and remote communication features. For instance, smart collars assist in tracking the condition of the animal by tracking the vital signs and any form of strange movement as well as the automated feeders that enable the pet owner to set the feeding time and the amount of the food to be given remotely. GPS Trackers assist in the search of lost Pets and Interactive Toys assist in exercising the pet mentally and physically. It is worth mentioning that Pet Tech’s implementations aim at boosting everyday care and healthcare as well as safety and play or training sections.
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This report offers an in-depth analysis of the global pet tech market, providing a comprehensive overview of its current state and future trajectory. We delve into key aspects, including:
North America currently holds a dominant position in the global pet tech market, driven by high pet ownership rates, significant disposable income among pet owners, and early adoption of innovative technologies. Europe represents a substantial and maturing market, with a strong emphasis on pet health and welfare, fueling demand for advanced pet care solutions. The Asia-Pacific region exhibits strong growth potential, fueled by rising pet adoption rates, increasing disposable incomes, and a burgeoning middle class with a growing preference for premium pet products and services. This report provides detailed regional breakdowns, offering valuable insights into the unique characteristics of each market.
The pet tech industry is subject to various regulations related to data privacy, device safety, and animal welfare. These regulations vary by country and region.
A comprehensive patent analysis is included in the report, providing insights into the current and future trends in pet tech innovation.
The pet tech market is expected to continue growing at a steady pace in the coming years. Key factors driving the market include rising pet ownership, technological advancements, and increasing disposable income. The emergence of new technologies and the growing focus on pet health and welfare are expected to create new opportunities for market growth.
Aspects | Details |
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Study Period | 2019-2033 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2033 |
Historical Period | 2019-2024 |
Growth Rate | CAGR of 7.9% from 2019-2033 |
Segmentation |
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Note*: In applicable scenarios
Primary Research
Secondary Research
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
The projected CAGR is approximately 7.9%.
Key companies in the market include GoPro, FitBark Inc., Garmin International Inc., CleverPet Inc., Dogtra Co. Konectera Inc., Lo8tor Ltd, Mars Incorporated, Lupine Pet, Motorola Solutions Inc., Wagz Inc., Tractive GmbH, Smart Pet Love, Scollar Inc., Pod Tracker ANZ Pty Ltd, PetSmart Inc., PetPace LLC, PETKIT and Powbo Inc., among others..
The market segments include Type, Product, Application, End Use, Distribution Channel.
The market size is estimated to be USD 8.13 USD billion as of 2022.
Increasing Adoption of Cloud-based Managed Services to Drive Market Growth.
Growing Implementation of Touch-based and Voice-based Infotainment Systems to Increase Adoption of Intelligent Cars.
Adverse Health Effect May Hamper Market Growth.
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The market size is provided in terms of value, measured in USD billion.
Yes, the market keyword associated with the report is "Pet Tech Market," which aids in identifying and referencing the specific market segment covered.
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