At what pace is the pet tech market growing, and what is its estimated value?
The pet tech market size has grown rapidly in recent years. It will grow from $6.28 billion in 2024 to $7.53 billion in 2025 at a compound annual growth rate (CAGR) of 19.9%. The growth in the historic period can be attributed to increased pet ownership, rise of e-commerce in pet products, increased focus on pet health and wellness, urbanization and busy lifestyles, humanization of pets.
The pet tech market size is expected to see exponential growth in the next few years. It will grow to $15.74 billion in 2029 at a compound annual growth rate (CAGR) of 20.3%. The growth in the forecast period can be attributed to ai and machine learning integration, telehealth services for pets, expansion of smart pet home ecosystems, environmental and sustainability focus, customized nutrition solutions. Major trends in the forecast period include collaborations with pet industry experts, advancements in wearable technology, smart feeding solutions, pet identification and tracking, telehealth and remote veterinary services.
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What are the key forces behind the pet tech market’s growth in recent years?
The increasing adoption of pets is expected to propel the growth of the pet tech market going forward. Pet adoption refers to the process of transferring responsibility for a pet that was previously owned by another party. Pet tech products are used by pets owners to enhance the well-being, health, safety, and overall experience of both pets and their owners. For instance, in January 2023, according to the Petfood Industry, a US-based resource for professionals in the pet food and treat manufacturing industry, dog adoption numbers increased from 393,712 in 2021 to 398,477 in 2022, an increase of approximately 1.2% over the previous year. Furthermore, U.S. residents adopted approximately 2% more cats than in the previous year, rising to 539,015 in 2022. Therefore, the increase in the adoption of pets is driving the growth of the pet tech market.
What are the major segments of the pet tech market?
The pet tech market covered in this report is segmented –
1) By Type: Radio Frequency Identification (RFID), Global Positioning System (GPS), Sensors, Other Types
2) By Distribution Channel: Offline, Online
3) By Application: Identification And Tracking, Behavior Monitoring And Control, Facilitation, Safety And Security, Medical Diagnosis And Treatment
4) By End Use: Commercial, Household
Subsegments:
1) By Radio Frequency Identification (RFID): RFID Pet Tags, RFID Collars, RFID Microchips, RFID-Based Pet Identification Systems
2) By Global Positioning System (GPS): GPS Pet Trackers, GPS-enabled Pet Collars, GPS Pet Monitors For Activity And Location
3) By Sensors: Activity Sensors (Pet Fitness Trackers), Health Monitoring Sensors, Motion And Behavior Sensors, Environmental Sensors
4) By Other Types: Pet Cameras and Monitors, Smart Pet Feeders, Automatic Litter Boxes, Wearable Pet Devices
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Which companies dominate the pet tech market?
Major companies operating in the pet tech market report are Garmin Ltd., GoPro, Loc8tor Ltd., Nedap NV, Datamars, Tractive, Wag Inc., Invisible Fence, Scollar Inc., Avid Identification Systems Inc., DOGVACAY, PetPace LLC, Allflex Group, CleverPet, Petcube Inc., Konectera, Whistle Labs Inc., Furbo, iFetch LLC, Dogtra, IceRobotics, Fitbark, Link AKC, Pawscout Inc., Invoxia, Felcana, Actijoy Solution, Powbo Inc., All Home Robotics
What major trends will shape the pet tech market during the forecast period?
Major companies in the pet tech market are focused on developing advanced technology, such as Minitailz GPS technology, to enhance pet health monitoring and gain a competitive edge in the market. GPS technology refers to the use of signals from satellites for precise location tracking. For instance, in January 2024, Invoxia, a France-based consumer electronics company, launched Minitailz Smart Pet Tracker, an AI wearable for dogs and cats that functions as an all-in-one GPS tracker and wellness device. The device measures respiratory rate and heart vitals, detecting anomalies in pet behavior and differentiating activities such as walking, running, and eating. It also identifies atrial fibrillation in pets and offers detailed health reports through the accompanying app. The Minitailz includes a built-in SIM with GPS technology for activity tracking and locating lost pets, along with geofencing features including vital signs monitoring, atrial fibrillation detection, and a built-in SIM.
What are the key regional dynamics of the pet tech market, and which region leads in market share?
North America was the largest region in the pet tech market in 2024. The regions covered in the pet tech market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Pet Tech Market Report 2025 Offer?
The pet tech market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Pet tech refers to products and technologies designed to enhance the care, comfort, and well-being of pets, as well as the convenience of pet owners. These products incorporate innovative technologies and features to provide solutions for improving the health, well-being, and overall experience of pets.
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