PET TECH MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

The global pet tech market is witnessing substantial growth driven by rising humanization of pets and growing need for seamless monitoring and care of pets. Pet owners increasingly consider their pets as companions and family members rather than just animals, which has fueled demand for technologically advanced products and solutions that help track movement, monitor health, provide entertainment, and ensure safety of pets. Furthermore, rising disposable incomes and growing urbanization have encouraged investment in smart solutions to take better care of pets. However, limited awareness about latest technologies and high costs of premium products could hamper the market growth.

Market Dynamics:

The global pet tech market is expected to grow at a steady pace over the forecast period. Key drivers of market growth include rising humanization of pets which has increased focus on pet welfare, growing popularity of pet tracking and monitoring devices, and increasing availability of low-cost wearables. However, high costs associated with premium pet tech products remain a key challenge, especially in price-sensitive developing markets. Opportunities for market expansion lie in development of affordable solutions, multi-feature devices and integration of VR/AR technologies for pet entertainment and training. Rising elder pet population also provides scope for health-monitoring applications.

Key features of the study:

• This report provides in-depth analysis of the global pet tech market and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook and competitive strategies adopted by key players
• It profiles key players in the global pet tech market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include Afimilk, Animo, Blue Buffalo, Chewy, CleverPet, Dogtra, DOGVACAY, FitBark, Garmin International, GoPro, Hill's Pet Nutrition, iFetch LLC, IceRobotics, Mars Petcare, Nestle Purina Petcare
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion and marketing tactics
• The global pet tech market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global pet tech market.

Detailed Segmentation:

• By Product
  • Tracking Equipment
  • Monitoring Equipment
  • Entertainment Equipment
  • Feeding Equipment
  • Others
• By Application
  • Pet Healthcare
  • Pet Owner Convenience
  • Communication and Entertainment
  • Pet Safety
•  By End User
  • Household
  • Commercial
• By Regional
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa 
• Key Players Insights
  • Afimilk
  • Animo
  • Blue Buffalo
  • Chewy
  • CleverPet
  • Dogtra
  • DOGVACAY
  • FitBark
  • Garmin International
  • GoPro
  • Hill's Pet Nutrition
  • iFetch LLC
  • IceRobotics
  • Mars Petcare
  • Nestle Purina Petcare