Pet Tech Market Growth, Trends, Size, Share, Scope, Revenue, Challenges and Future Competition
Pet Tech Market Size- By Type, By Product, By Application, By End Use, By Distribution Channel- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: May-2023 | Report ID: IACT23104 | Pages: 1 - 234 | Formats*: |
| Category : Information & Communications Technology | |||
Pet Tech Market Introduction and Overview
According to SPER Market Research, the Global Pet Tech Market is estimated to reach USD 121.53 billion by 2033 with a CAGR of 24.94%.
The report includes an in-depth analysis of the Global Pet Tech Market, including market size and trends, product mix, distribution channels, and supplier analysis. Pet technology includes a wide range of products and services that target many aspects of pet care, health, entertainment, and communication. These advancements aim to strengthen the bond between people and animals while also bringing convenience and peace of mind to pet owners. From smart feeding systems and GPS trackers to interactive toys and health monitoring equipment, pet technology is altering the way we care for and interact with our pets. Pet technology has also evolved tremendously in the areas of communication and tracking.
- Rising Pet Ownership and Humanization: People all across the world regard their pets to be vital parts of their family. This trend of pet humanization has increased demand for products and services that improve the well-being, health, and overall quality of life of pets. Pet owners are more likely to invest in technologies that will help them better care for and understand their furry animals.
- Monitoring Pet Health and wellbeing: The growing emphasis on pet health and wellbeing has increased demand for devices that monitor vital signs, activity levels, and overall health. Smart pet trackers, health monitors, and even smart feeding systems enable owners to regularly monitor their pets' well-being and take proactive steps to maintain their health.
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Market Opportunities and Challenges
The pet technology sector is experiencing explosive growth as a result of a confluence of factors. This expansion is being driven by rising pet ownership rates, pet humanization, technological advancements, and an emphasis on pet health and wellness. Pet owners are increasingly looking for new solutions to improve their pets' quality of life, such as wearable devices, smart feeding systems, and remote monitoring tools. The ease of use of e-commerce and online platforms, combined with major investment and finance, has expedited industry growth. Pet tech companies are grasping possibilities to cater to these changing needs as urbanization and changing lifestyles affect how we care for our dogs.
The global pet tech market faces many challenges that must be addressed for long-term growth. One major issue is the wide diversity of dogs and their unique requirements. Different pet species, types, and sizes need individual solutions, making it challenging to create universal goods that appeal to everyone. Manufacturers and developers must invest in research and development in order to understand the unique needs of various pets and produce things accordingly. Another challenge is market fragmentation and competitiveness. The global pet technology market is experiencing a surge in new entrants, resulting in a crowded market. This competition makes product differentiation, pricing, and market penetration challenging. In such a competitive world, it is vital to build a distinct brand identity and effectively promote products to target consumers.
Market Competitive Landscape
The pet tech market's competitive landscape is a fluid field with numerous firms vying for prominence and market share. This panorama includes established industry titans leveraging their brand name and resources to provide a diverse range of smart pet goods, as well as a blossoming variety of startups and entrepreneurs infusing the market with new and imaginative ideas. Some market key players include Cleverpet, Dogtra, DOCOVACAY, Felcana, Fitbark, Garmin Ltd, Gopro, IceRobotics, iFetch LLC, Whistle, Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Type, By Product, By Application, By End User, By Distribution Channel. |
| Regions covered | Asia-Pacific, Middle East and Africa, North America, Europe, Latin America |
| Companies Covered | Cleverpet, Dogtra, DOCOVACAY, Felcana, Fitbark, Garmin Ltd, Gopro, IceRobotics, iFetch LLC, Whistle, Others. |
COVID-19 Impact on Global Pet Tech Market
The worldwide pet tech market has been affected by the COVID-19 pandemic in both positive and negative ways. One of the most visible consequences was an increase in demand for pet technology products. People were compelled to stay at home due to lockdowns and remote work arrangements, which encouraged pet adoptions and pet ownership. Pet owners sought ways to provide companionship, amusement, and care for their pets throughout this time period, resulting in a surge in demand for pet tech items. Interactive toys, smart feeders, and health monitors grew popular as pet owners sought innovative methods to entertain and manage their pets while spending more time at home.
Key Target Audience
- Pet Owners
- Pet Shops
- Veterinary
- Pet Enthusiasts
Our in-depth analysis of the Pet Tech Market includes the following segments:
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Key Topics Covered in the Report
- Global Pet Tech Market Size (FY’2023-FY’2033)
- Overview of Global Pet Tech Market
- Segmentation of Global Pet Tech Market By Type (GPS, RFID, Sensors, Others)
- Segmentation of Global Pet Tech Market By Product (Entertainment Equipment, Feeding Equipment, Monitoring Equipment, Pet Wearables, Tracking Equipment, Others)
- Segmentation of Global Pet Tech Market By Application (Communication & Entertainment, Pet Healthcare, Pet Owner Convenience, Pet Safety)
- Segmentation of Global Pet Tech Market By End Use (Commercial, Household)
- Segmentation of Global Pet Tech Market By Distribution Channel (Offline, Online)
- Statistical view of Global Pet Tech Market
- Expansion Analysis of Global Pet Tech Market
- Problems and Obstacles in Global Pet Tech Market
- Competitive Landscape in the Global Pet Tech Market
- Impact of COVID-19 and Demonetization on Global Pet Tech Market
- Details on Current Investment in Global Pet Tech Market
- Competitive Landscape of Global Pet Tech Market
- Key Market Players in the Global Pet Tech Market
- SWOT Analysis of Global Pet Tech Market
- Global Pet Tech Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Pet Tech Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Pet Tech Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Pet Tech Market
7. Global Pet Tech Market, By Type (USD Million)
7.1. Global Pet Tech Market Value Share and Forecast, By Type, 2023-20337.2. GPS7.3. RFID7.4. Sensors7.5. Others
8. Global Pet Tech Market, By Product (USD Million)
8.1. Global Pet Tech Market Value Share and Forecast, By Product, 2023-20338.2. Entertainment Equipment8.3. Feeding Equipment8.4. Monitoring Equipment8.5. Pet Wearables8.6. Tracking Equipment8.7. Others
9. Global Pet Tech Market, By Application (USD Million)
9.1. Global Pet Tech Market Value Share and Forecast, By Application, 2023-20339.2. Communication & Entertainment9.3. Pet Healthcare9.4. Pet Owner Convenience9.5. Pet Safety
10. Global Pet Tech Market, By End Use (USD Million)
10.1. Global Pet Tech Market Value Share and Forecast, By End Use, 2023-203310.2. Commercial10.3. Household
11. Global Pet Tech Market, By Distribution Channel (USD Million)
11.1. Global Pet Tech Market Value Share and Forecast, By Distribution Channel, 2023-203311.2. Offline11.3. Online
12. Global Pet Tech Market Forecast, 2019-2033 (USD Million)
12.1. Global Pet Tech Market Size and Market Share
13. Global Pet Tech Market, By Type, 2019-2033 (USD Million)
13.1. Global Pet Tech Market Size and Market Share By Type (2019-2026)13.2. Global Pet Tech Market Size and Market Share By Type (2027-2033)
14. Global Pet Tech Market, By Product, 2019-2033 (USD Million)
14.1. Global Pet Tech Market Size and Market Share By Product (2019-2026)14.2. Global Pet Tech Market Size and Market Share By Product (2027-2033)
15. Global Pet Tech Market, By Application, 2019-2033 (USD Million)
15.1. Global Pet Tech Market Size and Market Share By Application (2019-2026)15.2. Global Pet Tech Market Size and Market Share By Application (2027-2033)
16. Global Pet Tech Market, By End Use, 2019-2033 (USD Million)
16.1. Global Pet Tech Market Size and Market Share By End Use (2019-2026)16.2. Global Pet Tech Market Size and Market Share By End Use (2027-2033)
17. Global Pet Tech Market, By Distribution Channel, 2019-2033 (USD Million)
17.1. Global Pet Tech Market Size and Market Share By Distribution Channel (2019-2026)17.2. Global Pet Tech Market Size and Market Share By Distribution Channel (2027-2033)
18. Global Pet Tech Market, By Region, 2019-2033 (USD Million)
18.1. Global Pet Tech Market Size and Market Share By Region (2019-2026)18.2. Global Pet Tech Market Size and Market Share By Region (2027-2033)18.3. Asia-Pacific
18.3.1. Australia18.3.2. China18.3.3. India18.3.4. Japan18.3.5. South Korea18.3.6. Rest of Asia-Pacific
18.4. Europe
18.4.1. France18.4.2. Germany18.4.3. Italy18.4.4. Spain18.4.5. United Kingdom18.4.6. Rest of Europe
18.5. Middle East and Africa
18.5.1. Kingdom of Saudi Arabia18.5.2. United Arab Emirates18.5.3. Rest of Middle East & Africa
18.6. North America
18.6.1. Canada18.6.2. Mexico18.6.3. United States
18.7. Latin America
18.7.1. Argentina18.7.2. Brazil18.7.3. Rest of Latin America
19. Company Profile
19.1. Cleverpet
19.1.1. Company details19.1.2. Financial outlook19.1.3. Product summary19.1.4. Recent developments
19.2. Dogtra
19.2.1. Company details19.2.2. Financial outlook19.2.3. Product summary19.2.4. Recent developments
19.3. DOGVACAY
19.3.1. Company details19.3.2. Financial outlook19.3.3. Product summary19.3.4. Recent developments
19.4. Felcana
19.4.1. Company details19.4.2. Financial outlook19.4.3. Product summary19.4.4. Recent developments
19.5. Fitbark
19.5.1. Company details19.5.2. Financial outlook19.5.3. Product summary19.5.4. Recent developments
19.6. Garmin Ltd
19.6.1. Company details19.6.2. Financial outlook19.6.3. Product summary19.6.4. Recent developments
19.7. GoPro
19.7.1. Company details19.7.2. Financial outlook19.7.3. Product summary19.7.4. Recent developments
19.8. IceRobotics
19.8.1. Company details19.8.2. Financial outlook19.8.3. Product summary19.8.4. Recent developments
19.9. iFetch LLC
19.9.1. Company details19.9.2. Financial outlook19.9.3. Product summary19.9.4. Recent developments
19.10. Whistle
19.10.1. Company details19.10.2. Financial outlook19.10.3. Product summary19.10.4. Recent developments
19.11. Others
20. List of Abbreviations
21. Reference Links
22. Conclusion
23. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Pet Tech Market is projected to reach USD 121.53 billion by 2033, growing at a CAGR of 24.94% during the forecast period.
Pet Tech Market grew in market size from 2022. The Market is expected to reach USD 121.53 billion by 2033, at a CAGR of 24.94% during the forecast period.
Pet Tech Market CAGR of 24.94% during the forecast period.
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Pet Tech Market size is USD 121.53 billion from 2023 to 2033.
Pet Tech Market Segment is covered By Type, By Product, By Application, By End User, By Distribution Channel.
The North America region is anticipated to have the highest market share in the Pet Tech Market.
The key players in the market include Companies Covered Cleverpet, Dogtra, DOCOVACAY, Felcana, Fitbark, Garmin Ltd, Gopro, IceRobotics, iFetch LLC, Whistle, Others.
GPS trackers can be connected to the collar of a pet, allowing owners to track their location in real time. This is especially beneficial for wandering outside cats or dogs.
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