Pet Tech Market 2025 Global Analysis By Key Players - DogVacay (Acquired by Rover, March 2017), Felcana, Garmin, GoPro, invoxia, Motorola Solutions, Nedap, Petcube, PetSmart, Tractive

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.

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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.

The Major Key Players in the Pet Tech Market are as follows:
DogVacay (Acquired by Rover, March 2017)
Felcana
Garmin
GoPro
invoxia
Motorola Solutions
Nedap
Petcube
PetSmart
Tractive

Pet tech labs across the globe are concentrating on enhancing the efficacy, applicability, and outcomes of integration of technology with pets. The key products introduced by pet tech labs that have gained traction in recent times include smart wearables, smart crates and beds, smart toys, smart furniture, smart fencing, smart bowls and feeders, and smart pet doors. As more pet parents embrace the benefits of technology, pet technology is poised to witness even faster growth in the future, thereby augmenting pet tech market.

In terms of the regional landscape, the North America pet tech market held more than 55% of the industry share in 2018 and will experience steady growth due to the increase in the adoption of technological solutions in the household sector. It has been observed that major changes in pet ownership are in the pipeline due to the advent of technological and cultural change.

Nowadays, pet parents are opting, not for traditional food but nutritious food with healthy ingredients for their pets. They are also paying more attention to pet care, grooming, transportation, and many other aspects. The pet owners in North America are spending massively on the health and fitness of their pets as well.

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Pet tech companies are on the continuous quest of undertaking novel methods to keep pets close to their owners which has given rise to several new applications and solutions that can make the pet's life feasible and trouble-free. For instance, in May 2019, Petz, a chain of pet shops in Brazil had recently created an e-commerce tool named Pet-Commerce which combines artificial intelligence with facial recognition to aid dogs make their own online shopping decisions and provide their dogs the best- ever experience. These novel innovations will attract more pet owners and highlight the substantial growth potential for pet tech market players.

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