Petcare IoT Platforms Market | Know the Latest Trends and Future Aspect to 2030

According to the latest research by InsightAce Analytic, the global Petcare IoT Platforms Market is valued at US$ 5.64 billion in 2021, and it is expected to reach US$ 24.72 billion by 2030, with a CAGR of 17.90% during a forecast period.

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IoT for pets is a significant invention for pet's owners and lovers. With the help of pet IoT platforms, people can watch, monitor, collect health information, follow activities, feed, and play games with pets even when they are not with them. Hence, pet owners are interested in IoT devices.

The growth of the global Petcare IoT Platforms Market can be attributed to different factors, such as the increasing need to maintain pet health, rising number of pet owners, adoption of digital technologies, growing pet owners' preference towards IoT services, increasing spending on pet healthcare and well-being, high demand for pet monitoring devices, and the rising government funding to develop digital technologies for animal healthcare. The Covid-19 pandemic restrictions have increased pet owners' preference towards virtual care services, which is expected to create lucrative growth opportunities for the Petcare IoT Platforms Market during the projected period. However, the lack of awareness about the IoT services for pets and the high costs of services may hinder market expansion in the coming future.

North America dominated the Petcare IoT Platforms Market in 2021 and is predicted to witness significant growth opportunities over the forecast period on account of the growing animal healthcare expenditure and fast adoption of IoT applications for pets. Furthermore, Asia Pacific is expected to register considerable growth in the forthcoming years due to the increasing number of pet owners' awareness about pet health, rising digital product innovations, and the growing government support to improve animal well-being.

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Major market players operating in the Petcare IoT Platforms Market include AVID Identification Systems (US), Datamars, Inc. (Switzerland), EIDAP Inc. (Canada), Findster (US), FitBark (US), Gibi Technologies (US), Link AKC (US), Loc8tor (UK), Marco Polo (US), Microchip4Solutions Inc. (Canada), Nuzzle (US), PetCare (US), PetDesk (US), V2P2 LLC (US), VetCheck (Australia), Virtual Recall (UK), VitusVet (US), Dogstar Life (US), Dogtra (US), EYENIMAL (US), Felcana (UK), FitBark (US), Garmin International, Inc. (US), GoPro (Fetch) (US), i4C Innovations (India), INUPATHY, Inc. (Japan), Kyon (Greece), Milkline (Italy), Pitpatpet Ltd. (UK), Scollar, Inc. (US), TekVet Technologies Co. (US), Tractive (Austria), Whistle Labs (US), PawPrint (UK), Pethealth Inc. (Canada), PetPace (US), PetSafe (US), Sure Petcare (SureFlap Ltd) (UK), Trovan, Ltd. (Isle of Man), Whistle (Tagg) (US), WUF (US), 11 PETS LTD. (Spain), DogLog (US), Intervet Inc. (Merck & Co.) (US), among others.

Key developments in the market:

• In January 2022, Petriage, a pet health technology company, partnered with the Link Smart Pet Wearable by Smart Tracking Technologies, LLC. Petriage integrates real-time pet health information from its AI-driven symptom analysis tool into Smart Tracking Technologies' brand-new Link Smart Pet Wearable gadget as part of this agreement.

• In September 2021, PetSafe (US), a global leader in pet product solutions honoured with two 2021 pet independent innovation awards for two PetSafe products. 1. ScoopFree Smart Self-Cleaning Litter Box. 2. Dancing Dot Laser Cat Toy.

• In September 2020, Petcube released a new Petcube Cam, an affordable smart camera with built-in live vet chat. The new device pairs the advanced pet monitoring functions with online veterinarian advice, making on-demand pet care accessible to every pet parent.

• In May 2020, Mars Petcare launched digital 'Pet Health Pal,' a new, free digital education tool powered by the Facebook messenger and WhatsApp chatbot to support pet health and wellness.

• In November 2019, Findster Technologies launched a Kickstarter campaign for a new GPS pet tracker, which allows monitoring pets anywhere, at any time, around home and yard, without monthly cell phone fees or subscriptions.

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Market Segments:

Global Petcare IoT Platforms Market, by Products, 2022-2030 (Value US$ Mn)

• Pet Wearables
o Safety & Security (GPS collars)
o Identification (Smart Tags)
o Tracking (Smart Collars)
o Behaviour Monitoring (Bark Collars)
o Facilitation (Temperature Scanners, Veterinarian Appointments)
o Medical Diagnostics and Treatment Devices
• Connected Pet Products
o Pet Feeders & Bowls
o Pet Crates & Beds
o Pet Doors
o Pet Fence
o Pet Toys
o Self-Cleaning Litter Boxes
• Pet Care Platforms/Pet Apps
o Reminder Applications
o Entertainment App
o Dog Training App
o Telemedicine App
o Other Apps

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This release was published on openPR.