Press release
Pet Tech Market Outlook 2025-2034: Key Trends, Growth Drivers, and Market Share
Pet Tech Market
The pet tech market has grown rapidly in recent years. It will rise from $6.28 billion in 2024 to $7.53 billion in 2025, at a CAGR of 19.9%. This growth is driven by increased pet ownership, the rise of e-commerce for pet products, a growing focus on pet health and wellness, urbanization, busy lifestyles, and the humanization of pets.
The pet tech market is projected to grow exponentially, reaching $15.74 billion by 2029 with a CAGR of 20.3%. The market's growth is driven by the integration of AI and machine learning, telehealth services for pets, expansion of smart pet ecosystems, environmental sustainability, and personalized nutrition. Key trends include collaborations with industry experts, wearable technology advancements, smart feeding solutions, pet tracking systems, and telehealth veterinary services.
What Are the Primary Growth Drivers for the Pet Tech Market?
The rising trend of pet ownership is set to boost the growth of the pet tech market. Pet adoption involves transferring responsibility for a pet that was previously owned by another party. Pet tech products are designed to improve the well-being, health, safety, and overall experience of both pets and their owners. For example, in January 2023, Petfood Industry reported that dog adoptions increased from 393,712 in 2021 to 398,477 in 2022, marking a 1.2% rise from the previous year. Additionally, cat adoptions rose by approximately 2%, reaching 539,015 in 2022. As a result, the rising adoption of pets is accelerating the growth of the pet tech market.
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Who Are the Dominant Companies Influencing Pet Tech Market Trends?
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
How Is the Pet Tech Market Evolving?
Leading companies in the pet tech sector are advancing technology, such as Minitailz GPS technology, to improve pet health tracking and strengthen their market position. GPS technology enables precise location tracking using satellite signals. For example, in January 2024, Invoxia, a consumer electronics company based in France, introduced the Minitailz Smart Pet Tracker. This AI-powered wearable for cats and dogs functions as both a GPS tracker and a health monitoring device. It tracks respiratory rate and heart vitals, detects unusual pet behaviors, and differentiates between activities like walking, running, and eating. Additionally, it can identify atrial fibrillation in pets and provides detailed health reports via an integrated app. The device includes a built-in SIM with GPS functionality for activity monitoring and lost pet tracking, alongside geofencing capabilities.
What Are the Different Segmentations in 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 Region Is at the Forefront of the Pet Tech Market?
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 Is Covered In The Pet Tech Global Market Report?
- Market Size Analysis: Analyze the Pet Tech Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Pet Tech Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Pet Tech Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Pet Tech Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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