Strong Growth Ahead: Pet Tech Market Size To Grow At Arecord 20.3% Cagr By 2029

The Pet Tech Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

How Big Is the Pet Tech Market Size Expected to Be by 2034?
In recent years, the pet tech industry has seen a significant expansion. The market size is set to increase from $6.28 billion in 2024 to $7.53 billion in 2025, reflecting a compound annual growth rate (CAGR) of 19.9%. The notable growth during the historic period is due to factors such as a surge in pet ownership, the rise of online shopping for pet products, an increased emphasis on pet health and wellness, urbanization and high-tempo lifestyles, as well as treating pets more like family members.

The size of the pet tech market is projected to expand greatly in the forthcoming years. With an estimated compound annual growth rate (CAGR) of 20.3%, it is expected to reach $15.74 billion by 2029. The projected expansion during the forecast period is primarily credited to the incorporation of artificial intelligence and machine learning, the rise of telehealth services for pets, the development of smart pet home ecosystems, environmental mindfulness, and bespoke nutrition solutions. Key trends anticipated during the forecast period consist of partnerships with pet industry specialists, progress in wearable technology, intelligent feeding solutions, pet identification and tracking, along with telehealth and remote veterinary services.

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What Are the Emerging Segments Within 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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What Long-Term Drivers Are Shaping Pet Tech Market Trends?
The escalating trend of pet adoption is anticipated to fuel the pet tech market's expansion in the future. Pet adoption involves assuming care for an animal previously under someone else's guardianship. Pet tech products, which cater to the physical health, mental well-being, and overall satisfaction of both pets and their owners, are gaining popularity. As stated by Petfood Industry, a US-based platform for professionals in the pet food and treat manufacturing sector, in January 2023, dog adoption figures rose from 393,712 in 2021 to 398,477 in 2022, marking an apparent 1.2% year-over-year increase. Additionally, cat adoptions by U.S. residents also saw approximately a 2% rise, reaching 539,015 in 2022. Consequently, this surge in pet adoption trends is accelerating the growth of the pet tech market. Pet Tech Market Driver: Rising Disposable Income Drives The Pet Tech Market

Who Are the Top Competitors in Key Pet Tech Market Segments?
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

What Pet Tech Market Trends Are Gaining Traction Across Different Segments?
Leading entities in the pet tech industry are centering their efforts on cultivating advanced technologies like the Minitailz GPS technology. This focus is intended to augment pet health monitoring and to secure a competitive advantage within the market. GPS technology harnesses signals from satellites for meticulous location tracking. As an example, in January 2024, the consumer electronics company hailing from France, Invoxia, introduced the Minitailz Smart Pet Tracker. This state-of-the-art AI device designed for cats and dogs serves both as an all-encompassing GPS tracker and a wellness tool. Besides tracking location, this device also monitors respiratory rate, assesses heart vitals and senses any unusual pet behaviors. It also distinguishes various activities in pets like walking, running and eating. In additional to these features, it identifies atrial fibrillation in pets and provides comprehensive health reports via an associated app. The Minitailz tool comes equipped with an in-built SIM, which incorporates GPS technology for tracking activity and finding lost pets. It also contains geofencing properties which include vital sign monitoring, atrial fibrillation detection and an integrated SIM.

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Which Regions Are Becoming Hubs for Pet Tech Market Innovation?
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.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Pet Tech Market?
2. What is the CAGR expected in the Pet Tech Market?
3. What Are the Key Innovations Transforming the Pet Tech Industry?
4. Which Region Is Leading the Pet Tech Market?

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