Pet Tech Market Size And Forecast

Pet Tech Market size was valued at USD 15.98 Billion in 2024 and is projected to reach USD 80.46 Billion by 2032, growing at a CAGR of 24.7% from 2026 to 2032.

Pet Tech is the use of technology in products and services that aim to improve the health, safety, and overall well-being of pets. This burgeoning sector comprises a wide range of applications, such as health monitoring gadgets, GPS trackers, and smart feeding systems.

Wearables, such as smart collars, can track a pet's location and health indicators, whereas applications can improve contact with vets or provide real-time updates on a pet's activity levels.

Furthermore, AI-powered bark translators and behavioral monitoring cameras are examples of how Pet Tech attempts to bridge the communication gap between pets and their owners, resulting in a higher quality of life for both.

Global Pet Tech Market Dynamics

The key market dynamics that are shaping the pet tech market include:

Key Market Drivers:

Increasing Pet Ownership and Humanization of Pets: The expanding number of pet owners, combined with the habit of considering pets as family members, is boosting demand for pet tech products. According to the American Pet Products Association's (APPA) 2021-2022 National Pet Owners Survey, 70% of U.S. households own a pet, accounting for 90.5 million homes. This is a considerable rise above 56% in 1988, the first year the survey was done.

Rising Pet Healthcare Expenditure: Pet owners are more prepared to invest in their pets' health and well-being, driving up demand for pet health monitoring gadgets. According to the American Pet Products Association, Americans spent USD 103.6 Billion on their pets in 2020, with USD 31.4 Billion going toward vet care and product sales. This value is expected to reach USD 32.3 Billion by 2021, indicating a growing market for pet health-related technologies.

Increasing Adoption of Smart Home Devices: The ubiquity of smart home technology is spreading to pet care, accelerating the development of linked pet equipment. According the Verified Market Research, the global smart home market is predicted to increase from USD 222.38 Billion in 2023 to $1048.72 billion by 2032, at a CAGR of 23.6%. This increase in smart home use is expected to benefit the pet tech market, as smart feeders, pet cameras, and automated litter boxes become more common.

Key Challenges:

High Cost of Technology: The expensive cost of modern items such as smart collars, GPS trackers, and health monitoring equipment creates a substantial hurdle for the Pet Tech market. Many consumers, particularly those on a tight budget, find these prices prohibitively expensive, making them reluctant to invest in such technologies. This high cost restricts market penetration and slows the adoption of innovative pet technology solutions by potential users.

Low Knowledge and Education: A lack of awareness and comprehension of pet technology among pet owners limits the market's growth. Many consumers are unfamiliar with the characteristics and benefits of existing products, reducing their readiness to adopt new technologies. Educational campaigns are needed to enlighten pet owners about how these devices improve their pets' health and safety, hence encouraging more acceptance and usage of pet tech.

Key Trends:

Growing Demand for Health and Wellness Solutions: There is an apparent shift in the Pet tech market that emphasizes health and wellness. Pet owners are growing interested in equipment that tracks their pets' health indicators, such as fitness trackers, smart scales, and telemedicine platforms. These innovations provide proactive health management, allowing for early diagnosis of possible disorders and prompt interventions, thereby improving pets' general well-being and bringing peace of mind to owners.

Integration of Artificial Intelligence: The integration of artificial intelligence (AI) and machine learning into Pet Tech devices is gaining popularity. AI-powered products can learn and adapt to pet habits, improving their functionality. Smart feeders, for example, may monitor eating habits and adapt feeding schedules, whilst automated litter boxes can clean themselves depending on usage patterns. This trend improves the customer experience and encourages efficient pet care management, appealing to tech-savvy pet owners.

Rise of E-Commerce: The Pet Tech market is experiencing a substantial movement toward e-commerce as the principal distribution channel. Online shopping provides convenience and a larger assortment of products for pet owners, making it easier to obtain cutting-edge pet technology. This trend is compounded by the growing reliance on digital platforms to buy pet supplies, resulting in greater sales and market growth.

Global Pet Tech Market Regional Analysis

Here is a more detailed regional analysis of the pet tech market:

North America:

According to Verified Market Research, North America is estimated to dominate the market during the forecast period. North America, especially the United States, has one of the world's highest pet ownership rates, which drives demand for pet tech goods. According to the American Pet Products Association's (APPA) 2021-2022 National Pet Owners Survey, 70% of U.S. households own a pet, accounting for 90.5 million homes. Also, Americans spent $103.6 billion on their pets in 2020, with the figure expected to rise to USD 109.6 Billion by 2021, indicating a booming market for pet-related items and technologies.

Furthermore, the growing popularity of pet wearables for tracking health, location, and activity is a major driver in North America. According to Verified Market Research, the global pet wearable market is expected to be worth USD 1.5 Billion in 2023, with North America accounting for 38.2% of total revenues. From 2023 to 2032, the market is predicted to increase at a compound annual growth rate (CAGR) of 18.7%, with North America driving the majority of this growth.

Europe:

Europe region is estimated to exhibit substantial growth during the forecast period. Europe has one of the world's highest pet ownership rates, which drives demand for pet tech products. According to the European Pet Food Industry Federation (FEDIAF), 88 million families in the EU would possess a pet in 2021, accounting for 46% of all households. According to the same survey, Europeans spent €21.2 billion on pet-related items and services in 2020, representing a 5.3% rise over the previous year and suggesting a developing market for pet tech.

Furthermore, the longer lifespan of pets in Europe is fueling demand for health monitoring pet tech gadgets. A study published in the Journal of Feline Medicine and Surgery discovered that the average lifetime of cats in the United Kingdom increased from 11 years in 1995 to 14 years in 2015. This trend is anticipated to spread throughout Europe, resulting in increasing healthcare and monitoring needs for elderly pets, strengthening the pet tech market.

Asia Pacific:

The Asia Pacific region is estimated to exhibit the highest growth during the forecast period. The Asia Pacific region is experiencing a spike in smart device use, which includes pet tech products. According to the GSMA's The Mobile Economy Asia Pacific 2021 report, the area will have 1.2 billion IoT connections by 2025, rising at a 7% CAGR over 2020. This widespread acceptance of IoT technology is propelling the rise of connected pet products in the region, as pet owners seek smart solutions for pet care and monitoring.

Furthermore, the rising disposable incomes in the Asia Pacific region are driving up spending on pets, especially pet technology items. According to Research's Pet Industry White Paper 2020, the average yearly spending on pets in China reached 5,561 yuan (approximately $870) per pet in 2020, up 7% from 2019. According to the same survey, 95% of Chinese pet owners consider their pets to be family members, which is fueling demand for improved pet care solutions.

Global Pet Tech Market: Segmentation Analysis

The Global Pet Tech Market is segmented based on Type, Product, Application, End-User Industry, and Geography.

Pet Tech Market, By Type

• RFID
• GPS
• Sensors
• Others

Based on Type, the market is segmented into RFID, GPS, Sensors, and Others. The RFID segment is estimated to dominate the pet tech market owing to its capacity to provide reliable tracking and health monitoring for dogs. RFID technology accounted for more than 27% of the market in 2022, allowing pet owners and veterinarians to monitor important health data such as heart rate and temperature using integrated chips. This growing awareness and use of RFID solutions is likely to continue until 2035, as pet owners prioritize their pets' health and safety.

Pet Tech Market, By Product

• Monitoring Equipment
• Tracking Equipment
• Entertainment Equipment
• Feeding Equipment
• Pet Wearables
• Others

Based on Product, the pet tech market is segmented into Monitoring Equipment, Tracking Equipment, Entertainment Equipment, Feeding Equipment, Pet Wearables, and Others. The pet wearables segment is estimated to dominate the market over the forecast period. Pet wearables' popularity stems from their capacity to monitor pets' health and location, giving owners peace of mind and improving pet safety. This demand is projected to increase as pet owners emphasize their pets' well-being and security.

Pet Tech Market, By Application

• Pet Safety
• Pet Healthcare
• Pet Owner Convenience
• Communication & Entertainment

Based on Application, the market is divided into Pet Safety, Pet Healthcare, Pet Owner Convenience, and Communication & Entertainment. The pet healthcare segment is estimated to dominate the global market. This dominance is fueled by an increased emphasis on pet health and well-being, as pet owners are more likely to invest in technology that monitors and improves their pets' health. Devices such as fitness trackers, health monitoring systems, and telemedicine platforms provide proactive health management by detecting possible problems early and intervening promptly. This development reflects a rising understanding of pets as essential family members, urging owners to prioritize their health.

Pet Tech Market, By End-User Industry

• Household
• Commercial

Based on End-User Industry, the market is segmented into Household and Commercial. The household segment is estimated to dominate the market in the forecasted period. The growing number of pets in households, especially dogs and cats, has increased the need for smart gadgets specifically developed for these animals. Pet owners in this category are investing substantially in automated food distribution systems, smart collars, and other technologies that allow them to remotely monitor their pets' health and behavior, which is helping to drive the household segment of the Pet Tech market.

Pet Tech Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the World

Based on Geography, the Pet Tech market is classified into North America, Europe, Asia Pacific, and the Rest of the World. North American region is estimated to hold the largest share of the pet tech market owing to high disposable incomes and a strong preference for pet ownership. Consumers in this region are increasingly investing in smart pet products, such as GPS trackers and health monitoring gadgets, to improve their pets' health. The expanding prevalence of pet health issues, as well as the growing trend of adopting rescue pets, are driving demand for new pet technology solutions in North America.

Key Players

• The "Pet Tech Market" study report will provide valuable insight with an emphasis on the global market. The major players in the market are Rheon Automatic Machinery Co., Ltd., Gaser, Metalbud Nowicki, Marel, Provisur Technologies, Formax (A Middleby Company), JBT Corporation, Marlen International, Gunther Maschinenbau GmbH, and Weber Inc.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

• Pet Tech Market Recent Developments
• In March 2024, FitBark's latest health monitor announced the use of advanced analytics to detect irregularities in pet health and activity patterns. The device employs machine learning to anticipate health problems and provide preventive measures. FitBark's emphasis on data-driven insights reflects the trend toward individualized pet healthcare solutions.
• In May 2024, Tractive, which is well-known in Europe for its GPS pet trackers, announced its expansion into the United States. The updated GPS tracker provides better real-time tracking, user-friendly software, and longer battery life. Tractive's growth aims to increase its portion of the increasing North American market.