Petcare IoT Platforms Market Expected to Reach $24.72 Billion by 2030
InsightAce Analytic Pvt. Ltd. has unveiled a comprehensive market assessment report detailing the “Petcare IoT Platforms Market – Products (including Pet Wearables like Safety & Security (GPS Collars), Identification (Smart Tags), Tracking (Smart Collars), Behaviour Monitoring (Bark Collars), Facilitation (Temperature Scanners, Veterinarian Appointments), Medical Diagnostics and Treatment Devices), Connected Pet Products (such as Pet Feeders & Bowls, Pet Crates & Beds, Pet Doors, Pet Fences, Pet Toys, Self-Cleaning Litter Boxes), and Pet Care Platforms/Pet Apps (including Reminder Applications, Entertainment Apps, Dog Training Apps, Telemedicine Apps, and Other Apps).”
The report indicates that the petcare IoT platforms sector is set to expand at a remarkable compound annual growth rate (CAGR) of 17.90%, rising from its valuation of $5.64 billion in 2021 to an expected $24.72 billion by the year 2030, as per the latest findings from InsightAce Analytic. The Internet of Things (IoT) has emerged as a pivotal innovation for pet enthusiasts, allowing owners to supervise, monitor, collect health data, track activities, feed, and engage with their pets even when they are apart. This capability makes IoT devices particularly appealing to pet owners.
Several factors are contributing to the growth of the petcare IoT platforms market. These include a heightened focus on pet health, an increasing number of pet owners, the rise of digital technology adoption, a growing preference among pet owners for IoT solutions, increased spending on pet healthcare, and a heightened demand for monitoring devices. Additionally, government initiatives aimed at enhancing digital technologies within animal healthcare are also fueling market expansion. The Covid-19 pandemic has amplified pet owners’ desire for virtual care services, presenting significant growth opportunities for the Petcare IoT Platforms Market in the upcoming years. Nonetheless, challenges such as high service costs and a lack of awareness regarding IoT services for pets may hinder the industry’s growth in the short term.
In 2021, North America dominated the petcare IoT platforms market and is projected to experience significant growth opportunities throughout the forecast period, driven by rising costs in animal healthcare and the swift adoption of pet IoT applications. Furthermore, the Asia Pacific region is anticipated to witness substantial growth in the coming years, bolstered by increasing government support for animal welfare, advancements in digital product innovation, and a growing awareness among pet owners regarding pet health.
Key Players in the Petcare IoT Platforms Market
Notable companies 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), 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.
Recent advancements in the market include:
• In January 2022, Petriage, a company specializing in pet health technology, formed a partnership with Smart Tracking Technologies, LLC to incorporate real-time pet health data into their new Link Smart Pet Wearable device.
• In September 2021, PetSafe (US), a leader in pet product solutions, received two 2021 Pet Independent Innovation Awards for the ScoopFree Smart Self-Cleaning Litter Box and the Dancing Dot Laser Cat Toy.
• In September 2020, Petcube launched the Petcube Cam, an affordable smart camera featuring live vet chat, effectively merging pet monitoring with veterinary advice for pet owners.
• In May 2020, Mars Petcare introduced ‘Pet Health Pal,’ a complimentary digital education tool supported by a chatbot via Facebook Messenger and WhatsApp, aimed at promoting pet health and wellness.
• In November 2019, Findster Technologies initiated a Kickstarter campaign for a GPS pet tracker designed for tracking pets without incurring monthly fees or subscriptions.
Market Segmentation of Petcare IoT Platforms
Petcare IoT Platforms Market, by Products, 2022-2030 (Value in 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 Fences
o Pet Toys
o Self-Cleaning Litter Boxes
• Pet Care Platforms/Pet Apps
o Reminder Applications
o Entertainment Apps
o Dog Training Apps
o Telemedicine Apps
o Other Apps
Petcare IoT Platforms Market, by Pet Types, 2022-2030 (Value in US$ Mn)
• Dog
• Cat
• Fish
• Other Pet Types
Petcare IoT Platforms Market, by Region, 2022-2030 (Value in US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
North America Petcare IoT Platforms Market, by Country, 2022-2030 (Value in US$ Mn)
• The U.S.
• Canada
Europe Petcare IoT Platforms Market, by Country, 2022-2030 (Value in US$ Mn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
Asia Pacific Petcare IoT Platforms Market, by Country, 2022-2030 (Value in US$ Mn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand
Latin America Petcare IoT Platforms Market, by Country, 2022-2030 (Value in US$ Mn)
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa Petcare IoT Platforms Market, by Country, 2022-2030 (Value in US$ Mn)
• GCC Countries
• South Africa
• Rest of Middle East & Africa
About InsightAce Analytic
InsightAce Analytic is a firm specializing in market research and consulting, dedicated to assisting clients in making informed strategic decisions. Their qualitative and quantitative market intelligence solutions are designed to provide essential insights for market and competitive analysis, facilitating business expansion. The company aims to empower clients with a competitive edge by identifying untapped markets, exploring emerging technologies, segmenting potential markets, and repositioning products. Their expertise encompasses the provision of both syndicated and custom market intelligence reports, delivering in-depth analyses and key market insights efficiently and cost-effectively.
