What is the global market size of Pet Tech Market?

Pet Tech Market size was valued at USD 1809.57 million in 2022 and is poised to grow from USD 2365.1 million in 2023 to USD 6880 million by 2031, growing at a CAGR of 14.3% in the forecast period (2024-2031).

What is the key driver of Global Pet Tech Market?

The majority of gadgets require intermittent charging, which makes them difficult to operate. GPS trackers have a small operating window and are not reliable in rainy conditions. Certain devices, like neck collar trackers, are irritating for the pets and can occasionally result in rashes and infections.

Top Pet Tech Companies

Skyquest Technology's expert advisors have carried out comprehensive research and identified these companies as industry leaders in the Pet Tech Market. This Analysis is based on comprehensive primary and secondary research on the corporate strategies, financial and operational performance, product portfolio, market share and brand analysis of all the leading Pet Tech industry players.

Pet Tech Market Competitive Landscape

Pet Tech Market Top Players in the Pet Tech Market

Mars Incorporated
Garmin International, Inc.
Nedap N.V.
Afimilk
Xiaomi
Petcube Inc.
Fitbark Inc.
Pawbo (Acer)
Floap
Zoetis
Nestle Purina Petcare
Hill's Pet Nutrition
Chewy Inc.
Trupanion
Trupanion
Supertails
Wagr.ai
Petlibro
FluentPet
Flemo

Pet Tech Market

Pet Tech Market Report Snapshots

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Pet Tech Market size was valued at USD 2365.1 Million in 2023 and is poised to grow from USD 2703.31 Million in 2024 to USD 7863.84 Million by 2032, growing at a CAGR of 14.3% during the forecast period (2025-2032).

Intense rivalry is being seen in the pet wearables business, which is still in its early stages of development. To improve their position in the international market, businesses are concentrating on strategic acquisitions, alliances, and expansions. Market participants are concentrating on enhancing their presence through a variety of strategic activities, including new product development, strategic collaborations, joint ventures, and partnerships, as well as mergers and acquisitions. 'Mars Incorporated ', 'Garmin International, Inc. ', 'Nedap N.V. ', 'Afimilk ', 'Xiaomi ', 'Petcube Inc. ', 'Fitbark Inc. ', 'Pawbo (Acer) ', 'Floap ', 'Zoetis ', 'Nestle Purina Petcare ', 'Hill's Pet Nutrition ', 'Chewy Inc. ', 'Trupanion ', 'Trupanion ', 'Supertails ', 'Wagr.ai ', 'Petlibro ', 'FluentPet ', 'Flemo'

Spending on pets has increased as a result of the growing reliance on pets for mental health, fitness, and entertainment. The most extensively used pet wearable technology today is a device called a smart collar, because of ongoing technological breakthroughs and new product innovations. Modern technologies like GPS tracking, Wi-Fi connectivity, and activity tracking and monitoring are being integrated into these gadgets.

Beyond activity tracking, it is anticipated that demand for pet wearables for medical diagnosis and treatment would increase at a CAGR of more than 15% between 2022 and 2030. Opportunities for category expansion are being created by the spending on pet health diagnostics. Without a question, pet owners are spending more money on their pets every day, which bodes well for the future of pet wearables. This spending is partially motivated by emotional factors, such as growing emotional attachment and reliance on the pets for amusement, company, and mental health.

Due to the rising adoption of pets in the United States, where 62% of pets belong to younger generations and 32% to baby boomers—North America is predicted to have significant development in the pet tech market and dominate the market. Additionally, millennials' purchasing power has a significant impact on the regional market share. Due to the increasing usage of pet technology, such as activity trackers, pet sitter applications, home monitoring devices, microchips, VIP (Very Important Pets) access, and data conversion & backup, among other things, Asia Pacific is predicted to have considerable growth in the pet tech market.

Top Pet Tech Companies

Pet Tech Market Competitive Landscape

Pet Tech Market

Pet Tech Market Report Snapshots

FAQs

What is the global market size of Pet Tech Market?

Who are the key vendors in the Pet Tech Market?

What is the key driver of Pet Tech Market?

What is the key market trend for Pet Tech Market?

Which region accounted for the largest share in Pet Tech Market?

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