Pet Tech Market Size By Product (Pet Wearables [Smart Collar, Smart Vest, Smart Harness, Smart Camera], Smart Pet Crates & Beds, Smart Pet Doors, Smart Pet Feeders & Bowls, Smart Water Dispenser, Smart Pet Fence, Smart Pet Toys), By Application (Pet Healt

Pet Tech Market Size By Product (Pet Wearables [Smart Collar, Smart Vest, Smart Harness, Smart Camera], Smart Pet Crates & Beds, Smart Pet Doors, Smart Pet Feeders & Bowls, Smart Water Dispenser, Smart Pet Fence, Smart Pet Toys), By Application (Pet Healthcare, Pet Owner Convenience, Communication & Entertainment, Pet Safety), By End Use (Household, Commercial), By Distribution Channel (Physical Pet Store, Online-Only Retailer, Physical Mass Merchant Store), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2023 - 2032

Pet Smart Devices market is anticipated to witness robust growth between 2023 and 2032, primarily owing to the rising awareness about the mental and physical fitness of pets. Besides, the rising number of pet smart device start-up firms in the world and the growing demand for remote tracking and monitoring of pets will also drive the market demand during the next decade.

Overall, the pet smart devices market has been segmented in terms of product, pet wearable, application, end-use, distribution channel, and region.

In terms of the product, the pet wearables segment accounted for over 40% market share in 2022. The growing product demand will be mainly attributed to the technical advancements in the healthcare industry. Additionally, pet owners are becoming increasingly conscious about their pet’s health, and issues such as obesity in pets are also monitored regularly. According to a recent finding by the Association of Pet Obesity and Prevention, more than half of pet dogs and cats are overweight, and such an unprecedented number of pet obesity will fuel the demand for wearables that can monitor their activity levels.

Based on application, the communication and entertainment shipment is expected to reach more than 50 million units by 2032. Since pet owners are becoming more professionally equipped, the need for pet monitoring has drastically increased. This has potentially spurred the demand for wearables and smart pet toys over the years.

On the basis of the distribution channel, the physical pet store segment will grow robustly through 2032. Physical pet stores enable users to personally inspect a product before purchasing it. Besides, retailers offer personalized shopping experiences and specially designed and customized products, to meet the subjective requirements of both pets and pet owners.

To cater to the growing demand for physical pet stores, crucial firms, operating in this field are also expanding their business operations. For instance, in February 2022, German-based pet food company, Fressnapf announced that it will open 400 new stores in the European continent during the next three years. Alongside, the firm also plans to continue accelerating its reach in e-commerce.

In the context of the region, the pet smart devices market in Europe was valued at more than USD 1 billion in 2022. The regional market growth over the foreseeable period, will be driven by the rising integration of radio frequency and sensors within the pet industry. Besides, increasing pet adoption in this region, coupled with the presence of a large number of startups will also foster the market demand in this continent.