Ocean View, DE -- (SBWIRE) -- 05/20/2020 -- Increasing spending on pet health, safety and care has fueled global pet tech market trends, along with the deployment of AI and IoT enabled pet diagnostic solutions. Pet owners are shifting towards flexible, sophisticated and reliable methods that reduce the manual task of healthcare, feeding and cleaning litter by providing automatic systems and monitoring products.

The introduction of innovative technologies will simplify pet care while positively influencing pet tech market over the coming years.

With increasing disposable income of consumers, several key players are realizing the need to carry out innovations in pet care and produce products that allow owners to purchase based their pet's preference.

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Smart collars are witnessing widespread adoption due to increasing technological advancements and innovations in product offerings by the players. These products are being integrated with unique technologies such as Wi-Fi connectivity, GPS tracking and activity monitoring and tracking techniques. Few innovative products include Wi-Fi enabled PetSafe Smart Dog Trainer Collar, GPS and movement tracker Dog Collar Link-AKC and chew-proof Lupine Original Dog Collar.

Pet wearables segment comprised of majority of pet tech industry share in the year 2018. Companies like RAWR Inc have launched smart collar imbibed with 4G LTE network connectivity, Bluetooth connectivity, Wi-Fi and GPS tracking.

The product delivers all the data related to health and fitness of the pet to the owner, analyzes medical diagnosis and treatment. Undoubtedly, innovation in pet wearables will accelerate pet tech market trends over the years.

In terms of end-use, the adoption of pet technologies in the commercial sector is showcasing considerable demand owing to the burgeoning health monitoring concerns and fitness tracking in cattle farms. Rising application of the products to analyze, track and monitor fitness and health of horses that take part in horse races is further driving global pet tech market forecast.

Moreover, pet care solutions, when used in cattle facilitate monitoring of health conditions of buffaloes and cows to help deliver milk of high-quality, which in turn results in increased profit returns to the cattle owners.

Pet owners in the U.S. spend an increasing amount of money on the well-being of their pets, significantly steering demand for innovations in pet tech market.

As per North American Pet Health Insurance Association (NAPHIA), over 68% of the U.S. households owned a pet during 2017-2018. Furthermore, reports depict that the combined gross written premium of pet health insurance in North America in 2017 was valued at more than USD 1.2 billion.

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According to reports, the North America accounted for nearly 55% of the total pet tech industry share in 2018 and is growing at a faster rate.

Pet ownership among households in the U.S. is witnessing a rise in numbers, encouraging pet care organizations to offer advanced, innovative and reliable mechanisms in the country.

Prominent players comprising the pet tech market's competitive dynamics include Actijoy Solution, All Home Robotics, CleverPet, Dogtra, DOGVACAY, Felcana, Fitbark, Garmin Ltd., GoPro, IceRobotics, iFetch, LLC., Invoxia, Konectera, Loc8tor, Lupine Pet, Mars Incorporated, Motorola, Nedap N.V., Obe, Inc., Pawbo Inc, Petcube, Inc., Petkit, Petnet Inc., PetPace LLC, Petrics, PetSmart Inc., Pod Trackers Pty Ltd., Scollar, Smart Pet Love, SureFlap Ltd., Techmira Corp., Tianjin Smart Pets Technology Co. Ltd., Tractive, Wagz, Inc., WOPET.

Some Points From Table Of Content: -

Chapter 5. Pet Tech Market, By Application (Revenue & Shipments)
5.1. Key trends by application
5.2. Pet healthcare
5.2.1. Market estimates and forecast, 2015 – 2025
5.3. Pet owner convenience
5.3.1. Market estimates and forecast, 2015 – 2025
5.4. Communication & entertainment
5.4.1. Market estimates and forecast, 2015 – 2025
5.5. Pet safety
5.5.1. Market estimates and forecast, 2015 – 2025

Chapter 6. Pet Tech Market, By End-Use (Revenue & Shipments)
6.1. Key trends by end-use
6.2. Household
6.2.1. Market estimates and forecast, 2015 – 2025
6.3. Commercial
6.3.1. Market estimates and forecast, 2015 – 2025

Chapter 7. Pet Tech Market, By Distribution Channel (Revenue & Shipments)
7.1. Key trends by distribution channel
7.2. Physical pet store
7.2.1. Market estimates and forecast, 2015 – 2025
7.3. Online-only retailer
7.3.1. Market estimates and forecast, 2015 – 2025
7.4. Physical mass merchant store
7.4.1. Market estimates and forecast, 2015 – 2025

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