Pet Tech Market Analysis

Type (RFID, GPS, Sensors)

The global pet tech market is segmented and analyzed for demand and supply by type into RFID, GPS, and sensors. Out of which, the RFID segment is anticipated to garner the highest revenue by the end of 2037. The growth of the segment can be attributed to the growing need to monitor the temperature, heart rate, and more, of the pet. Moreover, the obesity prevalence among pets is also growing. About 55% of dogs and approximately 59% of cats in the United States were overweight or obese in 2022. In addition to the domestic pets, about 29% of horses were also thought to be obese. Hence, the need to monitor calorie intake is also growing. The RFID trackers enable the monitoring of heart rate variability, caloric intake, body temperature, and pulse. These advantages are crucial to maintaining segment growth, which is anticipated to last for the entire forecast time period. Also, its usage is growing by the farmers in order to track their animals. Radio frequency identification also known as RFID has an antenna in the reader which delivers a radio signal to activate the RFID chip when the animal is within range of the reader. Then, a signal with the animal's identifying number is returned by the chip. An animal tracking computer may obtain the information from the reader. A multitude of parameters, such as medication dose, feed output, weight, and milk production, are tracked by farmers and ranchers using tags.

Product (Monitoring Equipment, Tracking Equipment, Entertainment Equipment)

The global pet tech market is also segmented and analyzed for demand and supply by product into monitoring equipment, tracking equipment, and entertainment equipment. Amongst which, the tracking equipment segment is anticipated to grow significantly over the forecast period, backed by growing urge to monitor the activity of the pet. Moreover, growing cases of lost pets is also estimated to boost the segment growth. Pets are fitted with tracking devices in order to boost the probability of owner-lost pet reunions. Also, the demand for mobile tracking solution is also growing. A mobile phone receives the pet's location information via radio frequencies (RFs) from satellites (such as GPS), and it is expected to drive the growth of the segment in the market.

Our in-depth analysis of the global market includes the following segments: