The Pet Tech Market is witnessing a remarkable evolution, powered by the convergence of smart technologies and the ever-growing human-animal bond. In 2024, the global Pet Tech Market was estimated at USD 15.79 billion, and it is poised for exponential growth. The market is forecasted to grow from USD 18.28 billion in 2025 to USD 68.56 billion by 2034, expanding at a CAGR of 15.8% over the forecast period. This substantial surge reflects both technological innovation and a cultural shift toward more involved and tech-assisted pet care.
What is Pet Tech?
Pet tech refers to the ecosystem of technology-driven products and services designed to improve pet health, safety, activity, nutrition, and overall well-being. This includes smart collars, GPS trackers, automated feeders, health monitoring devices, interactive toys, AI-based pet cameras, wearables, and even tele-veterinary solutions.
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Key Market Drivers
1. Rise in Pet Humanization
Pet owners are increasingly treating pets as family members, investing in premium products and services that ensure their comfort and safety. This trend-known as pet humanization-is fueling demand for intelligent solutions that allow for real-time monitoring, personalized care, and remote interaction.
2. Increasing Pet Adoption Rates
With rising awareness of mental well-being, more individuals and families are adopting pets, particularly in urban areas. This rise in adoption is directly contributing to increased demand for products that simplify and enrich pet ownership.
3. Surge in Disposable Income
Higher disposable incomes globally have empowered pet parents to explore sophisticated solutions like AI-powered litter boxes, remote-controlled toys, and automated grooming stations, especially in North America and Europe.
4. Integration of IoT and AI
The integration of Internet of Things (IoT) and Artificial Intelligence (AI) in pet care devices has made it easier to track, analyze, and respond to pet behavior in real time. AI-based analytics can now predict health risks and behavior anomalies, offering a proactive approach to pet care.
5. Growing Demand for Health Monitoring and Tele-Veterinary Services
As healthcare digitization expands, pet owners are seeking wearables that monitor vitals, diet, and activity, and telemedicine platforms that provide 24/7 access to veterinary professionals. This is especially useful in rural and remote areas.
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Source : https://www.openpr.com/news/4099320/exploring-the-growth-of-the-pet-tech-market-trends-drivers