When it comes to pet industry, pet technology has developed rapidly. People have been talking for years about the untapped potential of pet technology as a market growth driver. But the way pet technique has affected the pet market, now it appears that no one has the word to speak about it.
According to Kelsey Davis who is senior manager of digital media marketing for the Consumer Technology Association, nowadays we are using such technology that can track us, monitor us and even can help us related to nutrition and fitness. But now this latest technology is being used for pets which has proved to be important not only for pets but also for pet owners. Kelsey Davis published a report in June. The report revealed that a sense of safety and peace towards pet has prompted consumers to buy pet techniques. According to statistics, it is being estimated that to monitor, entertain, feed, indoor pet hutch and track every activity of pets, the market of emerging technology devices is increasing unexpectedly. It is being estimated that at the last phase of 2018, pet technical devices market will increase by 20% to 4.3 million units and it will increase by 18 percent to $ 233 million. As a result, the future of the pet market is likely to be golden. According to data from market analysts, pet tech sales have increased significantly. The use of wearable pet technology has increased. For example, in 2017 wearable pet devices such as sensors, GPS and RFID were sold to $ 510 million and this sale is being estimated to reach $ 900 million in 2022. By either count, pet tech represents no more than 1 percent of the $50 billion in pet devices sold in the U.S. in 2017. It shows the potential of the advancement of the pet technology.
10 years ago, people who used pet technology as a key pet market trend, they were talking about automated feeders, waterers, litter boxes, electronic toys, training devices, and tracking devices such as GPS. All those devices are still used prominently throughout the world. The use of these devices has provided a new direction to the pet owner’s life as well as pets. Integration with the smartphone or desktop-based apps both have proved to be important for controlling pets and connecting online. With the help of these, pet owners can easily monitor the behavior of the pet and can easily reorder supplies. Apart from these, the wearable pet technology is also new and it is considered very helpful in the growth of the market. This technique is quite easy to wear for pets. They can wear wearable tech 24 hours without facing any problem. Pet microchipping system is used in wearable pet technology. But nowadays the use of new trackers and activity monitors has increased significantly compared to the pet microchipping systems because these trackers and monitors are multi-use devices. The main reason for the growing demand in the market is that they provide easy-to-use apps to pet owners for monitoring and connects the owners to the health care of the pet. When it comes to product advancement, most of the products are related to e-commerce. IOT (Internet Of Things) has been discussed in  “The Internet Becomes the New Pet Parent, on Wikipedia. You can find more information about the network of physical devices, home devices, vehicles, and other items embedded with electronics, software, sensors, and other pet tech devices on Wikipedia. These components are helpful to connect the object and can exchange data.
The use of smart connected devices is increasing due to the convenience. Such devices are playing an important role in providing easy pet care. The most important benefit is that pet health has enhanced significantly with the help of them. Smart products are considered the latest and most advanced products in the pet market. These are very helpful in tracking the real time location of the pet. Not only this, these products also help pet owners track all the activities of the pet and body functions. As a result, the health problems of the pet can be detected. So your pet does not face any physical problem because pet owner can take action already. Through the smart devices pet owners can consult directly with veterinarians and other service providers.
With so many pet specialty-type products now available online or in mass channels, the future of pet market premiumization hinges largely on enhanced pet health. Smart products and services connected to the internet are integrated to care for animals health.
We are sure that you may have understood that how pet tech will impact the future of the pet market? Still, if you have any doubt, you can ask us in the comment section.