JERSEY CITY, NJ, February 17, 2022 /PRNewswire/ — InsightAce Analytic Pvt. announces the publication of a market assessment report on the “Global Pet Digital Technology Market by Service Type (Telemedicine, Telehealth, Reminder Apps, Trackers, Wearable Devices and Market Platforms) Trends, Industry Competition Analysis, COVID-19 Impact Analysis , Revenues and Forecasts to 2030 » presents a detailed analysis of the market and an in-depth study on current trends, exploring its important factors.
According to the latest market research report, the global digital pet technology market is valued at US$1425.35 million in 2021, and it is expected to reach US$8037.85 million by 2030, growing at a CAGR of 21.91% over a forecast period of 2022-2030.
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Companion animals, such as dogs and cats, are kept for the safety of an individual, residence or business. These animals help maintain a safe atmosphere. Most people enjoy these animals because they give them a sense of belonging and companionship. In recent times, digital technologies such as telehealth, biosensors and wearable technologies are becoming more and more crucial for animal health management. The emergence of these digital technologies, along with advances in the Internet of Things (IoT) paradigm, have enabled rapid, real-time monitoring of companion animals.
The development of the global pet digital technologies market can be attributed to various factors, such as rapid adoption of digital technologies, high prevalence of zoonotic diseases and chronic animal diseases, growing need to maintain animal health pets. Rise in pet owners’ preference for telehealth services and rise in pet healthcare expenditures are also expected to rapidly drive the market throughout the forecast period. In addition to this, increasing government funding to improve animal health technologies, growing number of pet owners globally, and development of veterinary health information systems are further accelerating the growth of the market. Due to the restrictions related to the Covid-19 outbreak, pet owners are preferring to access virtual care services, thereby increasing the demand for the digital pet technology market. However, high service costs and lack of awareness of new digital technology for animals are expected to hamper the market growth in the future.
At the regional level, North America is expected to register the fastest growth over the estimated period, followed by the Asia Pacific due to rapid adoption of digital technologies, increase in pet ownership, and increased government support to prevent animal diseases.
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Key players operating in the digital pet technology market include AVID Identification Systems (USA), Datamars, Inc. (Switzerland), EIDAP Inc. (Canada), Findster (US), FitBark (US), Gibi Technologies (US), Link AKC (US), Loc8tor (UK), Marco Polo (USA), Microchip4Solutions Inc. (Canada), Nuzzle (US), PawPrint (UK), Pethealth Inc. (Canada), PetPace (US), PetSafe (US), Sure Petcare (SureFlap Ltd) (UK), Tractive (Austria), Trovan, Ltd. (Isle of Man), Whistle (Tagg) (USA), WUF (USA), Fuzzy – The Pet Parent Company (USA), 11 PETS LTD. (Spain), DogLog (US), Intervet Inc. (Merck & Co.) (US), Pawprint Inc. (UK), PetCare (US), PetDesk (US), V2P2 LLC ( United States), VetCheck (Australia), Virtual Recall (UK), VitusVet (US), Dogstar Life (US), Dogtra (US), EYENIMAL (US), Felcana (UK), FitBark (US) United States), Garmin International, Inc. (United States), GoPro (Fetch) (United States), Petriage (United States), i4C Innovations (India), INUPATHY, Inc. (Japan), Kyon (Greece), Milk line (Italy), PetPace (USA), Pitpatpet Ltd. (UK), Scollar, Inc. (USA), TekVet Technologies Co. (USA), Tractive (Austria), Whistle Labs (USA), among others.
Main market developments:
- In Jan 2022, Petriage – a pet health technology company, announced a partnership with the Link Smart Pet Wearable from Smart Tracking Technologies, LLC. Petriage intends to integrate real-time pet health information from its AI-based symptom analysis tool into Smart Tracking Technologies’ all-new Link Smart Pet Wearable Gadget in the framework of this agreement.
- In September 2021, PetSafe (USA), a global leader in pet product solutions recognized with two 2021 Independent Pet Innovation Awards for two PetSafe products. 1. ScoopFree Smart Self-Cleaning Litter Box. 2. Dancing dots laser cat toy.
- In March 2021, Fuzzy- The Pet Parent Company has received a new $18 million Series B funding round. The company plans to democratize access to pet care through pet parent education and virtual care alternatives. Fuzzy will use the new funding to expand its product offering and increase its staff over the coming months.
- In May 2020, Mars Petcare has launched digital Pet Health Pal, a new free digital education tool powered by Facebook messaging and the WhatsApp chatbot to support pet health and wellness.
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Global Pet Digital Technology Market, By service type2019-2030 (Value in US$ millions)
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- Platform marketplaces
Global Pet Digital Technology Market, By Type of animals2019-2030 (Value in US$ millions)
Global Pet Digital Technology Market, By Region2019-2030 (Value in US$ millions)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
North America Digital Pet Technology Market, By The country2019-2030 (Value in US$ millions)
Europe Pet Digital Technology Market, By The country2019-2030 (Value in US$ millions)
- Rest of Europe
Asia-Pacific Digital Pet Technology Market, By The country2019-2030 (Value in US$ millions)
- South Korea
- Australia & New Zealand
Latin America Pet Digital Technology Market, By The country2019-2030 (Value in US$ millions)
- Rest of Latin America
Middle East & Africa Digital Pet Technology Market, By The country2019-2030 (Value in US$ millions)
- GCC countries
- South Africa
- Rest of Middle East & Africa
Why buy this report:
- To analyze the detailed outlook of the Global Pet Digital Technology Market
- To gain insight into the industry and future trends of the Digital Pet Technology market
- To analyze digital pet technology market drivers and challenges
- For information on Digital Pet Technology Market value (in Million US$) forecast to 2030
- Significant Investments, Mergers, and Acquisitions in the Pet Digital Technology Market Industry
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Other related reports published by InsightAce Analytics:
Global Veterinary Digital Technology Market
Global animal microbiome market
Global sustainable animal feed market
Global CBD Pet Market
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