According to the recent research report titled ‘Pet Tech Market Size By Product, By Application (Pet Healthcare, Pet Owner Convenience, Communication & Entertainment, Pet Safety), By End-Use (Household, Commercial), By Distribution Channel (Physical Pet Store, Online-Only Retailer, Physical Mass Merchant Store), Industry Analysis Report, Regional Outlook (, Growth Potential, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report, global pet tech market is anticipated to amass over USD 20 billion by the year 2025.
 

Rapid urbanization, rising disposable income, growing adoption of IoT-based products, and increasing acceptance of rescued pets by millennials are the key factors stimulating global pet tech market growth. Additionally, growing popularity of companion animals, mounting number of pet tech start-up firms, and rising cognizance regarding mental and physical well-being of pets are enhancing the overall market outlook.
 

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Surging demand from owners are encouraging key players to develop smart solutions that allow customers to remotely monitor their pets' activity and health data. For instance, Petcube offers a smart camera with voice control that gives additional pet surveillance and security.
 

Similarly, Felcana offers Felcana Serenity, a pet stress and anxiety detection and response system, that combines audio and vision sensor technology. It contains a pet webcam that uses comforting human voices to help with separation anxiety and can be managed via a smartphone app.
 

Pet collars are commonly used to monitor a pet's vital signs and activities. For instance, the PetPace collar has non-invasive sensors that track data like heart rate, respiration, calories, temperature, and activity levels. Soaring demand for such innovations is positively influencing global pet tech market development.
 

Coming to the negatives, high power consumption and short battery life, along with lack of public awareness and high cost of products are hindering the business expansion.
 

Geographically, Europe pet tech industry is projected to amass high returns during 2019-2025, attributable to growing acceptance of connected technologies to monitor the health of pets. Economies such as the UK, France, and Germany are expected to the key growth avenues in the upcoming years owing to rise in number of household pets in these countries.
 

Leading organizations influencing global pet tech market trends are Tianjin Smart Pets Technology Co. Ltd., SureFlap Ltd., Pod Trackers Pty Ltd., PetSmart Inc., PetPace LLC, Petnet Inc., Pawbo Inc., Nedap N.V., Mars Incorporated, Felcana, Actijoy Solution, CleverPet, and Dogtra.