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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Europe Pet Tech Market Outlook
The Europe pet tech market is estimated to grow at a CAGR of 20.7% during the forecast period of 2024-2032 owing to the increased spending on pet animals.
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Growing Demand for Pet Tech in Germany to Aid the Market Growth
Germany is poised to hold a significant share of the Europe market for pet tech. The country witnessed a surge in the adoption of pets amid the COVID-19 pandemic, with the number of pet dogs witnessing an exponential growth compared to 2019. Medical diagnosis and health and well-being of pets are among the leading trends that encourage owners to adopt advanced solutions like pet wearables in the country. As a result, the leading market players are increasingly investing in the research and development of advanced products to meet the demands of tech-savvy customers and enhance their product range. For example, in October 2021, Halo Collar unveiled its latest innovation, the Halo 2 collar which is suitable for rough environments and can withstand dog bites and much more with the help of its pro-case. The advancements in technology are leading to the improved customer experience, which is likely to drive the Europe pet tech market further. Additionally, private "Tierheim" shelters are built in Germany to house abandoned animals. Grants, endowments, governmental agencies, and others help fund these shelters. The increased awareness of animal welfare and health is further anticipated to stimulate the adoption of innovative technology such as the smart leash and harness, thereby aiding the overall market growth.
Market Segmentation
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A pet is an animal that is kept primarily for the company or pleasure of its owner, rather than as a working animal. Pet owners consider their pets to be members of their family and are eager to invest in their health, fitness, and well-being. Companies whose core business is employing tech-enabled solutions to service the pet owner market are characterised as pet tech companies.
Based on technology, the market can be broadly categorised into:
- RFID
- GPS
- Sensors
- Others
By applications, the Europe pet tech market is divided into:
- Identification and Tracking
- Behaviour Monitoring and Control
- Safety and Security
- Medical Diagnosis and Treatment
- Others
On the basis of end uses, the market is bifurcated into:
- Household
- Commercial
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The regional markets for pet tech can be divided into the United Kingdom, Germany, Italy, and France, among others.
Rising Consumer Disposable Incomes Augmenting the Market Growth of Pet Tech in Europe
Rising disposable incomes of consumers and increasing awareness about pets’ physical and mental health are supporting the growth of the pet tech market in Europe. Consumer disposable incomes are likely to increase further as the country's economy continues to improve. This is expected to influence consumer buying habits, allowing pet owners to spend more money on smart pet products, including smart cameras, collars, and toys. The technology allows pet owners to ensure the safety of pets while tracking and monitoring their daily activities. Pet owners are focusing on health monitoring equipment to keep their animals healthy, which is driving the growth of the Europe pet tech market. Additionally, the growing prevalence of obesity among pets is further contributing to the demand for products to monitor health parameters like breathing and heart rate, among others. Moreover, the use of IoT enabled pet tech devices simplifies the process of collecting vital signs and location information. These devices are generally connected to smartphones or tablets via IoT connection and utilise wireless technologies like Bluetooth and Wireless LAN (WLAN) to make data available to pet owners via interactive dashboards. Over the forecast period, the rising number of pet owners is expected to further propel the market growth.
Key Players in the Europe Market for Pet Tech
The report gives a detailed analysis of the major players in the Europe pet tech market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Technology |
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| Breakup by Application |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
Europe Pet Tech Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The Europe pet tech market is projected to grow at a CAGR of 20.7% between 2024 and 2032.
The major drivers of the market include the investment in research and development activities, adoption of innovative technology, growing use of IoT devices, rising number of pet owners, and increasing demand for remote tracking.
Rising consumer disposable incomes and increasing awareness about pets’ physical and mental health are the key industry trends propelling the growth of the market.
The major regions in the industry are the United Kingdom, Germany, Italy, and France, among others.
Based on technology, the industry can be broadly categorised into RFID, GPS, and sensors, among others.
The major applications considered in the market report are identification and tracking, behaviour monitoring and control, safety and security, and medical diagnosis and treatment, among others.
The significant end uses of pet tech are household and commercial.
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