United States Pet Tech Market Report and Forecast 2024-2032

United States Pet Tech Market Outlook

The United States pet tech market is expected to grow at a CAGR of 13.1% in the forecast period of 2024-2032.

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Key Trends in the Market

Pet tech also called pet technology refers to  the use of technology in the pet sector to enhance pet care along with their living conditions. This technology is used to enhance the wellbeing, health, surveillance, and safety of pets.

• The rising disposable income is likely to increase customer spending habits and allow pet owners to increase investment in intelligent and smart pet products like cameras, smart collars, feeders, toys, and fences. This is further expected to drive the United States pet tech market.

• With evolving technology, consumers are likely to track and monitor the everyday activity of their pets which is expected to boost the market demand for pet tech among consumers as it ensures their safety.

• The increase in adoption of rescue pets across the country by millennials coupled with the rising popularity of pets among people is further expected to push forward the market growth of pet tech during the forecast period.

Market Opportunities and Challenges

• The rising prevalence of pet illnesses is expected to influence pet owners to buy intelligent pet tech products and examine health issues like sleep and heart rate and breathing of their pet. This is expected to bolster opportunities for the United States pet tech market over the forecast period.

• Pet tech products are expected to help pet owners in attaining everyday activity goals to keep their pet’s fitness which is further expected to propel market growth in upcoming years.

• The high price of products along with low public awareness regarding the product among people is expected to hamper the market growth of pet tech.

Market Analysis

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Based on product, the market can be segmented into tracking equipment, monitoring equipment, entertainment equipment, and feeding equipment, among others. On the basis of verticals, the market is bifurcated into private and commercial. Based on the distribution channel, the market is divided into offline and online. At a regional level, the United States market is categorised into New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, and Far West.

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. The report gives a detailed analysis of the following key players in the United States pet tech market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans. 

• Garmin Ltd

• Softeq Development Corp.

• CleverPet, Inc.

• Dogtra Company

• Pawscout, Inc. 

• Others

Market Share by Source

The monitoring equipment and tracking equipment segments are expected to gain momentum in the United States pet tech market share due to the increasing frequency of lost pets which has enhanced the pet tracking devices demand. The increase in demand by owners to employ pet tech products to continuously track and monitor the live location of their pets is further supporting the growth of segments in the market during the forecast period.

Market Share by Distribution Channel

The online segment is expected to witness substantial growth in the United States pet tech market on account of growing interest in online shopping along with the surging number of people using online shopping platforms. Numerous consumers choose online stores for buying pet products like feeders, smart collars, harnesses, and cameras. This is further driving the segment growth in the market. With various attractive discounts and rewards offered by market players to consumers over e-commerce stores, the online segment is expected to grow in the market over the upcoming years.

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Competitive Landscape 

• Garmin Ltd manufactures products that feature quality engineering compelling designs and best value. It specialises in GPS technology built on innovation for use by various markets such as fitness, aviation, and tracking.

• Softeq Development Corp. offers early-stage innovation and ideation plus digital transformation business consulting. The company aims to deliver this under one roof on a global scale. It is built from the ground up to specialise in new product development along with research and development, tackling the most difficult problems in the tech sphere.

• Pawscout, Inc. provides affordable and modern products starting with the free Pawscout App for increasing pet safety. The company aims to build the world’s largest network for pet safety, fun, and well-being, empowering pet lovers and owners to cultivate safer and stronger neighbourhoods for pets through its modern, affordable, and lightweight tags for dogs and cats.

Other market players include CleverPet, Inc. and Dogtra Company among others. 

Key Highlights of the Report