North America Pet Tech Market to see 55% CAGR over 2019-2025

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Global Pet Tech Market to hit USD 20 billion by
2025 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Pet Tech Market

• Pet Tech Market was valued at over USD 4.5
  billion in 2018 and to reach USD 20 billion by
  2025. The increasing adoption of the IoT
  AI-enabled pet care solutions is a major factor
  propelling the pet tech market. The pet owners
  are moving toward sophisticated, flexible, and
  reliable solutions that will turn the manual
  tasks of feeding, healthcare, and cleaning litter
  tasks into automatic or monitored activities.
• For instance, in January 2018, Petcube announced
  the launch of its pet detection technology that
  uses machine learning and Artificial Intelligence
  (AI) to recognize, trigger record selfie videos,
  and initiate two-way video calls with pets. These
  technologies are also being widely adopted to
  track and analyze the facial expressions of pets
  to decide their interests and taste preferences.
  Several players are engaged in developing such
  advanced solutions that allow the owners to
  purchase products based on their pets
  preferences

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Continued...

• In 2018, pet wearables accounted for majority of
  the pet tech market share. Smart collars are the
  most widely adopted pet wearable technology owing
  to the rising technological advancements and
  innovations in product offerings of players.
  These devices are being integrated with modern
  technologies such as GPS tracking, Wi-Fi
  connectivity, and activity tracking monitoring.
  Some of the innovative products offered by
  players include Wi-Fi controlled PetSafe Smart
  Dog Trainer Collar, chew-proof Lupine Original
  Dog Collar, and GPS activity tracker Dog
  Collar-Link AKC. RAWR, Inc. is offering a smart
  collar with 4G LTE network connectivity, GPS
  tracking, Wi-Fi, and Bluetooth connectivity.
• The commercial adoption of pet technologies will
  grow rapidly, owing to the rise in demand for
  health monitoring fitness tracking solutions in
  cattle and farms. These intelligent technologies
  are being widely adopted to track, analyze, and
  monitor the fitness health of horses
  participating in a horse race, driving the
  commercial pet tech market growth. It helps in
  improving the performance and winning chances of
  horses during races and other competitions.

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U.S. pet tech market share, by product, 2018
2025 (USD Million)

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Continued...

• The North America pet tech market accounted for
  over 55 of the industry share and will witness
  steady growth owing to the rapid increase in the
  adoption of these solutions in the household
  segment. According to the North American Pet
  Health Insurance Association (NAPHIA), during the
  period 2017-18, around 68 of the U.S. households
  (85 million families) owned a pet (either a
  cat/dog).
• The pet owners in the region are spending heavily
  on the health fitness of their pets. It was
  also estimated that in 2017, the combined gross
  written premiums of pet health insurance in the
  region accounted to over USD 1.2 billion. The
  household pet ownership in the U.S. is witnessing
  a rapid growth, which is encouraging the pet care
  companies to offer their innovative solutions in
  the country, propelling the pet tech market
  growth.

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Continued...

• Key players operating in the pet tech market
  include CleverPet, Fitbark, Garmin Ltd., GoPro,
  IceRobotics, Konectera, Loc8tor, Motorola, Nedap
  N.V., Petcube, Inc., Petkit, Petnet Inc., PetPace
  LLC, Petrics, Scollar, Pod Trackers Pty Ltd.,
  Tractive, Whistle Labs LLC, and WOPET. These
  players are engaged in developing innovative
  solutions that will differentiate their offerings
  from other players and attract a large customer
  base.
• For instance, in September 2015, DOTT announced
  the launch of the Dott smart dog tag, a
  Bluetooth-based location tracker that can be
  attached to pets collar, providing tracking
  within a 350-foot radius range. This solution
  will replace the high-cost GPS tracker solutions
  due to its much smaller and lighter features.

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Table OF Content
Chapter 1. Methodology and Scope 1.1.
Definitions forecast parameters 1.1.1.
Definitions 1.1.2. Methodology and forecast
parameters 1.2. Data Sources 1.2.1.
Secondary 1.2.2. Primary Chapter 2. Executive
Summary 2.1. Pet tech industry 360 synopsis,
2015 2025 2.1.1. Business trends 2.1.2. Product
trends 2.1.3. Application trends 2.1.4. End-use
trends 2.1.5. Distribution channel trends 2.1.6.
Regional trends
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