The pet tech industry is rapidly growing and gaining recognition as its own niche within the technological and innovation world. With pet tech devices, we are not referring to automatic feeders or fancy toys; the industry is presenting tech-savvy mobile applications and devices that not only make it easier for the pet owner to raise their pet but also strengthens their bond. Surprisingly, the pet tech industry has witnessed a major boom and is here to stay. In fact, it is predicted that pet owners will completely switch to the innovations made in the pet tech industry in the coming years.
Here is everything you should know about the pet tech industry and the secret to its success.
Increased Pet Adoption
More and more pet enthusiasts are adopting cats and dogs, especially after the pandemic struck, where people had to stay at home all day. The increased levels of anxiety and stress also influenced people to get a furry friend. It is believed that adopting a pet can decrease cortisol and blood pressure levels, and enhance the release of dopamine, serotonin, and oxytocin. In fact, the steady rise of adoption has also influenced the rapid trajectory of innovations in the pet tech industry over the past 4 to 5 years. As people are continuing to work from home, their increased affection for their pets is influencing them to invest in resources that can provide comfort and make lives easier for their pets.
Rise in Investments
The innovations in the pet tech industry have proven to be successful, which has increased the interest of investors and attracted more investments over the years. Certain pet tech products also stimulate pet activities and enhance brain function, which is necessary for your pet’s longevity. Food products and toys developed using AI and other tech innovations improve behavioral stimulus and cognitive function in pets, which is another reason. More and more investors are grabbing this opportunity. In fact, the pet tech industry witnessed a total investment of $520 million in 2018, where investors readily put in money for startups that developed dog walking apps and other products.
The integration of technology in pet products has led 57% of pet owners to believe that cutting edge innovation is the answer to their pet’s physical and mental wellbeing. So, which are the new innovation sectors and technological implications within the pet sector that we are referring to? Let’s take a look.
Pet-Sitting Apps and Services
Pet owners are no longer leaving their pets in daycare centers and are instead monitoring them through pet-sitting apps and services. By installing and using such applications, pet owners can easily schedule feeding time for their birds or send their dogs on a walk. The pet owner can monitor their cat or dog’s whereabouts by tracking their log activity throughout the day.
Wearable Activity Trackers
Just like humans can track their activity levels through wearable devices, pets, too, can be monitored with such trackers. These wearables track your pet’s sleep cycle, behavior, and level of activity throughout the day. GPS also allows owners to find their pets in case they go missing.
VIP (Very Important Pet)
These smart pet doors enable the maximum level of security for pets in their homes. Cases related to missing and stolen pets are a rising concern among owners. These doors are programmed by apps that are controlled by a chip called an RFID tag. It is attached to your pet’s collar and tracks their movement. This keeps them from escaping and prohibits strangers from entering your house.
Home Monitoring Devices and Systems
Monitoring devices are getting popular among pet owners as they can keep an eye on their furry friends even if they are not at home. With special features like aromatherapy and two-way video calls, your pet can stay calm and ward off separation anxiety in your absence. Products like food bowls and leashes are installed with cameras to monitor dogs and cats. The pet lovers at My Dog is a Robot recommend getting an AI-enabled food bowl for owners with two or more pets. It tracks your pet’s eating habits, specifically when you are not at home.
Microchips are an effective way to keep an eye on your pet. Even though GPS-enabled biometric trackers already exist, microchips are gaining popularity as they are not battery-powered
The future of this industry looks promising and is bound to grow with time. As more and more startups are emerging, we can expect new innovations within the industry. Adopting a pet has many perks, and with the new tech products and services, you can ensure that your pet is well taken care of.