Europe Pet Tech Market: By Technology: RFID, GPS, Sensors, Others; By Application: Identification and Tracking, Behaviour Monitoring and Control, Safety and Security, Others; By End Use; Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics: SWOT Analysis; Competitive Landscape; Industry Events and Developments

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 2022-2027 owing to the increased spending on pet animals.

Growing Demand for Pet Tech in Germany to Aid the Market Growth

Germany is poised to hold a significant market share of the Europe pet tech industry. Medical diagnosis and treatment and fitness of pets are among the leading trends that encourage owners to adopt these solutions in the region. Hence, the companies are investing in research and development activities to enhance their product range and improve the overall customer experience. For example, in October 2021, Halo Collar launched the Halo 2 collar with better protection. The rugged collar is suitable for rough environments and can withstand dog bites, swimming in the ocean, loose branches, and much more with the help of its pro-case . The enhancement in technology is improving the overall customer experience, which is likely to drive the pet tech demand in the country. Private "Tierheim" shelters are being built in Germany to house abandoned animals. Grants, endowments, governmental agencies, and other organisations 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 vest, smart leash, and smart harness, thereby aiding the overall market growth.

Market Segmentation

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. This includes digital solutions for tracking, training, and connecting dogs.

Based on technology, the market can be broadly categorised into:

• RFID
• GPS
• Sensors
• Others

By applications, the industry 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

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 poised to drive the growth of the pet tech industry in Europe. Individuals' disposable income is 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 collars, cameras, feeds, fences, and toys. The technology allows pet owners to track and monitor their pets' daily activities, ensuring their safety. Pet owners are focusing on health monitoring equipment to keep their animals healthy. The growing prevalence of obesity is further encouraging pet owners to purchase intelligent pet tech products and monitor their health parameters such as breathing, sleep, and heart rate, among others. Pet tech products also support pet owners in achieving daily activity goals to maintain their pet's fitness. Furthermore, the growing use of IoT devices is boosting the pet tech market in the region since it simplifies the process of collecting vital signs and location information. Pet tech products are typically connected to smartphones, tablets, and laptops via IoT connection. It uses wireless technologies like Bluetooth and Wireless LAN (WLAN) to communicate crucial data to a central server, which is then made available to pet owners via interactive dashboards and reports. In addition, the rising number of pet owners is expected to further propel the industry growth over the forecast period.

Key Players in the Europe Pet Tech Market

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.

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.