According to Fact.MR, a market research and competitive intelligence provider, the global smart pet feeder market is valued at US$ 198.3 million and is expected to grow at a high CAGR of 8% between 2022 and 2032. Major factors driving market growth include increased pet adoption, changing pet care trends, and the introduction of novel technologies in pet management.
The pandemic of COVID-19 facilitated the reconnection of people’s lives at home, particularly pet parents. It enabled pet owners to spend quality time with their pets while also providing them with the attention and care they require. For many, this was a blessing in disguise; however, with the world returning to normal and many people returning to work, it has raised concerns about pet parenting, particularly for those who adopted pets during lockdowns.
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When pet owners are not present at home, technology can help with issues like pet eating schedules. Since the end of lockdowns, there has been an increase in demand for smart pet feeders. Smart pet feeders allow pet parents to control and monitor their pet’s feeding schedule while they are away from home using their mobile phones. These smart devices also aid in providing the appropriate amount of feed at the appropriate time.
Key Segments of Smart Pet Feeder Industry Survey
- Smart Pet Feeder Market by Pet Type :
- Smart Pet Feeders for Dogs
- Smart Pet Feeders for Cats
- Others
- Smart Pet Feeder Market by Connectivity :
- Bluetooth
- Cellular
- Wi-Fi
- Others
- Smart Pet Feeder Market by Sales Channel :
- Online Sales Channels
- Company Websites
- e-Commerce Platforms
- Offline Sales Channels
- Hypermarkets/Supermarkets
- Modern Trade Stores
- Brand Stores
- Pet Care Stores
- Pet Care Clinics
- Smart Pet Feeder Market by Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
Key Takeaways from Market Study
- By pet type, the dogs segment is projected to provide an absolute $ opportunity of US$ 1 billion over the forecast period (2022-2032).
- Among the sales channels, online sales are anticipated to expand around 1.9X in market value and create an absolute $ opportunity of US$ 583.8 billion by 2032.
- Wi-Fi, as a connectivity type, is poised to create an absolute $ opportunity of US$ 966.1 million by 2032.
- Europe is set to hold around 33.5% of the global market share by 2032 and reach a market valuation of US$ 1.4 billion.
- North America is expected to provide an absolute dollar opportunity of US$ 480.3 billion by 2032-end.
Winning Strategy
Market participants are engaged in collaborations, funding, mergers, acquisitions, and new product launches to compete in the market. Additionally, companies are focusing on expanding their product portfolios for bringing pet care products to the masses, and a few market players are investing in innovative products for meeting the needs of niche consumer categories.
Moreover, collaboration with retail channels will remain a crucial strategy for manufacturers of smart pet feeders, as they would become aware of the needs of consumers, and, in turn, develop application-specific products.
