Online sales of smart pet feeders will generate high revenue for industry players, according to Fact. M
Smart Pet Feeder Manufacturers Expected to Collaborate with Pet Food Suppliers and Veterinary Care Providers to Gain Greater Market Share
United States, Rockville MD, 08 Jul. 2022 (GLOBE NEWSWIRE) — The global smart pet feeder market is valued at US$198.3 million and is projected to grow at a high CAGR of 8% between 2022 and 2032, according to detailed industry analysis by Fact.MR, a market research and competitive intelligence provider. Global sales of smart pet feeders are expected to increase 7.8% CAGR to reach $419.2 million by the end of 2032. Rising adoption of pets, changing Pet care trends and the introduction of new technologies in pet management are the major factors driving the market growth. .
The COVID-19 pandemic has made it easier for people to reconnect their lives at home, especially pet parents. It has enabled pet owners to spend quality time with their pets and give them the attention and care they need. It was a blessing in disguise for many; however, with the world returning to a new normal and many people working, it has raised concerns about pet parenting, especially for those who have adopted pets during the lockdowns.
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Technology has come to the rescue for issues such as pet feeding schedules when pet owners are not present at home. An increase in demand for smart pet feeders has been seen since the shutdowns ended. Smart pet feeders allow parents to control and monitor their pet’s feeding schedule with their mobile phone, even when away from home. These smart devices also help deliver the right amount of food at the right time.
Several benefits offered by smart pet feeders are driving their demand growth across all regions.
Key insights from market research
By pet type, the dog segment is expected to provide an absolute dollar opportunity of US$1 billion over the forecast period (2022-2032).
Among sales channels, online sales are expected to grow approximately 1.9 times their market value and create an absolute dollar opportunity of $583.8 billion by 2032.
Wi-Fi, as a type of connectivity, is poised to create an absolute dollar opportunity of US$966.1 million by 2032.
Europe is expected to hold approximately 33.5% of the global market share by 2032 and reach a market valuation of US$1.4 billion.
North America is expected to offer an absolute dollar opportunity of US$480.3 billion by the end of 2032.
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Market players are engaged in collaborations, financings, mergers, acquisitions, and new product launches to compete in the market. Additionally, companies are focusing on expanding their product portfolios to bring pet care products to the masses, and a few market players are investing in innovative products to meet the needs of niche consumer categories.
Additionally, collaboration with retail channels will remain a crucial strategy for smart pet feeder manufacturers as they would become aware of consumer needs and in turn develop application-specific products.
DOGNESS Group, Dokoo, Faroro, Petkit, Radio Systems Corporation, Skymee, Sureflap Ltd., Sure Pet Care, Welltobe and Wopet are the leading suppliers of smart pet feeders.
Key segments of the Smart Pet Feeders industry survey
Smart Pet Feeders Market by Pet Type:
Smart Pet Feeders Market by Connectivity:
Smart Pet Feeders Market by Sales Channel:
Online sales channels
Offline sales channels
Smart Pet Feeders Market by Region:
South Asia and Oceania
Middle East and Africa
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Fact.MR, in its new offering, presents an unbiased analysis of the Smart Pet Feeders Market, showcasing historical market data (2017-2021) and forecast statistics for the period 2022-2032.
The study reveals key insights based on pet type (dogs, cats, others), connectivity (Bluetooth, cellular, Wi-Fi, others) and sales channel (online sales channels (websites) enterprise web, e-commerce platforms), offline sales channels (hypermarkets/supermarkets, modern trade stores, brand stores, pet stores, pet clinics)), in six major regions of the world (North America , Latin America, Europe, East Asia, South Asia and Oceania, and Middle East and Africa).
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