Pet Industry Startups Are Raising Large Funding Rounds: Here Is Why
The pet industry is transforming along with the preferences of pet owners. Modern pet owners want more than just high-quality pet supplies. Today, they seek human-grade pet care. Pet parents are accustomed to comfort and all things digital, so they expect the same for their domestic animals. That’s why modern pet owners invest in pet health monitoring devices and location-tracking gadgets. It’s also why veterinary telemedicine is gaining popularity.
Startups are emerging to meet the growing demand in the pet care industry. They use current technologies to develop effective and affordable Pet Tech products. Investors have also taken notice of the trend, and they are increasing funding in the pet IoT sector. This presents a great opportunity for startups in this sector to really shine.
Pet ownership in the US
66%The number of U.S. households that own a pet in 2022. This is 86.9 million homes.
Pet care spending
+100%In 2022-2030, pet owners are expected to increase their pet care spending from $136.8B to $277B.
Pet Tech market size
>$35BThe market is projected to increase by 7 times from 2022 to 2032.
Global Pet Tech funding
>$1BAfter the pandemic, Pet Tech funding has exceeded $1B per annum for two consecutive years.
Pet Tech Solutions in Focus
Case studies
Case Study
Mobile App, Admin Portal, and Firmware for a Smart Dog Collar
Smart Hardware Development
Softeq helps Pet Tech-focused companies convert their ideas and concepts into ready-to-use gadgets that meet the marketplace demands. Our experts offer full-cycle development services, from conception to sample production, seamless over-the-air upgrades, and assistance with mass production.
- Location and health tracking devices, including smart collars, smart harnesses, and smart cameras
- Smart pet product development: smart doors, feeders, litter boxes, feeders
- Prototyping, including circuit diagrams, PCB design and layout, 3D modeling
- Product pre-compliance tests and hardware tests on prototypes
Embedded Solutions for Pet Tech Ecosystem
We provide comprehensive IoT-based solutions to connect all the Pet Tech components – such as devices, location-based services, AI-empowered functionality, and beyond – and make them accessible through one central control point.
- Safety and location systems, featuring wireless network connectivity, pet wearable cameras, and video recording
- Integration of an embedded GPS real time location system and tags with GPS, BLE, and RFID technology
- Smart pet toys using light, sound, and treat dispensing for positive reinforcement
- Full-scale pet platforms: pet sitting software, pet rescue and adopting solutions, dog walking apps
Case Study
Smart Dog Collar
Case Study
Pet Care in the Age of Telehealth
Veterinary Telehealth
With hands-on experience in telehealth and remote patient monitoring, our engineers develop customized web and mobile solutions telemedicine platforms, veterinary clinics, and their customers – pets owners. We know how to enable convenient distant pet monitoring, securely store veterinary medical records, automate vet practice management workflows, and provide smooth communication between a pet owner and a practitioner.
- Vet telemedicine software development with an online vet appointment system, reminders, and patient communication
- Workflow management automation: appointment and scheduling management, clinical trials and diagnostics results storage, compliance with data security standards
- mHealth application development for pets
How Can We Help?
IoT in Pet Tech
Emerging startups and established tech companies have an equal chance for success in the Pet Tech IoT market. Migero becomes a reliable tech partner with our profound experience in developing smart IoT hardware and software for pets. We can assist you with the design, development, and integration of solutions for fully connected smart ecosystems. Migero offers solid analytical capabilities that will help you gain actionable insights and deliver smart pet tech products that will be in high demand.
AI in Pet Tech
Big data and AI can be applied to multiple areas of interest in Pet Tech solutions – pet recognition, Pet Tech gadgets, AI-powered laser toys, preventive veterinary telemedicine, and so on. Our specialists can analyze your business and determine which use cases will generate the best ROI. We can help you discern the most perspective direction and what new tech will drive profitability and help gain the market. Once you partner with an expert AI team, you will find the best way to integrate smart solutions into your Pet IoT project.
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