A Look at the Pet Tech Economy

In the last 15 years, annual spending on our pets has more than doubled – pet parents spent over $70 billion in 2017 alone as we look for new and improved ways to care for our pets. As new tech and IoT enters out human lives, pets are starting to get gadgets all their own.

The average American’s schedule is busy. On weekdays, we spend around eight hours at work, two hours on chores and housework, and nine hours on sleep and personal care. What little time we have left over is given to our family – pets included. Nearly 80% of Millennials and Baby Boomers consider their pets part of the family and we treat them as such by giving them the very best. Millennials are two times as likely to use tech to help keep track of their pets than other age demographics; almost 70% already do so. Additionally, 76% of millennials are more likely to splurge on their pets than they are on themselves. The outcome? A booming pet tech industry offering everything from automatic food bowls to two way pet cameras.

Pet tech covers the necessities with giving commonplace pet needs a makeover. Devices like the CatGenie litter box turns a stinky chore into a no brainer and gives your cat a reliably clean place to do its business. Self flushing and self cleaning, the “litter” inside is actually washable particles that are easy on the environment and the wallet. Dinner time gets an upgrade too with smart feeding bowls like the Petnet dish. This handy device uses sensitive technology to precisely weigh out the correct amount of food for any pet to ensure proper nutrition and avoid over or under feeding. Automatic laser pointers that are irresistible to any cat, electric fetch machines appealing to a dog’s favorite pastime, and even a dog-oriented gaming console also top the list for innovative pet tech.

We can’t put a price on the valuable time we get to spend with our pets – and new tech is making that quality time even more special. This infographic details the growing industry to pet tech, how it’s helping us care for our pets, improve their quality of life, and bringing us closer than ever before.

pet tech economy

Infographic Source: petxp