According to Goldstein Research, “Rising pet ownership across the globe and expenditures over pets is increasing the consumer’s interest towards smart devices to take care of their pets." Pet companion robots are introduced to take care of pets in the absence of their owners. Smart robots can play and feed the pets according to the owners. Companion robots are becoming popular among pet lovers and the major demand is growing in developed countries such as Canada, United States, Taiwan and Singapore.
The global pet companion market is segmented based on products and by applications. Products segment further bifurcated into stationary and movable robots. Movable robots are expected to dominate the market owing to their wide applications to assist pets and owners. Movable robots are anticipated to acquire more than 60% market share over the forecast period.
Pet companion robots are just started to enter the market and are anticipated to gain huge traction over the forecast period of 2016-2024. Further, the pet companion robots market is expected to surpass USD 800 million by 2024.
North America is the largest region for pet companion robots market in 2016 and is expected to maintain its dominance in market during the forecast period. United States is expected to dominate the pet companion robots market owing to rising pet ownership in U.S. with more than 60 million pet ownership in the region and around USD 40 billion expenditure over pet care.
Impactful Applications is Gaining Pet Lovers Interest
Pet companion robots are addressing the woes of pet owners having to leave their pet alone at home. They are allowing their owners to control the device from large distance and helping them to interact with their pets, through their mobile phone. Therefore, pet companion robots are essentially a bridge for pet owners and their pets to connect. Over the years, companies are emphasized in marketing pet companion robots as a smart interactive entertainment gadget for pets. The second involves the video surveillance, where these robots could be used as home security systems, monitoring on the house and kids.
“Global Pet Companion Robots Market Outlook 2024” contains detailed overview of the global pet companion robots market in terms of market segmentation by product type and by application type.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
Global Pet Companion Robots Market Report also provides competitive outlook of some of the major players which includes profiling of companies such as Sego Robotics, Anthouse Technology Ltd., Pawly, SmartPAw, Sybo Tech, Pawbo etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global pet companion robots market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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