REPORT OBJECTIVES
The report Pet Tech : Global Market Intelligence ( 2023-2030 ) provides market intelligence on the different market segments, based on Product, End use, Application, Region, Company etc. Market size and forecast (2020-2030) has been provided in the report. The primary objectives of this report are to provide 1) comprehensive global market intelligence through detailed segmentation, 2) market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends, 3) detailed analysis of current dynamics and trends, key market players, and strategies in the market, 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants, 5) provide emerging opportunities in the market and the future impact of major drivers and restraints of the market and, 6) support decision makers in making cost-effective business decisions.

RESEARCH METHODOLOGY
In our market size and forecast determination efforts, an extensive secondary research was initially completed to gain a good perspective of the market in each region. Extensive primary research was also carried out by interviewing the key executives from the industry. These interviews helped us to fill-in the data gaps after secondary research. Several secondary sources such as encyclopedia, directories, and databases have been used to identify and collect information useful for this extensive techno-commercial study. The respondents – selected experts from manufacturers and selected suppliers – have been interviewed to obtain and verify critical information as well as to assess the future prospects. The usage of obtained information is based on the perceived reliability by the research team. In many cases, a combination of several sources was used. Sprout Intelligence provides an in-depth analysis of the market segmentation, which is a critical element of the market intelligence reports at Sprout Intelligence.

KEY AUDIENCE
Executives in marketing, strategic planning and new product development will find such discussions in our reports pertinent and useful. Management consultants, investment bankers, manufacturers, distributors, suppliers, and regulatory authorities are amongst our regular clientele served.

DATA SOURCES
The general data sources used in this report are company websites, trade association publications, regulatory authorities, journals, magazines, news websites, press releases, media publications, interaction with industry experts, company executives, research papers, articles, patents, scientific literature, among many others.

KEY FINDINGS FROM THE REPORT
• The Pet Tech market was valued at $4,765.2 Million in 2020, and is projected to reach $29,038.8 Million by 2030 growing at a CAGR of 22.46% from 2021 to 2030.
• Pet Wearables segment is expected to be the highest contributor to this market, with $2,073.9 Million in 2020, and is anticipated to reach $12,942.5 Million by 2030, registering a CAGR of 22.78%.
• Smart Pet Feeders segment is anticipated to reach $4,138.9 Million by 2030 with the highest CAGR of 23.03%.
• Pet Wearables and Smart Pet Feeders segments collectively expected to account for about 57.2% share of the Pet Tech market in 2020, with the former constituting around 43.5% share.
• Smart Pet Feeders and Smart Pet Fence segments are expected to witness significant growth rates at a CAGR of 23.03% and 22.98% respectively, during the forecast period.
• Presently, share of these two segments is estimated to be around 19.4% in the overall Pet Tech market in 2020, and is anticipated to reach 20.2% by 2030.
• The global pet tech market is experiencing substantial growth driven by the increasing humanization of pets and a growing awareness of pet health and well-being.
• Pet owners are increasingly seeking innovative solutions to enhance their pets' lives, resulting in a surge in demand for smart pet products.
• Opportunities abound for companies to capitalize on this trend by developing advanced technologies such as wearable devices, smart feeding solutions, and telehealth services for pets.
• As the market continues to evolve, businesses can seize the opportunity to cater to the expanding demographic of tech-savvy pet owners, creating a mutually beneficial ecosystem that prioritizes the overall care and companionship of our furry friends..