Global Pet Companion Robots Market, By Type (Stationary Robots, Movable Robots), Application (Video recording and Monitoring, Pet Entertainment, Pet Feeding), Sales Channel (Direct Marketing, Indirect Marketing) - Industry Trends and Forecast to 2029
Market Analysis and Size
Pet companions are highly being deployed as they allow real pet owners for overcoming the problem of leaving their pet alone at home. Pet companion robots are widely being used as medical instruments to help old age people in maintaining standards of life, and also for entertainment purpose.
Global Pet Companion Robots Market was valued at USD 604.63 million in 2021 and is expected to reach USD 913.94 million by 2029, registering a CAGR of 5.30%during the forecast period of 2022-2029. “Video recording and Monitoring” accounts for the application segment in the respective market owing to the rise in adoption of mobile applications. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Market Definition
Pet companion robots are those which are made by using artificial intelligence and other technologies through which these robots can be used by the people as pets. Cats, dogs, birds among others are some of the common type of the pet companion robots. These pet companions have the ability to take photos, create videos and to play fetch among others. These robots can be controlled with the help of the mobile applications.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Stationary Robots, Movable Robots), Application (Video recording and Monitoring, Pet Entertainment, Pet Feeding), Sales Channel (Direct Marketing, Indirect Marketing)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA).
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Market Players Covered
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Pawbo Inc. (Taiwan), Pebby (US), SmartPaw (Singapore), Maneks plus doo (Slovenia), RobotShop inc. (Canada), Ageless Innovation LLC. (US), Sony Corporation. (Japan), and Kolony Robotic (Canada), among others
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Market Opportunities
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Pet Companion Robots Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers:
- Rise in Awareness
The rise in awareness regarding the use of pet companion robots to provide an apparent companionship for humans is one of the major factors driving the growth of pet companion robots market. The decline in prices of robots and are considered best fit for the old aged people and single children.
- Need for Companionship
The rise in demand for these software or hardware associated with the pet companion robots for acquiring companionship accelerate the market growth.
- Increase in Pet Owners
The increase in the number of pet owners across the globe further influence the market. These pet companion robots help real pet owners in overcoming problem of leaving their pet alone at home. These robots can be controlled remotely with the use of certain electronic gadgets, offering facility to entertain their pets from distance.
Additionally, rapid urbanization, change in lifestyle, surge in investments and increased consumer spending positively impact the pet companion robots market.
Opportunities
Furthermore, introduction of new technologies in robots, such as video surveillance extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, surge in investments will further expand the market.
Restraints/Challenges
On the other hand, high cost associated with the production and manufacturing is expected to obstruct market growth. Also, complexity associated with shipment and production of the product is projected to challenge the pet companion robots market in the forecast period of 2022-2029.
This pet companion robots market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on pet companion robots market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Covid-19 Impact on Pet Companion Robots Market
The COVID-19 has impacted pet companion robots market. The limited investment costs and lack of employees hampered sales and production of pet companion robots technology. However, government and market key players adopted new safety measures for developing the practices. The advancements in the technology escalated the sales rate of the hardware and software as it targeted the right audience. The increase in number of pet owners across the globe is expected to further drive the market growth in the post-pandemic scenario.
Recent Developments
- UBtech unveiled an advanced version of intelligent humanoid Walker service-robot in January’2020. The new technology makes day-to-day tasks at home easy.
Global Pet Companion Robots Market Scope and Market Size
The pet companion robots market is segmented on the basis of type, application and sales channel. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Stationary Robots
- Movable Robots
On the basis of type, the pet companion robots market is segmented into stationary robots and movable robots.
Application
- Video recording and Monitoring
- Pet Entertainment
- Pet Feeding
On the basis of application, the pet companion robots market is segmented into video recording and monitoring, pet entertainment and pet feeding.
Sales Channel
- Direct Marketing
- Indirect Marketing
On the basis of sales channel, the pet companion robots market is segmented into direct marketing and indirect marketing.
Pet Companion Robots Market Regional Analysis/Insights
The pet companion robots market is analysed and market size insights and trends are provided by country, type, application and sales channel as referenced above.
The countries covered in the pet companion robots market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA).
North America dominates the pet companion robots market because of the high awareness among population in the region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 because of the rise in disposable income in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Pet Companion Robots Market
The pet companion robots market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to pet companion robots market.
Some of the major players operating in the pet companion robots market are
- Pawbo Inc. (Taiwan)
- Pebby (US)
- SmartPaw (Singapore)
- Maneks plus doo (Slovenia)
- RobotShop inc. (Canada)
- Ageless Innovation LLC. (US)
- Sony Corporation. (Japan)
- Kolony Robotic (Canada)
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