Nowadays, pets have gradually become an indispensable member of more and more families, and they continue to invest in their safety, health, and companionship, especially using digital smart products to ensure the quality of life and entertainment of pets. Under this trend, the "pet economy" has ushered in rapid development, and has led to the vigorous development of related smart pet equipment.
Furbo, a brand focusing on smart pet cameras, has become one of the leading brands in the field of smart pet equipment in recent years with its innovative technology and high-quality user experience. It is understood that Furbo dog camera uses AI technology to make it more and more intelligent. This product can be sold every 10 seconds on Amazon, and its sales volume ranks first in the pet camera category. With this, it has topped the BS list and has accumulated more than 20,000 comments.
PETKIT, a smart pet brand, has products covering all aspects of pets' eating, drinking, living, traveling, cleaning and playing. According to relevant data, by the end of 2022, PETKIT's annual sales have exceeded 1 billion, and its market valuation once exceeded 3 billion yuan. It has more than 1,000 offline stores, and its users cover more than 40 countries around the world, serving millions of pet-raising families.
From the above cases, it can be seen that the vigorous development of the "pet economy" has not only promoted the improvement and upgrading of the pet industry chain, but also brought unprecedented development opportunities to related companies.
PETKIT, a smart pet brand, has a product line covering all aspects of pets' eating, drinking, living, traveling, cleaning and playing. According to relevant data, by the end of 2022, PETKIT's annual sales have exceeded 1 billion, and its market valuation once exceeded 3 billion yuan. It has more than 1,000 offline stores, and its users cover more than 40 countries around the world, serving millions of pet-raising families.
From the above cases, it can be seen that the vigorous development of the "pet economy" has not only promoted the improvement and upgrading of the pet industry chain, but also brought unprecedented development opportunities to related companies.
Smart pet products are ushering in an explosive period, and the market size may reach 51.3 billion in 2024
In the industrial chain of the pet industry, it includes upstream pet breeding, trafficking and virtual pets, midstream pet products, mainly including pet food and its supplies, and downstream pet service markets, mainly including pet medical care, pet grooming, pet training, etc.
Among them, pet products cover a variety of products from daily pet care, cleaning to entertainment, toys, etc. These pet products have developed rapidly with the overall expansion of the pet industry and have become an important part of the pet industry chain.
In recent years, with the advancement of technology, the upgrading of consumer demand and the change of pet-raising concepts, smart pet-raising has ushered in a new era, pet products have ushered in an explosive period, and intelligent upgrading has also become a major trend in the pet products market.
In fact, in recent years, the sales of smart pet products have been very impressive, and consumption has been growing all the way. In this year's Double Eleven shopping spree, the pet category showed its strong purchasing power. According to Tmall's official data, during the entire Double Eleven period, a total of 9 pet brands had sales exceeding the 100 million yuan mark, and 1,340 pet brands doubled their sales year-on-year. Among them, smart pet-raising equipment brands won a great victory, with pet smart nest sales increasing by nearly 15,200% year-on-year, pet smart deodorizers increasing by 1,120% year-on-year, pet smart bowls increasing by more than 950% year-on-year, and smart cat litter boxes doubling year-on-year.
In addition, based on the data during previous promotions, during the 6.18 period in 2021, JD.com's pet smart hardware ushered in the first round of full-scale outbreak. In the first 15 minutes of the opening, the sales of pet smart hardware increased 10 times year-on-year. During the 6.18 period in 2022, pet smart hardware on the Tmall platform became one of the most popular choices for consumers, with a year-on-year growth of nearly 150%. Smart cat litter boxes, pet smart companion robots, and automatic feeders were selected as the top three pet smart products in recent years.
Moreover, it is understood that an electric smart cat toy on Tmall, depending on the function, starts at 49 yuan and the highest is more than 100 yuan, with a single store monthly sales of more than 5,000 units; an automatic feeder with a price of more than 300 yuan has a sales volume of more than 70,000 units, and sales within 24 hours exceed 300 units.
From the above data, it can be seen that the prevalence of the "smart pet raising" trend has promoted the personalized and diversified innovation and development of the pet products market. The intelligent application of various pet products has shown great potential and value in improving the efficiency and effectiveness of pet care, and can meet the diversified needs of different pets and pet owners.
According to the forecast of iResearch Consulting data, it is expected that the scale of China's pet market will reach 345.3 billion yuan in 2024, an increase of 5.8% over 2023. Among them, the scale of the pet products market will reach 51.3 billion yuan, accounting for about 15%.
What will be the next hit of smart pet products?
At present, thanks to the development and popularization of technologies such as artificial intelligence, the Internet of Things, big data, and sensors, traditional pet products have been provided with intelligent experiences. They not only meet the basic living needs of pets, but also enrich the interactive experience between pet owners and pets.
From smart monitoring equipment to smart feeding equipment, from smart pet wearable devices with positioning detection functions to smart pet robots with remote interaction functions, these high-quality and innovative smart pet products are gradually changing the way people keep pets. Which product will become the next hit?
1. Smart pet monitoring camera: Combining multiple functions such as video monitoring, remote interaction, and intelligent recognition, pet owners can remotely view the real-time status of their pets through mobile phone APPs, and can also communicate with their pets in real-time voice through cameras. Some cameras are even equipped with pet-playing functions, which can remotely control the camera to make sounds or start pet-playing mode through APPs, etc., which provides great convenience for pet owners.
2. Smart feeding equipment: Combining advanced technologies such as the Internet of Things and data analysis, it provides pets with more accurate and healthy feeding solutions. The device can automatically feed food according to the set time and quantity, or the user can remotely set and adjust the feeding plan through the mobile phone APP to ensure that the pet eats on time and in the right amount. In addition, some smart feeding devices are also equipped with smart sensors, which can monitor and record the amount and frequency of the pet's diet in real time, analyze and count the data, and send it to the owner's mobile phone through the APP to keep track of the pet's diet and health status at any time.
3. Smart pet wearable devices: including smart collars, smart dog tags, smart vests, etc. The sensor can monitor the pet's exercise volume, heart rate, sleep status and other data in real time; the built-in GPS or Beidou positioning module can track the pet's location information in real time; and the daily behavior of the pet, such as eating, sleeping, and activities, can be recorded and analyzed through artificial intelligence and other technologies to help the owner understand the pet's behavior habits and health status.
4. Smart pet robot: a high-tech product that integrates companionship, health monitoring, positioning tracking, smart feeding, and learning and growth, which can provide pet owners and pets with a more intelligent and convenient interactive experience. For example, the robot has functions such as voice interaction and expression recognition, and can interact with pets to provide companionship and entertainment; it also has deep learning capabilities, and can continuously learn and adapt to the needs and habits of pets through interaction with pets, etc.
This paper is from Ulink Media, Shenzhen, China, the organizer of IOTE EXPO (IoT Expo in China)
