According to a research report of IoT/M2M firm Berg Insight, over 300,000 pets were monitored via various IoT enabled tracking devices in North America and Europe at the end of 2015. If taken into account the 45% CAGR, this number is expected to touch a whopping figure of 2.8 million by 2021.
IoT enabled tracking devices keep pet owners at ease by allowing them to locate their pets without any hassle. In today’s time, various tracking solutions, including GPS-based systems for pets and VHF-based systems for hunting dogs, are quite popular in the market. The best part of these tracking devices is their sizes and weight. They are light-weight and easy to use, making it a cake-walk for the owners to put these devices on their pets.
These IoT enabled tracking devices allow them to monitor the real-time location of their pets. Many of them also come with accelerometer sensors, which help the pet owners to track daily activities, behavior and health trends of pets.
On an average, there are 160 million cats and 150 million dogs in North America and Europe, which means that the chances of growth in this trend are very high. A research report suggests that 65% households in North America and 32% households in Europe have at least one pet animal.
With the surge in the popularity of internet of things technology, the pet-tracking business is all set to touch all new heights in the next 4-5 years.