Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
Market Trends
Introductory Overview
Microchip pet feeder is a smart pet feeder that recognizes the microchip or an RFID tag embedded in pets such as cats or dogs and monitors their eating habits. The microchip pet feeder opens for only those pets that are wearing a microchip enabled RFID collar tag. A single pet feeder could permit registration for up to 32 pets. Moreover, pet owners would be able to control and measure the consumption of food, decide the accurate portion size to be provided and analyze the eating behavior of pets. This device indicates to the pet owner about any changes in the behavioural patterns of pets such as appetite loss or illness on the basis of analysis of food consumption.
Market Size and Forecast
The microchip pet feeder connect market is estimated to record a modest growth over the forecast period (2020-2027). This can be attributable to several factors that are generating the demand for this product such as ensuring adequate food supply to pets. Pet owners with more than one pet just have to insert a microchip RFID tag on the collar to ensure that each pet would have access to food expected to be consumed by them every day. It has automated open system for when the pet arrives and lock system for after it finishes consuming the food.
Growth Drivers
Growing Preferences For Use Of Smart Devices & Digital Technology
There is a surge in the number of smart device users across the globe who are showing increased preferences towards managing their daily activities with comfort and ease such as by using mobile apps for operating their daily activities. The advancements in digital technology have provided adequate opportunities for managing domestic tasks through the click of an app of a smartphone. There is a notable increase in the number of pet owners using virtual assistants with voice activation for enabling pet feeders. Smartphones provide several additional features and notifications regarding pet care and food that must be consumed by pets in order to ensure a healthy life. Additionally, changing cultures among individuals that is increasing the number of pets owned by them is another factor estimated to boost the market growth.
Higher Disposable Incomes & Increasing Demand For Healthy Foods
The rising disposable incomes among the global millennial population accompanied by increasing shift towards healthier food habits among them as well as their pets are some factors anticipated to drive the growth of the market over the forecast period.
Lack Of Sufficient Time Due To Hectic Lifestyle And The Improved Retail Distribution Channel
Increasing prevalence of urban lifestyles and burden of work pressure faced by individuals at workplace have drastically reduced the time available for taking care of pets. On account of such factors, pet grooming, pet care and many other services are becoming increasingly popular globally which is anticipated to drive the demand for pet feeders over the forecast period. CLICK TO DOWNLOAD FREE SAMPLE
Restraints
Although, microchip pet feeder permits access to only the authorized pet towards the food bowl and prevents access to other animals, it is complicated as far as its use is concerned which might create a hurdle for the user if not operated properly, thus limiting the demand for such pet feeders. Apart from this, pet feeders have a low battery life. Moreover, bigger pets may not be able to have access to such food bowls. These factors are estimated to hinder the progress of microchip pet feeder market during the forecast period.
Market Segmentation
Our in-depth analysis of the global microchip pet feeder connect market includes the following segments:
By Material
By Distribution Channel
By Region
On the basis of regional analysis, the microchip pet feeder connect market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
North American region is predicted to occupy the largest market share, owing to increasing awareness among the general population about pet feeders and various technological and product development initiatives undertaken by market players in the region. Besides, the rise in the working population and rapid urbanization has led to the rise in demand among the general population to adopt microchip pet feeders in order to save time and also ensure their pets are being served with accurate portions of food and at the appropriate time in order to ensure the health and well-being of their pets.
The global microchip pet feeder connect market is further classified on the basis of region as follows:
Competitive Landscape
Currently, SureFlap is the only market player for microchip pet feeder connect market as the technology is new and developing. The microchip pet feeder connect monitors the quantity as well as the frequency of food consumed by pets by identifying the pet’s RFID collar tag.
Apart from this, several other companies are trying to incorporate this technology into their pet feeders and increase the consumer base for this market. The major companies providing automatic pet feeders include Petnet, Intervet, Winoe Corporation, QPets, Vet Innovations, Nerd Techy, Petcube, Pet Mate Ltd. and Radio Systems Corporation.
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