According to Fact.MR, a provider of market research and competitive intelligence, the global pet companion robot market is projected to be valued at US$ 874.5 million in 2023. It is expected to grow at a robust CAGR of 12.3% during the forecast period, reaching a market valuation of US$ 2.8 billion by 2033.

A study conducted by Guide Dogs, a UK-based charity, revealed that 74% of dog owners reported their pets showing signs of mental health issues, including depression and anxiety. Furthermore, 18% of respondents observed these symptoms on a weekly basis.

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Pet companion robots are designed to monitor and capture moments of pets, rewarding them with treats. The growing awareness of pet wellness and health is a key driver behind the expansion of the pet companion robots market. Additionally, advancements in technology, such as autonomous driving and smart IoT sensors in pet sitter robots, are creating profitable opportunities for manufacturers in the pet companion robot industry.

Key Takeaways from Market Study

  • The global pet companion robot market is projected to expand at an impressive CAGR of 12.3% and be valued at US$ 2.8 billion by 2033.
  • The market witnessed 8.4% CAGR for the period of 2018-2022.
  • Under type, autonomous pet feeding robot is predicted to dominate the market and are estimated to be valued at US$ 571.6 million in 2023.
  • The U.S. is expected to dominate the market share in North America by likely accounting for 86.1% of its market share in 2023.
  • Pet feeding robot under application segment is likely to represent 41.5% market share in 2023.
  • Bluetooth connected pet companion robot in connectivity segment is predicted to have a market valuation of US$ 492.9 million in 2023.

“Rising Disposable Income & Pet Spending is Expected to Aid the Market Growth,” says a Fact.MR analyst.

Market Development

Companies are actively launching new pet companion robots equipped with advanced technologies. As more players enter the market, the pet companion robot industry is expected to experience significant growth in the near future.

Manufacturers are focusing on developing pet companion robots with cutting-edge AI technology, powerful speakers, and self-charging capabilities. Some companies are also creating multifunctional robots that serve both as pet companions and for other household tasks.

For example, the EBO robot by ENABOT is a companion robot that can interact with family members, children, the home, and pets. In May 2021, Samsung introduced its Bixby-enabled vacuum cleaner, which also functions as a pet sitter, utilizing advanced sensors and AI technology.

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Eminent Players

  • Anthouse Technology Ltd.
  • DTK Computer FZE
  • ENABOT
  • GURUIoT
  • Pebby
  • Pumpkii Inc
  • Rocki
  • Samsung
  • Skymee
  • VARRAM

Competitive Landscape

Robotic manufacturers are expanding their portfolios by entering the pet companion robot market. For example, in March 2021, Guru IoT, an IoT product developer from Korea, launched the PEDDY pet care robot. PEDDY helps alleviate pets' loneliness when left alone at home, monitors them to prevent accidents, and also provides food.

In September 2020, a group of engineers and pet enthusiasts introduced Pumpkii, a robotic companion with a modular design and multifunctional capabilities. This robot ensures entertainment, food, cleanliness, and companionship for pets, regardless of the owner's presence.

Fact.MR has provided comprehensive insights into the price points of key manufacturers of pet companion robots across regions, sales growth, production capacity, and anticipated technological advancements in its recently published report.

Segmentation of Pet Companion Robot Industry Research

  • By Type:
    • Autonomous
    • Remote Controlled
  • By Application:
    • Pet Entertainment
    • Pet Video Monitoring/ Recording
    • Pet Feeding
  • By Connectivity:
    • Wi-Fi
    • Bluetooth
  • By Sales Channel:
    • Online Sales
      • Company Owned Platform
      • e-Commerce Website
    • Offline Sales
      • Pet Stores
      • Franchised Stores
      • Independent Stores
      • Other Sales Channel
  • By Region:
    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • MEA

Read More: https://www.factmr.com/report/pet-companion-robot-market

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global pet companion robot market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.

The study reveals essential insights on the basis of type (autonomous, remote controlled), application (pet entertainment, pet video monitoring/ recording, pet feeding), connectivity (Wi-Fi, Bluetooth) sales channel (online sales (company owned platform, e-commerce website), offline sales (pet stores, franchised stores, independent stores, other sales channel)) across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and Middle East & Africa).

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