The global pet daycare and lodging market is expected to post a CAGR of
over 8% during the period 2019-2023, according to the latest market
research report by Technavio.
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Technavio has published a new market research report on the global pet daycare and lodging market from 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the market is the growing popularity
of various pet daycare and lodging services. Pet owners have become
increasingly conscious of their pets’ wellbeing and safety due to the
growing culture of pet humanization which has increased the demand for
pet daycare and lodging services. The pet daycare and lodging services
include daycare, boarding, training, walking, playing, and grooming.
These services have been evolving, with vendors coming up with
innovative services to include a combination of veterinary services,
interactive activities for pets, multilevel pet condos, and outdoor pet
runs. Such services are provided for different durations, ranging from
overnight, a week, or even a month. Thus, the availability of several
kinds of services is expected to contribute significantly to the growth
of the global pet daycare and lodging market during the forecast period.
As per Technavio, the adoption of smart pet care products in daycare and
lodging services will have a positive impact on the market and will
contribute to its growth over the forecast period. This global
pet daycare and lodging market 2019-2023 research report
also analyzes other important trends and market drivers that will affect
market growth over 2019-2023.
Global pet daycare and lodging market: Adoption
of smart pet care products in daycare and lodging services
Currently, market competitors are investing in technologically advanced
products for their daycare and lodging services to attract more
customers. For instance, smart pet products are being introduced in the
market to attract affluent customers. For example, a pet health
technology company, launched a smart pet bed, an activity tracker, and a
pet health and nutrition application at a consumer electronics show.
These smart beds track pets’ weight, rest, and activity as well as offer
climate control, which will help pet owners ensure that their pets
achieve the required weight and temperature based on their breed, age,
and other characteristics. Moreover, these smart beds include a built-in
scale and incorporate thermostatic heating and cooling features to help
pet owners and service providers manually or automatically adjust the
temperature. Therefore, the use of such innovative and advanced products
will act as a market differentiator that will attract a lot of pet
lovers and convince them to rely on pet daycare and lodging services,
thus leading to the overall growth of the market.
“With people giving more importance to their pets, the desire for
improved pet care products and accessories such as pet furniture has
increased. The designs of pet furniture have evolved tremendously over
the past couple of years. Vendors in the market are engaging themselves
in exploring innovative ways to buy furniture that combines multiple
functions and styles to cater to the needs of pets besides providing
them with enough space to play around. The adoption of such products
will help to drive the growth of the market during the forecast period,” says
a senior analyst at Technavio.
Global pet daycare and lodging market:
This market research report segments the global pet daycare and lodging
market by type (dog daycare and lodging, combined daycare and lodging,
and cat daycare and lodging), and geographical regions (North America,
Europe, APAC, South America, and MEA).
North America led the market in 2018, followed by Europe, APAC, South
America, and MEA respectively. However, during the forecast period, the
APAC region is expected to register the highest incremental growth due
to the rise of different types of pet daycare and lodging services.
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- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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