A glance at the market of Pet Tech (2020-2025)
The link between human beings and animals dates back to thousands of years ago, but the ancients mostly cared for animals for the benefits gained from them. The relationship between human beings and animals has changed in recent years due to the change in the utilitarian view of humans towards animals. The concept of a pet also stems from this change in human perspective and the reluctance of the younger generation to raise children. If all these factors combined with technological improvements are considered, a potential market called Pet Tech will be formed.
Table of Contents
- Market / Industry segment of pet tech
- Influencing factors that changes market size of Pet tech
- Direct drivers:
- Reverse drivers:
- The market of Pet tech may also be threatened by following risks:
Market / Industry segment of pet tech
| Base Year | Market size(B$) | Duration(YEAR) | CAGR(%) | Source Name |
| 2018 | 4.5 | 7 | 24.00 | GMInsight |
| 2018 | 4.5 | 7 | 25.00 | PR news wire |
| 2018 | 4.5 | 7 | 25.00 | Menafn |
Influencing factors that changes market size of Pet tech
The size of the market value changes under the influence of many factors; the increase and decrease in the rate of these influential factors leads to changes in the value of the market size, which is provided by direct and reverse drivers in the market of pet tech
Direct drivers:
- Pet custody
- Awareness about pet health
- Urbanization and pet population
Reverse drivers:
- High costs of required services and equipment
- Lack of awareness of pet owners
Your startup has crossed Death Valley, and it has had at least 2 funding rounds? Discounted Cash Flows (DCF)
Your startup has had at least one funding round, you are advised to use Multiples method for valuation.
Your startup is at pre-seed and seed funding rounds, you are advised to use the Score Cards Method, Risk Factors Summation method to value your startup.
The market of Pet tech may also be threatened by following risks:
In all different markets and industries, risk is always one of the factors that business founders should be sufficiently aware of. The first step is risk assessment is identification of risks in the market in order to perform risk management. The market of pet tech may also be threatened by following risks:
- Manufacturing risk
- Funding risk
- Legislation risk
- Stage of business
