Packaged Facts, a leading market research firm, estimates that US sales of Pet Tech products was $565 million in 2018. This amount is up 11% from 2017 and is expected to reach $1 billion by 2023.
Pet tech products remain a small part of the $4.9 billion pet durables market (toys, beds, collars, etc.) Specifically, it clocks in at about 11.5% of the larger category.
Full disclosure: we haven’t actually seen the Packaged Facts report on this. Priced at $3,995, the report is too expensive for our small company. However, these numbers were referenced in a Forbes article about the pet tech market.