South Korean and foreign related industries are currently developing pet care products and services targeting the so-called market for ‘petfam’, a newly coined word for families that raise pets. (image: E-Mart)
SEOUL, Oct. 4 (Korea Bizwire) — Advanced information and communication technology (ICT) for companion animals is spreading.
The Institute of Information and Communications Technology Planning and Evaluation (IITP) said in a recent report that with an increase in the development of devices and systems related to pets incorporating technologies based on the Fourth Industrial Revolution such as artificial intelligence (AI) and Internet of Things (IoT), a new market for ‘pet tech’ is emerging.
Pet tech is a compound word for pet and technology and refers to ICT for pets.
For example, new services can support pet care by remotely observing pets or automatically distributing food utilizing advanced technologies such as artificial intelligence, Internet of Things, and robots.
South Korean and foreign related industries are currently developing pet care products and services targeting the so-called market for ‘petfam’, a newly coined word for families that raise pets.
In the case of LG Uplus Corp., the company has launched a home CCTV service that allows owners to check and take care of companion animals alone at home via a smartphone.
Meanwhile, the number of patent applications that incorporate companion animal products and IoT technologies more than doubled from 28 in 2014 to 66 in 2018.
The main technologies are based on sensors that are worn by pets that can monitor health, emotion, and location as well as body temperature and exercise in real time.
Furthermore, adjustment of the residential environment such as temperature and humidity for pets that are left alone, and automatic provision of water and feed is also the main technology the industry is pushing for.
“As we are in the early stages of the market, we need to make efforts to secure market competitiveness with differentiated technologies that combine stability and quality as well as creative products and services that meet needs that are welcomed by our partners,” said the IITP.
D. M. Park (dmpark@koreabizwire.com)
