The Future of Pet Care is Digital

In a world where digital solutions permeate every aspect of our lives, the pet care industry remains a largely untapped frontier for technological innovation. At GoChip, we believe the future of pet care is undeniably digital, and we are on a mission to lead this transformation.

A Market on the Rise

You may be aware that pets are big business, but probably don’t know how big. By 2028, this industry is estimated to be almost $300 billion, and the pet tech segment, currently valued at $8 billion, is projected to soar to $60 billion by 2030. Now ask yourself where that growth is going to come from. One part of the equation is simply that more people around the world are becoming pet guardians, but the second part is that guardianship is evolving.

This responsibility has evolved over time. Safety, nutrition, health, and play no longer mean keeping your cat indoors, having access to kibble and a water bowl, visiting the vet twice a year for vaccinations, and throwing the ball. These days, smart collars track activity, kitty litter changes colors to indicate health issues, dog doors allow selective entry, and toys play with your pet when you aren’t even home. You don’t need to leave your house if you want to consult a vet, and throwing a ball? How quaint!

This growth is driven by evolving guardian-animal relationships, technological innovations, and the increasing prevalence of online and connected pet care solutions. Guardians today see their pets as integral family members, driving demand for health, safety, and well-being products.

Bridging the Digital Divide

While humans have integrated passports, driver’s licenses, and digital wallets into one pocket-sized device, our pets have very little, if any, identification. Take the most obvious situation: If your dog was sitting on the street without a collar, how would someone identify it? But let’s go a step further with a few more scenarios: Imagine you have always dreamed of having a specific breed of cat or dog. Unless you go directly to the breeder, how do you know anything about the animal? And even if you do go to the breeder, once you're home, how can you access its lineage records aside from logging onto a website or referring to a few pieces of paper? The same is true for a vet. People spend thousands of dollars on care each year, but where are all those records? You have the receipts, you have the vaccine booklets, but you don't really have access to the records, just copies of them.

“Every company is a software company. You have to start thinking and operating like a digital company. It’s no longer just about procuring one solution and deploying one.” ~ Satya Nadella

This analog approach to pet identification is a glaring oversight. At GoChip, we envision a world where every animal has a permanent, unified digital identity. Our patent-pending microchip technology provides this identity, making it easily accessible via smartphones or Bluetooth scanners. This means that by linking data directly to the animal—their lineage, their vaccination history, their licensing and medical records, etc.—their story is Always Found? and easily accessible directly from your phone

Towards Integrated Pet Care

The future of pet care is not just digital but integrated. Our digital platform connects all stakeholders in an animal's life, thereby streamlining all aspects of pet care into one comprehensive service. This integration represents the next step in providing holistic and convenient care for pets. Think of it like building the digital infrastructure for pets. We are already working with vets, shelters, NGOs, governments, e-commerce companies, and breeder associations throughout the world and continue to grow our network every day. Our goal is not to compete with pet tech companies but rather to create infrastructure that can help power their products and solutions.

The Power of Data

The digital transformation of pet care is not just about convenience; it’s about unlocking valuable data insights. The companion animal segment of digital health was worth around $1.4 billion in 2021 and $8.3 billion by 2023, with a CAGR of nearly 22%. Organizations are eager to pay for these data insights, yet no unified platform currently exists to efficiently gather and analyze this data. GoChip is poised to fill this gap, providing a comprehensive platform that connects all stakeholders in the animal management ecosystem.

Data is not the new oil, authenticated data is.

Tracking and Customizing for Better Health

To enhance their pets’ lives, pet owners turn to technology—56% already own tech just for their pets. This includes wearables for tracking behavior, fitness apps, and even sensors in litter boxes. Moreover, many pet owners are investing in high-quality, customized diets to further improve health benefits. This trend underscores the increasing willingness to invest in pets’ medical and preventive care, ensuring they live longer, healthier lives. The problem is that all of these products and services operate in data silos. Does it have to be this way? We don’t think so.

Think of the experience you have when you log into a website using Google, Facebook, or LinkedIn. When you log in like this, you get convenience, and in exchange, the website collects a few data points about you. This is analogous to the experience we are building for guardians. If you use a cool smart collar for your husky, imagine being able to take some of that data and send it to an insurance provider along with your vet records. From the insurance company’s perspective, they are getting access to more data about your dog than they otherwise would have and therefore can offer you the best premium possible.

While smart collars and vet records already exist, the data is not directly tied to your animal and therefore the data is not authenticated. Data is not the new oil; authenticated data is. Anyone offering products and services to pet guardians needs to have access to good data in order to refine their products and services and ensure the best possible experience for their customers or clients.

Our Journey and Vision

Our journey began with tackling dog population management in India and Indonesia, where we’ve already invested over $1 million and partnered with many organizations. Our ultimate goal is to evolve GoChip into the world’s most comprehensive animal identity platform, setting new standards in animal care and management.

In places like India, where the dog population poses significant social and health challenges, digital solutions can make a profound difference. Only through coordinated efforts between NGOs, governments, and innovative technology has Goa successfully eliminated rabies. GoChip’s technology aims to replicate and expand such success stories globally, providing reliable, authenticated data that stakeholders can use to improve outcomes for animals and communities alike.

We are excited about the future of pet care and invite you to join us on this transformative journey. Together, we can ensure that our beloved pets are not left behind in the digital age. Stay tuned for more updates as we continue to innovate and lead the charge in revolutionizing the pet care industry.

Feel free to share your thoughts and join the conversation on how digital technology can enhance the lives of our pets, and don't forget to follow GoChip for more updates and insights into our journey and the exciting developments in pet tech!

With Gratitude,

AvK

Founder, GoChip