Excitement surrounding the Internet of Things (IoT) has been building for nearly a decade, but the time has come for a more connected world to truly take shape. According to a report by Adobe, the amount of Internet-connected things will reach 50 billion by 2020, offering profits and cost savings to the tune of $19 trillion (http://dtn.fm/7tNTM). Among this growth, smart devices within the home, such as thermostats and kitchen appliances, are expected to contribute about $490 billion by 2019, led by established names in the tech sector such as Google (NASDAQ: GOOG), which bought smart thermostat maker Nest in 2014 (http://dtn.fm/2B2lu), and Samsung (OTC: SSNLF), which acquired connected home company SmartThings (http://dtn.fm/4HDe2) later that same year.
Despite the strong performance of IoT in the consumer space, the primary destinations for smart devices are healthcare and manufacturing. By 2025, Adobe estimates that the value of IoT technology in the healthcare industry could exceed $2.5 trillion. While this is big news for players in the healthcare space, it also presents an opportunity for companies with innovative ideas operating in other sectors. One such company is OurPet’s Company (OTCQX: OPCO), a leading designer, producer and marketer of innovative pet products in the U.S. and overseas. Taking its cue from the success of IoT in the healthcare industry, OurPet’s recently introduced a new line of pet products that leverages Bluetooth and wireless connectivity to monitor various activities that can be interpreted as indicators of pet health.
OPCO’s Intelligent Pet Care™ product line includes three products designed to bring pet ownership into the 21st century, including the SmartScoop® – Intelligent Litter Box, the SmartLink™ Feeder – Intelligent Pet Bowl and the SmartLink™ Waterer – Intelligent Water Fountain. With these products, pet owners can monitor pets’ drinking, feeding and elimination behavior directly from their smartphones and other mobile devices. This feedback is critical, because irregularities regarding any of these behaviors can, in some cases, be a sign of potential health issues. In the case of excessive drinking, for example, dogs may be reacting to an accumulation of harmful substances in the body, which can be the result of infections, diabetes or kidney failure (http://dtn.fm/8Aj1F).
The benefits of IoT technology in the healthcare space have been clearly demonstrated by its widespread adoption in recent years. OPCO’s new Intelligent Pet Care™ product line opens the door for the roughly 65 percent of U.S. households that own a pet (http://dtn.fm/PER2o) to follow the healthcare industry’s lead while promoting the enhanced health and wellness of their furry family members.
“The pet industry is continually evolving and it’s our goal to introduce new products every year that improve the health, safety, comfort and enjoyment of pets, which in turn strengthens the bond between pet and pet parent,” Dr. Steven Tsengas, chairman and chief executive officer of OPCO, stated in a news release. “These [Intelligent Pet Care™] products enhance the convenience of pet ownership and the connectivity between pets and pet owners by monitoring various activities that can be interpreted as indicators of pet health, such as drinking, feeding and elimination behavior.”
For more information, visit the company’s website at www.ourpets.com
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