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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