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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