Wearable fitness trackers have become a popular go-to gadget for consumers, but they may be reaching a brand new audience.
The Wall Street Journal reported yesterday (Sept. 3) about the growing use of wearable health trackers for farm animals, specifically due to the fact that in the farming sector the health of animals can stand as the line in the sand between profit or loss.
“Traditionally, we used a cowboy on a horse for this job,” Chris Ragland, chief executive at agriculture business intelligence firm Animalytix, told WSJ.
Ragland is also a member of the Kansas City Health Investment Forum selection committee, which has witnessed an increased interest from Silicon Valley venture capitalists looking to break into the animal health sector.
At this year’s forum, held earlier this week, Ragland said 17 companies were chosen to present at the conference, out of the 39 animal health startups that submitted applications. Three of the businesses selected create health trackers for cows.
“I’m optimistic about these companies raising funding,” Ragland stated.
The health trackers are used to monitor and provide early detection for bovine respiratory disease and other ailments common in cows. According to Ragland, bovine respiratory disease currently holds the spot as the greatest financial drain on the beef industry.
“It’s tens of millions of dollars a year. There is really an economic interest here and an animal welfare interest,” he added.
While the animal health tracker market is just getting started, consumers demand for smart wearable technology products continues to grow.
Earlier this year, a report from market intelligence firm Tractica predicted that the 17 million units sold in 2013 will increase to 187.2 million units by 2020, resulting in a 34 percent growth rate for wearable devices.
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