We at The Practice have written several times about the growing wearable tech market, exploring everything from Google Glass to the hottest health monitoring devices. But surprisingly, the latest wearable tech trend to have boomed this year, is for none other than our beloved dogs and cats.

That’s right, we too were intrigued to discover that this industry is booming, and predicted to fast become the next billion-dollar sector. If we think about how much we love our canine and feline friends, it’s understandable that this has become big business among pet owners, with 2013 figures showing just over $56 billion spent in the US and UK. Popular categories span health, cognition, fitness, and GPS tracking, ensuring dogs, cats, horses and even cows, are kept under a watchful eye.

One of the most successful devices currently on the market is FitBark, a tiny monitor weighing in at just 8g, which clips onto your dog’s collar. Marketed as the smallest in the world of its kind, it has received Kickstarter funding of over $80,000 to date, and an impressive 697 backers. It’s like the canine equivalent of the popular JawBone, tracking your dog’s fitness and activity levels, daily progress, sleep patterns, and you can use the data to compare with that of other dogs, and even your own. It’s particularly useful in the fact that you can also share all recorded information with your dog’s vet, ensuring optimum health. Best of all, it’s waterproof- clearly designed in anticipation for all those wet and messy outdoor moments! Similarly, there’s the activity monitor from tech company, Whistle, which works on pretty much the same basis, but with an added social element too; sharing options allow users to post data and goals to Facebook, Twitter, email and text message, and there’s even a newsfeed of the day which shows you and your pet’s images and status updates.

If, like us, you’ve ever tried to interpret your dog’s barks, there’s now a device that claims to read his or her mind! “No More Woof”, designed by Swedish team, The Nordic Society for Invention and Discovery, is a headset that allegedly translates your dog’s thoughts into words using EEG waves. It simply fits on your pet’s head while the wave technology sets about alerting hunger levels, mood, and anyone who might be close by, such as that pesky postman! But with a $65 price tag for a basic version that merely offers a three-word translation and up to $1200 for the “full-sentence” model, it’s a steep price to pay, although fun for the extremely curious pet-owners among us.

But without a doubt, one of the most practical investments we can make, and the area which we’re sure will continue to boom this year, is in GPS tracking, particularly for those of us who own cats of the elusive variety! Without resorting to invasive microchips, another viable option comes from US-based company, StickNFind, who have designed a wide range of stickable trackers you can place on your pet’s collar. Used in conjunction with your smartphone, the stickers work using long-range Bluetooth to enable owners to track and locate their missing animals. There’s also the clippable device, Trax, which claims to be accurate within 10 feet of your pet’s location. Successfully funded through Kickstarter early last year, its versatility, minute size and compatibility with a free iOS or Android app, has seen it making waves amongst the animal lovers community.

Have you invested your money on the latest devices for your pets? Do you think the industry might soon grow to become as successful as its human counterpart? We’d love to hear your thoughts, so please tweet to us @PracticeDigital and share your comments on our Facebook page.