Austrian pet tech company Tractive has won the GlobalPETS Forum Award, an accolade given to companies showing exceptional performance in the pet industry. Tractive was recognized for its innovative product development, customer focus, and market success. The company, founded in 2012, offers devices that provide wellness scores, activity and sleep monitoring, and predictive health alerts for pets, using AI and machine learning. With 1 million subscribers, 90% on a premium plan, Tractive's business model combines a physical device with a subscription service. Despite opportunities to diversify, Tractive has remained focused on pet GPS tracking, which has proven to be a successful strategy. The award was presented at the GlobalPETS Forum 2024 in Venice, Italy.

The GlobalPETS Forum, an annual conference for pet business professionals, took place in Venice from January 24 to 26. The event featured discussions on artificial intelligence, with Tractive, a GPS device company, being highlighted for its AI integration. Market insight firms such as Euromonitor, Similarweb, and Mintel presented data on industry trends, emphasizing the importance of health, nutrition, and sustainability. Retail strategies were discussed by CEOs from companies like Arcaplanet and Pet Network International, focusing on multichannel approaches and customer loyalty. The veterinary sector's competitiveness and the need for improved management and technology adoption were addressed by VetFamily's COO, Michael Thunell. Sustainability was also a key topic, with the Pet Sustainability Coalition underscoring the need for environmentally friendly practices in anticipation of stricter US regulations.