Global Smart Shoe Market Report 2019: Market Analysis, Latest Trends, Growth, Demand, Manufacturers, Potential Markets, Revenue Share, Key Players, Segments, and Forecast 2020 – 2029
“Global Smart Shoes Market” is the title of an upcoming report in preparation by MarketResearch.biz. The research efforts were conducted with exhaustive primary and secondary research, analysis, and study and offers insights into various factors influencing market growth. To understand better, request a sample of the report and examine the various sections and design. The report is segmented based on of product type, application, end-user, distribution channel, and regions. The company profile section of the report offers detailed insights about the key market players along with their revenue growth and financials, key developments, future strategies, and market footprint.
Smart Shoes: Introduction
Smart shoes function on smart technology, and this type of footwear has been designed to be digitally connected to a user’s smartphone, to which a range of information can be gathered. Technological advancements have enabled incorporating traditional footwear with a range of features that enable a user to gain insights into various aspects of everyday life. Among some factors that are driving demand and adoption for smart shoes is rising awareness for health and wellbeing. These products are connected via Bluetooth and have inbuilt sensors to record distance covered on foot, calories burnt, and other health-related biometric data. Sensors in the shoe can be synchronized with Google Maps enables the user to access correct road directions. The alerts in smart shoes are sent to the user in the form of vibrations as well as onscreen to the connected smartphone.
Global Smart Shoes Market: Dynamics
Drivers: Increasing technological advancements in various sectors, including the footwear industry, is creating new and more lucrative opportunities in all markets. Rising awareness regarding health and wellbeing, and development of smart shoes is supporting growth of the overall shoe and footwear market. An increasing base of health-conscious individuals in countries around the world are focusing on leading healthy lifestyles, and many join the gymnasium, follow a strict diet routine, or participate in other fitness-related activities. In order to take fitness regimen to the next level, many health-conscious individuals have realized the benefits and advantages of maintaining a daily record of exercise activities, tracking progress, and other health-related parameters and aspects. Smart shoes help a user to maintain a record of the distance covered while running, walking, bicycling, and trekking, as well as the number of calories lost post a workout session. Other factors driving demand for smart shoes and footwear is availability of these products in trendy and attractive designs and colors. However, high cost and rapid innovation in a highly competitive market could restrain growth of the market to a certain extent.
Global Smart Shoes Market: Segment Analysis
Insights By Product Type:
The step-counting shoe segment among the type segments is projected to register highest revenue share over the forecast period. Demand for shoes with navigation feature is projected to witness significantly high growth during the forecast period.
Insights By Application:
The smart running shoe segment accounts for highest revenue share, and is expected to continue to maintain its dominance during the forecast period.
Insights By End-user:
The adult shoe segment continues to account for highest revenue share as compared to other end-user segments. Demand for smart shoes for children is also projected to register substantial growth during the forecast period.
Insights By Distribution channel:
Among the distribution channel segments, the online channel accounts for highest revenue share as compared to the offline segment. Significant increase in Internet penetration is expected to support growth of the online segment to a significant extent in the near future.
Global Smart Shoes Market: Region Analysis
The market in North America is projected to register highest revenue share among other regions in the global smart shoes market. High inclination towards health and fitness, coupled with presence of some leading players in countries in the region is projected to fuel market growth during the forecast period. The market in Asia Pacific is projected to register fastest CAGR during the forecast period, due to increasing urban population and rising adoption of healthy lifestyle and fitness wearables.
Global Smart Shoes Market Segmentation:
Segmentation by Type:
- Step Counting Shoes
- Navigation Shoes
Segmentation by Application:
- Smart Walking Shoes
- Smart Running Shoes
- Smart Sports Shoes
Segmentation by End-user:
- Older People
Segmentation by Distribution Channel:
Segmentation by Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Nike, Inc.
- 361 Degrees International Limited
- PUMA SE
- SolePower, LLC
- Li-Ning Company Limited
- Xiaomi Corporation Limited
- Adidas AG
- Salted Venture
- Under Armour, Inc.
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