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Global smart shoes market is expected to register a healthy CAGR of 31.40% in the forecast period of 2019-2026

Global smart shoes market is expected to register a healthy CAGR of 31.40% in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017. This rise in market value can be attributed to the growing adoption of smart technologies for various consumer goods and their conceptualization in products.

Global Smart Shoes Market By Type (Athletic, Non-Athletic), Functionality (Step Counting, Positioning, Navigation, Auto-Tightening), End-User (Children, Young, Disabled Individuals, Adults, Old People), Distribution Channel (Online, Offline), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2026.

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Market Analysis: Global Smart Shoes Market

Global smart shoes market is expected to register a healthy CAGR of 31.40% in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017. This rise in market value can be attributed to the growing adoption of smart technologies for various consumer goods and their conceptualization in products.

Market Definition: Global Smart Shoes Market

Smart shoes are footwear equipped with various technological elements and connected to another device such as smartphone, or other smart devices. These footwear are equipped with special sensors which track and monitor the location data helping provide this data to connected smart devices which can be used for health, navigation and positional benefits.

Market Drivers:

  • Significant rise in the adoption of wearable products that are smart and technologically advanced; this factor is expected to propel the growth of the market
  • Availability of smart shoes specially designed for the elder population and their needs also drives the market growth
  • Increasing demand for these products from the healthcare industry is another factor boosting the growth of this market
  • Focus on undertaking programs that enhance the performance of individuals through consistent monitoring is expected to foster growth of the market

Market Restraints:

  • Larger costs associated with these products restricts the market growth
  • Lack of product awareness and adoption rate from the various emerging regions that are still untapped also hampers the market growth

Segmentation: Global Smart Shoes Market

By Type

  • Athletic
    • Smart Running Shoes
    • Smart Sports Shoes
  • Non-Athletic
    • Smart Walking Shoes

By Functionality

  • Step Counting
  • Positioning
  • Navigation
  • Auto-Tightening

By End-User

  • Children (12-17 Years)
  • Young (18-32 Years)
  • Disabled Individuals
  • Adults (33-50 Years)
  • Old People (Above 50 Years)

By Distribution Channel

  • Online
  • Offline
    • Retail Stores
    • Departmental Stores
    • Specialty Stores
    • Supermarket/Hypermarket

Key Developments in the Market:

  • In January 2019, PUMA SE announced the launch of self-lacing smart shoes aimed at competing with Nike’s own smart shoes. Puma’s shoes known as “Fi” will be connected with the app on the user’s smartphone and can be tightened or loosened upon swiping on the connected device
  • In January 2019, Nike, Inc. announced the launch of “Nike Adapt”, a platform designed for customizing the fit of their shoes by integrating a power-lacing system with an app, firmware and components in the Nike Adapt BB basketball shoe. Through the usage of this app, users can adjust or modify the levels of fit in their shoes and enhance the overall settings of shoe sensing based on their demands

Competitive Analysis:

Global smart shoes market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of smart shoes market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

New Business Strategies, Challenges & Policies are mentioned in Table of Content, Request Detailed TOC:https://www.databridgemarketresearch.com/toc?dbmr=global-smart-shoes-market

Key Market Competitors:

Few of the major competitors currently working in the global smart shoes market are Under Armour, Inc.; Boltt Sports Technologies; Xiaomi; Nike, Inc.; Li Ning (China) Sports Goods Co., Ltd.; PUMA SE; Ducere; ReTiSense Inc; Digitsole; Saltedventure inc.; Lechal; Sole Power, LLC; no new folk studio Inc.; TRAQshoes; Zhor-Tech; Intellinium among others.

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