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
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.
- 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
- 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
- Smart Running Shoes
- Smart Sports Shoes
- Smart Walking Shoes
- Step Counting
- Children (12-17 Years)
- Young (18-32 Years)
- Disabled Individuals
- Adults (33-50 Years)
- Old People (Above 50 Years)
By Distribution Channel
- Retail Stores
- Departmental Stores
- Specialty Stores
- North America
- Rest of Europe
- South Korea
- New Zealand
- Rest of Asia-Pacific
- South America
- Rest of South America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
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
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.
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.
Research Methodology: Global Smart Shoes Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, top to bottom analysis and vendor share analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Competitive analysis of key competitors involved in the market
- Complete analysis of market segmentation and which segments are set to flourish in the forecast period of 2019 to 2026
- Market drivers and restraints analysis along with the analysis of the market structure