Global Smart Socks Market, By Product Type (Step Counting Socks, Speed Tracking Socks, Distance Tracking Socks), Category (Men, Women, Kids), Distribution Channel (Online Stores, Offline Stores) – Industry Trends and Forecast to 2029.
Smart Socks Market Analysis and Size
The smart socks detect rising distress in people with dementia, autism, and other communication disorders, allowing caregivers to intervene before things worsen. They monitor the wearer's heart rate, sweat levels, and motion to determine their overall health. Smart socks have a variety of sensors and can connect to different mobile devices. These smart socks may exert pressure on the legs' acupuncture sites and aid in promoting blood circulation. Smart socks may also hold onto water, keeping feet dry and fresh.
Data Bridge Market Research analyses that the smart socks market which is expected to undergo a CAGR of 8.00% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Smart Socks Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Step Counting Socks, Speed Tracking Socks, Distance Tracking Socks), Category (Men, Women, Kids), Distribution Channel (Online Stores, Offline Stores)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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Adidas AG (Germany), Nike Inc. (U.S.), Puma SE (Germany), Thai Socks Co. Ltd. (Thailand), ASICS Asia pte Ltd. (Singapore), Sensoria Inc. (U.S.), SIGVARIS (Switzerland), SIMCAN (India), 3M (U.S.), INTERSOCKS (Italy), Thorlos (U.S.), Hanesbrands Inc. (U.S.), Balega (U.S.), Drymax Technologies Inc. (U.S.), and Under Armour, Inc. (U.S.), Renfro LLC (U.S.), BSN HEALTHCARE PVT LTD.(Germany), Therafirm (U.S.)
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Market Opportunities
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Market Definition
The smart socks comfortably wraps around the baby’s foot to track oxygen levels, heart rate and sleep using clinically-proven pulse oximetry. The base station glows green to let you know everything is okay but notifies with lights and sounds if heart rate or oxygen levels leave preset zones. Socks are a pair of knitted or woven foot coverings to prevent shoes from rubbing against bare feet. A range of fabrics, including cotton, wool, nylon, acrylic, polyester, olefins, spandex, silk, bamboo, linen, cashmere, and mohair, are used to make them depending on the needs and weather. For instance, in cold climates, wool thermal socks are used to keep the foot warm and avoid frostbite. In addition, diabetic socks made with unique yarns reduce the abrasion and shear stresses on the skin, which is one of the symptoms of diabetes.
Global Smart Socks Market Dynamics
Drivers
- Rise in Product development
In 2018, Kickstarter, PBC has launched 10 designed socks under the brand. Also, in May 2018, United Legwear and Apparel Co., LLC, has launched 150 styles of men and women socks in their online portals.
The smart socks market is anticipated to increase as a result of product improvements in the injury areas of foot, product improvisation, and comfort for diabetes patients. The smart socks also include an antibacterial fabric with moisture evaporation properties. During the forecast period, it is anticipated that this aspect will promote the market for smart socks.
- Increasing demand of compression socks
Compression socks are usually worn by athletes during sports activities to boost oxygen supply and blood flow and reduce jarring, vibration, and stress to the muscles, and ultimately improve stamina and performance.
Aside from these factors, the market is expanding as a result of increased diabetes prevalence and growing public awareness about the impact of diabetes on patients' feet, which is also contributing to market growth. Furthermore, diabetic socks are becoming the preferred option because they improve blood circulation, keep the feet warm and dry, and reduce the risk of foot injury.
- Smart Socks for diabetic patients
Factors such as the growing diabetic population, both type 1 and type 2, are expected to drive the global smart socks market in the coming years. Aside from that, advancements in smart socks technologies for diabetic patients are expected to grow significantly in the coming years. These factors are drive the global smart socks market.
Opportunities
- Rise in health expenditure
An increase in expenditure on health and fitness is anticipated to drive up demand for various shoe accessories such as sports socks and ankle socks when people work out in gyms and health clubs. Over the past several years, numerous health care professionals have increased their spending on publishing various research papers on maintaining the healthy foot.
Restraints/Challenges
- Smart locks can be difficult to install
If you're not tech-savvy or have trouble setting up gadgets, a smart lock may be more frustrating than anything else. Even those marketed as "easy to install" can be a chore.
This smart socks market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the smart socks market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Smart Socks Market Scope
The smart socks market is segmented on the basis of product type, category and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Step Counting Socks
- Speed Tracking Socks
- Distance Tracking Socks
Category
- Men
- Women
- Kids
Distribution Channel
- Online Stores
- Offline Stores
Smart Socks Market Regional Analysis/Insights
The smart socks market is analysed and market size insights and trends are provided by country, product type, category and distribution channel as referenced above.
The countries covered in the smart socks market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the smart socks market due to the increasing factors such as the region's growing elderly population. Additionally, during the forecast period, rising use of technology-enabled smart socks advancement is creating new opportunities for domestic and international manufacturers.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 owing to the growing inventive and interdisciplinary technologies and products in this particular region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Smart Socks Market Share Analysis
The smart socks market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to smart socks market.
Some of the major players operating in the smart socks market are:
- Adidas AG (Germany)
- Nike Inc. (U.S.)
- Puma SE (Germany)
- Thai Socks Co. Ltd. (Thailand)
- ASICS Asia pte Ltd. (Singapore)
- Sensoria Inc. (U.S.)
- SIGVARIS (Switzerland)
- SIMCAN (India)
- 3M (U.S.)
- INTERSOCKS (Italy)
- Thorlos (U.S.)
- Hanesbrands Inc. (U.S.)
- Balega (U.S.)
- Drymax Technologies Inc. (U.S.)
- Under Armour, Inc. (U.S.)
- Renfro LLC (U.S.)
- BSN HEALTHCARE PVT LTD.(Germany)
- Therafirm (U.S.)
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