Global Smart Shoes Market, By Type (Athletic and Non-Athletic), Functionality (Activity Tracking, In-depth Run Tracking, Gait Tracking, Location Monitoring , Step Counting, Positioning, Navigation and Auto-Tightening), End-User (Children (12-17 Years), Young (18-32 Years), Disabled Individuals, Adults (33-50 Years) and Old People (Above 50 Years)), Distribution Channel (Online and Offline), Technology (Electronic, Mechanical, Electro-mechanical) – Industry Trends and Forecast to 2030.
Smart Shoes Market Analysis and Size
Smart devices usage is becoming more and more popular worldwide. With time, their home, TV, AC, refrigerator, and even mobile phone are becoming smarter. The smart shoes have many smart capabilities that work with your smartphone but have the exact same appearance as regular shoes. Manufacturers are now developing innovative smart running shoes to meet the consumer demands. The product is anticipated to gain more momentum among sports professionals and athletes, helping to increase the global smart shoes market growth.
Data Bridge Market Research analyses that the smart shoes market is expected to reach USD 819.59 million by 2030, which is USD 266.07 million in 2022, registering a CAGR of 15.10% during the forecast period of 2023 to 2030. 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 includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and consumer behaviour.
Smart Shoes Market Scope and Segmentation
Report Metric |
Details |
Forecast Period |
2023 to 2030 |
Base Year |
2022 |
Historic Years |
2021 (Customizable to 2015 - 2020) |
Quantitative Units |
Revenue in USD Million, Volumes in Units, Pricing in USD |
Segments Covered |
Type (Athletic and Non-Athletic), Functionality (Activity Tracking, In-depth Run Tracking, Gait Tracking, Location Monitoring , Step Counting, Positioning, Navigation and Auto-Tightening), End-User (Children (12-17 Years), Young (18-32 Years), Disabled Individuals, Adults (33-50 Years) and Old People (Above 50 Years)), Distribution Channel (Online and Offline), Technology (Electronic Smart Shoes, Mechanical Smart Shoes, Electro-mechanical Smart Shoes) |
Countries Covered |
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 |
Market Players Covered |
Nike, Inc. (U.S.), Puma SE (Germany), Adidas AG (Germany), Bata Brand (India), Honeywell International Inc. (U.S.), New Balance (U.K.), ELTEN GmbH (Germany), Uvex group (Germany), Xiaomi (China), Oftenrich Holdings Co. Ltd. (U.S.), Wolverine World Wide Inc. (U.S.), Hewat's Edinburgh (U.K.), W. L. Gore & Associates, Inc. (U.S.), Sunflower Industrial Group Co.,Ltd (China), HILLSON FOOTWEAR PVT. LTD (India) |
Market Opportunities |
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Market Definition
Smart shoes refer to a smart technology shoes worn to deliver enhanced comfort and protection while running, walking, and performing physical activities. They are embedded with electrical systems, microchips, pressure sensors, a battery, and monitoring navigation and positioning. They are also digitally connected to smartphone applications. Smart shoes are frequently used to collect exact data and offer individualized feedback for analysing fatigue, health, steps, calories, and posture. They are frequently offered in a huge selection of hues, sizes, and patterns that can even be customised with images. Smart shoes differ from conventional footwear in that they feature pressure sensors for performance tracking and gait analysis, as well as inertial-magnetic measurement units for gait analysis.
Global Smart Shoes Market Dynamics
Drivers
- Increasing participation of consumers in sports activities
According to the athleisure trend, consumers are increasingly choosing designer smart shoes that incorporates components of sports design. Moreover, the ongoing consumer shift towards more active lifestyles is increasing the demand of the smart shoes for cycling and running footwear globally. Jogging, aerobics, swimming, and yoga are just a few of the sports and fitness activities that are becoming more and more popular, which will open up a lot of potential for market participants in the athletic footwear industry worldwide.
- Growing awareness among consumers regarding advantages of walking and running
Rising awareness among consumers regarding the advantages of running and walking with respect to fitness and health is expected to increase the demand for running smart shoes. As a result, the manufacturers mainly focus on introducing smart running shoes in the market with advanced features that help stride, track cadence, and help the users improve their form.
Opportunities
- Surging product launches for the introduction of more comfort and flexible smart shoes
The surging product launches and other innovations by market players will provide numerous growth opportunities in the market. For instance, the main version of surround technology has been released on the market by W.L. Gore & Associates, Inc. This surround technology in hiking and trekking shoes uses GORE-TEX laminates that are incorporated into the shoe upper to cover the foot from all sides and ventilate the sides of the shoes to release heat and moisture.
- Increasing participation of females in sports
Rising participation and popularity of various female sports stars across numerous international games and championships, such as International Women's Cricket, Olympic Games, and Grand Slam Tournaments, has augmented the demand for smart wearable products such as smart shoes. Therefore, increasing female participation in these fitness and sporting activities will be expected to create lucrative market growth opportunities.
Restraints/ Challenges
- High cost of smart shoes
The high cost of smart shoes is a major factor expected to hamper the market growth. Technology is too expensive, so smart shoes must also be pricey to sustain in the global market. As a result, luxury brands set the high price of these shoes which is limiting the adoption of smart shoes among the general public.
- Dearth of awareness regarding smart shoes in underdeveloped countries
The dearth of understanding regarding smart shoes such as health benefits among consumers in underdeveloped countries, is expected to hamper the market growth. As a result, the acceptance rate of these shoes in underdeveloped countries is very low, which might further challenge the market's growth in the near future.
This smart shoes 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 shoes market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments
- In 2019, Nike Inc. launched its second smart shoe, Nike Adapt BB. This shoe includes a lace-less feature which allowing advance power-lacing system and frequently updated firmware featured as the new Nike Adapt Basketball shoe. The aim of this launch is to provide comfort and fitness with the use of power lacing through an app.
- In 2019, Xiaomi announced the introduction of its new water resistant product named Mijia Smart Shoes with a built-in Intel Curie chip processor. This product can distinguish between climbing, running, and walking and showcase the total calories burned through the Mi Fit App.
Global Smart Shoes Market Scope
The smart shoes market is segmented on the basis of type, functionality, end-user, distribution channel, and technology. 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.
Type
- Athletic
- Non-Athletic
Functionality
- Activity Tracking
- In-depth Run Tracking
- Gait Tracking
- Location Monitoring
- Step Counting
- Positioning
- Navigation
- Auto-Tightening
End-User
- Children (12-17 Years)
- Young (18-32 Years)
- Disabled Individuals
- Adults (33-50 Years)
- Old People (Above 50 Years)
Distribution Channel
- Online
- Offline
- Supermarket/Hypermarket
- Specialty Store
Technology
- Electronic
- Mechanical
- Electro-mechanical
Smart Shoes Market Regional Analysis/Insights
The smart shoes market is analyzed and market size insights and trends are provided by country, type, functionality, end-user, distribution channel, and technology as referenced above.
The countries covered in the smart shoes 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 shoes market owing to the increasing need for smart shoes in offline and online channels in this region. Moreover, the growing consumer inclination toward healthy lifestyle and fitness will further increase the market growth in this region.
Asia-Pacific is expected to be the fastest developing region during the forecast period of 2023-2030 due to the increasing urban population and growing acceptance of fitness activities in this region. Furthermore, the rapid growth of the fitness industry, implying augmented investment on body exercising products, further increases the market growth in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact 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 Shoes Market Share Analysis
The smart shoes 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 shoes market.
Some of the major players operating in the smart shoes market are:
- Nike, Inc. (U.S.)
- Puma SE (Germany)
- Adidas AG (Germany)
- Bata Brand (India)
- Honeywell International Inc. (U.S.)
- New Balance (U.K.)
- ELTEN GmbH (Germany)
- Uvex group (Germany)
- Xiaomi (China)
- Oftenrich Holdings Co. Ltd. (U.S.)
- Wolverine World Wide Inc. (U.S.)
- Hewat's Edinburgh (U.K.)
- W. L. Gore & Associates, Inc. (U.S.)
- Sunflower Industrial Group Co.,Ltd (China)
- HILLSON FOOTWEAR PVT. LTD (India)
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