Smart Shoes Market

Smart Shoes Market Overview

The rapid digitalisation is bringing new technological advancement into the world. The smart shoe is enabled with smart technology that is connected to a mobile application. The smart shoe mobile application provides indication to the user when and where to turn in order to reach their final destination using google maps or any other map application.

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Major Smart Shoes Market Drivers

The increasing popularity of smart wearables and the growing trend of participating in various sports and fitness activities are the key drivers driving the growth of the global smart shoe market during the forecast period. Various multinational giants are mainly focusing on product innovation, such as the development of smart shoe with the enhanced comfort level, will attract a large number of consumers to opt for these shoes. For instance, Nike recently launched the innovative self-lacing HyperAdapt 1.0 shoes, with pressure sensors in the soles that sense when the foot is inside the shoes and allows automatic lacing. In addition to this, the increasing adoption of athleisure and fitness and the strong demand for sneakers will further complement the growing demand of the market. The smart shoes are equipped with sensors and Bluetooth controlled insoles, which are used to track the overall distance travelled by the user. They also predict the total calories burned in a day and other health-specific biometric data.

The consumers are becoming more aware of the exceptional benefits of walking, running, or doing any other physical activity, which in turn, will bring new customers into the market. They are shifting towards adopting a healthy lifestyle by going to the gym on a regular basis, following a strict diet pattern, and participating in other activities such as marathons and relay races. On the other hand, the high price of smart shoes is one of the major factor which will have a negative impact on the growing demand of the market in the coming years.

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Based on the product type, the market is segmented into smart walking shoes, smart running shoes, and smart sports shoes. Among these, the smart running shoes segment is projected to grow at a higher CAGR over the forecast period due to the increasing demand for smart shoes, which can track the distances covered, calories burned, and other health-specific data. The smart shoes offer the option of tracking the total distance covered in a day through an application which is connected to the user’s smartphone. Moreover, the launching of new innovative features in smart shoes will further attract customers towards this segment.

Based on the end user, the market is segmented into men and women. The Men segment is anticipated to lead the market over the forecast period. The rising trend of hitting to the gym and getting a muscular body is the key drivers encouraging the men population to purchase smart shoes. Moreover, the increasing social media campaigns focusing on numerous physical activities and encouraging people to participate in those activities will further drive the growth of this segment. The rising number of men who are passionate about sports and are trying to make a career or gain recognition in their field will have a positive impact on the demand of the market.

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Regional – Segment Analysis

Based on the region, the North America region is expected to grow at a higher CAGR during the forecast period due to the growing trend of wearable devices, especially across the U.S. With the increasing rate of obesity and disease, people have now started looking working out and following a healthy diet pattern. This fundamental shift will strengthen the growth of the market in this region. The Asia-Pacific region is anticipated to lead the market during the forecast period owing to the rapid increase in the millennial population and the growing trend of participating in health and fitness activities across the Asian countries. The rising influence of social media in the developing economy, such as India, followed by the growing penetration of smartphones and the internet will further accelerate the growth of the market in this region.

Top Market Players

Various notable players operating in the market, include Nike, Inc., Adidas Group, PUMA SE, Digitsole, Salted Co., Ltd., Pepper Gate Footwear Inc., Under Armour, Inc., Vivobarefoot, Xiaomi Mi Shoes, and Zhor-Tech, among others.

Key Developments:

• • In 2020, Adidas announced its collaboration with Google and EA to develop a smart shoe insole that connects to the user’s smartphone and can turn the kicks and movement on the soccer field into rewards in FIFA Mobile.
  • In 2019, Nike Inc. launched its new sneakers known as Adapt Huarache, in collaboration with Apple. The Huarache offers the option of connecting the smart shoes to Siri, have colourful LED lights, and the FitAdapt lacing system.
  • In 2019, PUMA SE launched its new Puma Fi Trainers with the feature of lace tightening just at a swipe of a finger. These shoes can be connected to the smartphones and operated through the application.

Segments covered in the Report:

The global Smart Shoe market has been segmented on the basis of product type, end user, distribution channel and region. Based on product type, the market is segmented into Smart Walking Shoes, Smart Running Shoes and Smart Sports Shoes. Based on the end user, the market is segmented into Men and Women. Based on distribution channel, the market is segmented into Supermarket/Hypermarket, Specialty Store and Online.

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Key questions answered in this research report:

• • At what pace is global Smart Shoe market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Smart Shoe market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Smart Shoe market?
  • Which product generated maximum revenues in 2019 and identify the most promising products during the forecast period?
  • What are the various end user of global Smart Shoe market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Product Type, By Distribution Channel, By End User, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Nike, Inc., Adidas Group, PUMA SE, Digitsole, Salted Co., Ltd., Pepper Gate Footwear Inc., Under Armour, Inc., Vivobarefoot, Xiaomi Mi Shoes, and Zhor-Tech; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Smart Shoe Market by Product Type

• • Services Smart Walking Shoes
  • Smart Running Shoes
  • Smart Sports Shoes

Global Smart Shoe Market by Distribution Channel

• • Supermarket/Hypermarket
  • Specialty Store
  • Online

Global Smart Shoe Market by End User

• • Men
  • Women

Global Smart Shoe Market by Region

• • North America Smart Shoe Market (Option 1: As a part of the free 25% customization)

    • North America Smart Shoe Market by Product Type
    • North America Smart Shoe Market by Distribution Channel
    • North America Smart Shoe Market by End User
    • United States of America (US) Smart Shoe Market All-Up
    • Canada Smart Shoe Market All-Up

  • Europe Smart Shoe Market (Option 2: As a part of the free 25% customization)

    • Europe Smart Shoe Market by Product Type
    • Europe Smart Shoe Market by Distribution Channel
    • Europe Smart Shoe Market by End User
    • United Kingdom (UK) Smart Shoe Market All-Up
    • Germany All-Up Smart Shoe Market All-Up
    • France Smart Shoe Market All-Up
    • Spain Smart Shoe Market All-Up
    • Rest of Europe Smart Shoe Market All-Up

  • Asia-Pacific Smart Shoe Market (Option 3: As a part of the free 25% customization)

    • Asia-Pacific Smart Shoe Market by Product Type
    • Asia-Pacific Smart Shoe Market by Distribution Channel
    • Asia-Pacific Smart Shoe Market by End User
    • China Smart Shoe Market All-Up
    • India Smart Shoe Market All-Up
    • Japan Smart Shoe Market All-Up
    • Rest of APAC Smart Shoe Market All-Up

  • RoW Smart Shoe Market (Option 4: As a part of the free 25% customization)

    • RoW Smart Shoe Market by Product Type
    • RoW Smart Shoe Market by Distribution Channel
    • RoW Smart Shoe Market by End User
    • Brazil Smart Shoe Market All-Up
    • South Africa Smart Shoe Market All-Up
    • Saudi Arabia Smart Shoe Market All-Up
    • UAE Smart Shoe Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Smart Shoe Market All-Up

Global Smart Shoe Leading Market Players (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Nike, Inc.
  • Adidas Group
  • PUMA SE
  • Digitsole
  • Salted Co., Ltd.
  • Pepper Gate Footwear Inc.
  • Under Armour, Inc.
  • Vivobarefoot
  • Xiaomi Mi Shoes
  • Zhor-Tech