Smart Shoes Market
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Smart Shoes Market Size, Share & Analysis By Type (Smart Walking Shoes, Smart Running Shoes, and Smart Sports Shoes), By Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Stores, Others), By End-Use (Adults, Children, Senior Citizens), By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa), and Growth Forecast To 2032
Report ID: RV85745 | Published: Feb 2024 | Historical Period: 2018-2022 | Pages: 190 | Price: $3260| Industry: Consumer Goods
Smart Shoes Market Overview 2024:
The smart shoes market size was USD 310 Million in 2023 and is expected to register a significant revenue CAGR of 14% during the forecast period. Key factors such as rising awareness about fitness and healthy lifestyle, rapid advancements in sensor technologies, and increasing integration of smart devices are expected to drive global market growth between 2024 and 2032.
Smart shoes, also called intelligent shoes or computer-based shoes are currently the most trending wearable devices, capable of recording real time activities of the user. These shoes are equipped with various sensors, smart insoles, GPS, wireless systems, vibrating motors, LED lights, and other systems that help in health monitoring, fitness tracking, and interactive applications.
Smart shoes analyze running styles and impact and measure strain and balance. The data collected helps to prevent running injuries and boost overall performance. These shoes are rapidly gaining traction over traditional footwear among fitness enthusiasts, tech enthusiasts, health-conscious individuals, navigation and travel users, patients, fashion and tech integration enthusiasts, and elderly people.
However, the cost associated with the manufacturing and development of smart shoes is pretty high due to the presence of advanced sensors and connectivity features. This can limit the widespread adoption of smart shoes among people with budget constraints. Another issue with these shoes is its durability and maintenance.
Graphical Overview:
Key Takeaways:
Increasing Investments in Wearable Technology and Changing Fashion Trends:
People across the globe are steadily realizing the importance of a healthy lifestyle and are focusing on regular workouts and exercises. This has resulted in increasing adoption of wearable technology, leading to growing demand for smart shoes. Moreover, changing fashion trends among consumers has encouraged tech companies and fashion brands to develop stylish smart shoes.
Privacy Concerns and Limited Battery Life:
Though smart shoes are steadily gaining traction, limited battery life, and privacy concerns regarding data security and transmission of personal data can hamper the overall market growth to a certain extent during the forecast period. In addition, many of these are not compatible with every operating system. This can restrain global market growth going ahead.
Type Outlook:
Based on type, the global market is segmented into smart walking shoes, smart running shoes, and smart sports shoes. Among these, the smart running shoes segment is expected to register rapid revenue CAGR over the forecast period. This can be attributed to rising number of health-conscious populace, increasing public involvement in activities like running and jogging, and high preference for smart running shoes for performance tracking, biometric monitoring, gait analysis, real-time feedback, style, and comfort.
End Use Outlook:
Based on end users, the global market is segmented into adults, children, and senior citizens. The adults segment is expected to account for a significantly larger revenue share between 2024 and 2032. Factors such as rising prevalence of various chronic diseases among adults, increasing awareness about benefits of smart shoes for tracking fitness and health metrics, monitoring their running performance and setting fitness goals, and rising integration with advanced technology are expected to drive segment revenue growth between 2024 and 2032.
Regional Outlook:
North America is expected to account for the largest revenue share in the global market during the forecast period owing to high prevalence of various diseases across the region, rapid adoption of advanced technologies, and rising number of fitness enthusiasts investing in smart shoes. Moreover, changing fashion trends, rising investments in developing more attractive, stylish, and durable shoes, and presence of leading companies are other factors expected to drive North America market growth over the forecast period.
Report Coverage:
| Report Details | Outcome |
| Base Year for Estimation | 2023 |
| Historical Data | 2018-2022 |
| Forecast Period | 2024-2032 |
| Segments Covered: | Type, Distribution Channel, End-Use, and Region |
| By Type | Smart Walking Shoes, Smart Running Shoes, and Smart Sports Shoes |
| By Distribution Channel | Supermarkets and Hypermarkets, Specialty Stores, Online Stores, Others |
| By End Use | Adults, Children, Senior Citizens |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Country Scope | United States, Canada, Germany, France, UK, Italy, Russia, China, Japan, South Korea, Southeast Asia, India, Mexico, Brazil, Saudi Arabia, UAE, Turkey |
| Qualitative Info | •Value Chain Analysis •Pricing Analysis •Regional Outlook •Market Trends •Market Share Analysis •Competition Analysis •Technological Advancements |
| Key Players | Under Armour, Inc., Nike, Inc., Digitsole, Adidas Group, PUMA SE, Salted Venture Inc., Sole Power, LLC, Powerlace Technology Inc., Intellinium Technologies Pvt. Ltd, B-Shoe Ltd., Zhor-Tech, Li Ning Company Limited, 361 Degrees International Limited |
| Customization Scope | 10 Hours of Free Customization and Expert Consultation |
Competitive Landscape:
The global smart shoes market is extremely competitive, comprising several regional and global level key players. Leading key players are focused on adopting various strategic alliances like mergers and acquisitions, partnerships, joint ventures, collaborations, and product launches to maintain their global position and enhance their product offerings. They are also focused on innovation, and scalability, and are adapting to evolving technology trends and consumer needs.
Some Leading Market Companies Listed in the Report:
- Under Armour, Inc.
- Nike, Inc.
- Digitsole
- Adidas Group
- PUMA SE
- Salted Venture Inc.
- Sole Power, LLC
- Powerlace Technology Inc.
- Intellinium
- B-Shoe Ltd.
- Zhor-Tech.
- Li Ning Company Limited
- 361 Degrees International Limited
Smart Shoes Industry Recent Developments:
- In April 2023, Nike is set to launch the first-ever NFT sneakers, Our Force 1.
- In January 2023, Ajanta Shoes announced the launch of India’s first AI-inspired smart shoe, the NAVIGATOR.
The global smart shoes market has been segmented based on type, distribution channel, end-use, and region:
By Type:
- Smart Walking Shoes
- Smart Running Shoes
- Smart Sports Shoes
By Distribution Channel:
- Supermarkets and Hypermarkets
- Specialty Stores
- Online Stores
- Others
By End Use:
- Adults
- Children
- Senior Citizens
By Region:
- North America
- United States
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Russia
- Nordic Countries
- Asia Pacific
- China
- Japan
- South Korea
- Southeast Asia
- India
- Australia
- Rest of Asia
- Latin America
- Mexico
- Brazil
- Rest of Latin America
- Middle East & Africa
- Turkey
- Saudi Arabia
- UAE
- Rest of MEA
Frequently Asked Questions!
- Under Armour, Inc.
- Nike, Inc.
- Digitsole
- Adidas Group
- PUMA SE
- Salted Venture Inc.
- Sole Power, LLC
- Powerlace Technology Inc.
- Intellinium
- B-Shoe Ltd.
- Zhor-Tech.
- Li Ning Company Limited
- 361 Degrees International Limited
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