"Assisting You in Establishing Data Driven Brands"

Smart Shoes Market Size, Share & Industry Analysis, By Product (Walking Shoes, Running Shoes, Sports Shoes), By End-User (Male, Female), By Sales Channel (Retail Stores, E-commerce Stores) And Regional Forecast, 2024-2032

Region :Global | Report ID: FBI106268 | Status : Ongoing

 

KEY MARKET INSIGHTS

Nowadays, the global population is increasingly inclined towards apparel and fashion products that incorporated technology is helping to boost the appreciation and usage of smart shoes. The product providing personalized feedback regarding calories, steps, posture, fatigue, and others is assisting in gaining more traction among consumers. Besides, the launch of a unique and ground-breaking smart shoe such as a self-lacing shoe that is able to better penetrate the market acts as an opportunity for product growth. For instance, the data issued by  Design Bloom in March 2020, Nike announced the release of its third self-lacing shoes, which adopt auto max.


Consumers all over the world willing to make high expenses on footwear products have resulted in paving a way in assisting to drive the market growth. As per the data released by the Footwear Distributor and Retailer of America, mentions that in 2020 the personal spending made on footwear in the United States was USD 76.9 billion.  In addition to this, key players of the market willing to invest more in their research and development have played a significant role in the increasing production of a broader range of smart shoes with multiple features is thus acting as a positive factor in rising the demand. For instance, the data presented by the Adidas Group states that Adidas has made an investment of USD 170.21 million in its research and development in 2019.

Nevertheless, the requirement of consistent charging of the battery repelling some consumers to own the product is hampering the market growth.

Key Market Driver -

The high expenditure made on footwear products among consumers worldwide is acting as a driving factor for the market growth.

Key Market Restraint -

Most smart shoes often require regular charging of battery result to repel some consumers is acting as a restraining factor for the market growth


Key Players Covered:


Under Armour Inc, Nike Inc, Puma SE, Adidas AG, Digitsole, Salted Venture, Xiaomi Corporation Limited, and others are the key companies operating in the global smart shoe market.

The smart shoe market is segmented into by product, end-user, sales channel, and geography.

On the basis of product, the market is fragmented into walking shoes, running shoes, and sports shoes. Running shoe is estimated to be the prominent market shareholder on account of many consumers choosing this shoe owing to the offerings of better breathability, stability, and motion control while taking exercise.

Based on end-user, the product is grouped into male, and female. Male segment is the larger market due to a large number of men being more conscious and aware of how the product is able to help monitor and improve their exercising routine. Moreover, a larger percentage of men involved in sports as compared to women has a significant contribution to the male dominance.

By sales channel, the market is segmented into retail stores and e-commerce stores. Retail stores are projected to be the leading segment due to a large number of consumers having the desire to see, touch, and feel the physical product before doing the actual purchasing increases the utilization of this channel.

Regional Analysis:


Based on region, the smart shoe market is divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa.

North America is estimated to embrace a dominant share and is anticipated to continue throughout the forecast period of 2021-2028. Many people in this region involved in physical activities have resulted in escalating the demand for the product. As per the data released by the Global Wellness Institute.Org, states that in 2018, 58.8% of the United States population was assessed to be participating in physical activity. Moreover, the low youth unemployment rate in the United States boosted the purchasing power of the youth population who are more inclined towards owning tech infuse footwear products is helping to spike the market growth. According to the data presented by the Trading Economics, declares that in the United States, the youth population unemployment in July 2021 has witnessed a decline to 9.20 percent from that of 9.30percent of June 2021.

Asia Pacific is assessed to display a significant presence in the smart shoe market, owing to the growing government participation to promote fitness by establishing outdoor gyms at public locations. As per the data released by the Business Standard in November 2019, the Himachal Pradesh state government in India has set up outdoor gyms to promote the Fit India Movement. Furthermore, the upsurging growth of online retail sales of countries of this region has strengthened the consumption rate of smart shoes. As per the data published by the UNCTAD.org, the 2019 online retail sales of China, South Korea, and Singapore were USD 5,957 billion, USD 406 billion, USD32 billion, respectively.

To gain extensive insights into the market, Request for Customization


Segmentation


























  ATTRIBUTE


  DETAILS


By Product



  • Walking Shoes

  • Running Shoes

  • Sports Shoes



By End-User



  • Male

  • Female



By Sales Channel



  • Retail Stores

  • E-commerce Stores



By Geography



  • North America (U.S., Mexico, and Canada)

  • Europe (Germany, Italy, Spain, France, U.K., Russia, and Rest of Europe)

  • Asia Pacific (China, India, Japan, Australia, and Rest of Asia Pacific)

  • South America (Brazil, Argentina, and Rest of South America)

  • Middle East & Africa (South Africa, UAE, and Rest of ME&A)



Key Industry Developments-



  • In April 2018, Myntra declared the acquisition of Witworks which will help the brand in launching products such as smart shoes, smart watch and intelligent clothing.

  • In February 2019, Puma announced the released of its self-lacing shoe to compete with its rival Nike in the smart shoe market.





  • Ongoing
  • 2023
  • 2019-2022

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Consumer Goods Clients

Wepa
Health Canada
Radico
Asahi
Edenred

Client Testimonials

“We are quite happy with the methodology you outlined. We really appreciate the time your team has spent on this project, and the efforts of your team to answer our questions.”

- One of the largest & renowned medical research centers based in the U.S. on a report on the U.S. NIPT Market.

“Thanks a million. The report looks great!”

- Feedback from a consultant on a report on the U.S. Beef Market.

“Thanks for the excellent report and the insights regarding the lactose market.”

- Brazil based company specializing in production of protein ingredients.

“I liked the report; would it be possible to send me the PPT version as I want to use a few slides in an internal presentation that I am preparing.”

- Global Digital Services Agency on a report on the Global Luxury Goods Market.

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X