The latest report by IMARC Group, titled “Smart Shoes Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the global smart shoes market size reached a value of US$ 226.92 Million in 2021. Smart shoes are embedded with smart technology that enables users to perform advanced functions like walking, running and other physical activities while providing enhanced comfort and protection. They are connected to smartphone applications and are mounted with monitoring, navigation and positioning, electronic systems, microchips, pressure sensors, and a battery. These shoes provide personalized feedback to users through connected applications that assist in analyzing fatigue, health, steps, calories, posture, and keeping track of all the activities. Owing to these properties, smart shoes have gained traction among individuals across the globe.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Smart Shoes Market Trends:
The market is primarily driven by the expanding sports industry across the globe. Nowadays, athletes wear smart shoes to improve performance, provide cushioning to the foot, and enhance comfort. In addition, the increasing number of individuals participating in sports-related and fitness activities represents another major growth-inducing factor. Besides this, the leading market players are introducing shoes with navigation trackers and innovative features. For instance, Nike, Inc. has recently launched Nike Adapt, a smart shoe embedded with self-lacing technology and pressure sensors in the soles that sense the foot inside and allow automatic lacing. This, coupled with the easy product availability on various e-commerce platforms, is positively influencing the market growth. Moreover, the rising adoption of smart wearables by health-conscious individuals for tracking day-to-day activities and fitness levels is also creating a favorable market outlook. Looking forward, IMARC Group expects the market value to reach US$ 585.07 Million by 2027, exhibiting a CAGR of 16.50% during the forecast period (2022-2027).
- Based on the product type, the market has been segmented into smart walking, smart running, and smart sports shoes.
- On the basis of the distribution channel, the market has been categorized into supermarkets and hypermarkets, specialty stores, and online stores.
- Based on the end user, the market has been bifurcated into men and women.
- Region-wise, the market has been divided into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined in the report, with some of the key players being Alegria (Pepper Gate Footwear), Digitsole, Intellinium, Nike Inc., Puma SE, Salted Ltd., SolePower, Under Armour Inc., Vivobarefoot, Xiaomi Inc. and Zhor-Tech.
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