13 June 2019, Global smart shoes market is anticipated to witness an exponential growth in the forecast period.
Smart shoes are embedded with sensors that will notice your walking and could
be controlled via smartphone. The factors that propel the growth of the market
include growing acceptance of technology, increasing popularity towards smart
wearable, fashionable look of the smart shoe, increasing health consciousness
and growing demand.
On the other hand, there are factors that may hamper the
growth of the market including continuous product innovation from different key
players, and the high cost of the smart shoe. The market is anticipated to
expand at a significant CAGR of 22.70% in the upcoming period as the scope,
product types, and its applications are increasing across the globe.
The new trend in the market is increasing acceptance and
rising competition in the smart shoes market have compelled vendors effective
in this market to participate in innovation to survive in the market. These
inventions result in the introduction of new features such as a way of
improving physical activities, personalized coaching that advises the essential
diet intake, monitoring the goal of physical activities, and additional
development plans based on workout plans to the users.
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| Smart Shoes Industry |
Smart shoes market could be explored by type,
application, distribution channel, and geography. The market could be explored
by type as Positioning shoes, Step counting shoes, Navigation shoes and Other.
The key applications that could be explored in the market include Children,
Adults, Old People and others. The “Adults” segment led the market in 2017 and
will continue to lead in the forecast period. The key factors that may be
attributed to the growth of market includes the increased engagement in fitness
and sports activities. The market could be explored by distribution channel as
Online Channel, Departmental Stores, and Retail Stores. The “Retail Stores”
segment led the market in 2017 and will continue to lead in the forecast
period.
North America accounted for the major share of the smart
shoes market in 2017 and will continue to lead in the forecast period. The
factors that could be attributed to the growth include increasing demand from
fitness-conscious consumers, increasing infrastructure and the application of
the products, smart textiles or gadgets and growing demand for high-end
technology solutions. North America is followed by Asia-Pacific region in the
years to come
Some of the key players that fuel the growth of the smart
shoes market comprise LiNing, Nike, AND, Adidas, Yunduo, Ducere Technologies, Under
Armour, 361 sport, Serializer, Daphne, B-Shoe, Digit sole, Salted Venture,
PUMA. The leading companies are taking up partnerships, mergers and
acquisitions, and joint ventures in order to boost the inorganic growth of the
industry.
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