Smart Shoes Market Size, Share & Research Report

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Smart Shoes Market Size, Share & Research Report

The Smart Shoe Market is estimated to expand at a significant CAGR over the forecast period (2020-2027).

Smart Shoe Market

The Smart Shoe Market is estimated to expand at a significant CAGR over the forecast period (2020-2027).

The factors driving the growth of Smart Shoe Market includes rise in the number of sporting events around the world, growing demand for sneakers and increasing awareness amongst consumers about adopting healthy lifestyles. According to report published by Statista, the Global Sneakers Market was estimated around USD 54,120 million in 2016 and is predicted to reach USD 102,735 million by the end of 2025, which is expected to boost the Global Smart Shoes Market in the approaching years. Moreover, the growing popularity of Bluetooth enabled shoes, increasing Government’s expenditure on promoting fitness activities in schools and universities, rapid urbanization, expansion of the Health and Wellness Industry and rise in the launches of innovative footwear products, are some of the additional factors supplementing the Smart Shoes Market size. In addition, the increasing construction of fitness centers and gyms, increasing investments by leading players on research and development, penetration of health monitoring devices and the integration of advanced technologies such as Artificial Intelligence (AI) and Internet of Things (IoT) with the smart wearable devices, are further propelling market growth.

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However, the growth of Smart Shoe Market is hindered because the smart shoes require regular charging of the battery.

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

Product Type: Segment Analysis

Based on Product Type, the Smart Running Shoes segment is expected to grow at a significant CAGR during the forecast period. The growing demand for smart running shoes to track distance covered, calories burned and to check health statistics, along with rise in the launches of innovative smart shoes, are some of the factors responsible for the segment’s growth.

End User: Segment Analysis

Based on End-User, the Men segment is predicted to capture the largest market share over the forecast period. Rise in the number of gyms and fitness centers, growing influence of social media platforms and easy availability of men athletic footwear products at the e-commerce platforms, are some of the factors augmenting the segment’s growth.

Regional: Segment Analysis

As per the Smart Shoe Market Research Report, the North American region id projected to expand at a remarkable CAGR during the forecast period. Rising cases of obesity, growing demand for wearable devices, increase in the number of gyms and fitness centers, growing smartphone penetration rates and high per capita incomes, are some of the important factors propelling the Smart Shoes Market share in North America.

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

Asia Pacific

China

Japan

India

Rest of APAC

North America

United States of America

Canada

Europe

United Kingdom

Germany

France

Spain

Rest of Europe

RoW

Brazil

South Africa

Saudi Arabia

UAE

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GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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