USD 162.38 billion
Global Smart Shoes Market Size, Share, Growth Analysis, By Product Type(Smart Walking Shoes, Smart Running Shoes), By Distribution channel(Supermarket/Hypermarket, Specialty Store) - Industry Forecast 2023-2030
Report ID:
SQMIG25L2014 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
63 |
Figures:
70
Global Smart Shoes Market Insights
Smart Shoes Market size was valued at USD 162.38 billion in 2021 and is poised to grow from USD 175.03 billion in 2022 to USD 341.16 billion by 2030, growing at a CAGR of 8.70% in the forecast period (2023-2030).
The global smart shoes market is expected to witness growth driven by several factors. Traditional shoes offer comfort during walking, but by incorporating electronics into them, the consumer experience can be elevated to new heights. This advancement has led to the creation of Smart Shoes, where sensors, Bluetooth, Navigation Trackers, and self-lacing techniques are seamlessly integrated with conventional footwear. Smart Shoes revolutionize the way individuals are monitored during physical activities such as walking or running. They provide real-time information on metrics like distance traveled, pulse level, and calories burned, making them particularly beneficial for people aiming to combat obesity. The increasing popularity of the internet and technological innovations has fostered a greater acceptance of smart gadgets, with rising disposable incomes further fueling their adoption. Smart shoes act as a single device that integrates various aspects of daily life, connecting effortlessly to smartphones via Bluetooth. This connectivity allows constant monitoring of phone notifications while the user is on the move, ensuring a well-rounded and enhanced user experience.
US Smart Shoes Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2023-2030
Global Market Size
Largest Segment
Smart Running Shoes
Fastest Growth
Smart Running Shoes
Growth Rate
8.70% CAGR
Global Smart Shoes Market ($ Bn)
Country Share for North America Region (%)
Global Smart Shoes Market By Product Type ($ Bn)
Global Smart Shoes Market By Product Type (%)
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Global Smart Shoes Market Segmental Analysis
The global smart shoes market is segmented on the basis of product type, distribution channel, end user, and region. By product type, the market is segmented into smart walking shoes, smart running shoes, smart sports shoes. By distribution channel, the market is segmented into supermarket/hypermarket, specialty store, online store. By End user, the market is segmented into male, and female. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Smart Shoes Market Analysis By Product Type
“Smart running shoes” are the most dominant segment in the smart shoes market. Running enthusiasts and fitness-conscious individuals were the primary target audience for these shoes. The integration of sensors and tracking technologies in smart running shoes offered real-time feedback on performance, gait analysis, and running metrics, making them highly popular among runners and athletes.
On the other hand, “Smart sports shoes” anticipated to be the fastest-growing segment in the smart shoes market. These shoes were designed to cater to various sports activities, such as basketball, soccer, tennis, and more. They offered specialized features and performance-enhancing capabilities specific to different sports. The growing interest in sports and the desire to improve performance through technology contributed to the rapid growth of this segment.
Smart Shoes Market Analysis By Distribution channel
The “Online stores” segment is the most dominated segment in the Global Smart Shoes Market. The convenience of online shopping, a wide range of product options, and the ability to compare prices and features easily have contributed to the popularity of purchasing smart shoes through online platforms.
On the other hand, “Specialty stores” segment is the fastest growing segment in the Global Smart Shoes Market. These stores often focus exclusively on technology-driven products like smart shoes, providing knowledgeable staff and a specialized shopping experience. As consumers become more aware of the benefits and features of smart shoes, they are seeking out specialty stores for personalized assistance and expertise.
Global Smart Shoes Market By Product Type, 2021 (%)
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Global Smart Shoes Market Regional Insights
The global smart shoes market is analyzed based on its regional presence, which includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Among these regions, “North America” emerged as the leader and a dominant region in the Smart Shoes Market. The country's advanced technological infrastructure, high disposable incomes, and a growing interest in fitness and wellness have driven the demand for smart shoes. Additionally, the presence of key market players and continuous product innovations has contributed to the significant market share of the United States in the smart shoes segment.
On the other hand, the “Asia Pacific” region is considered to be the fastest growing region, particularly China and India, has witnessed the fastest growth in the smart shoes market. Rapid urbanization, increasing awareness of health and fitness, and the adoption of smart technologies have fueled the demand for smart shoes in these countries. Moreover, the region's vast population and expanding middle-class segment have made it a hotbed for smart shoe manufacturers to explore and capture new opportunities.
Global Smart Shoes Market By Geography, 2023-2030
- Largest
- Fastest
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Global Smart Shoes Market Dynamics
Smart Shoes Market Drivers
Technological Advancements:
- Continuous advancements in sensor technology, connectivity, and miniaturization have led to more sophisticated and affordable smart shoe solutions. These innovations enhance the functionality and user experience of smart shoes, attracting more consumers to adopt this technology.
Increasing Health and Fitness Awareness:
- The growing awareness of health and fitness among people worldwide has fueled the demand for wearable fitness devices. Smart shoes with features like tracking distance, calories, and heart rate appeal to health-conscious individuals looking to monitor and improve their physical activity.
Smart Shoes Market Restraints
High Cost:
- The integration of advanced technologies into traditional footwear increases the manufacturing costs of smart shoes. As a result, the retail prices of these products tend to be higher than regular shoes, limiting their affordability and accessibility for some consumers.
Privacy and Security Concerns:
- With the collection of personal data through smart shoes, consumers may have concerns about their privacy and data security. The potential risks of data breaches or unauthorized access to sensitive information could hinder the adoption of smart shoes by privacy-conscious individuals. Manufacturers need to address these concerns to gain broader consumer trust and acceptance.
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Global Smart Shoes Market Competitive Landscape
The global smart shoes market features a competitive landscape with numerous companies vying for market share. Numerous innovative players are introducing cutting-edge technologies such as sensors, Bluetooth integration, navigation trackers, and self-lacing techniques. The market is witnessing steady growth due to increasing consumer demand for fitness tracking and advanced wearable technologies. As the adoption of smart gadgets rises and disposable incomes increase, the smart shoes market is expected to witness further expansion. Companies are continuously investing in research and development to create smarter and more user-friendly footwear, enhancing the overall consumer experience in the fitness and tech sectors.
Smart Shoes Market Top Player’s Company Profile
- Nike, Inc. (U.S.)
- Puma SE (Germany)
- Adidas AG (Germany)
- Bata Brand (India)
- Honeywell International Inc. (U.S.)
- New Balance (U.K.)
- ELTEN GmbH (Germany)
- Uvex group (Germany)
- Xiaomi (China)
- Oftenrich Holdings Co. Ltd. (U.S.)
- Wolverine World Wide Inc. (U.S.)
- Hewat's Edinburgh (U.K.)
- W. L. Gore & Associates, Inc. (U.S.)
- Sunflower Industrial Group Co.,Ltd (China)
- HILLSON FOOTWEAR PVT. LTD (India)
Smart Shoes Market Recent Developments
- In 2021, Under Armour's Curry Brand unveiled a collection of seven footwear called the Curry Flow 9 shoes.
- In 2023, Ajanta Shoes introduced their AI-inspired smart shoe, named Impakto, which proudly holds the distinction of being the first 'Made in India' smart footwear.
Global Smart Shoes Key Market Trends
- Integration of Health and Fitness Monitoring
One significant trend in the smart shoes market is the increasing integration of health and fitness monitoring features. Smart shoes are equipped with various sensors that track metrics such as step count, distance walked or run, heart rate, and calories burned. These shoes provide real-time data to users, enabling them to monitor their physical activity levels and overall health. This trend aligns with the growing interest in personal health and fitness, and it offers consumers a convenient way to keep track of their exercise routines and set fitness goals.
- Advancements in Connectivity and App Integration:
Another key trend is the continuous improvement in connectivity options and app integration for smart shoes. Manufacturers are developing sophisticated Bluetooth and Wi-Fi capabilities in smart shoes, allowing seamless communication with smartphones and other smart devices. Through dedicated mobile apps, users can access detailed analytics, customize settings, and receive personalized insights based on their activity data. This trend not only enhances user experience but also opens up possibilities for wearable tech ecosystems and data-driven insights for fitness enthusiasts, athletes, and everyday users.
Global Smart Shoes Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global smart shoes market analyses, the increasing demand for wearable technology is a prominent growth driver. These innovative shoes, equipped with sensors, Bluetooth connectivity, and navigation trackers, offer real-time monitoring of physical activity metrics like distance, pulse, and calories burnt. Their applications in fitness tracking and health management have attracted health-conscious consumers, while the convenience of integrating smartphones through Bluetooth has further boosted their adoption. As disposable incomes rise and technological advancements continue, the market for smart shoes is projected to expand, providing comfort and personalized insights to users during their daily activities.
| Report Metric | Details |
|---|---|
| Market size value in 2021 | USD 162.38 billion |
| Market size value in 2030 | USD 341.16 billion |
| Growth Rate | 8.70% |
| Base year | 2021 |
| Forecast period | 2023-2030 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Smart Shoes Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Smart Shoes Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Smart Shoes Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Smart Shoes Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Smart Shoes Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Smart Shoes Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Smart Shoes Market Report Snapshots
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