Regionally, North America accounted for the largest market share from countries such U.S., Canada and Mexico among others. The reason is attributed to growing demand for high-end technology solutions and smart gadgets or textiles. However, Asia Pacific is expected to grow over the forecast period, 2017-2023.
The global smart shoe market can be bifurcated as product type, distribution channel, and region. On the basis of product type, the market can be segmented as step counting shoes, positioning shoes and navigation shoe. Based on distribution channel, the market is segmented into online channel, retail stores and departmental stores. Geographically, the market is segmented into North America, Europe, Asia Pacific and Rest of the World. The regional segment is further bifurcated into U.S., Canada, Mexico, UK, France, Germany, China, Japan and India.
The factors contributing to the growth of the Smart Shoe Market are growing adoption of technology, rising popularity towards smart wearable.
Furthermore, factors such as trendy look of smart shoe and increasing health awareness are expected to boost the growth of the smart shoe market over the forecast period, 2017-2023. However, high cost of the smart shoe and continuous product innovation from different competitors are the factors hampering the growth of the overall market.
The global smart shoe market is highly competitive. Various established international brands, domestic brands and as well as new entrants form a competitive landscape. The key players are nonstop increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. The smart shoe market is highly competitive due to the presence of several large vendors.
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Major Key Players:
- Nike (U.S.)
- Salted Venture (U.S.)
- Under Armour (U.S.)
- Li Ning (Xiaomi) (China)
- Adidas (Germany)
- Daphne and 361
The global smart shoe market is expected to grow significantly over the forecast period, 2017-2023. Academic segment of smart shoe market globally drives the market majorly due to growing awareness about health. Smart shoe encourage people to walk more. Its user-friendly feature increases convenience to carry it all the time.
The market is expected to have higher growth rate as compared to the previous years. It is due to the fast and continuous product innovation such as recently, Under Armour has added built-in sensors to their three new running shoes. It gives willingness push to smart shoe market in future prospective.
The global smart shoe market segmented into four main regions such as North America, Asia-Pacific, Europe and Rest of the World. The regional segment is further bifurcated into U.S., Canada, Mexico, UK, France, Germany, China, Japan and India.
North America region hold the largest share of the total smart shoe market in terms of revenue. It is due to the presence of some leading smart shoe providers in the region. Nike (U.S.), Salted Venture (U.S.), Stridalyzer (U.S.), Under Armour (U.S.) are some leading industry participants located in U.S. In September 2016, Nike’s launched a self-lacing sneakers. In addition, with technological advancement, Nike consistently focused on adding connectivity features in its wearable product such that company installed Bluetooth smart devices in shoe insole that measures heart rate and diabetic’s blood glucose levels among others. Nike is a one of the leading contributor in smart shoe. Increasing involvement in athletic activities along with changing lifestyle increasing the demand of smart shoe in North America.
Europe is expected to show an impressive raise in the growth of global smart shoe consumption due to increased adoption of technology based products and health awareness.
Asia-Pacific region is expected to grow over the forecast period. Countries such as Japan, China and India contributes largely to the overall market share. The reason is attributed to the increasing demand of smart shoe from China and India. As it is emerging region, people get aware of benefits of smart shoe and different electronic gadgets. Chinese companies focused on launching low cost smart wearable which increases its demand due to affordability. This drives the growth of smart shoe market in Asia Pacific. Recently, in March 2017, Xiaomi has launched a smart shoe in partnership with sports brand Li Ning having military-grade motion sensors feature.
For the purpose of this study, Market Research Future has segmented the market of smart shoe into product type, distribution channel, end-users and region.
By Product Type
- Step counting shoes
- Positioning shoes
- Navigation shoes
By Distribution Channel
- Online Channel
- Retail Stores
- Departmental Stores
- Rest of Europe
- Rest Of Asia Pacific
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- Fitness Institute
- Training center
- Wearable Manufacturers
- Operating system providers
- Software Developers
- Navigation system providers
- Sensor providers
Table of Contents
1 Market Introduction
1.2 Scope of Study
1.2.1 Research Objective
1.3 Market Structure
2 Research Methodology
2.1 Research Network Technology Software
2.2 Primary Research
2.3 Secondary Research
2.4 Forecast Model
2.4.1 Market Data Collection, Analysis & Forecast
2.4.2 Market Size Estimation
List of Tables
Table 1 Smart Shoe Market, By Product Type
Table 2 Smart Shoe Market, By Distribution Channel
Table 3 Smart Shoe Market, By Geography
List of Figures
Figure 1 Research Methodology
Figure 2 Smart Shoe Market, By Product Type (%)
Figure 3 Smart Shoe Market, By Distribution Channel (%)
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