Smart Shoe Market Highlights:
The wearable technology industry is growing by leaps and bounds. The integration of wearable technology with shoes is one of the latest innovations and has already gained popularity. This report by Market Research Future (MRFR) reveals that the global smart shoe market is poised to gain traction over the next couple of years. As per the report, the smart shoe market is poised to earn revenues worth USD 6.51 Bn by 2023, reflecting an exponential CAGR of 32% across the review period 2017 to 2023.
The product is gaining popularity among the athletes for tracking their records. Its accuracy and reliability are anticipated to drive the growth of the Smart Shoe Marketin the foreseeable future. In addition, the rising population of health-conscious people is also anticipated to invest in the product in the years to come. The rising per capita income of the population is projected to lead the growth pattern of the market over the evaluation period.
The developments in smart technologies are prognosticated to revolutionize the future trajectory of the smart shoe market. Other factors expected to contribute to the market development are rising standards of living, increasing awareness, rapid urbanization, etc.
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Competitive Dashboard:
Li Ning (Xiaomi), Salted Venture, Nike, Adidas, Stridalyzer, Digitsole, Under Armour, Solepower, Orphe, Boltt, and 361 sportare some of the major players expected to play a crucial role in the development of the smart shoe market over the next few years. These players are likely to invest in technological innovations and research & development for seeking expansion of their market shares.
The landscape of the smart shoe market represents robust competitiveness among established international as well as domestic brands. In addition, with the rising popularity of the product, new players at both international and regional levels, are anticipated to enter the market. This, in turn, is projected to act as a competition catalyst in the global market place over the next couple of years. Cost-effective pricing policies are also anticipated to be leveraged by the market players for gaining an edge over other market participants. Some of the growth methods expected to be employed by the players of the smart shoe market are – mergers & acquisitions, strategic alliances, collaborations, product innovations, competitive pricing, etc.
Market Segmentation:
- On the basis of product type, the smart shoe market is segmented into positioning shoes, step counting shoes, and navigation shoe.
- On the basis of distribution channel, the smart shoe market has been segmented into retail stores, online channel, and departmental stores.
Regional Analysis:
The global smart shoe market has been studied in detail on the basis of region in this MRFR study. The regional segments identified in this MRFR report are – Europe, Asia Pacific (APAC), North America, and the Rest of the World (RoW). These regions are further analyzed on the basis of key country-level markets. North America is anticipated to account for the maximum share of the smart shoe market in the upcoming years.
The high rate of adoption and integration of smart technology in the region is poised to expedite the growth of the regional market. Europe is also anticipated to exhibit similar trends. The rising inclination towards health consciousness observed in the region is projected to dictate the growth pattern of the smart shoe market in the region. These regions are likely to benefit from the presence of strong and developed economies. Asia Pacific is also poised to witness fast growth rate owing to the rising income levels and the growth of the middle-income population.
Industry News:
In October 2019, Nike, an American multinational corporation, has announced its collaboration with Apple, a multinational technology company, for the launch of its futuristic shoe with Siri capabilities for tying and untying shoelaces.
Table of Contents
1 Market Introduction
1.1 Introduction
1.2 Scope of Study
1.2.1 Research Objective
1.2.2 Assumptions
1.2.3 Limitations
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
Continued…
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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
Table 4 North America Smart Shoe Market, By Product Type
Table 5 North America Smart Shoe Market, By Distribution Channel
Continued…
List of Figures
Figure 1 Research Methodology
Figure 2 Smart Shoe Market, By Product Type (%)
Figure 3 Smart Shoe Market, By Distribution Channel (%)
Figure 4 Smart Shoe Market, By Regions (%)
Figure 5 North America Smart Shoe Market, By Product Type (%)
Continued…
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