Smart Shoe Market Projected to Register ~ 22.4% CAGR through 2027 (1)

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Smart Shoe Market

• March 2020

Report Id REP-GB-9482 Published On Apr
23,2019 Category Retail and Consumer Products
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Smart Shoe Market Analysis
Close to half a million pairs of smart shoes were
sold in 2018, as indicated by a recent study of
Future Market Insights (FMI). An average 22
Y-o-Y growth is envisaged for the revenue
of smart shoe market, over the coming years. More
than 1/3rd of the global sales of smart shoes is
accounted by North America, followed by Europe.
FMI's report prompts at significantly high
potential for smart shoe market in
APEJ. Functionality Feature Upgrade Key to
Succeed in Smart Shoe Industry As increasing
consumer proclivity for health and fitness
related products has been elevating the prospects
of smart wearables landscape, it is highly likely
that smart shoes will also establish a firmer
base in coming years. Functional capabilities of
smart shoes tracking the data of running or
walking, running routes, calories burned, and
activity speed will continue to place smart shoes
in today's desirable products category. Other
important technologies such as GPS navigation are
also likely to uplift applicability of smart
shoes in the tech savvy age. According to FMI's
analysis, navigation shoes will remain
bestselling in the smart shoe market, accounting
for more than half of the global smart shoe
sales. Step counting smart shoes are also cited
as a popular category among consumers of smart
shoes.
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Smart Shoe Market Analysis
With leading manufacturers of smart shoes
concentrating on enhancing overall customer
experience by investing more efforts in improving
the cushioning effect, stability, road-holding
ability, breathability, shock absorption, and
light weight, the report is anticipating more
innovation in the smart shoe industry,
translating into higher traction for innovative
offerings in the smart shoe category. Key
Manufacturers of Smart Shoes Preferring
Technological Collaborations, Targeting New
Product Launches The market is dominated by
global brands such as Under Armour, Nike, and
Puma among others. However, the study highlights
that Chinese players have been strategizing on
strengthening their market footprint, recently,
boosting the level of competition further.
Moreover, relatively smaller, private-label
brands are securing their position in the global
smart shoe market by offering competitively
priced products, which is likely to emerge as a
point of concern for industry giants in the long
run. From Nike's self-lacing sneakers launched a
couple of years ago, followed by Li Ning's smart
shoes enabled with military-grade motion sensors,
in partnership with Xiomi, product innovation has
been the most preferred developmental strategy
among leading players. Over innovation, leading
companies in smart shoe market are entering
strategic partnerships with tech giants.
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Smart Shoe Market Analysis

• The strategic partnership between SR Max (SR Max
  Slip Resistant Shoes) and Sole Power, LLC to
  jointly develop self-charging smart work boots,
  and that between Genesis Rehab Services and
  Sensoria Fitness for the development of a smart
  footwear product for diabetes patients, mark some
  of the recent examples. Puma's relaunch of the
  oldest RS-Computer Shoes (2018) initiated a trend
  wave of launching older products in the category,
  with technological and feature upgrade.
• The report has a dedicated section for strategic
  profiles of some of the most prominent players
  actively competing in the global smart shoe
  market landscape. A few among them include Puma,
  Under Armour, Adidas, Li Ning (Xiaomi), Nike,
  Salted Venture, Digitsole, Orphe, Powerlace,
  Intellinium, GTX Corp, Lechal Company, EasyJet,
  and E-Vone.
• Press Release Source https//www.prnewswire.com/n
  ews-releases/smart-shoe-market-expected-to-increas
  e-at-a-cagr-of-approximately-22-4-through-2019-to-
  2027--future-market-insights-300852975.html
• Browse More Retail and Consumer Products Market
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Smart Shoe Market Analysis
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