Smart Shoe Market Research Report by Forecast to 2023

Posted by Kiran on December 2nd, 2019

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 Global Smart ShoeMarketin 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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Smart Shoe Market 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.

Smart Shoe 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.

Smart Shoe Market 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.

Smart Shoe 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.

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