IMARC Group, a leading market research company, has recently releases report titled “Smart Shoes Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global smart shoes market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Smart Shoes Market?
The global smart shoes market size reached US$ 270.5 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 672.8 Million by 2028, exhibiting a growth rate (CAGR) of 15.8% during 2023-2028.
What are Smart Shoes?
Smart shoes are specialized connected shoes that analyzes the walking or running style of the user to support their personal training goals. They comprise sensors, vibrating motors, global positioning systems (GPS), wireless systems, and various other actuators for the comfort and benefit of the wearer. They also consist of insoles that can act as Bluetooth-connected accessories and can link activity or position when connected to a smartphone app. They include integrated light emitting diodes (LEDs) which enable them to alert the user about low battery or a tight fit. Smart shoes are also integrated with inertial magnetic measurement units, which are made up of an accelerometer, a gyroscope, and a magnetometer. They are commercially known as intelligent shoes or computer-based shoes and can recognize and recording data from the day-to-day activities of the user. They are manufactured by engineering traditional shoes with integrated technology to boost comfort, convenience, and good health. They can sense the pressure when the foot is put inside and placed on the sole and trigger an algorithm that allows automatic lacing. They allow individuals to experience zero gravity and high-energy runs with enhanced cushioning properties and comfort.
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What are the growth prospects and trends in the smart shoes industry?
At present, the increasing demand for smart shoes among the masses, as they provide personalized feedback to analyze health, fatigue, posture, steps, and calories, represents one of the crucial factors impelling the growth of the market. Besides this, the rising integration of ambient environmental sensors, such as atmospheric pressure, light, and sound sensors, for acquiring data from altitude-dependent activities and the surrounding environment is propelling the growth of the market.
In addition, the growing inclination of the fashion and apparel industry to manufacture products with integrated technology is offering a favorable market outlook. Apart from this, the increasing involvement in fitness activities, such as running, jogging, hiking, and trekking, to maintain an active lifestyle and prevent the occurrence of thyroiditis, arthritis, diabetes, and cardiovascular complications is contributing to the growth of the market.
Additionally, the rising number of e-commerce brands selling high-quality smart shoes for all age groups and genders is supporting the growth of the market. Moreover, key market players are manufacturing various smart shoes with trendy designs and practical features to provide comfort with style. They are also adopting effective marketing strategies, such as influencer and social media marketing, to connect with a large number of clients and boost their sales.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Product Type:
- Smart Walking Shoes
- Smart Running Shoes
- Smart Sports Shoes
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Specialty Stores
- Online Stores
Breakup by End User:
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
Alegria, Digitsole, Intellinium, Nike Inc., Puma SE, Salted Ltd., SolePower, Under Armour Inc., Vivobarefoot, Xiaomi Inc. and Zhor-Tech.
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