Smart shoe is a smart technology incorporated in footwear. It works through smartphone as its insoles are connected to different smartphone applications such as Google maps, trackers etc. It is nothing but the hardware and software technologies assemble together that can constantly give personalized information to user. Health analytics, smart connectivity and sneaker design are some important and attractive factors that increases the demand of smart shoe. Health analytics include the different parameters such as activity sensors, impact force, steps count, distance etc.
Smart connectivity deals with connectivity applications in smartphones like Bluetooth 4.0. Sneaker design is an advance shoe design with additional specifications such as auto lacing, temperature regulation among others.
On the basis of sales channel, the market can be segmented into online channel, retail stores and departmental stores. Out of these, online sale of the smart shoe is more due to increasing digitalization globally. Increasing digitalization all over the world changes the way of shopping from traditional to online shopping. Growing industrialization and digitalization is expected to sell the product online in large amount as compare to traditional shopping. Amazon, Ebay, Croma etc., are the online site where customer can buy online Smart Shoe Market.
Major Key Players:
- Nike (U.S.)
- Salted Venture (U.S.)
- Under Armour (U.S.)
- Li Ning (Xiaomi) (China)
- Adidas (Germany)
- Daphne and 361
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- Fitness Institute
- Training center
- Wearable Manufacturers
- Operating system providers
- Software Developers
- Navigation system providers
- Sensor providers
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
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- Rest of Europe
- Rest Of Asia Pacific
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