Global Smart Shoes Market
Innovation of leading-edge technologies has made smart wearables a new trend and need for the people as per changing technological environment and thus for smart shoes market too. With the comfort and fashion now ’Convenience’ will be a new feature of the footwear. These smart shoes help in navigation, steps and calorie counter, Wi-Fi hotspot, and much more. Lenovo and Xiaomi being the non-footwear entrants and the upcoming startups such as Boltt Sports Technologies are posing a challenge for existing big footwear brands such as Nike, Adidas and more.
Goldstein Research analyst forecast, the smart shoes market unit shipment will rise to more than 6 million units by 2024 which is currently around just 300,000 units in 2016, at a CAGR of 75.8% over the forecast years.
Covered In This Global Smart Shoes Market Report
The report covers the present ground scenario and the future growth prospects of the smart shoes market for 2016-2024 along with the statistics of number of people using smart wearables. We calculated the market size and revenue share on the basis of revenue generated from major players and sales of smart shoes from major players across the globe.
Global Smart Shoes Market Segmentation
By Product Type
By End User
? Children (12- 17 years)
? Young (18 – 32 years)
? Adults (33 – 50 years)
? Old people (50 years and above)
By Distribution Channel
? Online Stores
? Retail Stores
Based on Geography
? North America (U.S. & Canada) Smart Shoes Market
? Latin America (Brazil, Mexico, Argentina & Rest of Latin America) Smart Shoes Market
? Europe (The U.K., Germany, France, Italy, Spain, Poland, Sweden & RoE) Smart Shoes Market
? Asia-Pacific (China, India, Japan, Singapore, South Korea, Australia, New Zealand, Rest of Asia) Smart Shoes Market
? Middle East & Africa (GCC, South Africa, North Africa, RoMEA) Smart Shoes Market
On the basis of end user, the maximum number of young people category is using the smart wearables i.e., 48% of the total end users. Globally the smart shoes is an emerging market and is expected grow on the lines of its parent industry. Smart wearables have the total shipment volume of 104.3 million units in 2016, and are estimated at 310.7 million units till 2024, at the CAGR of 18.5%. Thus, with the growth in parent industry, smart shoes market is also expected to grow.
Smart shoes market Outlook 2016-2024, has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the smart shoes market. The report also includes porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. Global smart shoes market report also recognizes value chain analysis to understand the cost differentiation to provide competitive advantage to the existing and new entry players.
Trends, Drivers and Challenges
According to our global market study on the basis of extensive primary and secondary research: “One trend is the ongoing project to make smart shoes for blind people, people suffering from Alzheimer’s, autism, traumatic brain injuries and others to track their whereabouts. Other being is generating electricity by converting energy from the leg movement. Such innovations will make the smart shoes market to grow at a fast pace.”
According to the report, major driving factor for expansion of smart shoes market is that being the emerging market, it will cater immense research and development for innovative manufacturing processes and cost effective solutions by the majority market players, to boost sales and acquire larger market share among other wearables.
Further, the report states that the major challenge is the inability to provide real time health monitoring (HM) solutions. The current research and development and the major challenge i.e. based on multi-parameter physiological sensor system and mobility measurement system, that reliably measures the vital signs and correlate it with the real time decision support processes.
Global Smart Shoes Market Analysis
On the basis of geographical region, the developed nations such as U.S., Canada, Mexico, Germany, France, etc. will continue to provide a steady growth but at a lower CAGR. Whereas, the emerging markets such as South East Asia, India, China, etc. are expected to be giving substantial contribution to this market, owing to their rising infrastructure and the application of the products.
Our global smart shoes Market report comprises of the following companies as the key players: Nike, LiNing, Adidas, ANDL, Puma, Ducere Technologies, Yunduo 361 Sport, Under Armour.
Other high-flying vendors in the market are: Stridalyzer, Digitsole, B-Shoe, Salted Venture, Daphne, Boltt Sport technologies, Xioami, Lenovo, Lechal.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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Key questions answered in this Smart Shoes Market report
- What is the total market size by 2024 and what would be the expected growth rate?
- What is the revenue of smart shoes sale in 2015-16 and what would be the expected demand over the forecast period?
- What are the key market trends?
- What are the factors which are driving this market?
- What are the major barriers to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities for the existing and entry level players?
- What are the recent developments and business strategy of the key players?
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