NEW YORK, March 29, 2023 /PRNewswire/ -- The global smart shoes market size is estimated to grow by USD 587.87 million from 2021 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 24.78% during the forecast period. The rising product innovation leading to premiumization is driving the growth of the market significantly. The global smart shoes market is dominated by a small number of players that invest in continuous product and technological innovations to survive in the market. The emergence of innovative and technologically advanced smart fitness products will attract consumers, which, in turn, will accelerate market growth and increase market value in terms of revenue. Smart footwear, such as step-counting shoes, is popular among consumers engaged in athletic and fitness activities for monitoring daily workouts. These shoes also alert users about incorrect steps and activities. Such factors will increase the market growth during the forecast period. For more insights about the market - Request a sample report
Global Smart Shoes Market – Market Dynamics
Leading trends influencing the market
- The provision of personalized fitness coaching is a smart shoes market trend that is expected to have a positive impact in the coming years.
- Growing acceptance and increasing competition in the global smart shoe market are compelling the vendors operating in this market to invest in continuous innovation to stay ahead of the market.
- These innovations lead to the introduction of new features such as personalized coaching, wherein users can get suggestions about the required diet intake, physical activities, and improvement plans.
- Vendors in the market are introducing smart shoes that can guide users in physical activity and help them avoid mistakes.
- The launch of shoes with smart, personalized coaching features will further drive the global smart shoes market.
Major challenges hindering the market growth
- The proliferation of wearable fitness devices will be a major challenge for the smart shoes market during the forecast period.
- The demand and continuous innovation in the global smart shoes market are growing rapidly. This is primarily due to the features that these shoes offer, especially for athletes and fitness-conscious consumers.
- The main functions offered by these smart shoes include counting steps, calculating the number of physical activities performed, and recommending the appropriate healthy diet required according to the physical activity performed.
- However, many fitness wearables also offer the same features and other additional features related to fitness and physical activity.
- The growth in the adoption of smart fitness wearable devices and high relative price performance will hinder the growth of smart shoes, which will impose a challenge to the growth of the smart shoes market in terms of relative price performance.
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Global Smart Shoes Market – Vendor Landscape
Technavio has extensively analyzed 15 major vendors, including adidas AG, Alegria Shoe Shop, Alegria Shoes, DIGITSOLE, Ducere Technologies, FeetMe Devices, Indiegogo Inc., Li Ning Co. Ltd., Nike Inc., PUMA SE, Retisense Inc., SALTED Co. Ltd., Sensoria Inc., Sole PowerTech, Under Armour Inc., VIVOBAREFOOT Ltd., Xiaomi Inc., and Zhor Tech.
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Global Smart Shoes Market - Segmentation Assessment
Segment Overview
Technavio has segmented the market based on end-user (adults, senior citizens, users with disability, and kids) and distribution channels (offline and online).
- The adult segment will account for a significant share of the market growth during the forecast period. Factors driving the demand for smart shoes in the adult segment are the growing acceptance among athletes and the number of adult sports activities organized around the world. The growing demand from recreational users who play different sports and increased government support for adult tournaments and championships in developed and developing countries, especially in APAC, such as China and India, are also driving the segment's growth.
Geography Overview
By geography, the global smart shoes market is segmented into North America, Europe, APAC, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global smart shoes market.
- North America is estimated to contribute 40% to the growth of the global market during the forecast period. The high disposable income in the region adds to the growing purchasing power, which influences lifestyles and several other consumer choices. There has been a growing interest in fashion, lifestyle, fitness activities, sports, and athletics. Premium technology is also widely accepted in the region, favoring smart devices such as smart shoes. The rising health consciousness also supports the smart shoes market in North America, which is expected to grow at a steady rate during the forecast period.
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What are the key data covered in this Smart Shoes Market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the smart shoes market between 2022 and 2026
- Precise estimation of the smart shoes market size and its contribution to the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the smart shoes market across North America, Europe, APAC, South America, and Middle East and Africa
- A thorough analysis of the market's competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of smart shoes market vendors
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Smart Shoes Market Scope |
|
Report Coverage |
Details |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 24.78% |
Market growth 2022-2026 |
USD 587.87 million |
Market structure |
Fragmented |
YoY growth 2021-2022 (%) |
24.4 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 40% |
Key countries |
US, China, UK, France, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
adidas AG, Alegria Shoe Shop, Alegria Shoes, DIGITSOLE, Ducere Technologies, FeetMe Devices, Indiegogo Inc., Li Ning Co. Ltd., Nike Inc., PUMA SE, Retisense Inc., SALTED Co. Ltd., Sensoria Inc., Sole PowerTech, Under Armour Inc., VIVOBAREFOOT Ltd., Xiaomi Inc., and Zhor Tech |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Browse for Technavio Consumer Discretionary Market reports
Table of contents
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Distribution Channel
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 13: Market segments
- 3.3 Market size 2021
- 3.4 Market outlook: Forecast for 2021-2026
- Exhibit 14: Chart on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 15: Data Table on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 16: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 17: Data Table on Global Market: Year-over-year growth 2021-2026 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 18: Five forces analysis - Comparison between2021 and 2026
- 4.2 Bargaining power of buyers
- Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
- 4.3 Bargaining power of suppliers
- Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
- 4.4 Threat of new entrants
- Exhibit 21: Threat of new entrants – Impact of key factors in 2021 and 2026
- 4.5 Threat of substitutes
- Exhibit 22: Threat of substitutes – Impact of key factors in 2021 and 2026
- 4.6 Threat of rivalry
- Exhibit 23: Threat of rivalry – Impact of key factors in 2021 and 2026
- 4.7 Market condition
- Exhibit 24: Chart on Market condition - Five forces 2021 and 2026
5 Market Segmentation by End-user
- 5.1 Market segments
- Exhibit 25: Chart on End-user - Market share 2021-2026 (%)
- Exhibit 26: Data Table on End-user - Market share 2021-2026 (%)
- 5.2 Comparison by End-user
- Exhibit 27: Chart on Comparison by End-user
- Exhibit 28: Data Table on Comparison by End-user
- 5.3 Adults - Market size and forecast 2021-2026
- Exhibit 29: Chart on Adults - Market size and forecast 2021-2026 ($ million)
- Exhibit 30: Data Table on Adults - Market size and forecast 2021-2026 ($ million)
- Exhibit 31: Chart on Adults - Year-over-year growth 2021-2026 (%)
- Exhibit 32: Data Table on Adults - Year-over-year growth 2021-2026 (%)
- 5.4 Senior citizens - Market size and forecast 2021-2026
- Exhibit 33: Chart on Senior citizens - Market size and forecast 2021-2026 ($ million)
- Exhibit 34: Data Table on Senior citizens - Market size and forecast 2021-2026 ($ million)
- Exhibit 35: Chart on Senior citizens - Year-over-year growth 2021-2026 (%)
- Exhibit 36: Data Table on Senior citizens - Year-over-year growth 2021-2026 (%)
- 5.5 Users with disability - Market size and forecast 2021-2026
- Exhibit 37: Chart on Users with disability - Market size and forecast 2021-2026 ($ million)
- Exhibit 38: Data Table on Users with disability - Market size and forecast 2021-2026 ($ million)
- Exhibit 39: Chart on Users with disability - Year-over-year growth 2021-2026 (%)
- Exhibit 40: Data Table on Users with disability - Year-over-year growth 2021-2026 (%)
- 5.6 Kids - Market size and forecast 2021-2026
- Exhibit 41: Chart on Kids - Market size and forecast 2021-2026 ($ million)
- Exhibit 42: Data Table on Kids - Market size and forecast 2021-2026 ($ million)
- Exhibit 43: Chart on Kids - Year-over-year growth 2021-2026 (%)
- Exhibit 44: Data Table on Kids - Year-over-year growth 2021-2026 (%)
- 5.7 Market opportunity by End-user
- Exhibit 45: Market opportunity by End-user ($ million)
6 Market Segmentation by Distribution Channel
- 6.1 Market segments
- Exhibit 46: Chart on Distribution Channel - Market share 2021-2026 (%)
- Exhibit 47: Data Table on Distribution Channel - Market share 2021-2026 (%)
- 6.2 Comparison by Distribution Channel
- Exhibit 48: Chart on Comparison by Distribution Channel
- Exhibit 49: Data Table on Comparison by Distribution Channel
- 6.3 Offline - Market size and forecast 2021-2026
- Exhibit 50: Chart on Offline - Market size and forecast 2021-2026 ($ million)
- Exhibit 51: Data Table on Offline - Market size and forecast 2021-2026 ($ million)
- Exhibit 52: Chart on Offline - Year-over-year growth 2021-2026 (%)
- Exhibit 53: Data Table on Offline - Year-over-year growth 2021-2026 (%)
- 6.4 Online - Market size and forecast 2021-2026
- Exhibit 54: Chart on Online - Market size and forecast 2021-2026 ($ million)
- Exhibit 55: Data Table on Online - Market size and forecast 2021-2026 ($ million)
- Exhibit 56: Chart on Online - Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on Online - Year-over-year growth 2021-2026 (%)
- 6.5 Market opportunity by Distribution Channel
- Exhibit 58: Market opportunity by Distribution Channel ($ million)
7 Customer Landscape
- 7.1 Customer landscape overview
- Exhibit 59: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
8 Geographic Landscape
- 8.1 Geographic segmentation
- Exhibit 60: Chart on Market share by geography 2021-2026 (%)
- Exhibit 61: Data Table on Market share by geography 2021-2026 (%)
- 8.2 Geographic comparison
- Exhibit 62: Chart on Geographic comparison
- Exhibit 63: Data Table on Geographic comparison
- 8.3 North America - Market size and forecast 2021-2026
- Exhibit 64: Chart on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 65: Data Table on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 66: Chart on North America - Year-over-year growth 2021-2026 (%)
- Exhibit 67: Data Table on North America - Year-over-year growth 2021-2026 (%)
- 8.4 Europe - Market size and forecast 2021-2026
- Exhibit 68: Chart on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 69: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 70: Chart on Europe - Year-over-year growth 2021-2026 (%)
- Exhibit 71: Data Table on Europe - Year-over-year growth 2021-2026 (%)
- 8.5 APAC - Market size and forecast 2021-2026
- Exhibit 72: Chart on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 73: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 74: Chart on APAC - Year-over-year growth 2021-2026 (%)
- Exhibit 75: Data Table on APAC - Year-over-year growth 2021-2026 (%)
- 8.6 South America - Market size and forecast 2021-2026
- Exhibit 76: Chart on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 77: Data Table on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 78: Chart on South America - Year-over-year growth 2021-2026 (%)
- Exhibit 79: Data Table on South America - Year-over-year growth 2021-2026 (%)
- 8.7 Middle East and Africa - Market size and forecast 2021-2026
- Exhibit 80: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 81: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 82: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- Exhibit 83: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- 8.8 US - Market size and forecast 2021-2026
- Exhibit 84: Chart on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 85: Data Table on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 86: Chart on US - Year-over-year growth 2021-2026 (%)
- Exhibit 87: Data Table on US - Year-over-year growth 2021-2026 (%)
- 8.9 UK - Market size and forecast 2021-2026
- Exhibit 88: Chart on UK - Market size and forecast 2021-2026 ($ million)
- Exhibit 89: Data Table on UK - Market size and forecast 2021-2026 ($ million)
- Exhibit 90: Chart on UK - Year-over-year growth 2021-2026 (%)
- Exhibit 91: Data Table on UK - Year-over-year growth 2021-2026 (%)
- 8.10 France - Market size and forecast 2021-2026
- Exhibit 92: Chart on France - Market size and forecast 2021-2026 ($ million)
- Exhibit 93: Data Table on France - Market size and forecast 2021-2026 ($ million)
- Exhibit 94: Chart on France - Year-over-year growth 2021-2026 (%)
- Exhibit 95: Data Table on France - Year-over-year growth 2021-2026 (%)
- 8.11 Germany - Market size and forecast 2021-2026
- Exhibit 96: Chart on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 97: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 98: Chart on Germany - Year-over-year growth 2021-2026 (%)
- Exhibit 99: Data Table on Germany - Year-over-year growth 2021-2026 (%)
- 8.12 China - Market size and forecast 2021-2026
- Exhibit 100: Chart on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 101: Data Table on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 102: Chart on China - Year-over-year growth 2021-2026 (%)
- Exhibit 103: Data Table on China - Year-over-year growth 2021-2026 (%)
- 8.13 Market opportunity by geography
- Exhibit 104: Market opportunity by geography ($ million)
9 Drivers, Challenges, and Trends
- 9.1 Market drivers
- 9.2 Market challenges
- 9.3 Impact of drivers and challenges
- Exhibit 105: Impact of drivers and challenges in 2021 and 2026
- 9.4 Market trends
10 Vendor Landscape
- 10.1 Overview
- 10.2 Vendor landscape
- Exhibit 106: Overview on Criticality of inputs and Factors of differentiation
- 10.3 Landscape disruption
- Exhibit 107: Overview on factors of disruption
- 10.4 Industry risks
- Exhibit 108: Impact of key risks on business
11 Vendor Analysis
- 11.1 Vendors covered
- Exhibit 109: Vendors covered
- 11.2 Market positioning of vendors
- Exhibit 110: Matrix on vendor position and classification
- 11.3 adidas AG
- Exhibit 111: adidas AG - Overview
- Exhibit 112: adidas AG - Business segments
- Exhibit 113: adidas AG - Key news
- Exhibit 114: adidas AG - Key offerings
- Exhibit 115: adidas AG - Segment focus
- 11.4 Alegria Shoes
- Exhibit 116: Alegria Shoes - Overview
- Exhibit 117: Alegria Shoes - Product / Service
- Exhibit 118: Alegria Shoes - Key offerings
- 11.5 DIGITSOLE
- Exhibit 119: DIGITSOLE - Overview
- Exhibit 120: DIGITSOLE - Product / Service
- Exhibit 121: DIGITSOLE - Key offerings
- 11.6 Nike Inc.
- Exhibit 122: Nike Inc. - Overview
- Exhibit 123: Nike Inc. - Business segments
- Exhibit 124: Nike Inc. - Key news
- Exhibit 125: Nike Inc. - Key offerings
- Exhibit 126: Nike Inc. - Segment focus
- 11.7 PUMA SE
- Exhibit 127: PUMA SE - Overview
- Exhibit 128: PUMA SE - Business segments
- Exhibit 129: PUMA SE - Key news
- Exhibit 130: PUMA SE - Key offerings
- Exhibit 131: PUMA SE - Segment focus
- 11.8 SALTED Co. Ltd.
- Exhibit 132: SALTED Co. Ltd. - Overview
- Exhibit 133: SALTED Co. Ltd. - Product / Service
- Exhibit 134: SALTED Co. Ltd. - Key offerings
- 11.9 Under Armour Inc.
- Exhibit 135: Under Armour Inc. - Overview
- Exhibit 136: Under Armour Inc. - Business segments
- Exhibit 137: Under Armour Inc. - Key offerings
- Exhibit 138: Under Armour Inc. - Segment focus
- 11.10 VIVOBAREFOOT Ltd.
- Exhibit 139: VIVOBAREFOOT Ltd. - Overview
- Exhibit 140: VIVOBAREFOOT Ltd. - Product / Service
- Exhibit 141: VIVOBAREFOOT Ltd. - Key offerings
- 11.11 Xiaomi Inc.
- Exhibit 142: Xiaomi Inc. - Overview
- Exhibit 143: Xiaomi Inc. - Business segments
- Exhibit 144: Xiaomi Inc. - Key news
- Exhibit 145: Xiaomi Inc. - Key offerings
- Exhibit 146: Xiaomi Inc. - Segment focus
- 11.12 Zhor Tech
- Exhibit 147: Zhor Tech - Overview
- Exhibit 148: Zhor Tech - Product / Service
- Exhibit 149: Zhor Tech - Key offerings
12 Appendix
- 12.1 Scope of the report
- 12.2 Inclusions and exclusions checklist
- Exhibit 150: Inclusions checklist
- Exhibit 151: Exclusions checklist
- 12.3 Currency conversion rates for US$
- Exhibit 152: Currency conversion rates for US$
- 12.4 Research methodology
- Exhibit 153: Research methodology
- Exhibit 154: Validation techniques employed for market sizing
- Exhibit 155: Information sources
- 12.5 List of abbreviations
- Exhibit 156: List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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