The global smart shoe market size was US$ 148.9 million in 2021. The global smart shoe market size is forecast to reach US$ 320.7 million by 2030, growing at a compound annual growth rate (CAGR) of 8.9% during the forecast period from 2022 to 2030.
In order to give the wearer features and specifications that are out of this world, smart shoes use smart technology in which the shoe insoles are digitally connected. This elevates smart shoes above being just another sort of shoe. Services that facilitate the end user's daily duties are offered through wearable or digitally connected objects. These smart shoes also feature self-lacing technology and a navigation tracker. Additionally, they help track the user's physical performance, which increases their appeal in the sports industry. When someone is walking or running, it makes it easier to keep an eye on them physically. It can display data like calories burned, heart rate, and net distance traveled.
Factors Influencing Market Growth
The growing popularity of smart wearables linked to improved participation in sports and fitness activities drives the global market.
The rising demand for health analytics monitoring and assessment boosts the global market growth.
The increased cost and availability of replacements may slow down the overall market growth.
The rise in technological advancements in traditional shoes to boost comfort, convenience, and health is forecast to offer lucrative opportunities for the global market.
Impact Analysis of COVID-19
The COVID-19 pandemic had a negative impact on the global market. Several governments worldwide imposed a lockdown in order to curb the virus from spreading. This led to the closure of various footwear shops. In addition, the limited availability of workers, reduced demand, increased manufacturing costs, and a lack of raw materials has affected the market growth. Additionally, the closure of gyms and offices reduced the demand for smart shoes, which had a negative impact on the market.
Regional Analysis
The Asia Pacific region garnered a substantial market share in 2021 and is forecast to remain dominant during the forecast period. As a result of the growing urban population and adoption of fitness activities. In addition, the rising fitness industry implies high investment in body exercising and body-enhancing products. Additionally, accessibility of advanced and innovative products and growing awareness regarding different sports.
North America is forecast to have considerable growth during the forecast period. As a result of the increased consumer inclination toward fitness and healthy lifestyle and the existence of leading professional competitors.
Leading Competitors
The leading prominent companies profiled in the global smart shoe market are:
Adidas Ag (Adidas)
Digitsole
Nike, Inc. (Nike)
Puma Se (Kering)
Salted Venture
Traqshoes
Under Armour, Inc.
Vivobarefoot Limited
Xiaomi Corporation
Zhor-Tech
Other Prominent Players
Scope of the Report
The global smart shoe market segmentation focuses on Product Type, End User, Distribution Channel, and Region.
Segmentation based on Product Type
Smart Walking Shoes
Smart Running Shoes
Smart Sports Shoes
Segmentation based on End User
Men
Women
Segmentation based on Distribution Channel
Supermarket/Hypermarket
Specialty Store
Online Store
Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
Meta Title: Smart Shoe Market Size, Share, Insight, and Forecast 2022 to 2030
Meta Description: Global Smart Shoe Market is projected to reach US$ 320.7 million by the end of 2030 from US$ 148.9 million in 2021, at a CAGR of 8.9%
Meta Keywords: smart shoe market Size, smart shoe market share, smart shoe market trend, smart shoe market Forecast, smart shoe market insight
