With a CAGR of 9.2%, the smart footwear market size will reach USD 285.1 million by 2028, according to Brandessence Market Research
LONDON, February 14, 2022 /PRNewswire/ — The World smart shoes market in terms of income was worth $153.9 million in 2021 and is expected to reach $285.1 million in 2028, growing at a CAGR of 9.2% from 2021 to 2028.
The growing adoption of smart shoes in the sports industry is one of the major factors driving the growth of the global smart shoes market”Smart Footwear Market Size, Share and Trend Analysis Report Smart Footwear Market Size, Share and Trend Analysis Report by Product Type (Smart Walking Shoes, Smart Running, Smart Sports Shoes), by Distribution Channel (Hypermarket/Supermarket, Specialty Stores, Online Stores), by End Users (Men, Women) based on Region and Segment Forecast, 2022 – 2028 based on Region and Segment Forecast, 2022 – 2028“
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Scope of Smart Shoes Market Report:
Rapid digitization is driving new technological developments around the world. The smart shoe enabled smart technology which is paired with a mobile app. Fluctuating from proof of physical health attributes to evaluation of health benefits, smart shoes empower wearers to have personalized feedback. Smart shoes allow accurate calculation of steps and calorie burn. They also help in correct navigation. The smart shoe mobile app tells the user when and where to turn to reach their final destination using Google maps or any other map app.
News: Startup Swinburne uses smart shoe sensors to detect health issues:
At August 31and, 2021; SensFit Technologies, a new startup led by Swinburne, has created a smart shoe with built-in sensors that could improve quality of life for older adults through early detection of diabetic ulcers, dementia and other physical activity issues .
Scientists develop smart shoe that helps blind people avoid obstacles and escape ‘nasty bruises’: At August 23rd, 2021- Computer scientists have created a smart shoe that helps blind and visually impaired people avoid many obstacles. This shoe known as InnoMake includes waterproof ultrasonic sensors involved at the tip of each shoe. Whenever it encounters obstacles, the sensors send out vibrations or emit sounds to signal the wearer.
Smart shoe companies:
- Adidas S.A.
- Salty business
- Under Armor Inc.
- Vivobarefoot Limited
- Xiaomi Corporation
- Digital sole
- Nike Inc.
- Puma SE
- Zhor Tech.
Smart shoes provide personalized feedback to users, from sports performance measurement to fitness tracking and health metrics assessment. Smart shoes are moderately used in the sports industry, which is dynamically driving the growth of the market. Many residents participate in sports to promote good mental health as well as for other reasons. For example; according to the Bureau of Labor Statistics in 2019; approximately 19.3% of the US population played sports and exercised daily. Moreover, according to Eurostat, almost a quarter of a percentage of the population of Europe engaged in physical activity at least once a week. It is widely recognized that participation in sports is on the noticeable increase across the world which needs the smart shoe for comfort. Smart shoes are more beneficial for athletics because they improve comfort, performance, and most importantly, prevent injuries. Considering the importance of smart shoes in mind, many players are establishing new innovations in this market. Nike, Under Armor Inc., Puma, Adidas and many other companies are investing their millions for new smart shoe innovations in the sports industry. Nike, one of the biggest footwear companies in the world, has launched innovative self-lacing HyperAdapt 1.0 shoes. The Withal, HOVR Phantom and HOVR Sonic shoes were released in February 2018 by Under Armor for runners. Specifically, this factor is fruitfully boosting the growth of the global smart shoes market.
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Key regional analysis:
North America is expected to account for the largest share of the global smart shoes market due to growing technology and increasing adoption of smart shoes in this region. When it comes to innovation, the United States is at the forefront of the world. The research and development of smart sports shoes is still in its infancy. However, a number of major players in this region are investing in smart sports shoes with smart tracker and many other innovations. For example; in January 2019, Nike has announced a new Nike Adapt BB basketball shoe that uses a power lacing system intended to robotically tighten and loosen around a foot based on the athlete’s movement. Additionally, Under Armor had launched HOVR Phantom and HOVT Sonic Shoes in February 2019 which has built-in sensors to record a number of important metrics for runners. Smart shoes have revolutionized the next period of shoes with an emphatic summary of technology and are gaining traction with consumers, especially in North America. Hence, such technological developments make this region more dominant in the global smart shoes market.
Europe is the other fastest growing region in the growth of the smart shoes market owing to the growing awareness of the smart shoes market among European countries. Organizations and many players are heavily investing their time, R&D, and money in this market to maintain their position in the competitive landscape. Indeed, the shoes incorporate an exclusive lace industrialized in collaboration with textile specialists from the Advanced Textiles Research Group (ATRG) in Nottingham Trent University. These laces feature small light-emitting diodes (LEDs), illuminating to advance wearer safety; ultimate for joggers, cyclists and defense and security personnel in dark environments. Alongside the above collaboration, EasyJet, the British low-cost airline based in London, imagined the future of travel with a smart new shoe. He walked through Europe easier and less time consuming. Courtesy towards smart shoes has surged among Europeans due to so many points. This is the reason why Europe is growing at the fastest pace in the world in the smart shoe market.
The Special Requirement Smart Shoes Market report is also available for the region below:
- Rest of Europe
- South Korea
- Rest of APAC
- Rest of South America
Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- South Africa
- Rest of MEA
Get full access to all reports: https://brandessenceresearch.com/consumer-goods/smart-shoes-market-growth
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