Global Self-lacing Shoes Market – Introduction
- Self-lacing shoes are technology-equipped shoes designed to automatically tighten once an individual puts them on. Self-lacing shoes are also termed as self-tying shoes and power laces. Furthermore, these shoes are introducing features such as self-tightening, heating, and shock-absorbing shoe. Self-lacing shoes are majorly purchased by professional athletes, basketball players, and differently-abled individuals.
- Nike has launched its range of self-lacing shoes named Adapt BB and HyperAdapt 1.0 in the self-lacing shoes market. Puma has introduced its fit intelligence, wirelessly connected self-lacing shoes called AutoDisc.
Rise in Trend of Using Bluetooth-enabled and Application-driven Smart Shoes to Drive the Self-lacing Shoes Market
- Rapid increase in demand for Bluetooth-enabled and application-driven smart shoes is projected to be a driving factor for the self-lacing shoes market. Professional sportspersons such as basketball players, marathon runners, and athletes use these innovative and tech-embedded shoes to keep daily track of their fitness regimen. Moreover, self-lacing shoes are very convenient for differently-abled individuals and senior citizens. Technology plays a vital role in the production process of such products. Brands have to undertake advancement in their technology to be competitive in the marketplace.
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Lack of Awareness and High Cost of Shoes to Hamper the Self-lacing Shoes Market in the Near Future
- Lack of awareness about self-lacing shoes in various emerging economies across the world is anticipated to restrict the growth of these shoes during the forecast period. The product is very expensive in terms of pricing. Furthermore, it is unavailable in specialty stores and multi-brand retail outlets in various emerging economies. These factors negatively impact the sale of self-lacing shoes in various parts of the globe. Moreover, companies spend heavy amounts on research & development to ensure advancement in technology of self-lacing shoes, which in turn is likely to increase the overall cost of production of these shoes.
North America and Europe Hold Major Share in the Global Self-lacing Shoes Market
- Geographically, the global self-lacing shoes market can be divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America
- North America and Europe held majority of market in the global self-lacing shoes market in 2018. The self-lacing shoes market in North America and Europe is projected to expand in a rapid manner in the near future due to rise in usage of self-lacing shoes by professional athletes and basketball players in countries such as the U.S., Canada, Mexico, the U.K., Germany, and France as well as other countries in Europe.
- Furthermore, the market in Asia Pacific is projected to expand at a significant growth rate during the forecast period. Rise in demand for Bluetooth-enabled and application-driven self-lacing shoes in China, India, and Japan is expected to surge the demand for self-lacing shoes in the Asia Pacific region.
Key Players Operating in the Self-lacing Shoes Market
Major manufacturers are anticipated to face tough competition during the forecast period. Brands such as Nike Inc., PUMA SE, Powerlace Technology Inc., and Digitsole focus on innovation of new self-lacing shoes to strengthen their product portfolio and drive the sales of self-lacing shoes in the global self-lacing shoes market. Nike Inc. offer self-lacing shoes named Adapt BB and HyperAdapt 1.0. These are Bluetooth-enabled self-lacing sneakers which offer auto-lacing and adapts to wearers’ feet. Adapt BB was first used at the NBA basketball court by Jayson Tatum. A few of the key players operating in the global self-lacing shoes market are:
- Nike Inc.
- PUMA SE
- Powerlace Technology Inc.
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Global Self-lacing Shoes Market – Research Scope
Global Self-lacing Shoes Market, by Type
Global Self-lacing Shoes Market, by Application
- Professional Sports & Athletics
- Fitness & Gym
- Others (physically challenged etc.)
Global Self-lacing Shoes Market, by End-user
Global Self-lacing Shoes Market, by Distribution Channel
- Specialty Stores
- Multi-brand Stores
- Company-owned Website
- E-commerce Websites
Global Self-lacing Shoes Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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