Global Smart Shoes Market: Overview
Product innovation and cutting-edge technologies have been at the forefront of driving the trend of smart wearables. It has thus been quite influential in driving the growth of the global smart shoes market as well. The concept of ‘convenience’ has been added to the traditional footwear features such as comfort and fashion. Smart shoes allow accurate calculation of steps and burning of calories. They help in proper navigation as well. Smart shoes have several new features such as Wi-Fi hotspot, self-lacing technology, and GPS among others. With such ‘larger than life’ features, smart shoes have certainly moved on from being just regular footwear.
Global Smart Shoes Market: Notable Developments
Some of the key players in the global smart shoes market include names such as Adidas AG, TRAQShoe, Xiaomi Corporation, Nike Inc., Salted Venture, and Puma SE among others.
Some of the notable developments in the global smart shoes market are listed below:
- In June 2019, Nike launched a new series of shoes in the market called the ‘Adapt BB’ The shoes have features such as self-lacing that can be controlled through an app on the user’s smartphone.
- In February 2019, Xiaomi Corporation announced that the company is now ready to launch its highly anticipated smart shoes series in India. The expected launch date is yet to be revealed. However, it is largely projected that the series will be a successor the hugely popular Mijia Sneakers. The current smart shoes series Mijia Sneakers 2 is readily available in the China market.
- In January 2019, Puma SE announced that it was launching self-lacing training shoes. The company used the brand new Fit Intelligence (Fi) technology platform to fine-tune and automate the Puma footwear for enhanced performance.
Is something restraining your company’s growth in the Smart Shoes Market? Ask for the Report Brochure
Global Smart Shoes Market: Drivers and Restraints
Some of the key driving factors for the growth of the global smart shoes market are listed below:
- Increasing health awareness: People across the globe are becoming more and more health-conscious. This has led to a large number of people adopting a strict workout regime and fitness programs. This has ultimately led to increasing sales of shoes across the globe. Naturally, such a trend is also helping to fuel the growth of the global smart shoes market.
- Technological Advancements: Continuing from the point above, people are also more inclined towards keeping track of their fitness activities and workout programs. This trend coupled with constant technological advancements has helped in increasing the popularity of smart shoes among the masses. Users can now track their position, calorie meter, and steps with the help of smart shoes.
- Brand awareness and changing lifestyles: Key players in the market have been able to establish a loyal consumer base for themselves. Growing brand awareness activities, promotions, and product launches are helping to keep customers enticed and curious. Coupled with this, the changing lifestyles of the end-users and rise in their disposable income have also helped the notable brands to market their new products. This has thus helped in fueling the growth of the market.
Global Smart Shoes Market: Geographical Outlook
The global smart shoes market can be segmented into key regions such as Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. Of these, the global market has been primarily dominated by North America. The key reasons behind this the early access to the latest technologies and products and growing health awareness among the end-users. The Asia Pacific market is expected to show a high growth rate in the coming years on account of the rapidly evolving lifestyles in emerging economies such as India and China.
Looking for Regional Analysis or Competitive Landscape in Smart Shoes Market, ask for a customized report
Smart Shoes Key Market Segments:
By Product Type
- Smart Walking Shoes
- Smart Running Shoes
- Smart Sports Shoes
By End Use
By Distribution Channel
- Specialty Store
- Online Store
This intelligence report by TMR is the outcome of intense study and rigorous assessment of various dynamics shaping the growth of the market. TMR nurtures a close-knit team of analysts, strategists, and industry experts who offer clients tools, methodologies, and frameworks to make smarter decisions. Our objective, insights, and actionable analytics provide CXOs and executives to advance their mission-critical priorities with confidence.
The scrutiny of the various forces impacting the dynamics of the market, and key and associated industries, guides enterprises in understanding various consumer propositions. Our clients leverage these insights and perspectives to enhance customer experience in the fast-paced business environment.
All our insights and perspectives are broadly based on 4 Pillars or Stages: ASBC-S, which offer an elaborate and customizable framework for the success of an organization. The essence and the roles of these in organizational successes are highlighted below:
- Agenda for CXOs: TMR, through the study, sets the tone for agendas that are pertinent to CEOs, CFOs, CIOs, and other CXO executives of businesses operating in the market. The perspectives help our clients to bridge the gap between agenda and action plan. TMR strives to offer guidance to CXOs to undertake mission-critical activities empowered by various business analysis tools, and boost the performance of the organizations. The perspectives guide you to decide on your own marketing mix that align well with the policies, visions, and mission.
- Strategic Frameworks: The study offers how organizations are setting both short-term and long-term strategic plans. Our team of experts collaborate and communicate with you to understand these to make your organizations sustainable and resilient during tough times. The insights help them decide sustainable competitive advantage for each business units.
- Benchmarking for Deciding Target Markets and Brand Positioning: The assessments in the study provides a scrutiny of marketing channels and marketing mix. Our various teams work synergistically with you to help identify your actual and potential direct, indirect, and budget competition areas. Additionally, the study helps you decide most effective budgets for various processes and promotional activities. Furthermore, the study guides you to set benchmarks for integrating people and processes with the 4Ps of marketing. Eventually, this will empower you to find out unique propositioning strategies and niches.
- Business Composability for Sustainability (C-S): Constant strategy planning for sustainability characterizing our C-S framework in the report has become more relevant than before in the face of disruptions caused by pandemics, recessions, boom and bust cycles, and changing geopolitical scenario. The TMR study offers a high level of customization to help you achieve business composability. Composable enterprises are increasingly gaining the attention of CXOs in order to help them combat market volatility. Our analysts and industry experts help you wade through such uncertainties and guide you to become a smart sustainable business in entirety.
The study presents scrutiny of region-specific consumer and technology trends, including the most recent industry dynamics. These broadly cover but not limited to
- North America, South America, and the Americas
- Asia Pacific and Japan
- Latin America
- Middle East and Africa
The study offers data-driven insights and guidance of several aspects. Some of the more notable questions are:
- What are the major recent trends that can influence the product life cycle and the RoI?
- Which regulatory trends shape corporate-level, business-level, and functional-level strategies?
- Which micromarketing initiatives of leading players will bring in investments?
- What can be the best framework and tools for PESTLE analysis?
- Which regions will witness rise in new opportunities?
- Which are the game-changing technologies being used to capture new revenue streams in the near future?
- Which operational and tactical frameworks are being adopted by various players in gaining customer loyalty?
- What is the current and expected intensity of competition the market in the near future?
With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.
TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.
Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:
Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.
Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.
Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.
Disclaimer: This market research study is an ongoing effort and extreme care has been taken to maintain the highest levels of accuracy at all stages. However, in the light of the rapidly evolving business dynamics, some region-specific or other segment-specific changes may take time to be part of the study.