Step-counting shoes are devices with sensors that help measure steps and distance travelled by an individual. Step-counting shoes are embedded with sensors that help in tracking the data related to walking and running. These types of smart shoes are ideally connected to smartphones for enhancing the user experience. Popular brands such as Nike have recently developed basketball shoes that can tighten or loosen by themselves to fit the feet of an individual. These shoes use apps or buttons on soles to adjust the tightness. They also help in counting of steps, navigation, and monitoring of overall health. Several startups based in Asia are coming up with smart shoes with latest technological advancements to track and monitor the overall health.
The global step-counting shoes market is anticipated to expand at a significant rate in the near future. Increasing adoption of smart wearables amongst people is one of the key factors driving the demand for step-counting shoes. Integration of smart technologies with the addition of sensors for step counting has also resulted in increase in the demand for step-counting shoes. Furthermore, increase in the popularity of fashionable wearables that fulfill needs in terms of both fashion and function is anticipated to fuel the demand for step-counting shoes worldwide in the near future. Moreover, step-counting shoes also come with other sensors for analyzing speed, acceleration, calories burned, distance travelled, cadence, etc. All these features also augment the demand for step-counting shoes. Furthermore, increase in the disposable income has been another key factor driving the step-counting shoes market. With the advent of e-commerce platforms, manufacturers have expanded their geographical presence by selling their products overseas. This is another key factor promoting growth of the step-counting shoes market. However, constant price war led by high concentration of players in the market is one of the key restraining factors for the global step-counting shoes market. Moreover, technological innovation for IoT enabled shoes is very slow and this restraints the fast growth of step-counting shoes. Furthermore, step-counting shoes are expensive in nature and currently is not feasible for mass market. This is another prime reason that restraints the growth of step-counting shoes market.
The global step-counting shoes market can be segmented based on product, end-user, distribution channel, and region. Based on product, the global market can be classified into step-counting shoes, positioning shoes, navigation shoes, and others. Based on end-use, the market can be divided into men, women, and kids. Based on distribution channel, the global step-counting shoes market can be segmented into online and offline. The online segment can be sub-categorized into company-owned portals and e-commerce sites, whereas the offline segment can be sub-classified into supermarkets & hypermarkets, specialty stores, and retail-based stores. In terms of region, the global step-counting shoes market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America and Europe are anticipated to hold a major market share during the forecast period, owing to presence of numerous players and rising demand for high-end technology solutions and services in these regions.
Prominent players operating in the global step-counting shoes market are Nike, Inc. (the U.S.), Puma SE (Germany), Li-Ning Company Limited (China), Salted Venture Inc. (South Korea), Under Armour, Inc. (the U.S.), Digitsole (the U.K.), Powerlace Technology Inc. (Canada), and SolePower (the U.S.). Players compete among themselves in terms of new product designs and advancements in technology in order to gain a competitive edge in the market. Advancements in technology and strong geographical presence play an important role in gaining a competitive edge in the market.
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