Global Smart Shoes Market By End-User (Male and Female), By Distribution Channel (Specialty Stores, Hypermarket/Supermarket, and Online), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Smart Shoes Market Overview:

The global smart shoe market was worth USD 201.8 million in 2021. It is expected to grow at a 19.2% CAGR during the forecast period.

The market is expected to grow due to the rising popularity of smart wearables that allow for increased participation in fitness and sports. The market is expected to grow due to the rising demand for technology-integrated fitness products such as smart speakers, which are used to track and evaluate health metrics.

Smart shoes are expected to grow in the smart wearables market due to technological advancements in traditional footwear that improve comfort, convenience, health, and overall health. Smart textiles and wearables will be in demand due to the growing acceptance of fitness and athleisure. Smart shoes are equipped with Bluetooth-controlled insoles and sensors that track distance, calories burned, and other biometric information. Manufacturers will be encouraged to include smart technology in their products to meet the growing demand.

Global Smart Shoes Market Scope:

End-User Analysis

With a 56.7% share of smart shoe revenue in 2021, the male segment held the largest market share. The growing trend of athleisure has led to a greater number of male customers in the footwear market.

The segment’s growth is expected to be boosted by the dominance of men in gym and sports activities. This will encourage product development. Xiaomi, for example, announced in 2019 the launch of Mijia Smart Shoes that are water-resistant and have an Intel Curie chip processor. The Mi Fit App can show the number of calories burned and distinguish between walking, running, and climbing.

From 2023 to 2032, the female segment will experience the highest CAGR at 22.1%. The segment growth is expected to be driven by increased awareness about health and fitness, as well as an increase in spending capacity. Smart products are in high demand due to the rising popularity and participation of many female sports stars at international championships and games such as the International Women’s Cricket, Olympic Games, and Grand Slam Tournaments.

Distribution Channel Analysis

In 2021, specialty stores held the largest market share at 62.1%. The segment’s growth is expected to be influenced by the increasing number of specialty stores in countries like Brazil, India, and China. Many outlets stock footwear and accessories from mass brands like Nike Inc., Under Armour, Inc., and Xiaomi. The rising trend toward catalog shopping in developed countries provides a pleasant shopping experience for consumers. This will also increase the importance of specialty store outlets.

Due to the growing influence of social media marketing and digital media, online distribution channels are expected to grow at a 22.8% annual rate from 2023 to 2032. The segment will continue to grow due to the increasing penetration of the internet in countries like India, China, and Canada. Buyer decision has been positively affected by the rise in social media advertising and promotion.

The segment is expected to grow further due to increased consumer awareness about technologically advanced products, smart wearables, and celebrity endorsements. For sports accessories, online retail channels are popular in developed countries like the U.S., Germany, and the U.K.

Маrkеt Ѕеgmеntѕ:

By End-user

• Male
• Female

By Distribution Channel

• Specialty Stores
• Hypermarket/Supermarket
• Online

Market Dynamics:

Running shoes will be in demand as more people realize the benefits of running and walking for their health and fitness. Manufacturers are focusing on smart running shoes that track stride and cadence to improve form. About 90 million Americans participated in running, running, and trail running in 2021.

Around 100 million took up walking as a form of exercise in 2021. Every year, there are more than 70,000 events for runners in the United States, including half-marathons, marathons, 5k, and 8K/5 mile races, 10k races, half-marathons, and marathons. Smart wearables, including smart shoes, will be in demand as a result of the rising participation in fitness and other sporting activities.

To meet the growing demand, manufacturers focus on product innovation and incorp
orate advanced fitness technology. In 2019, Nike Inc. released its second smart shoe, the Nike Adapt BB. It features a laceless feature that allows for advanced power-lacing systems, an app, and continuously updated firmware. Its goal is to offer comfort and fitness through power lacing via an app. Under Armour, Inc. has introduced the newest smart shoe, HOVR Sonic2, that can be paired to a smartphone and displays features like step and distance tracking and health statistics.

Regional Analysis

In 2021, North America accounted for 40% of the total market revenue. The availability of mass-brand smart shoes has led to a rise in demand online and offline for these products. The high consumer interest in fitness and healthy living, combined with the presence of leading professional competitions like the National Basketball Association, National Football Association, or National Hockey League.

Asia Pacific is expected to experience the fastest CAGR during the forecast period due to rising urban populations and increased use of fitness. The region’s demand for smart shoes will be driven by the rapid growth of the fitness industry, which means that more money is being invested in body exercise and products to enhance body performance. Smart wearables and accessories will be in high demand due to the availability of innovative and advanced products as well as increased awareness about different sports.

Кеу Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

The global market is fiercely competitive with top players like Nike Inc., Adidas AG, Under Armour Inc., Digitsole, and Puma SE, Salted Venture. To maintain their market, share, and meet changing consumer demands, the top players are constantly innovating and developing new products.

Digitsole, for example, launched smart shoes in 2021 that provided personalized feedback to analyze health, posture, calories, and fatigue. These shoes can be connected via Bluetooth to provide personalized coaching and precise data for monitoring and tracking health. This product features temperature regulation and auto-lacing. The following are some of the most prominent players in global Smart Shoes Markets:

Маrkеt Кеу Рlауеrѕ:

• Nike
• PUMA
• LіNіng
• Adidas
• АNDL
• Duсеrе Тесhnоlоgіеѕ
• Yunduо
• 361 Sport
• Under Armour
• Dарhnе
• Ѕtrіdаlуzеr
• Other Key Players

For the Smart Shoes Market research study, the following years have been considered to estimate the market size: