The global smart shoes market is expected to post a CAGR of almost 23% during the period 2018-2022, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global smart shoes market 2018-2022. (Graphic: Business Wire)
The popularity of fitness activities is leading vendors in the global smart shoes market to invest in cutting-edge technological innovations. Products such as step-counting shoes are gaining popularity among consumers as it helps them monitor and plan their physical activity. This is leading vendors to market their products as premium variants and adopt effective branding strategies to retain and expand their customer base. Branding is crucial as most existing players offer products with relatively similar features. Also, the global recognition of a brand logo implies wider acceptance of the brand, which helps in retaining the market position of the brand. This will accelerate the demand for premium products and help market players increase their revenues.
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As per Technavio, strategic partnerships will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will affect market growth over 2018-2022.
Global Smart Shoes Market: Strategic Partnerships
Vendors in the market are forming strategic alliances with technology giants to develop smart shoes with various features. For instance, in 2017, Li Ning collaborated with Xiaomi to launch smart shoes equipped with military-grade motion sensors. Similarly, in 2017, Brooks collaborated with HP to introduce personalized running shoes based on foot biomechanics. This trend is expected to boost the growth of the global smart shoes market during the forecast period.
“The growing provision of personalized fitness coaching and the increased use of wearable devices in sports analytics will further boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Smart Shoes Market: Segmentation Analysis
This market report segments the global smart shoes market by function (step-counting smart-shoes, positioning smart shoes, navigation smart shoes, and auto-tightening smart shoes), end-users (adults, senior citizens, users with disability, and kids), distribution channel (online and offline), and geography (Americas, EMEA, and APAC)
The Americas region led the market in 2017, followed by EMEA and APAC, respectively. During the forecast period, the Americas region is expected to maintain its dominance over the market.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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