Cyber-shoes Market Sales Revenue, Grow Pricing and Industry Growth Analysis 20271T

Cyber-shoes Market - Introduction

Cyber-shoes are a virtual reality (VR) accessory that allows players to control & manage their physical movement by utilizing their legs or feet. Cyber-shoes help to walk in virtual reality and enhance the immersive capability by allowing players to control their gameplay via natural movement.

Cyber-shoes are well suited with any VR game, and compatible with different applications such as gaming, physical rehab programs, and construction or architecture preview. Moreover, it utilizes motion controllers or touchpads such as Pimax, Oculus, and Microsoft Mixed Reality through the steam platform.

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Cyber-shoes GMBH is the first company to develop the idea of walking in a VR standing solution and then they decided to manufacture cyber-shoes in 2016. In 2017, the company started a prototype and sent it for testing at the end of 2018. After the successful testing of the cyber-shoes, the company showcased the world's first cyber-shoes prototype at CES Las Vegas in 2019 and started the production of cyber-shoes, selling it in different countries across the world.

Continuous technological developments in the gaming industry driving the cyber-shoes market

The video gaming industry which is currently in its eighth generation has come a long way in terms of the processing technology. New gaming technologies such as AR & VR are rapidly influencing the consumer toward gaming. Mobile phones offer a much cheaper platform for gaming, and with VR peripherals such as the Google Cardboard, smartphones can turn into VR gaming devices. The major players have come up with VR supporting consoles and peripherals in 2018, and signifies how the gaming market has geared up for the advent of the new technology, significantly increasing the demand for cyber-shoes worldwide.

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Sony Corp. launched its PlayStation VR in 2016, which is a virtual reality head mounted display fully supported by PlayStation 4, an eighth generation home video game console. From 2015 till date, numerous start-ups have joined the business of developing virtual reality wearable. The devices are being launched in a phased manner in few countries initially. Therefore, continuous technological development in the gaming industry significantly drives the demand for cyber-shoes worldwide.

Lack of awareness and high cost of technology hampering the growth of the cyber-shoes market

The current technology has a very small consumer base. Market potential to expand the consumer base exists; however, adoption of the technology by people remains a challenge. Additionally, the high prices highlight the steep entry cost for a supplier to enter the cyber-shoes market.

Asia Pacific Expected to Hold Major Share of the Global Cyber-shoes Market

In terms of region, the global cyber-shoes market can be segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
Asia Pacific is expected to hold major share of the global cyber-shoes market due to huge customer presence of the gaming industry as well as increasing presence of gaming companies in the region.

Europe is expected to be the fastest growing region in the global cyber-shoes market due to growing physical rehab centers specifically in the U.K, France, Spain, and other European countries.

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