Smart Shoes Market Competitive Analysis and Pandemic Impact Analysis of Demand 2021-2030

The Global Smart Shoes Market size is estimated to be USD 125.5 million in 2019 and is predicted to reach USD 320.7 million by 2030 with a CAGR of 8.9% from 2020-2030.

Smart Shoes consist of smart technology due to which it is digitally connected to the system which monitors the overall activities. The shoe insoles are fitted with different sensors which also improve the overall functioning of the smart shoes and make it much more to track activities. These shoes consists of different features such as GPS, adaptive technology self lacing technology and other with extreme comfort.

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Top Companies: Digitsole, Adidas AG, Nike Inc., Salted Venture, Puma SE, Under Armour Inc., Vivobarefoot Limited, TRAQshoe, Zhor-Tech and others.

Market Dynamics and Trends

Over the period of time there have been various improvements and modernization have taken place in daily life. Smart shoes market is expected to gain traction over the forecast period owing to the increased demand of smart wearable devices coupled with technological advancement and presence of developed infrastructure.

The other factors include increased adoption of smart shoes owing to the increasing sports activities coupled with increasing health concern which has increased the demand of smart shoes for batter monitoring of daily activities on a daily basis. However, high cost of smart shoes and lack of awareness in developing economies is expected hamper the overall market growth. Moreover, increase in research and development activities with innovation and product launches are further expected to create new opportunities in the smart shoes market.

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Market Segmentations and Scope of the Study:

The global smart shoes market share is analyzed on the basis of product type, distribution channel, end use and geography. On the basis of product type, the market is segmented into Smart Walking Shoes, Smart Running Shoes, and Smart Sports Shoes. Based on end use, the market is fragmented into men and women. On the basis of distribution channel, the market is divided into Supermarket/Hypermarket, Specialty Store, and Online Store. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America is expected to dominate the smart shoes market in terms of market share over the forecast period owing to the increased adoption of smart shoes. The other supportive factors include presence of developed infrastructure with technological advancement and high disposable income.

Asia Pacific is expected to show rapid growth with substantial increase in market share owing to the increased demand of smart wearable devices with increase in sport activities. Furthermore, increase in health concerns with constant monitoring of activities is further expected to enhance the growth of smart shoes market.

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