Artificial Intelligence-Based Shoe Market 2024 Latest Insights, Growth Rate, Future Trends And Forecast | Key Players : Nike Inc., Adidas AG, Puma SE, Under Armour Inc., Asics Corp., Deckers Outdoor Corporation

"The artificial intelligence-based shoes market size has grown exponentially in recent years. It will grow from $229.27 billion in 2023 to $277.26 billion in 2024 at a compound annual growth rate (CAGR) of 20.9%. The growth in the historic period can be attributed to rising demand for cloud integration, increasing complexity of it environments, cost efficiency and operational optimization, business process automation, globalization of businesses.

The artificial intelligence-based shoes market size is expected to see rapid growth in the next few years. It will grow to $551.86 billion in 2028 at a compound annual growth rate (CAGR) of 18.8%. The growth in the forecast period can be attributed to ai and machine learning integration, security and compliance concerns, iot integration, real-time data integration, hybrid and multi-cloud integration. Major trends in the forecast period include cybersecurity integration, focus on user experience, technological advancements, event-driven architecture, low-code/no-code integration.

Market Overview -
Artificial intelligence-based shoes are footwear equipped with AI technology to provide personalized comfort and performance-enhancing features, such as automatic adjustments to fit and gait analysis. These shoes can be integrated with sensors and data-processing capabilities to track and analyze various aspects of physical activity.

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Growing Popularity Of Sports Activities
The growing popularity of sports activities is expected to propel the growth of the artificial intelligence-based shoes market going forward. Sports activities encompass a wide range of physical pursuits, including organized games, exercises, and competitions that involve physical exertion and skill. Artificial intelligence-based shoes are primarily used to enhance athlete performance through real-time data analysis and personalized adjustments during sports activities. For instance, in January 2022, according to Football Australia, an Australia-based governing body of football, total participation in outdoor football had increased from 1,181,931 to 1,421,804 participants nationwide in 2021, representing an increase of 20% year on year. Further, football engagement in schools increased by 151,088 (64%), with 44,380 of those students participating in sports at their schools and 116,882 participating in interschool competitions. Therefore, the growing popularity of sports activities is driving the growth of the artificial intelligence-based shoes market.

Competitive Landscape -
Major companies operating in the artificial intelligence-based shoe market report are Nike Inc., Adidas AG, Puma SE, Under Armour Inc., Asics Corp., Deckers Outdoor Corporation, Wolverine World Wide Inc., Reebok International Ltd., Mizuno Corporation, Brooks Sports Inc., Salomon SAS, Patagonia Inc., Vivobarefoot Limited, Ajanta Shoe Private Limited, Orpyx Medical Technologies Inc., Scott Sports SA, La Sportiva NA Inc., Shift Robotics, Digitsole, Sensoria Health Inc., ShiftWear, Wiivv Wearables Inc., Altra Torin IQ, Salted Venture , Lumo

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