Product Overview

Smart shoes are a smart technology shoe in which the shoe insoles are digitally connected, making it more than just a normal shoe, making it simpler for its users with larger than life features and specifications. Wearable devices or digitally related products feature services that ease the end user's day-to-day operations. Such products are thus gaining traction among consumers, especially in North America and Europe. Besides, these smart shoes come with a navigation tracker and technology for self-lacing. They also help track the end user's physical output, thus increasing their adoption in the sports industry.

Market Highlights

Smart Shoes Market is expected to project a notable CAGR of 8.9% in 2030.

Smart Shoes Market to surpass USD 250.4 million by 2030 from USD 114.7 million in 2019 in terms of value growing at a CAGR of 8.9% throughout the forecast period, i.e., 2020-30. The rise is expected to be powered by the increased popularity of smart wearables linked to increased participation in sports and fitness activities. Increasing demand for health analytics monitoring and assessment is projected to drive the adoption of integrated fitness technology products, such as smart shoes, which in turn is expected to drive the industry. In the smart wearables market, technical developments in traditional shoes to improve comfort, convenience, and health are expected to generate growth opportunities for smart shoes. The market for smart textiles and wearables is expected to drive increased acceptance of athleisure and fitness as a way of life. To monitor the distance travelled, calories burned, and other health-specific biometric data, smart shoes have embedded sensors and Bluetooth controlled insoles. Furthermore, growing demand for sneakers is expected to enable manufacturers to introduce smart technology into the category to meet rising demand.

Smart Shoes Market: Segments

Smart Walking Shoes segment to grow with the highest CAGR of XX.X% during 2020-30

Smart Shoes Market is segmented by product type as smart walking shoe, smart running shoe and smart sports shoe. The smart running shoes segment is estimated to lead the market with a share of over XX.X% in 2019. Smart running shoes have options that allow the end-user to monitor both the distance travelled and the calories burned. This information can be accessed by customers via various linked applications on smartphones or other devices. This allows the client to keep a record of the same and thus to maintain fitness. Manufacturers are now working on innovating smart running shoes to support these clients. The product is expected to gain greater traction among sports workers and professional athletes contributing to the forecast for the worldwide smart shoes market.

Female Segment to be the fastest-growing segment with a CAGR of 20.2% during 2020-30

Smart Shoes Market is segmented by Gender into Male and Female and children. The Male segment accounted for the largest revenue share of 50.2% in 2019. To keep fit, the majority of men prefer sports. Some are also passionate about their sport and try to build a career in it or gain popularity. They need to keep track of their routine in such situations, and therefore choose smart sports shoes. Such shoes monitor their routine, keep track of the distance travelled by running or walking and protect the foot. Smart shoes for the female population, however, contribute to less scope for generating sales, since there are fewer women fitness enthusiasts. This is expected to hamper the growth of the women's worldwide smart shoe market. Growing health and fitness consciousness, combined with increased spending capacity, is expected to drive the growth of the segment. The demand for smart goods has increased through growing popularity and interest in different female sports stars through various international games and competitions such as Olympic Games, International Women's Cricket and Grand Slam Tournaments.

Smart Shoes Market: Market Dynamics

Drivers

Rising popularity towards smart wearable

Growing technology acceptance and increasing popularity for smart wearables are the variables that lead to the proliferation of the smart shoe industry. Besides, the growth of the smart shoe market over the forecast period is expected to be fueled by factors such as the fashionable look of smart shoes and growing health awareness. In both developed and most developing countries, there is an increase in the trend in health and wellness. By going to the gym, adopting a strict diet, and engaging in other healthy events, customers choose to pursue a healthy lifestyle. There is a set of customers among these health-conscious customers who have brought their method of health enhancement to the next level. To monitor progress, this group needs to maintain a regular record of activities. Smart shoes help to keep a record of the running/walking/cycling distance travelled as well as the calories expended during a workout session. These end-users thus contribute to the growth of the global market for smart shoes.

Restrain

Rising availability of counterfeit products

Improving the availability of counterfeit shoes on the market, volatile economic conditions in developed and developing countries around the world, and currency deflation are some of the main factors that restrict the growth of the global market. The recent economic crisis had a detrimental effect on global sales of smart shoes. Currency fluctuations and less brand outlets in emerging regions could be demand limiting variables. Raw materials also play a crucial role in the smart shoe sector and their prices have risen sharply in the last few years.

Smart Shoes Market: Key Players

Nike Inc.

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, and SWOT Analysis.

Li-Ning Company Limited

Adidas AG

PUMA SE

Under Armour, Inc.

361 Degrees International Limited

Daphne International Holdings limited

SOLE POWER LLC

DIGITSOLE

Ducere Technologies PVT. LTD

Smart Shoes Market: Regions

Smart Shoes Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific and Middle East and Africa.

Smart Shoes Market in North America led the market with a lion share of more than 39.2% in 2019 and is projected to maintain its lead over the forecast period. The demand for smart shoes on both online and offline platforms has increased by-product accessibility with mass brands in this area. Coupled with the involvement of some of the leading professional competitions, strong customer inclination for fitness and a safe lifestyle. In terms of product demand, the U.S. leads the global market with greater customer willingness to spend on health and body recovery goods. Due to the growing urban population and acceptance of fitness activities, Asia Pacific is projected to register the fastest CAGR over the forecast period. The regional market for smart shoes is expected to be powered by rapid growth in the fitness industry, involving increased investment in body exercise and body enhancement products. The availability of advanced and creative technologies and growing knowledge of various sports are likely to fuel the market for smart wearable products and sports accessories.

Competitive Landscape:

The Smart Shoes market, which is highly competitive, consists of several major players such as Nike Inc., Adidas AG; Under Armour Inc.; Digitsole; Puma SE; Salted Venture; TRAQshoe hold a substantial market share in the Smart Shoes market. Other players analyzed in this report are Vivobarefoot; Xiaomi Corporation Limited; and ShiftWear among others.

Smart Shoes Market is further segmented by region into:

North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada

Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America

Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe

APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and the Rest of APAC

MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA

Smart Shoes Market report also contains analysis on:

Smart Shoes Market Segments:

By Product Type:

Smart Walking Shoes

Smart Running Shoes

Smart Sports Shoes

By Gender:

Male

Female

By Mode of Sale:

Supermarket/Hypermarket

Specialty Store

Online Store

Smart Shoes Market Dynamics

Smart Shoes Market Size

Supply & Demand

Current Trends/Issues/Challenges

Competition & Companies Involved in the Market

Value Chain of the Market

Market Drivers and Restraints

FAQs on Smart Shoes Market

Which segment is anticipated to hold the largest market share

At what CAGR is the market anticipated to grow between 2020 and 2030

Who are the key players in the Smart Shoes Market

What could be the challenging factors in the growth of Smart Shoes Market

What are the growth drivers for the Smart Shoes Market

Contents

Executive Summary

Smart Shoes Market

Product Overview

Market Definition

Segmentation

Assumptions and Acronyms

Research Methodology

Research Objectives

Primary Research

Secondary Research

Forecast Model

Market Size Estimation

Average Pricing Analysis

Macro-Economic Indicators

Market Dynamics

Growth Drivers

Restraints

Opportunity

Trends

Correlation & Regression Analysis

Correlation Matrix

Regression Matrix

Recent Development, Policies & Regulatory Landscape

Risk Analysis

Demand Risk Analysis

Supply Risk Analysis

Smart Shoes Systems Analysis

Porters Five Forces

Threat of New Entrants

Bargaining Power of Suppliers

Threat of Substitutes

Rivalry

PEST Analysis

Political

Economic

Social

Technological

Smart Shoes Market

Market Size & forecast, 2019A-2030F

By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

By Volume 2019-2030F; Y-o-Y Growth (%) 2020-2030F

Smart Shoes: Market Segmentation

By Regions

North America:(U.S. and Canada), By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

Latin America: (Brazil, Mexico, Argentina, Rest of Latin America), By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

Europe: (Germany, UK, France, Italy, Spain, BENELUX, NORDIC, Hungary, Poland, Turkey, Russia, Rest of Europe), By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

Asia-Pacific: (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia Pacific), By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

Middle East and Africa: (Israel, GCC, North Africa, South Africa, Rest of Middle East and Africa), By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

By Product Type: Market Share (2019-2030F)

Smart Walking Shoes, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

Smart Running Shoes, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

Smart Sports Shoes, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

By Gender: Market Share (2019-2030F)

Male, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

Female, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

By Distribution Channel: Market Share (2019-2030F)

Supermarket/Hypermarket, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

Specialty Store, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

Online Store, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

Company Profile

Nike Inc.

Company Overview

Company Total Revenue (Financials)

Market Potential

Global Presence

Key Performance Indicators

SWOT Analysis

Product Launch

Li-Ning Company Limited

Adidas AG

PUMA SE

Under Armour, Inc.

361 Degrees International Limited

Daphne international Holdings limited

SOLE POWER LLC

DIGITSOLE

Ducere Technologies PVT. LTD.

Consultant Recommendation

**The above-given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.

Methodology/Research Approach

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Research Programs/Design

Historical Data (2015-2019)	Industry Trends Competitive Landscape By Company Expansion Mergers and Acquisitions Market Segment by Type by Application By Regions/ Geography	Value Status and Outlook Value for Major Players Market Share Growth Rate Present Situation Analysis Value Market Share Growth Rate Present Situation Analysis
Influencing Factors	Market Environment Government Policy Technological Changes Market Risks	Market Drivers Growing Demand of Downstream Reduction in Cost
Market Forecast (2021-2026)	Overall Size by Type by Application By Regions/Geography	Key Data (Value) Market Share Growth Rate CAGR (2021-2026)

Market Size Estimation

Top-down and bottom-up approaches are used to validate the global Voluntary Carbon Offset market size market and estimate the market size for Company, regions segments, product segments and Application (end users).

The market estimations in this report are based on the marketed sale price of Voluntary Carbon Offset (excluding any discounts provided by the player, distributor, wholesaler or traders). The percentage splits, market share, and breakdowns of the product segments are derived on the basis of weights assigned to each of the segments on the basis of their utilization rate and average sale price. The regional splits of the overall Voluntary Carbon Offset market and its sub-segments are based on the percentage adoption or utilization of the given product in the respective region or country.

Major Company in the market is identified through secondary research and their market revenues determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top Company; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs and marketing executives. The percentage splits, market share, Growth Rate and breakdowns of the product markets are determined through using secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or other factors are not accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Market Intellix and presented in this report

The following figure shows an illustrative representation of the overall market size estimation process used for this study.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation, extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report. Extensive qualitative and further quantitative analysis is also done from all the numbers arrived at in the complete market engineering process to list key information throughout the report.

Data Source

Secondary Sources

Secondary sources include such as press releases, annual reports, non-profit organizations, industry associations, governmental agencies and customs data, etc. This research study involves the usage of widespread secondary sources, directories, databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), and TRADING ECONOMICS, and News Network, statista, Federal Reserve Economic Data, annual reports, BIS Statistics, ICIS; company house documents; CAS(American Chemical Society); investor presentations; and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and Hospitals study of the Voluntary Carbon Offset market. It was also used to obtain important information about the top companies, market classification and segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives.

Market Size	Segmental value Geographic Penetration Product Adoption Rate for Different market	Journals, Websites, and Press Releases Annual Reports and SEC Filings Company Websites and Press Releases Public and Paid Databases Market Intellix Data Repository
Market Position of Top Company	Product Financials Geographic value Mix Total Company value Business/Segmental value Mix
Qualitative Analysis	Influence Factors Market Potential Market Risks and Opportunities Industry Trends Geographical Features Government Policies	Company Websites and Press Releases Public and Paid Databases Annual Reports Industry Associations Market Intellix Data Repository

Primary Sources

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product Company (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end use (product buyers), and related key executives from various key companies and organizations operating in the global market.

Primary research was conducted to identify segmentation Type, product price range, product Application, key Company, raw materials supply and the downstream demand, industry status and outlook, and key market dynamics such as risks, influence factors, opportunities, market barriers, industry trends, and key player strategies.

Key Executives Interviewed

Key Data Information from Primary Sources

Primary Sources	Parameters	Key Data
Market Segments(by Application, by Type)	Value by Type Status and Forecast Value by Application Value by Regions, Status and Forecast (2021-2026)	Value Market Share by Type Value Growth Rate by Type Value by Application Percentage and Growth Rate by Application Value Growth Rate and Market Share by Regions Market Size Status and Forecast (2021-2026)
Total Market	Overall Size, Status and Forecast	Market Size Status and Forecast (2021-2026)