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The global smart shoes market is segmented to type such as step counting shoes, positioning shoes, navigation shoes and others. Among these segments, step counting shoes segment is anticipated to flourish in the upcoming year. Smart shoes market is booming across the globe on the account of increasing population. Growing demand for smart shoes in urban area is anticipated to impel the growth of the smart shoes market. Furthermore, various smartphone manufacturers such as Xiaomi are entering into smart shoes market which is likely to strengthen the growth of the market. The shoes uses walking and running data information to offer tips on improving user’s fitness routine or locations and other information.Global smart shoes market is expected to flourish at a significant CAGR during the forecast period. Rising population and adoption of advance walking and running monitoring technological products (which are embedded with sensors that can detect your walking data and can be controlled via smartphone) are some of the key factors driving the growth of the smart shoes market. Moreover, the global smart shoes market is expected to showcase significant growth during the forecast period.
North America captured the largest market share in overall smart shoes market and is expected to continue its dominance over the forecast period. Rising geriatric population and growing fitness oriented youth is anticipated to aid the growth of the market. These people are inclined towards the purchase of innovative and technologically-advanced smart fitness products to track their fitness activities. Further, increasing disposable income and rising demand for navigation shoes for travelling is expected to accelerate the growth of smart shoes market in the upcoming years. Asia Pacific and Europe smart shoes market is anticipated to witness lucrative growth during the forecast period. Moreover, Middle East is anticipated to grow at modest CAGR during the forecast period.
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Robust Growth of Smart Shoes Market
Increasing adoption of step counting smart shoes to track the location and fitness is expected to drive the market globally. Robust population growth coupled with rising per capita income as well as growth in geriatric population has expanded the smart shoes market at a global level. Moreover, factors such as trendy look of smart shoes and increasing health awareness are expected to boost the growth of the smart shoes market over the forecast period.
Rising Popularity of Fashionable Smart Wearable Devices
Rising demand for combination of fashion and advance technology in wearable device are anticipated to be the dynamic factor behind the rapid growth of smart shoes market. Additionally, increasing disposable income of the consumers and rising affordability are also expected to bolster the growth of market in future.
Factor such as high cost of the smart shoes and low adoption rate in undeveloped nations are some of the factor that is hindering the growth of the overall market.
The report titled “Smart Shoes Market: Global Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation” delivers detailed overview of the global smart shoes market in terms of market segmentation by end user, by type and by region.
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Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global smart shoes market which includes company profiling of Digitsole, Lechal, Boltt, Intellinium, Orphe, B-Shoes Ltd., IOFIT (Saltedventure Inc.), Under Armour Inc.. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global smart shoes market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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