Global Smart Shoes Market to Benefit from the Rush for Back-to-School Supplies | Technavio
LONDON--(BUSINESS WIRE)--Aug 29, 2018--The charm of back to school shopping is further accentuated by providing yet another opportunity to indulge our fetish for new shoes. Regardless of age or gender, most modern consumers are enamored by the plethora of choices available in the footwear industry. Online and retail distribution channels are flooded with footwear for women, men, and children. The array of choices is quite compelling and convinces even the most frugal individuals to invest in a few pairs of comfortable footwear to cater to different occasions in the formal or informal arena.
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Technavio has published a new market research report on the global smart shoes market from 2018-2022. (Graphic: Business Wire)
While we were still struggling to exercise some measures of control and reign in temptation amidst the wide variety of footwear choices in terms of style, color, and material, shoe manufacturers have realigned the footwear industry with innovative new products. The footwear market in 2018 introduces battery-powered smart shoes, which offers a plethora of features such as connectivity, tracking, and health-monitoring, in addition to providing style and comfort.
Market research analysts at Technavio forecast the to grow steadily over the next few years and post a CAGR of around 23%. This market research analysis highlights strategic partnerships as one of the key trends in the smart shoes market. Vendors in the smart shoes industries are partnering with tech giants to remain competitive and develop smart footwear with varied features.
According to a senior analyst at Technavio for retail goods and services research , “Vendors in the global smart shoes market have introduced smart shoes that are capable of coaching users on their physical activities. For instance, Runtopia Reach smart running shoes are equipped with smart sensors that monitor movements and provide customized training plans and other coaching functions via the Runtopia app. The increasing popularity of such products will lead to the growth of the market during the forecast period.”
The global smart shoes market is dominated by players such as DIGITSOLE, Nike, and Under Armour among others. The introduction of innovative and technically-advanced smart fitness products will motivate consumers to adopt them for their fitness activities, consequently accelerating market growth.
Market research firm Technavio has identified the key trends and drivers which are likely to drive the bottom lines of the global smart shoes market. For instance, increased product innovation leading to premiumization is a key driver, which is expected to impact market growth. The global smart shoes market is dominated by a few players, therefore, to sustain in this market vendors must invest in product and technological innovation.
Technavio’s market research provides a competitive analysis of the market by end-user, (adults, senior citizens, users with disability, and kids), and by geography (the Americas, EMEA, and APAC). This research report presents a thorough understanding of the market augmented with actionable insights. The report is designed to help market players refine their strategies and secure a bigger share of the market during the period 2018-2022.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE: Technavio Research
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PUB: 08/29/2018 07:33 AM/DISC: 08/29/2018 07:33 AM