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Smart Shoes Market $2.11B by 2033
Consumers’ shift towards a healthy lifestyle in the United Kingdom is predicted to boost demand for smart shoes.

Rockville, July 20, 2023 (GLOBE NEWSWIRE) -- As per a new research report by Fact.MR, a provider of market research and competitive intelligence, the Smart Shoes Market stands at US$ 270 million in 2023. Worldwide demand for smart shoes is projected to rise at an exceptionally high CAGR of 22.8% through 2033. Surging sales of smart shoes are attributed to their rapidly growing use in sports and fitness activities.

Nike, in September 2021, launched smart shoes with a theme of Oklahoma Sooners. These shoes feature better body balancing and lightweight capabilities.

The smart shoes sector is expected to grow due to the development of footwear that caters to the needs of older individuals and those focused on maintaining their health. Furthermore, the rising research and development efforts aimed at technological enhancements, such as incorporating sensors with alert capabilities for speed regulation and obstacle detection, are anticipated to drive the demand for smart shoes.

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Smart shoes, although resembling regular footwear, have special features that work in conjunction with users' smartphones. They are insole devices equipped with sensors that enable various functionalities such as navigation, receiving vibrations, calculating calorie burn and steps, and more. By connecting smart shoes to their smartphones via Bluetooth, users can access information about their engagement in different physical activities.

Key Takeaways from Market Study

The global smart shoes market is valued at US$ 270 million in 2023.

Worldwide demand for smart shoes is predicted to increase at a CAGR of 22.8% from 2023 to 2033.

The market is set to reach a valuation of US$ 2.11 billion by the end of 2033.

The adults segment is projected to expand at a CAGR of 20% through 2033.

Sales of smart shoes in the United States are forecasted to reach US$ 597 million by 2033-end.

Demand for step-counting shoes is set to accelerate at 22.9% CAGR through 2033.

The Indian market is forecasted to expand at a CAGR of 28.3% and reach US$ 202 million by 2033.

The smart shoes market in China is estimated to reach US$ 697 million by the end of 2033.