Global Smart Running Shoes Market is valued at approximately USD XXX million in 2019 and is anticipated to grow with a healthy growth rate of more than XXX% over the forecast period 2020-2027. Recently, running is an effective way to reduce stress, improve endurance, and lose excess fat. It also balances the immune system, avoids cardiovascular diseases, and improve muscle gain. However, despite its numerous positive consequences, running is a desirable sport with undesirable side-effects, runners are prone to the risk of twisting or inuring an ankle joint, specifically on uneven ground when fatigued. Thus, to mitigate the risk of injuries during running and jogging exercises, smart running shoes are extensively opted by the consumers that train them on better running and reduce the rate of injuries. According to several studies, nearly 65% of runners get injured each year and those individuals running imprecisely can create severe impact forces under the foot. Also, in the United States alone, almost 60 million individuals participated in running, jogging, and trail running in 2017. Therefore, the rising participation of individuals in running and jogging training and the growing running injuries are the factors significantly impacting the demand for smart running shoes throughout the world. Moreover, the rising adoption of smartphones coupled with the health awareness among people are the few other factors responsible for the high CAGR of the market during the forecast period. According to the International Health, Racquet & Sportsclub Association (IHRSA), the total fitness industry increased from USD 87.2 million to around USD 94 billion in 2019, as a result, health clubs are on pace to extend 230 million members by 2030. This, in turn, is likely to strengthen the demand for Smart Running Shoes, thereby contributing to the market growth around the world. However, the high cost of the smart shoes is one of the prime factors restraining the market growth over the forecast period of 2020-2027.
The regional analysis of the global Smart Running Shoes market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rising awareness among people regarding health and fitness, along with the wide presence of market vendors in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the rise in trend of fitness centers and health clubs, coupled with rising disposable income of the individuals in the developing nations, such as China and India, are the few factors creating a lucrative opportunity for the growth of the Smart Running Shoes market in the Asia-Pacific region.
Major market player included in this report are:
Under Armour Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Step Counting Shoes
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2017, 2018
Base year - 2019
Forecast period - 2020 to 2027
Target Audience of the Global Smart Running Shoes Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers