Smart Shoe Market: Current Analysis and Forecast (2023-2030)

The Smart Shoe Market was valued at USD 170 million in 2022, growing at a CAGR of 9.1% during the forecast period from 2023–2030. owing to the rising usage of fitness devices globally. For instance, according to research published in October 2021 by RunRepeat, more than 445 million wearable fitness devices were sold to consumers in 2020, and fitness tracker revenue increased by more than 31% in the period affected by COVID-19. Also, according to Business Desk data published in 2022, over 25% of the UK adult population have an exercise tracker, and one-third wear their device daily. In addition to this, the increasing product launches by medical device and footwear companies to find potential smart footwear, rising research and development activities for developing smart fitness devices, and the rising urban population are also driving the smart shoe market. Global footwear-producing giants are leaving no stone unturned to showcase their potential for launching a new shoe with integrated technologies by expanding their portfolio. For instance, Puma SE’s largest store in northern India opened in October 2021 in the city of Gurgaon, India. About 7,000 square feet, the Gurgaon store in the CyberHub retail hub is an “experience store”, where digital touchpoints are strategically placed to draw in digitally savvy customers, who are spending more and more time online.

Some of the major players operating in the market include Adidas AG, Digitsole Pro, Nike, Inc., Puma SE, SALTED DIGITALHEALTHCARE, Pepper Gate Footwear Inc., Under Armour, Inc., Vivobarefoot, Xiaomi, Powerlace.

Insights Presented in the Report

“Amongst product type, the smart sports shoe category to grow with high CAGR during the forecast period”

Based on product type, the market is segmented into smart walking shoe, smart running shoe, and smart sports shoe. The smart walking shoe segment is expected to hold a significant share in the forecast period due to the surge in sports activities throughout the globe which has inspired sportswear companies to launch an innovative range of products. For instance, in 2021, Basketball star, Stephen Curry under his label Curry Brand, powered by Under Armour launched a seven-part footwear collection named Curry Flow 9 shoe. Smart walking shoes are in high demand in the sports sector due to the increasing need to track the vitals of the sportsman. Top of FormThus, the smart walking shoe category is expected to grow with a high CAGR during the forecast period. 

“Amongst end users, the men segment held a significant share in the year 2022”

Based on end users, the market is bifurcated into men and women. The men segment held a significant share in 2022 majorly due to the major presence of males in sports and gym activities. For example, in 2020, the International Olympic Committee (IOC) launched a Business Accelerator (BAC) course for athletes and their entourage members. The online BAC course was attended by 5,799 participants, 59% of whom were men. Also, advances in technology, the growing trend of athleisure in the footwear industry, increased awareness of medical conditions, and an increasing urban population are all factors that have contributed to this development of the segment. Thus, the men segment dominated the market in the year 2022 amongst applications.

“Amongst distribution channels, the online store segment to grow with a significant rate in the forecast period”

Based on distribution channels, the market is segmented into supermarkets, specialty stores, and online stores. The online store segment is expected to grow with a high CAGR owing to the ubiquity of digital media and the prevalence of social media marketing which has had a significant impact on the internet penetration of various countries, with the majority of sales being made through online media. Also, several new product launches for providing enhanced care to consumers are driving this segment’s growth. For instance, Nike extended its digital presence to Southeast Asian countries in July 2021, introducing the Nike App to the region, which covers a wide range of countries, from Singapore and the Philippines to Thailand and Malaysia, as well as Taiwan. This represents a significant expansion of the company’s digital presence in the region, as Nike strives to establish a robust online presence. Thus, the online store segment is expected to grow at a significant rate in the upcoming years.

“Amongst regions, North America region held a significant share in the year 2022”

For a better understanding of the market adoption of the smart shoe industry, the market is analyzed based on its worldwide presence in countries such as North America (U.S., Canada, and Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America dominated the market of smart shoes in 2022. Several factors such as the availability of cutting-edge and innovative products, growing awareness of various sports, the rising urban population in the region are increasing the demand for tracking devices, and loaded investment in smart shoe product discovery are driving the market in the region. For instance, ValuePenguin’s 2022 article indicated that forty-five percent of U.S. citizens are regularly using fitness tracking devices, with women making up fifty-five percent of the population, followed by seventy-five percent of Gen Zs and fifty-seven percent of millennials. North America dominated the smart shoe market among regions in the year 2022.

Smart Shoe Market Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.


• The report presents a quick review of overall industry performance at one glance.


• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.


• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.


• The study comprehensively covers the market across different segments.


• Deep dive regional level analysis of the industry.

Customization Options:

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