Smart shoes: A booming market fueled by innovation and premium footwear demand.
20, 2024 /PRNewswire/ — Technavio, a leading technology research and advisory company, has released its latest market research report on the global smart shoes market, which highlights key market trends and growth drivers. The report reveals that the smart shoes market is experiencing a surge in growth, driven by the rising demand for premium footwear and technological advancements. As a result, the market is projected to reach USD 984.9 million by 2028, exhibiting a compound annual growth rate (CAGR) of 11.77%.
Smart shoes: A booming market fueled by innovation and consumer demand.
The market is expected to reach a value of $1.5 billion by 2025, with a compound annual growth rate (CAGR) of 20%. This growth is driven by several factors, including:
- Rising disposable income:** As economies grow, consumers have more disposable income to spend on luxury goods and services, including innovative technology like smart shoes. * **Increasing investments in research and development:** Companies are investing heavily in research and development to create more advanced and sophisticated smart shoes with improved features.
**
The smart shoes market is experiencing a surge in popularity, driven by technological advancements and consumer demand for innovative products. This growth is evident in the increasing adoption of online and offline distribution channels. The online segment is experiencing rapid growth, fueled by the convenience and accessibility of online shopping.* **Technavio:
**
Technavio, a renowned global tech research and advisory firm, offers its clients a wide range of services. These services include comprehensive market coverage, extensive research, and actionable insights that allow clients to identify opportunities in various markets, analyze their competitive positions, and navigate through shifting market trends. This global firm is dedicated to helping businesses thrive and succeed in a competitive marketplace. Technavio’s services are designed to provide clients with a comprehensive understanding of the tech landscape. This includes market size, historical market trends, and current market dynamics. Technavio’s research is based on a global perspective, encompassing a wide range of industries and technologies.Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/ View original content to download multimedia:https://www.prnewswire.com/news-releases/smart-shoes-market-to-grow-by-usd-984-9-million-2024-2028-as-product-innovation-and-premiumization-drive-revenue-with-ai-powering-market-transformation—technavio-302254539.html SOURCE Technavio
