Farmington, May 04, 2023 (GLOBE NEWSWIRE) -- The Global Auto-Lacing Shoe Market size was valued at USD 2.06 billion in 2022 and is projected to reach USD 4.89 billion by 2030, growing at a CAGR of 11.40% from 2023 to 2030. Traditional shoes can improve our walking comfort. When traditional shoes and electronics are combined, the consumer experience can be elevated to the next level. One of these is the use of intelligent footwear. Here, sensors, Bluetooth, Navigation Trackers, auto-lacing systems, and other technologies are incorporated into conventional footwear. Auto-lacing footwear are shoes that tie themselves. Automatic mechanical tensioning describes the technology behind footwear with automatic fastening. This technology utilizes sensors and a motor to modify or tighten the shoelaces based on the user's preferences. This innovation is unique to athletic footwear. Adidas and Reebok, among others, have launched their own versions of self-lacing footwear.
It assists in monitoring the individual's physical health while walking or sprinting. It is capable of displaying the total distance walked, heart rate, calories expended, etc. People want to lose their excess obesity. In this situation, these intelligent instruments can be very useful. You can classify smart shoes into three categories. They are walking, jogging, and athletic shoes.
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Segmentation Overview:
By Kind:
- Rechargeable
Chargeable sandals with rechargeable batteries built in. This variety is superior to non-rechargeable ones, which must be manually turned or replaced every few months, because it provides power assistance for all of the steps a person takes in an hour. (Which is susceptible to failure). They have a short battery life and no manual support, which is their greatest flaw. Rechargeable batteries are superior to non-rechargeable batteries because they can be used longer without being replaced or recharged.
- Non-Rechargeable
Non-rechargeable shoes contain batteries that cannot be removed. These batteries provide power to the shoes, allowing the wearer to walk independently with every step. (Which is susceptible to failure). The most significant issue is that the battery does not last as long. This form of shoe is typically worn by individuals with limited mobility. The sole of the shoe is composed primarily of rubber, and it has an integrated battery.
Regional Analysis:
In 2016, North America is anticipated to dominate the market. This can be attributed to an increasing demand for technologically advanced products, a growing geriatric population, and a rise in obesity rates. The United States is projected to be the largest region in North America between 2021 and 2030, contributing significantly in terms of revenue generation and consumption.
In addition, the Asia-Pacific market is anticipated to grow rapidly during the forecast period. Auto-lacing shoe sales in the Asia-Pacific region are likely to increase as more individuals in China, India, and Japan desire Bluetooth and app-enabled auto-lacing shoes.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 11.4% from 2023 to 2030. |
| Revenue Forecast by 2030 | USD 4.89 billion |
| By Kind |
|
| By Application |
|
| By Companies |
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| Regions and Countries Covered |
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| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Market Dynamics:
Key Market Driver:
People around the world spend a great deal of money on shoes, which is a major factor in the market's expansion.
- Product improvements leading to product premiumization
- The emergence of tech-enabled footwear was stimulated by fitness monitoring.
- High demand exists among athletes for GPS-enabled and app-integrated auto-lacing shoes.
- Self-tying shoes are becoming increasingly popular due to the rising demand for functional products.
- The market is expanding as a result of enhanced functionalities, increased characteristics, and the nature of basic materials.
Key Segments Covered:
Top Market Players:
- Nike
- Digitsole Smartshoe
- Powerlace Technology
- PUMA
- Adidas Group
- Salted Venture
- No New Folk Studio
- Sole Power
- LLC
- B-Shoe Ltd.
- Zhor-Tech.
- Li Ning Company Limited
- 361 Degrees International Limited
- Powerlace Technology Inc.
By Kind:
- Rechargeable
- Non-Rechargeable
By Application:
- Fitness and Athletics
- Physically Challenged
- Other
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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