Global Footwear Market 2018-2022| Product Innovation and Differentiation to Drive Market Growth| Technavio

The global footwear market is expected to post a CAGR of close to 2%
during the period 2018-2022, according to the latest market research
report by Technavio.

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Technavio has published a new market research report on the global footwear market from 2018-2022. (Graphic: Business Wire)

A key factor driving the growth of the market is product innovation and
differentiation leading to premiumization. Factors such as advanced
technical fabrication, innovative product designs, and product
development are leading to the increased sale of premium footwear.
Currently, there is an increasing demand for high quality products that
are inventive and comfortable. Consequently, many sports shoe models are
sold at premium prices. Furthermore, several vendors are incorporating
the latest technology in sports and casual shoes as per market demand.

This market research report on the global
footwear market 2018-2022 also provides an analysis of the most
important trends expected to impact the market outlook during the
forecast period. Technavio classifies an emerging trend as a major
factor that has the potential to significantly impact the market and
contribute to its growth or decline.

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In this report, Technavio highlights the advent of smart shoes as one of
the key emerging trends in the global footwear market:

Global footwear market: Advent of smart shoes

The introduction of innovative and technically-advanced smart fitness
products has attracted and motivated consumers to adopt them for their
fitness activities. Consequently, smart shoes are trending in the
market, with many key players making them a part of their product lines.
This will accelerate market growth and raise the value of the market in
terms of revenue.

“Smart footwear, such as step-counting shoes are popular among
consumers engaged in athletic and fitness activities. Moreover, the
adoption of navigation and positioning shoes is high among
differently-abled and older consumers as they alert them about obstacles
on the way and track them. Thus, to capitalize on the existing demand,
many vendors have started offering smart shoes,” says a senior research
analyst at Technavio for retail goods and services.

Global footwear market: Segmentation analysis

This market research report segments the global footwear market by
end-user (men, women, and children) and geographical regions (the
Americas, EMEA, and APAC).

In 2017, the women’s segment dominated the market with a share of 50%
followed by the men and children segment, respectively. Although the
children’s segment held the smallest share of the market, it is expected
to witness the maximum increase in market share over the forecast period.

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Some of the key topics covered in the report include:

Market Landscape

Market Sizing

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

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View source version on businesswire.com: https://www.businesswire.com/news/home/20180712005875/en/

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