A new finding by SmarTech Analysis shows, the 3-D printed footwear at a will grow at a CAGR of 19.5 percent to account for $6.5 billion in yearly global revenue by 2029. Footwear companies will invest billions of dollars in 3-D printing technology and manufacturing over the next decade, with billions more in revenue up for grabs, according to a new report.

According to SmarTech, revenue from 3-D printed footwear, which currently represents roughly 0.3 percent of total global footwear revenue, is expected to grow to about 1.5 percent of overall global footwear revenues by 2029. This value is inclusive of AM hardware, AM software, prototyping and tooling as well as end-use products related revenues.

Revenues associated with additive manufacturing in the footwear industry are expected to rise predictably over the next ten years. The growth will not be relegated to typical 3-D printed footwear, i.e. a croc-like slip-on made from a single piece of material that strongly resembles plastic or rubber. SmarTech says the market for 3-D printed footwear components will be the first to grow, with individual 3-D printed footwear parts generating $1 billion in revenue as early as 2023.