A key factor driving the growth of the market is the increasing emphasis on personalized 3D-printed footwear. Vendors operating in the global 3D-printed footwear market follow various strategies to increase their sales. One such strategy is offering customized and personalized models of 3D-printed footwear. Some design students from various universities are also focusing on developing customizable 3D-printed shoes. For instance, in April 2017, design students from the Academy of Fine Arts, Warsaw, Poland, designed customizable 3D-printed shoes, which were made of eco-friendly materials. Therefore, rising demand for customized 3D-printed footwear will increase the sales of such models and drive the growth of the global 3D-printed shoes market during the forecast period.
As per Technavio, the innovations in 3D printing will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global 3D-printed footwear market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global 3D-Printed Footwear Market: Innovations in 3D Printing
Currently, many vendors that offer 3D-printed footwear are collaborating with 3D printing technology providers to develop footwear. 3D printing technology helps vendors reduce the time required from the conceptualizing of a new design to its reaching store shelves, by one-third. Hence, such benefits offered by 3D printing technology in the footwear market have encouraged technology providers to develop updated versions of footwear products. In April 2019, Stratasys Ltd. (Stratasys) announced the launch of its F120 3D printer. The new 3D printer is equipped with simple controls and remote self-monitoring. It ensures high levels of reliability and repeatability. Some footwear designers are also focusing on designing new footwear using Stratasys' advanced 3D printing technology. Therefore, such innovations in 3D printing technology may encourage vendors to integrate such technologies, which will drive the growth of the market during the forecast period.
“Apart from the innovations in 3D printing, the growing focus of vendors on manufacturing 3D-printed footwear using patented technologies and the increasing demand for 3-D printed insoles among diabetic patients are two other factors that are expected to boost market growth during the forecast period,” says a senior analyst at Technavio.
Global 3D-Printed Footwear Market: Segmentation Analysis
This market research report segments the global 3D-printed footwear market by end-user (men and women) and geographical regions (North America, Europe, APAC, MEA and South America).
The North American region led the market in 2018, followed by Europe, APAC, MEA and South America respectively. During the forecast period, the North American region is expected to maintain its dominance in the global market and register the highest incremental growth due to increasing number of local and global vendors operating in the 3D-printed footwear market in the region.
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Five Forces Analysis
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