New York, United States , March 23, 2023 (GLOBE NEWSWIRE) -- The Global Electronic Skin Market Size is to grow from USD 5.8 billion in 2021 to USD 26.05 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 19.5% during the forecast period. The increasing adoption of electronic skin by different industries such as consumer electronics, automotive, healthcare, telecommunication, retail, aerospace & defense, and others is the key driving factor.
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The term "electronic skin," or "E-skin," now refers to a wearable, ultra-thin, flexible, elastic, self-healing technology platform that combines telecommunications and information technology with high-performance materials, nanotechnology, and sensor systems to mimic the functions of either animal or human skin. The introduction of electronic skin, fueled by an older population and people with chronic illnesses, is expected to help health care in especially. Increased case studies and improvements in the use of synthetic skin are also propelling the industry ahead. Furthermore, the combination of electronic skin in robotics, microbiology, and synthetic prosthesis systems is opening up new business possibilities. Furthermore, it is expected that increased consumer awareness of the technologies utilized in temporary wearable patches would accelerate the growth of the electronic skin market.
The electronic skin patches segment dominated the market with the largest share over the forecast period.
Based on product type, the global electronic skin market is segmented into electronic skinsuit and electronic patches. Among them, the electronic skin patches segment dominated the market with the largest share over the forecast period. The expanding usage of technology innovation in personal care and healthcare items has increased the appeal of electronic skin patches.
Browse key industry insights spread across 200 pages with 100 market data tables and figures & charts from the report TOC on the "Global Electronic Skin Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Electronic Skinsuit, Electronic Patches), By Component (Stretchable Circuits, Stretchable Conductors, Photovoltaics System, Electroactive Polymers, Others), By Sensors Type (Electro Physiological Sensors, Tactile Sensors, Chemical Sensors, Others), By Application (Health Monitoring Systems, Cosmetics, Drug Delivery Systems, Others) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030" Get Detailed Report Description Here:
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The stretchable conductor’s segment is witnessing significant CAGR growth over the forecast period.
On the basis of components, the Global Electronic Skin Market is segmented into stretchable circuits, stretchable conductors, photovoltaics systems, electroactive polymers, and others. Among these, the stretchable conductor’s segment is expected to grow at a significant CAGR during the forecast period because the development of skin-inspired devices, biomedical devices, and soft robotics has been accelerated by advancements in flexible electronic materials as well as tools that have allowed researchers to mimic the self-healing characteristics of human skin.
The electrophysiological sensors segment is witnessing a higher growth rate over the forecast period.
Based on sensor type, the Global Electronic Skin Market is segmented into electrophysiological sensors, tactile sensors, chemical sensors, and others. Among these, the electrophysiological sensors segment witnessed a higher growth rate over the forecast period owing to the increasing usage of such sensors in medical contexts, including real-time monitoring of patient health and treatment of chronic illnesses and rehabilitative operations.
The health monitoring systems segment is dominating the market with the largest market share of 63% over the forecast period.
Based on application, the Global Electronic Skin Market is segmented into health monitoring systems, cosmetics, drug delivery systems, and others. Among these, the health monitoring systems segment dominates the market with the largest market share of 45% over the forecast period as a result of the growing use of electronic skin devices in a variety of healthcare application fields such as neurology, cardiology, diabetes, and many others.
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North America is dominating the market with the largest market share of 54%.
North America is expected to remain the industry's leading region during the forecast period, with a 54% market share, due to the region's aging population, and the number of advanced technology electronic skin product launches is increasing.
Due to continuous high competition for electronic skin products and services in cosmetics and medicine delivery systems, Asia Pacific is predicted to develop the fastest during the projection period.
Recent Development
In August 2022, Amorepacific, a South Korean beauty and cosmetics company invented the world's first chip-less wireless wearable electronic skin (e-skin) that is sweatproof and can continually monitor skin changes over long periods of time in partnership with Professor Kim Jeehwan at MIT. The ground-breaking patches, which have long-term wearability and power-efficient wireless communication modules with sensors that are incredibly sensitive and do not require bulky processors or batteries, are likely to totally revolutionize the paradigm of e-skins and e-skin research.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Electronic Skin Market include Dialog Semiconductor PLC, MC10, Intelesens Ltd., VivaLNK, Xsensio, Bloomlife, Xenoma, GENTAG, Inc., Medtronic Plc, Chrono Therapeutics Inc., Plastic Electronics GmbH, Insulet Corporation, Physical Optics Corporation, General Electric Company, ROTEX Global, LifeSignals, iRhythm Technologies, Inc., Koninklijke Philips N.V., and among others.
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