PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1462940
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1462940
Electronic Skin Market size was valued at USD 5,345.5 Million in 2023, expanding at a CAGR of 16.5% from 2024 to 2032.
Electronic skin, or e-skin, is an innovative technology designed to mimic the sensory capabilities of human skin using flexible, stretchable electronic materials. It comprises sensors that can detect a variety of stimuli including pressure, temperature, humidity, and touch, similar to the way human skin functions. E-skin holds significant potential across diverse fields such as healthcare, robotics, wearable devices, and prosthetics due to its ability to provide real-time feedback and interaction with the surrounding environment. Its flexibility, sensitivity, and durability make it an attractive solution for applications requiring seamless integration of electronics with the human body or other surfaces.
Electronic Skin Market- Market Dynamics
Advantages such as self-healing and flexibility to propel market demand
The growing adoption of electronic skin, driven by its advantages such as self-healing and flexibility, is a significant driving force in the market. As electronic skin mimics human sensing capabilities, it finds wide applications in health monitoring technologies. The sensitivity and flexibility of human skin set it apart from other wearable devices. Additionally, the increasing number of product launches and rapid FDA approvals are bolstering market growth. For example, in May 2018, MC10, Inc. received FDA approval for its BioStamp nPoint system. Technological advancements in electronic skin, coupled with rising research and development efforts in artificial skin, further contribute to market expansion. Researchers in Korea have developed multitasking skin that can mimic human skin and sense temperature, pressure, and sound simultaneously. Continuous research aims to replicate olfactory and palate senses, as well as tactile sensing. Furthermore, the use of electronic skin in artificial prosthetics, biomedical devices, and robotic systems is creating new avenues for market growth.
Electronic Skin Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 16.5% over the forecast period (2024-2032)
Based on product type segmentation, Stretchable Conductors was predicted to show maximum market share in the year 2023
Based on component segmentation, passenger cars was the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Electronic Skin Market is segmented on the basis of Product Type, Component, Device Type, Application, and Region.
The market is divided into two categories based on product type: Electronic Patches and Electronic Skin Suits. In 2023, electronic skin patches emerged as the dominant product type in the market. These patches encompass actuators, sensors with integrated processing, communication capabilities, and energy storage. They are increasingly favored for various personal care applications, facilitating patient care outside traditional hospital settings while maintaining close monitoring by healthcare professionals. Electronic skin patches find utility in diabetes self-monitoring, motion sensing, remote patient monitoring for both inpatient and outpatient care, as well as temperature sensing.
The market is divided into five categories based on Component: Stretchable Circuits, Stretchable Conductors, Electr-active Polymers, Photovoltaics and Others. In 2023, Stretchable Conductors dominate the market by component. Advancements in Microelectro-mechanical Systems (MEMS) technology have led to the miniaturization of electro-mechanical and mechanical components through microfabrication techniques. By leveraging MEMS technology, electronic circuits and components can be intricately embedded onto thin and flexible substrates, forming electronic skin solutions.
Electronic Skin Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
In the electronic skin market, companies deploy diverse strategies to harness its potential and meet industry-specific demands. These strategies typically center around technological innovation, product differentiation, and strategic partnerships. Technological advancement entails enhancing sensor capabilities, improving material flexibility and durability, and integrating with other electronic components. Product differentiation focuses on developing unique features tailored to specific applications and user needs to gain a competitive edge. Strategic partnerships with research institutions, universities, and other companies facilitate access to complementary technologies, expertise, and resources, fostering collaborative innovation and accelerating product development. Moreover, companies may pursue market expansion by targeting diverse industry verticals and geographic regions, leveraging their strengths to capture emerging opportunities and establish a strong foothold in the rapidly evolving electronic skin market. Key players prioritize product miniaturization and continuous technological advancement, investing in research and development activities to continuously innovate their offerings. The industry focuses on electronic skin patches for applications such as artificial prosthetics, biomedical devices, instrumentation, industrial robotics, and humanoids, taking a holistic approach due to the unique features of electronic skin. Additionally, companies are increasingly implementing artificial intelligence and machine learning in electronic skin.
In August 2022, Xenoma and CYBERDYNE, two companies specializing in printed circuit fabric and Cybernics, collaborated to develop solutions that enhance users' physical functions in daily life.
GLOBAL ELECTRONIC SKIN MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHT
MC10
Xenoma
VivaLNK
GENTAG, Inc
DIALOG Semiconductors
Bloomlife
Others