PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1449598
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1449598
The global electronic skin market was valued at US$ 7.14 Bn in 2023 and is expected to reach US$ 20.94 Bn by 2031, growing at a compound annual growth rate (CAGR) of 14.4% from 2024 to 2031.
Report Coverage | Report Details | ||
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Base Year: | 2023 | Market Size in 2023/2024: | US$ 7.14 Bn |
Historical Data for: | 2019 to 2023 | Forecast Period: | 2024 - 2031 |
Forecast Period 2023/2024 to 2030/2031 CAGR: | 14.40% | 2030/2031 Value Projection: | US$ 20.94 Bn |
Electronic skin, also known as e-skin or bioelectronic skin, is a technology that refers to flexible and stretchable thin-film devices that can conform to and mimic human skin. E-skin devices are equipped with sensors capable of sensing touch, temperature, stretch and various biomolecular parameters. The core components that enable these functionalities are functional materials, embedded micro/nano-scale electronic components, and interconnecting networking elements. E-skin has wide-ranging applications across various industries including healthcare, robotics, consumer electronics, and others. The technology is still in development phase with ongoing research focusing on enhancing its capabilities, durability, form factor and manufacturability.
Global electronic skin market growth is driven by rising demand for wearable devices, growing healthcare and medical sector, and increasing investments in robotics and prosthetics. However, high development costs, requirement of sophisticated manufacturing processes, and lack of standardization are challenging widespread commercialization of the technology currently. Some of the key opportunities include integration of e-skin into smart textiles and clothing, development of self-powered devices using novel energy harvesting technologies, and miniaturization of electronic components for making e-skin ultra-thin and invisible.
Moreover, increasing number of research and development activities related to electronic skin is expected to propel the market growth over forecast period.
For instance, in May 2023, according to Research Group at Stanford University, the electronic skin is soft and flexible, can simulate touch, and runs effectively at low voltage. Stanford University researchers created soft integrated circuits that convert measured pressure or temperature into electrical signals similar to nerve impulses in order to connect with the brain. The researchers believe that someday, such impulses will be sent to implanted wireless communication chips in the peripheral nerve, allowing amputees to operate prosthetic limbs. Other possible applications include cutting-edge implanted or wearable medical devices.