Electronic Skin Market Outlook
According to the report by Expert Market Research (EMR), the global electronic skin market price reached a value of around USD 7.67 billion in 2022. Aided by the rising demand for advanced human-machine interfaces and the expanding applications of electronic skin across various sectors, the market is projected to further grow at a CAGR of 19.60% between 2023 and 2028 to reach a value of USD 22.33 billion by 2028.
Electronic skin, also known as e-skin, is a flexible and stretchable material that mimics human skin’s sensitivity and functionalities. It can sense pressure, temperature, and other stimuli. Electronic skin has a myriad of potential applications in robotics, prosthetics, healthcare monitoring, and wearable technology, transforming the interaction between humans and machines.
The global electronic skin market growth is fuelled by the growing demand for innovative human-machine interfaces. With the rapid advancement in technology, there’s a significant shift towards systems and devices that can replicate human-like interactions. Electronic skin, with its ability to sense and respond to external stimuli, plays a crucial role in this evolution, increasing its demand in the market.
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In addition to this, the escalating applications of electronic skin in various sectors contribute significantly to the electronic skin market expansion. In healthcare, electronic skin is used for continuous health monitoring and the development of advanced prosthetics, providing amputees with a sense of touch. In robotics, electronic skin is essential for creating robots that can interact safely and intuitively with humans and their environment. Furthermore, in the field of wearable technology, electronic skin is used to create devices that seamlessly integrate with the human body, providing real-time, personalised health and fitness data.
The electronic skin market development is further propelled by significant research and development activities. Many companies and research institutions are heavily investing in the development of more advanced and reliable electronic skin technologies. This not only accelerates the market growth but also encourages innovation in the field.
In addition, the electronic skin market expansion is augmented by the growing demand for wearable health monitoring devices. The global pandemic has underscored the need for real-time, remote health monitoring, leading to a surge in demand for wearable devices integrated with electronic skin technology.
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Electronic Skin Market Segmentation
The market can be divided based on product, component, sensors, application, and region.
Market Breakup by Product
- Electronic Skin Suits
- Electronic Patches
Market Breakup by Component
- Stretchable Circuits
- Photovoltaic Systems
- Stretchable Conductors
- Electroactive Polymers
Market Breakup by Sensors
- Tactile Sensors
- Chemical Sensors
- Electrophysiological Sensors
Market Breakup by Application
- Health Monitoring Systems
- Drug Delivery Systems
Market Breakup by Region
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global electronic skin companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Xenoma Inc.
- VivaLNK, Inc.
- Holst Centre
- Quad Industries
- GENTAG, Inc.
- iRhythm Technologies, Inc.
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