Aggressive growth predicted for electronic skin market
The $500m electronic skin (e-skin) market is projected to see an aggressive year on year growth at 20.7% in 2019, according to a study. Thriving as a niche marketplace currently in its nascent stage, the electronic skin market will reportedly remain a high growth-low value landscape.
The study finds that besides potential applicability in breast cancer diagnostics, the market is favouring from research on electronic skin’s usability in healthy tattoos and non-invasive wound tracking. Additionally, the report finds that stretchable conductors and stretchable circuits hold a combined share of over 50%.
The study opines that adoption of electronic skin technology and equipment will continue to grow at a healthy rate in the healthcare sector, which currently accounts for nearly one-third revenue share. While electronic skin technology has already been trialed for application in portable remote control systems for hardware, emergence of attractive investment avenues are speeding up adoption of electronic skin in wearables, which already has a sizable consumer base compared to a majority of other consumer electronics. This according to the report will play a crucial role in bolstering electronic skin market revenue in coming years.
Riding on a host of next-generation potential applications in assistive health, communication framework and protocol, and social intelligence robotics among others, electronic skin technology continues to garner research interests. Highly sensitive pressure sensing and impeccable flexibility are also pushing functionality of electronic skin technology in H2M (human-machine) interactions. Increasing research efforts concentrating on discovering potential of electronic skin in assisting robotic surgeries point to a magnificent application area developing for electronic skin technology innovation.
The study offers a long-term analysis of the electronic skin market, and forecasts a 27.5% CAGR through 2028.
These insights are based on FMI’s report on the electronic skin market.