Global Electronic Skin Market Projected to be Worth USD 16,217.8 Million by 2028

TheGlobalElectronic SkinMarketis projected to grow from USD 6,694.6 Million to USD 16,217.8 Million, growing at the Compound Annual Growth Rate (CAGR) of 14.1%. Electronic Skin is a thin, flexible, and elastic membrane that is embedded with sensory implants. Electronic Skin care technology is intended to reproduce human / animal skin capabilities, because Electronic Skin produces an appropriate response to environmental stimuli, such as changes in pressure and temperature.

The great demand for Electronic Skin solutions in the field of consumer electronics is expected to promote the acceptance of Electronic Skin in the healthcare industry. Endless changes in diet and lifestyle due to increased health concerns in the general population and growing awareness about durability are estimated to drive the global Electronic Skin Market. Electronic Skin patches and related equipment facilitate remote management of chronic diseases while providing complete independence for the patient. Increased awareness of Electronic Skin technologies in the healthcare sector and the ever-increasing adoption of long-distance patient monitoring equipment are estimated to advance the Global Electronic Skin Market during forecasting. However, intricate design & material deterioration and high initial costs are major factors that hinder the market. Conversely, an increase in Research and Development (R&D) activities to improve its resilience is expected to provide potential opportunities for market expansion.

The Electronic Skin Market is divided on the basis of components, type and application. On a component basis, the market is divided into expandable circuits, expandable conductors, active polymers, photovoltaics, and others. Expandable conductors provide a new platform for connectivity and soft tissue for continuous health monitoring, regenerative medicine and robot control and feedback. In addition, these stretchable regions allow various bio-signals to be measured on a person's skin without limiting daily activities. Based on product type, the Electronic Skin Market is divided into robotic machines, prosthetics, and more. On an application-based perspective, the market is divided into aerospace and defense, marketing, health, communications, consumer electronics, and automotive, and other applications.

Electronic Skin Markethas been studied in North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.Due to the presence of strong institutional pillars, funding mechanisms, business flexibility and innovation, North America is expected to grow in the forecast period. Also, the presence of various Electronic Skin patches manufacturers, will create profitable opportunities for key market players. Continuous technological advancement and flexible recovery policies also contribute to market growth in the region.

Major players in the Electronic Skin Market are investing in research and development and continue to develop their products. In addition, companies are focusing on the use of artificial intelligence and machine learning in Electronic Skin development. Some of the leading players in the Global Electronic Skin Market include - MC10, Physical Optics Corporation, Dialog Semiconductor, Intelesens Ltd., 3M, Koninklijke Philips N.V., Plastic Electronics GmbH, ROTEX Global, SMARTLIFEINC LIMITED, VivaLNK, Xenoma, and Xsensio..