According to a new report by Allied Market Research, titled, Electronic Skin Market by Application: Global Opportunities Analysis and Industry Forecast, 2020-2025, the Electronic skin market was valued at $464.04 million in 2020, and is projected to reach at $1,719.38 million by 2025, growing at a CAGR of 38.7% from 2021 to 2025.
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Electronic skin consists of stretchable network of sensors and flexible electronics, which are used in biometric prosthetics, intelligent robots, and others. It senses heat, pressure, temperature, and other influencing factors.
In 2020, wearable technology segment dominated the market, in terms of revenue, due to increased disposable income across various developing and developed nations.
North America is anticipated to be the highest revenue contributor to the electronic skin market in 2020, accounting for around 37.90% share, owing to rise in investment on robotics technology.
The report features a competitive scenario of the electronic skin market and provides a comprehensive analysis of key growth strategies adopted by the major players. The key players profiled in the study are MC10, Xensio, Rotex Inc. Intelesens ltd, Immageryworks Pty Ltd, Dialog Devices Limited, SmartLifeinc Limited, Xenoma Inc., Plastic electronic GmbH, and VivaLnK, Inc.
Key Findings of the Electronic Skin Market:
- Wearable technology segment is anticipated to generate the highest revenue in 2020, accounting for $186 million.
- North America is expected to dominate the market, in terms of market share, during the forecast period.