AI skin analysis technology to deliver hyper-personalized skincare. Research.
Skin Analysis Technologies Market to Reach $275 Million by 2030: IDTechEx Research.
Skin acts as an outer covering and barrier – not only is skin health crucial to the overall health of an individual, but skin appearance has significant societal impact as well (body image, communication, etc.). IDTechEx forecasts the market for skin analysis technologies to reach a value of $275 million by the year 2030.
Skin analysis tools can provide brands with increased opportunities to engage and build brand loyalty. When the quality of the analysis is high enough, the data can be used in the lab for future development. Daily skin analysis enables hyper-personalized skincare – optimal use of the product can be instructed based on the skin condition and potential effects from the local environment.
The skin analysis industry has been established for several decades, with companies such as Courage + Khazaka Electronic, CortexTechnology, and Canfield Scientific established in the late 1980s. These companies are mainstays in the industry, providing laboratories with gold standard skin analysis techniques used in safety and efficacy studies around the world.
The Rise of Cameras and AI
Outside of the skin analysis industry, hardware developments, particularly in the improvement of smartphone cameras, has rapidly enabled high quality images to be taken by the everyday consumer. When combined with AI in the form of machine learning, suddenly anybody owning a (recent) smartphone has the capability of skin analysis in their hands. Companies have capitalized on this combination of innovations to drive the overwhelmingly offline industry into the digital world. Whether they employ the services of start-up, acquire the company, or partner with AI players, brands are enjoying larger basket sizes and higher conversion rates thanks to skin analysis. The education and personalization previously limited to brick and mortar stores has been ported into the online world.
Find out more how skin analysis technologies can help drive business in the crowded skincare market.