Personalized Beauty Devices Market
The Personalized Beauty Devices Market is expected to boom over the forecast period. The increasing development and the ongoing technological innovation in these devices are the prime forces strengthening the market growth.
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Personalized Beauty Devices Market Dynamics
The advancement in Artificial Technology across the nation is the stand alone factor responsible for the growth of the global personalized beauty devices market. This helps to comprehend the needs of customer skincare and helps them to resolve immediately. For example, Olay, in 2020, introduced a latest ‘Skin Advisor platform, which makes use of artificial intelligence to provide users with advices and consultations on personal skincare. It interprets a person’s skin conditional on single selfie and your current skincare choices, and the AI in it determines the person’s skin age. Then, it gives a personalized skincare routine depending on the age and concerns of person’s skin. In addition, the Cosmetic, Toiletry & Perfumery European Association states that the global cosmetic industry accounted to be 10,690 USD million in 2020 in contrast to 11,399 USD million in 2019. Thus, these increasing figures illustrate a huge potential of the market. Furthermore, due to the rising age, people choose to nurture their skin more. This will supplement the Personalized Beauty Devices market share.
However, insufficient awareness and inadequate competence about using these products among consumers might restrain the market growth.
Product Type Segment Drivers
By type, the skincare devices segment is anticipated to seize an exceptional share in the global personalized beauty devices market over the forecast period. This is because of their excessive application in several processes such as micro needling and waxing. On the other hand, the Facial skincare devices are anticipated to grow at the fastest rate during the forecast period. This is attributed to their ability to cure several skin related problems like acne and scars, and removes dirt and pigments from the face.
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