Solution Plan
Last updated
Last updated
The cosmetics industry expects smart beauty incorporating ICT technology to become a new consumption form. Not only domestic but also global cosmetic companies are actively entering the smart beauty market. The most obvious trend of smart beauty is 'personalized cosmetics', like customized treatment in the medical field. Products are mixed and subdivided on the spot by reflecting individual skin types and preferences, and all of these are analyzed and provided based on user's data.
Such data-based beauty tech can be integrated into various fields such as electronic devices, mobile, cloud, nanotechnology, artificial intelligence (AI), and Internet of Things (IoT). The outlook for beauty tech market is very bright. Since beauty products including cosmetics are purchased frequently, easy to link with various services, and have a wide range of products ranging from necessities to luxury goods, which is why they are excellent in versatility. PNC Market Research, a market research firm, predicted that the global beauty tech market will grow at an average annual rate of 19.1%, reaching 10.09 trillion won in market size by 2023.
Among the products released in the beauty tech market, various beauty devices that reflect image processing technology are on the rise. In particular, smart packaging is a notable issue, and the development of applications with usability and convenience in connection with beauty devices is becoming more important. Therefore, a beauty solution that can receive recommendations for beauty information, analysis reports, skin care shops, and cosmetics on user-customized diagnosis and management methods should be designed. In addition, it should be designed to define the variables of the data collection method and provide customized solutions such as suggestions, monitoring, beauty/home care information, and linkage with professional services to users.
Blockchain enables data providers (consumers, hospitals, etc.) and ecosystem participants to receive rewards through token economy. In the automated system of smart contracts, service providers will reduce operating costs, and data providers will voluntarily provide data and use the recommendation system for their own benefit. On the blockchain, such a system and the flow of data will be transparently disclosed, creating a trustworthy environment.
In addition, it is possible to store beauty treatment record information provided by hospitals and clinics, consumer evaluation information for hospitals and clinics, personal beauty information through smart mirrors, and beauty product transaction information in shopping malls in the block chain.
The topic of Beauty Tech is artificial intelligence and personalization. AI makeup, AI skincare, AI hair, AI facial analysis, and AI beauty advisor are the leading solutions in AI-based beauty technology. Beauty tech is also expected to develop into specialized technologies from the user's point of view. Each individual has different attributes such as skin/body type/hair/ etc., also, there are various characteristics to consider such as lifestyle, occupation, and environment. As such, personalization is a complex and difficult field. It is no exaggeration to say that the success or failure of beauty care products that will appear on the market in the future will depend on how to come up with a more convenient and affordable personalized solution. In the future, the direction of the evolution of beauty tech will also follow.
