In 2024, artificial intelligence (AI) dominated the beauty tech market, capturing largest revenue due to its role in personalization, virtual try-ons, and AI-powered skin analysis. Consumers increasingly prefer tailored beauty solutions, and AI enables customized skincare and makeup recommendations by analysing data such as skin type, concerns, and individual preferences. This personalized approach enhances customer satisfaction and engagement, particularly among millennials and Gen Z, who value tech-driven, data-backed beauty experiences.

In 2024, the skincare devices segment dominated the beauty tech market, driven by growing consumer demand for high-tech, at-home skincare solutions. The rise in awareness about skin health and personalized skincare routines is a key growth driver, as consumers increasingly seek professional-grade treatments at home, reducing reliance on salons and dermatologists. This segment includes acne devices, cleansing tools, rejuvenation devices, anti-aging devices, and other advanced skincare solutions. 

In 2024, the individual consumers segment dominated the beauty tech market, increasing popularity of at-home beauty tech devices is driving market growth, as consumers embrace self-care and wellness trends. AI-powered skincare tools, LED therapy masks, microcurrent devices, and smart cleansing brushes are enabling users to achieve salon-quality results at home, offering convenient, cost-effective, and high-tech beauty treatments without professional appointments.

North America dominated the beauty tech market, driven by the widespread adoption of AI and AR technologies by leading beauty brands. Companies like L’Oréal, Estée Lauder, and Sephora have heavily invested in AI-powered skin analysis tools and AR-based virtual try-on applications, enabling consumers to experience products virtually before purchase. These innovations not only enhance customer engagement but also reduce return rates and boost consumer confidence, solidifying North America’s leadership in the beauty tech industry.

The beauty tech market is highly competitive, with major global players focusing on innovation, strategic partnerships, and technological advancements to strengthen their market positions. Companies such as L’Oréal, Estée Lauder, Sephora, Shiseido, and Unilever are investing heavily in AI, AR/VR, IoT-enabled devices, and personalized beauty solutions to meet growing consumer demand for customized and tech-driven experiences. Strategic collaborations, such as Estée Lauder’s partnership with Exuud for smart fragrance technology, and L’Oréal’s GenAI-powered content labs, highlight the emphasis on R&D and digital transformation. The market landscape is shaped by rapid technological adoption, consumer-focused innovation, and aggressive marketing strategies, with companies striving to capture a larger share of the growing beauty tech segment.