The Ultimate Guide to SexTech Industry
Sex toys and sexbots are often what people think of when they hear SexTech, but there’s so much more to it. For as long as humans have been having sex, aphrodisiacs and imagination helped boost the sex drive. Technology has transformed and enhanced many aspects of our lives. Today, technology is about to activate the intimate and private aspects of human life. SexTech startups are already turning on thousands of men and women across the globe, with more to it than meets the eye.
What is SexTech, and Why Is It Important?
SexTech comprises businesses and ventures that designed to enhance, improve and disrupt the ways humans think, feel and know about sex, including smart sex toys, adult games, sexual, mental health apps, sexual mental health apps and dating apps. The term SexTech covers a broad and wide range of products and services that enhance an individual’s sexual health and experience using technology at its finest.
Sexuality is a topic that is as interesting as it is sensitive.SexTech is important now more than ever before is because of the social isolation-induced by the pandemic, which led many youngsters to struggle with their decreased sexual desire.
What Are The Possible Areas Of Applications?
SexTech startups turn people on in so many ways that never thought possible. And it is no news that millions of people across the globe are already retained to their favourite SexTech brands. As a modern catalyst for increased sexual drive, the most famous SexTech products, such as sexbots and smart dildos that can sweep a woman off her feet, are reshaping the concept of sexuality and intimacy. Following are the possible areas where the SexTech industry can create an impactful shift.
Democratizing Sexual Health
Creating awareness about sexual health is one of the most beneficial areas where SexTech can be rightly leveraged and applied. According to an article published on the BBC, in 2015, there were over 78,066 and 141,060 new STD infections among 15 to 19-years-olds and 20 to 24-years-olds, respectively, in the UK. Therefore, highlighting the importance of safe sex is exceptionally critical today.
Nurturing Digital Intimacy
With more advancements in technology, distance relationships become more convenient as devices like the Kissenger, which allows you to send a long-distance kiss to your loved ones, make digital intimacy a real thing.
Meetings The Needs Of The Disabled
Sexual health is no more a taboo or subject that needs society’s approval, as WHO already defined sexual health as a human right everyone deserves access to. The SexTech and FemTech industries are the most inclusive industries of all. They develop products that let women, LGBTQI+, and disabled people access the most fundamental needs, such as healthcare, sex, sexual mental health, etc.
What Is The Opportunity For Investors And Entrepreneurs?
Unlike any other industry, the SexTech sector is inundated with ideas and opportunities that can be started with low capital investment. Juniper Research has shown that the SexTech industry is predicted to reach a significant global growth of $40.4M by 2025. Many SexTech startups are optimistic about business growth in the upcoming years, as many innovative products are yet to be rolled out. Most importantly, there has been an upward trajectory in the number of investors vying to invest in this industry, given its creativity and resilience in the market.
How Is Sextech Transforming The Future Of Sexuality And Sexual Health?
As the entire terrain of human life gets permeated by technology, sexuality and sexual health is finally getting the attention it deserves. With frequent lockdowns and social isolation, casual sex has become a thing of the past. SexTech provides a wide range of products built to enhance and boost the sexual health of a human being, regardless of gender and physical abilities. Intimacy can be both physical and emotional. The SexTech industry has realized the connection between this intimacy with the future of wellbeing, thereby transforming sexuality and sexual health itself.
Top SexTech Companies Making a Breakthrough in
Here is the list of SexTech startups that are revolutionizing every aspect of sex and sexual health.
- Founder: Anna Lee
- Founded: 2013
- Employee Number: 1 – 10
Lioness; The world’s only vibrator that lets its users track their orgasms and make them better is from this company. According to its co-founder Anna Lee, the startup raised a $1.5M pre-seed round from Creative Ventures and angel investors.
- Founder: Cindy Gallop
- Founded: 2009
- Funds Raised: $2M
- Employee Number: 1 – 10
Launched in a TED in 2009, MakeLoveNotPorn has a mission to end rape culture through a human-curated social sex video-sharing platform.
- Founder: Andrew Gurza
- Founded: 2018
- Funds Raised: $8.7M
- Employee Number: 1 – 10
Handi trailblazed the first accessible sex toy created for people with disability. This small SexTech startup is on its mission to help disabled people break down the barriers in their sexual health through its creative sex toy.
2022 SexTech StartUps: Barriers & Perspectives
While this familiarity with SexTech products is gradually gaining popularity in many developed countries, there are several barriers today’s SexTech startups need to overcome. Advertising and financial aid lead these problems, but there are several other challenges.
It doesn’t matter how creative or transformative the ideas in the SexTech industry are; the restrictions they face from the regulatory boards are overwhelming and handicapping the development of the SexTech industry.
Lack of Financial and Banking Aid
As many investors are sceptical about the business growth, the SexTech industry is severely affected by the lack of financial services that it takes to create customer-centric products.
Talking About Sex Is Still Taboo, and It Is not Good for Sextech.
Even if the products sold by SexTech startups are incredibly innovative, many people feel weird to recommend them to others. In addition, reviewers on YouTube are worried about the social media guidelines, which seem to be the most affecting hurdles.
The Pandemic Is Messing With Your Sexual Wellbeing, But Technology Is Fighting Back
As sex education is far from close to the level it should be, technology is the only thing that could help us learn and understand many aspects of sexual health in our lives. To destigmatize and normalize several crucial factors for a healthy sexual life, it is time sexual health gets the attention it deserves.