Human Augmentation Market Size was valued at USD 160.91 billion in 2022 and is expected to reach USD 789.73 billion by 2030, growing at a CAGR of 22% over the forecast period 2023-2030.
Human augmentation is a technology used to increase human efficiency or ability in a practical way. A combination of electronics, biotechnology, and equipment used to develop existing or needed human skills through artificial or natural methods. Human development has made great strides in its use, especially in health care, military, and defense, and productive organizations are also financing the development of exaggeration technology in the form of exoskeletons. The growing demand for human augmentation in various sectors is encouraging developers to make significant progress in human augmentation, which will boost market growth during forecasting.
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KEY DRIVERS:
Rising adoption of wearable devices.
Huge demand for wearable augmentation devices in the healthcare sector.
RESTRAINTS:
AR and VR technology has raised health concerns.
Human augmentation devices are expensive.
OPPORTUNITIES:
Human augmentation technologies are increasingly being used to protect the safety and strength of military personnel.
Human augmentation technologies are becoming more widely used in industrial applications.
CHALLENGES:
Menace of data breach and identity theft.
Devices must be modified on a regular basis.
The COVID-19 epidemic has had a profound effect on human augmentation, which has led many device production companies to reduce their production capacity and close for extended periods of time. In response to the disruption caused by the epidemic, many partners of major channels and technology companies were forced to cut costs and productivity in other sectors. The resulting industrial and technological changes brought new challenges to the manufacturing industry. As a result, industry partners are beginning to work on defensive and effective mitigation solutions. However, the growth of the human augmentation market is slowly returning to normal, and as a result, incomes are also growing slowly. A growing number of nations are using software-enabled applications to provide more accessible gadgets to enhance the significant benefits of human augmentation technology.
By Product, the Human augmented market is subdivided into Wearable Devices, Virtual Reality Devices, Augmented Reality Devices, Exoskeletons, and Intelligent Virtual Assistants. Wearable devices are expected to respond to the largest share of the human augmented market during forecasting. The growing use of wearable equipment to monitor health and fitness parameters is a major factor contributing to market growth. In addition, the development of low-performance low-frequency ICs and advanced sensor technology have enabled the development of inexpensive wearable devices for a variety of consumer applications. Different types of compact sensors can be combined into wearable devices such as garments, hats, wrist straps, socks, shoes, glasses, and wristwatches to monitor ongoing health.
By Functionality, the Human augmented market is subdivided into Non-Body-worn and Body-worn. Non-body-worn human products are expected to record the highest growth during the forecast period. The growing demand for immersed content for AR and VR devices for sports and entertainment applications is expected to further the growth of the AR and VR software market, thereby boosting the market growth of non-body-worn products.
By Application, the Human augmented market is subdivided into Consumer, Medical, Industrial, Commercial, Aerospace & Defense, and Others. The human augmented market for consumer applications is expected to respond with the largest market share at the time of forecasting. The growing demand for AR and VR HMD for sports and entertainment applications, as well as the growing acceptance of wearable devices for health and monitoring, are some of the primary drivers driving the growth of the human augmented market. In recent years, there has been an increase in the demand for intelligent speakers due to the convenience offered by them. These devices can be connected to a smartphone through mobile apps and can be used to control connected home appliances and appliances such as lights, refrigerators, and air conditioners. The entertainment, fitness, and sports sectors have become the first recipients of various human development technologies and have provided growth opportunities for various market players across the value chain.
BY PRODUCT
Wearable Devices
Virtual Reality Devices
Augmented Reality Devices
Exoskeletons
Intelligent Virtual Assistants
BY FUNCTIONALITY
Non-body-worn
Body-worn
BY APPLICATION
Consumer
Medical
Industrial
Commercial
Aerospace & Defense
Others
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The human augmented market is divided into four regions: the United States, South America, Europe, Asia Pacific, and the rest of the world. North America has the largest market share, followed by Europe and the Asia Pacific region, in terms of value. North America plays a vital role in the global market for human enhancement. The rapid development of artificial intelligence technology, as well as the development of artificial intelligence technology, is driving the growth of the human augmentation industry. Europe is the second largest market for human augment in the world, behind the United States. In due course, the area is expected to develop at the highest rate in the world. Technological advances and the growing need for platforms to measure system performance across all specific business segments in the area are factors that support the growing demand for the human augmentation market.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
South Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of the Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The key players in the Human Augmentation market are Samsung Electronics, Google LLC, Ekso Bionics, Vuzix Corporation, Garmin Ltd, Fossil Group, Inc., B-Temia Inc, Casio, Magic Leap, ReWalk Robotics, Cyberdyne Inc & Other Players.
Samsung Electronics-Company Financial Analysis
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 160.91 Million |
| Market Size by 2030 | US$ 789.73 Million |
| CAGR | CAGR of 22% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Product (Wearable Devices, Virtual Reality Devices, Augmented Reality Devices, Exoskeletons, Intelligent Virtual Assistants) • By Functionality (Non-Body-Worn, Body-Worn) • By Application (Consumer, Medical, Industrial, Commercial, Aerospace & Defense And Others) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Samsung Electronics, Google LLC, Ekso Bionics, Vuzix Corporation, Garmin Ltd, Fossil Group, Inc., B-Temia Inc, Casio, Magic Leap, ReWalk Robotics, Cyberdyne Inc and Other. |
| Key Drivers | • Rising adoption of wearable devices. • Huge demand for wearable augmentation devices in healthcare sector. |
| Restraints | • AR and VR technology have raised health concerns. • Human augmentation devices are expensive. |
The market value will be expected to reach USD 789.73 billion by 2030, and grow at a CAGR of 22% over the forecast period 2023-2030.
The market has been segmented with respect to product, functionality and application.
The key players in the Human Augmentation market are Samsung Electronics, Google LLC, Ekso Bionics, Vuzix Corporation, Garmin Ltd, Fossil Group, Inc., B-Temia Inc, Casio, Magic Leap, ReWalk Robotics, Cyberdyne Inc and Other.
Top-down research, bottom-up research, qualitative research, quantitative research, and Fundamental research.
Manufacturers, Consultants, Association, Research Institutes, private and university libraries, suppliers, and distributors of the product.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Human Augmentation Market Segmentation, by Product
8.1Introduction
8.2 Wearable Devices
8.3 Virtual Reality Devices
8.4 Augmented Reality Devices
8.5 Exoskeletons
8.6 Intelligent Virtual Assistants
9. Human Augmentation Market Segmentation, by Functionality
9.1 Introduction
9.2 non-body-worn
9.3 Body-worn
10. Human Augmentation Market Segmentation, by Application
10.1 Introduction
10.2 Consumer
10.3 Medical
10.4 Industrial
10.5 Commercial
10.6 Aerospace & Defense
10.7 Others
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12 Company Profiles
12.1 ReWalk Robotics.
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 Samsung Electronics
12.3 Google LLC
12.4 Ekso Bionics
12.5 Vuzix Corporation
12.6 Garmin Ltd
12.7 Fossil Group, Inc.
12.8 B-Temia Inc
12.9 Casio
12.10 Magic Leap
12.11 Cyberdyne Inc
12.12 Other
13 Competitive Landscape
13.1 Competitive Benchmark
13.2 Market Share analysis
13.3 Recent Developments
14 Conclusion
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