Human Augmentation Market Forecasts to 2028 – Global Analysis By Functionality (Non-Body Worn, Body Worn), Technology (Virtual Reality, Exoskeleton, Augmented Intelligence, Augmented Reality), and By Geography
According to Stratistics MRC, the Global Human Augmentation Market is accounted for $86.36 billion in 2020 and is expected to reach $418.28 billion by 2028 growing at a CAGR of 21.8% during the forecast period. Some of the key factors propelling the market growth include rising popularity of wearable augmentation products, surge in technology penetration in healthcare, and growing use of exoskeletons in military applications and advanced modification in the human body. However, lack of security as well as shortage of skilled professional may hamper the market growth.
Human augmentation refers to the technologies that are used for bringing physical improvement in the integral parts of the human body. It is the integration of electronics, biotechnology, and machines that are used to improve the existing or required skills in humans by the use of artificial or natural methods. It has experienced a chief improvement towards its application, mostly in healthcare, military, and defense, and manufacturing organizations are also financing in arranging this technology in the form of exoskeletons. It is also called as human 2.0 and human performance enhancement (HPE).
By technology, the virtual reality segment is anticipated to grow at a significant rate during the forecast period, due to growing use in applications such as education and e-retailing sectors owing to the provision of easy learning and promotions and advertising, respectively and the use of virtual reality will eliminate physical computers and create an exponentially increasing base of remote workers as well as reduce operating costs.
Based on the Geography, Asia Pacific is projected to have considerable market growth during the forecast period, owing to rising investment in research & development, growing innovative applications of augmentation products, increasing demographics and economies in developing countries such as India and China, rising awareness about the benefits of medical wearable augmentation devices among the consumers n, and increasing awareness and development in exoskeleton technology.
Some of the key players in Human Augmentation Market include General Motors, Panasonic Corporation, Samsung Electronics Co. Ltd., Garmin, Vuzix Corporation, B-Temia Inc., Toyota Motor Corporation, Google Inc., Life Sense Group B.V, Raytheon Company, Fossil Group Inc., Magic Leap Inc., Ekso Bionics Holdings Inc., Casio, BrainGate Company, Parker Hannifin Corp, Rewalk Robotics Inc., and Atheer, Inc.
• Non-Body Worn
• Body Worn
• Virtual Reality
• Wearable Augmentation
• Augmented Intelligence
• Augmented Reality
• Intelligent Virtual Assistant
• In-Built Augmentation
Sales Channels Covered:
• Direct Sales
• Aerospace and Defense
• Information Technology (IT)
• Consumer Electronics
• Banking, Financial Services and Insurance (BFSI)
• Energy and Utility
• Travel & Hospitality
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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