The human augmentation global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Human Augmentation Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The human augmentation market size has grown exponentially in recent years. It will grow from $186.88 billion in 2023 to $230.56 billion in 2024 at a compound annual growth rate (CAGR) of 23.4%. The growth in the historic period can be attributed to rising adoption of human augmentation, growing research and development, high cost of capital expenditure, increasing demand for human augmentation.
The human augmentation market size is expected to see exponential growth in the next few years. It will grow to $488.89 billion in 2028 at a compound annual growth rate (CAGR) of 20.7%. The growth in the forecast period can be attributed to rising adoption of medical, defense, industrial, increasing demand for wearable devices and virtual reality technology, growing interest in augmented reality and exoskeleton technology, expanding opportunities within the human augmentation industry. Major trends in the forecast period include increasing adoption of wearable devices and virtual reality technology, advancements in ai-powered wearable devices, technological advancements in human augmentation devices.
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Scope Of Human Augmentation Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Human Augmentation Market Overview
Market Drivers –
The increasing adoption of smart wearable devices is expected to propel the growth of the human augmentation market. Smart wearable devices refer to electronic devices that are worn as accessories or embedded into clothing and accessories, typically equipped with sensors, connectivity features, and advanced computing capabilities. Human augmentation is used in smart wearable devices to provide individuals with new ways to monitor, enhance, and interact with physical and cognitive functions. For instance, in February 2023, according to a survey of 8,014 respondents by Digital Health Consumer Adoption Survey by Rock Health Inc., a US-based digital health solutions company, In 2022, 46% of respondents owned a wearable smart device, up 4 percent from 2020 (43%), and 45% in 2021. Therefore, the increasing adoption of smart wearable devices is expected to propel the growth of the human augmentation market.
Market Trends –
Major companies operating in the human augmentation market are focusing on product innovations, such as walk-sensing and coaching systems, to increase their profitability in the market. Walk-sensing and coaching systems are a type of technology that aims to improve posture and walking technique by sensing, diagnosing, and coaching the user’s walk. For instance, in October 2022, Kyocera Corporation, a Japan-based electronics company, launched Physical Avatar, which provides a physical representation for remote workers in the office and allows them to interact with colleagues through a 360-degree camera and microphone array. It also introduced new human augmentation technology prototypes in Japan with advanced AI to enhance human abilities. The company aims to develop technologies that contribute to personal safety, convenience, and a higher quality of life. One of the solutions described is the Walk Sensing and Coaching System, which uses sensors to analyze walking patterns and provide coaching to improve posture and reduce the risk of falls.
The human augmentation market covered in this report is segmented –
1) By Product Type: Wearable Devices, Augmented Reality Devices, Virtual Reality Devices, Exoskeletons, Biometric Systems, Intelligent Virtual Assistants
2) By Technology: AI Integration, Quantum Computing Augmentation, Biohacking and Bio-Augmentation
3) By End-User: Consumer, Commercial, Medical, Aerospace and Defense, Industrial, Other End-users
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Regional Insights –
North America was the largest region in the human augmentation market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the human augmentation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Alphabet Inc., Toyota Motor Corporation, Samsung Electronics Co. Ltd., Microsoft Corporation, General Motors Company, Huawei Technologies Co. Ltd., Sony Corporation, Raytheon Technologies Corporation , Panasonic Holdings Corporation, NVIDIA Corporation, Parker Hannifin Corporation, Garmin International Inc., Facebook Reality Labs (FRL), Fossil Group Inc., Magic Leap Inc., Hocoma AG , Wandercraft SAS, Touch Bionics Inc., Cyberdyne Inc., Vuzix, Ekso Bionics Holdings Inc., ReWalk Robotics Inc., Atheer Inc., BrainGate Company, Bionik Laboratories Corporation, Rex Bionics Ltd., B-Temia Inc., Life Sense (Pty) Ltd., Wearable Robotics SRL, Ekso Bionics Holdings Inc.
Table of Contents
1. Executive Summary
2. Human Augmentation Market Report Structure
3. Human Augmentation Market Trends And Strategies
4. Human Augmentation Market – Macro Economic Scenario
5. Human Augmentation Market Size And Growth
…..
27. Human Augmentation Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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