Human Augmentation Market Outlook - 2030
Human augmentation is a field of research is aimed at improving a person's skills through medicine or technology. The global market for human augmentation is divided on the basis of technology and device. Human body augmentation has made significant progress in its application, especially in the field of medical care, military, national defense, and manufacturing. The industries are investing in technology in the form of exoskeleton.
Human augmentation is another popular technology that should change the way people communicate with each other is real-time voice translation. Augmented reality uses the latest innovations in mobile technology, big data analysis, and networking to provide companies with new communication channels and real-time web applications. The diverse areas of application for human augmentation market include energy & utility, healthcare, defense, and many others. All these factors are assisting the growth of market globally.
The global human augmentation market is segmented on the basis of technology, device, application, industrial vertical, and region. Based on technology, the market is divided into wearable, virtual reality, augmented reality, exoskeleton, and intelligent virtual assistants. In terms of device, the market is categorized into body worn and non-body worn. On the basis of application, the market is divided into consumer and enterprise. On the basis of the industrial vertical, market is divided into consumers, medical, healthcare, industrial, aerospace, defense, education, energy & utility, and other. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).
Key players operating in the global human augmentation industry include Google Inc. (US), Samsung Electronics Co. Ltd. (South Korea), Ekso Bionics Holdings Inc. (US), Vuzix Corporation (US), Garmin (US), Fossil Group Inc. (US), B-Temia Inc. (Canada), Casio (Japan), Magic Leap Inc. (US), Rewalk Robotics Inc. (Israel), Polar Electro (Finland), P&S Mechanics. (South Korea), Jawbone Inc. (US), Life Sense Group B.V (Netherlands), Atoun (Japan), Mobvoi (China), Rex Bionics (New Zealand), Goqii (US), Guangdong BBK Electronics Co. Ltd. (China), and Atheer, Inc. (US).. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global human augmentation market.
COVID-19 Impact Analysis
The outbreak of the COVID-19 pandemic has severely affected the business of almost all the industries. While the pandemic crisis unfolds, regulatory bodies all over the world are in the compulsion to impose strict lockdown and travel bans. Moreover, this has drastically affected the growth of the human augmentation market share.
Due to the COVID-19 pandemic, the supply chain systems were disrupted and the strict instruction of governing bodies to follow social distancing norms forced the industries to work with minimal workforce, which led to the decrease in the production rate of the industries. Thus, all these factors negatively contribute to the growth of the market.
However, after the COVID-19 pandemic, the diversified and innovative applications of human augmentation, such as defense and aerospace, healthcare, energy & utility insurance and will drive the human augmentation market.
Top Impacting Factors
The growing demand for wearable augmentation products, increasing use of exoskeletons for military purposes and the advanced transformation of the human body are factors that have led to the growth of the human augmentation market.
In aerospace and defense, human augmentation technologies, such as eye, tracking, and gesture control, are used to control In-flight Entertainment and Connectivity systems (IFEC), which are widely used in the aerospace and defense industries. Gesture technology enables passengers to interact naturally with their in-flight entertainment, which increases their importance of human augmentation. This led to drive the growth of human augmentation market.
In healthcare, rising R&D in the healthcare human augmentation technologies can be used for operating patients. Thus, rising R&D in the healthcare drives the market growth for human augmentation industry.
Expensive medical equipment and lack of well-trained technical will restraint the growth of the human augmentation market opportunity.
Extensive Use of Human Augmentation in the Defense and Aerospace
The defense sector has attracted a large percentage of R&D investment due to its large number of applications and subsidized prosthetic & exoskeleton products. Technological innovations to improve prosthetic skills and realize natural movement continue to increase demand. Therefore, R&D in defense provides demand for human augmentation in the market.
Surge in Usage in Healthcare Industry
Human augmentation system changes the healthcare system. The health system already uses data and technology to prevent rather than respond to disease, and empowering people will accelerate this change. The implanted sensor can realize early detection. The ability to interpret genetic information continues to evolve, but this can provide a powerful tool for understanding personal health risks. Thus, rise in technological development in the healthcare industry provides human augmentation to penetrate more in the market and thus, increase the demand for human augmentation in the market.
Key Benefits of the Report
- This study presents the analytical depiction of the human augmentation market forecast along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global human augmentation market trends.
- The current market is quantitatively analyzed to highlight the global human augmentation market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global human augmentation market analysis depending on competitive intensity and how the competition will take shape in the coming years.
Questions Answered in the Human Augmentation Market Research Report
- Which are the leading players active in the human augmentation market size?
- What are the detailed impacts of COVID-19 on the market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
Human Augmentation Market Report Highlights
| Aspects | Details |
 By Technology |
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 By Application |
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 By Region |
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 Key Market Players | Magic Leap Inc. (US), Rewalk Robotics Inc. (Israel), Ekso Bionics Holdings Inc. (US), Vuzix Corporation (US), Casio (Japan), Google Inc. (US), Samsung Electronics Co. Ltd. (South Korea), Fossil Group Inc. (US), B-Temia Inc. (Canada), Garmin (US) |
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