What Is The Current and Historic Market Size Analysis Of The Human Augmentation Market?
The human augmentation market has seen considerable growth due to a variety of factors.
• The market size of human augmentation has been expanding at an exceptional rate in the past few years. Its growth is projected to go from $230.56 billion in 2024 to $284.59 billion in 2025, with a compound annual growth rate (CAGR) of 23.4%.
This significant increase during this historic period is due to the increasing adoption of human augmentation, enhanced research and development, sizable capital expenditure, and growing demand for human augmentation.
What are the Market Size and Expected Growth Rates for the Human Augmentation Market?
The human augmentation market is expected to maintain its strong growth trajectory in upcoming years.
• Predictions indicate quick expansion of the human augmentation market in the forthcoming years, growing to a staggering $577.83 billion by the year 2029 along with a consistent annual compound growth rate (CAGR) of 19.4%.
The acceleration during this forecasted period can be attributed to a surge in uptake in the medical, defense, and industrial sectors, a heightening demand for wearable technology and virtual reality devices, growing fascination towards augmented reality and exoskeleton technology, and expansion in the human augmentation industry. Some major trends expected in this forecasted period are the rise in the usage of wearable devices and virtual reality technology, the progress in AI-integrated wearable devices, and the technological evolution within human augmentation devices.
Which Key Drivers Are Propelling The Human Augmentation Market's Growth?
The human augmentation market is predicted to expand significantly due to the rising use of intelligent wearable devices. These wearable electronics, which are either worn as accessories or incorporated into clothing and accessories, usually have sensors, connectivity capabilities, and sophisticated computing features. They use human augmentation to offer users innovative ways to track, improve, and engage with their physical and cognitive functions. For example, according to a report by the UK-based non-profit organization OxJournal in August 2023, the global number of smart wearable devices reached 275 million units in 2021 and is anticipated to escalate to 440 million units by the conclusion of 2024. As such, the surge in the adoption of smart wearable devices is set to spur the development of the human augmentation market.
What Are The Key Segments Within The Global Human Augmentation Market?
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
Subsegments:
1) By Wearable Devices: Fitness Trackers, Smartwatches, Health Monitoring Devices, Smart Clothing
2) By Augmented Reality Devices: Smart Glasses, AR Headsets, AR-Enabled Smartphones And Tablets
3) By Virtual Reality Devices: VR Headsets, VR Gloves, VR Motion Controllers
4) By Exoskeletons: Full-Body Exoskeletons, Lower-Limb Exoskeletons, Upper-Limb Exoskeletons
5) By Biometric Systems: Fingerprint Recognition Systems, Iris Recognition Systems, Facial Recognition Systems, Voice Recognition Systems
6) By Intelligent Virtual Assistants: AI-Powered Personal Assistants, Chatbots For User Interaction, Virtual Health Assistants
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What Emerging Trends Are Influencing The Growth Of The Human Augmentation Market?
Large corporations in the human augmentation market are prioritizing product innovation, like walk-sensing and coaching systems, in order to raise their market profitability. This technology strives to enhance one's gait and posture through sensing, diagnosing, and tutoring the individual's walking style. For example, Kyocera Corporation, a Japan-based electronics firm, unveiled a product named Physical Avatar in October 2022. This instrument gives a physical presence to remote workers at their workplace and enables them to communicate with their team members via a 360-degree camera and microphone array. Furthermore, they showcased new human augmentation technology models in Japan that integrate advanced AI to boost human proficiency. Their goal is to invent technologies that contribute to individual safety, comfort, and improved living standards. Among the proposed solutions is the Walk Sensing and Coaching System which employs sensors to study walking habits and offers guidance to enhance posture and lessen the possibility of falls.
Who Are the Key Players In The Human Augmentation Market?
Major companies operating in the human augmentation market report are:
• 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.
What Are The Regional Insights Into The Human Augmentation Market?
North America was the largest region in the human augmentation market in 2024. 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.
