Human Augmentation Market Size, Share, Price, Trends, Growth, Analysis, Key Players, Outlook, Report, Forecast 2021-2026

human augmentation market

The human augmentation market is expected to be driven by the intervention of technological advancement in various industrial sectors during the forecast period 2021-2026

30 NORTH GOULD STREET, WYOMING, USA, Oct. 7, 2022 /EINPresswire.com/ — Expert Market Research’s new report “Global Human Augmentation Market Report and Forecast 2021-2026” provides an in-depth analysis of the size of the global human augmentation market, assessing the market based on its segments such as human augmentation technology types, devices, applications, and major regions.

The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.

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Key highlights of the report include:

Market Overview (2016-2026)

Historical market size (2020): 84 billion USD
Forecast CAGR (2021-2026): 26%
Forecasted market size (2026): 298 billion USD

Growing technological penetration in the various industry verticals such as healthcare, aerospace, defense, and education, among others, has boosted the growth of the human augmentation market. Accelerating investments by IT industries in the deployment of human augmentation technology for the development of exoskeletons and the increased use of robotics in medical devices are further bolstering the growth of the market.

Rising research activities in the field of robotics, biotechnology and medical equipment in the research and development activities of various industries is fueling the market demand. Continuous advancements in electronics related to the development of visually assisted tactile enhancement systems with ultra-sensing technology capabilities have boosted the rate of investments for the human augmentation market.

Industry definition and major segments

Human augmentation is defined as technical advancements produced by integrating biotechnology, electronics, and mechanical techniques with or without the use of artificial intelligence that helps improve human productivity and capabilities. Prostheses, human wearable devices, pacemakers, genetic modification, and chip implantations are excellent human augmentation devices that complement human activities and have gained popularity over the years, driving the growth of the market.

The wearable segment holds the largest share of human augmentation technologies and is also expected to maintain its large share during the forecast period. Although the healthcare sector holds the largest share of the industry vertical, the defense sector is expected to register the highest CAGR due to field-induced virtual reality eye tracking and gesture control technologies for the industry. improved remote control systems, increasing connectivity in aerospace as well.

North America holds a major share of the market and is expected to witness a high growth rate owing to the increase in consumption of wearable devices.

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Basic types, human augmentation technologies can be divided into:

Portable
Virtual reality
Augmented reality
Exoskeleton
smart virtual assistant
Others

On the basis of devices, the industry is segmented into:

body carried
Not worn on the body

By Application, the industry is split into:

Consumers
Medical and healthcare
Industrial
Aeronautics and Defense
Education
Energy and utility
Others

Based on region, the industry is divided into:

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

Market trends

Human market trends such as increased implementation of artificial intelligence, improved applications of processing chipsets and others have supported the growth of the market. The market is witnessing considerable advances in sectors such as military and defence, healthcare and manufacturing.

Innovations in robotic prostheses have created newer opportunities for the market. For example, real-time language translation is expected to change the process of human interaction.

Neuralink (Elon Musk’s neuroscience start-up) revealed to Gertrude (pig) a coin-sized computer chip in her brain for two months, which could cure human diseases with the same type of implants. BMI (Brain-Machine Interfaces) and BCI (Brain-Computer Interfaces) are augmented human devices that allow direct communication between a brain and an external device.

Advances in machine learning have improved machine translation, extending advances in artificial intelligence. Moreover, major market players investing in extensive research and development activities are helping the market grow.

Main market players

Major market players are Vuzix Corporation, Google Inc., Samsung Electronics Co Ltd., Microsoft Corporation, B-Temia Inc. and others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.

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