The human augmentation market is estimated to be worth USD 131.7 billion in 2021 and is projected to reach USD 341.2 billion by 2026, at a CAGR of 21.0%.
Growing demand for wearable human augmentation devices in healthcare sector, the recent advent of AI-powered wearable devices and rapid technological advancements such as availability of fast processing chipsets, miniaturization of sensors, use of brain-computer interfaces and evolution of nanotechnology are some of the major factors contributing to the market growth globally.
Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=177215310
The adoption of human augmentation technologies is significantly increasing in the industrial and defense sectors. Many market players are developing technologies that enable efficient and safe execution of complex tasks such as lifting heavy loads. The use of various human augmentation products such as exoskeletons and AR/VR devices not only improve productivity but also emphasize on worker safety. Exoskeletons are used in various industries, such as shipbuilding, heavy machinery, and construction, as they can be customized for lifting heavy objects. Similarly, the defense sector has witnessed an increased adoption of AR/VR-powered smart glasses for training purposes. Along with the defense and industrial sectors, the commercial sector is also providing ample growing opportunities for market players that offer AR/VR devices and develop intelligent virtual assistants such as chatbots. The adoption of AR and VR devices in stores attract potential customers by providing detailed product information and an enhanced shopping experience.
The market in Asia Pacific is expected to witness higher growth compared to the other regions. The presence of technologically advanced manufacturing industries in countries such as Japan and China presents significant growth opportunities for human augmentation technologies. A massive mobile user base and a huge population in this region are the major factors driving the market growth in Asia Pacific. The surging demand for smart devices, increasing disposable income, along with easy availability of inexpensive labor, are the key driving factors for the accelerated growth of the human augmentation market in many developing countries in this region, such as India.
In recent years, there has been a surge in demand for wearable devices such as smartwatches and wristbands for consumer and healthcare applications such as fitness tracking and health monitoring. Moreover, the availability of miniaturized multifunctional ICs and advanced sensor technologies has facilitated the development of cost-effective wearable devices for various consumers applications. Different types of compact sensors can be integrated into wearable devices such as garments, hats, wristbands, socks, shoes, glasses, wristwatches, and headphones for continuous health monitoring. In recent years, there has also been a surge in demand for smart speakers due to the convenience provided by them. These devices can be linked to the smartphone through mobile applications and can be used to control connected household devices and appliances such as lights, refrigerators, and air conditioners.
Request Free Sample Report:
https://www.marketsandmarkets.com/requestsampleNew.asp?id=177215310
Untapped potential in developing countries such as India, China, etc., the growing need for improving industrial productivity and worker safety and the increasing demand for wearable devices for fitness tracking and health monitoring are providing ample growth opportunities for market players globally.
Human Augmentation Market-OverviewThe global focus on improving the lives of disabled citizens is estimated to reinforce the growth of the human augmentation market 2020.
Based on the regions, the Global Human Augmentation Market is segmented into North America, Europe, Asia Pacific, and the rest of the regions around the world.Industry Updates:Apr 2020 Alliance Design & Development Group (ADDG), a company specializing in assistive human augmentation technology and well known for creating SelectFlex® adjustable arch orthotics, has agreed to donate 10% of sales to Global Giving.
The company is an ergonomic vendor for Roche subsidiary Genentech, a principal player in advancing COVID-19 treatment.
Owing to reciprocally aligned philosophies, Genentech is giving millions to help those in distress by COVID-19, while ADDG is donating 10% of all SelectFlex sales to the Global Giving Coronavirus Relieve Fund for the similar purpose.Detailed Regional AnalysisThe regional review of the human augmentation market includes regions such as North America, Europe, Asia Pacific, and the rest of the regions around the world.
The U.S. controls the bulk of the human augmentation market share both in regards to revenue as well as the implementation of advanced solutions.Competitive AnalysisThe support provided by regulations is estimated to stave off the effects of the downturn considerably in the coming period.
The currency inflow is estimated to be restricted in the upcoming period, which may create further problems for the overall market growth.
The report includes basic information along with advanced market statistics of the global Human Augmentation market.
Accurate information about the market dynamics along with future growth prospects are analyzed in the report.
Data experts analyze the market information and come up with detailed insights revealing operating margins, competitive landscape, key industry trends and the factors impacting the global Human Augmentation market.
Different strategies undertaken by market players in order to get a competitive advantage over their competitors and increase their global market reach are also studied comprehensively in the report.The chapter on market dynamics includes market drivers, restraints, and opportunities which help familiarize with market potential and upcoming opportunities.
The chapter on key insights includes emerging trends from major countries, latest technological advancement, regulatory landscape, SWOT analysis, and porters five forces analysis.
The chapter on competitive analysis includes profiling of leading companies in the global market to map the leading companies and their focus of interest in the market.For More Enquiry and Discount related quarries: https://www.datalibraryresearch.com/enquiry/human-augmentation-market-1958SegmentationThe global Human Augmentation market has been segmented on the basis of production, region, market share and so on.
