Human Augmentation Market Size

The human augmentation market size at the global level was worth USD 81.2 billion in 2022 and is expected to reach USD 205.2 billion by 2030.

Human augmentation means, technologies that magnify human productivity or efficiency and making the human body most better. On a day-to-day basis, advanced technologies are determined an inherent part of human experience. A huge collection of implants and other human augmentations are available attributed to advancements in technologies. 

Human augmentation concentrates on inventing mental and physical developments to intensify human productivity and efficiencies to augment quality and health of life.

MARKET DRIVERS

Factors driving human augmentation are growing advanced technologies in healthcare, the increasing popularity of wearable augmentation products, and robust military personnel. Factors like surging research and development activities, growing disposable income, and developing lifestyle changes escalate the human augmentation market growth over the mentioned period. 

Factors that positively influence the human augmentation market are growing adoption and advancements in robotics automation, and fuelling artificial intelligence technologies. The rising investments in artificial intelligence (AI) technologies, increasing demand for wearable augmentation devices in the healthcare sector propel the market growth during the mentioned period. 

MARKET RESTRAINS

The shortage of experienced professionals to manage or handle human augmentation devices and growing threats to recognize and data breaches are some factors hampering the human augmentation market growth. Also, the expensive nature of the human augmentation devices, ethical issues, social and legal issues hinder the market growth throughout the timeline period.  

COVID-19 Impact on the global Human Augmentation Market

The novel Coronavirus (COVID-19) has spread to every corner of the world affecting millions of people and businesses in every sector. World Health Organization announced an emergency public health issue. The pandemic has been one of the greatest health extremities. The pandemic has had left a negative impact on the human augmentation market for 2022. Small and medium-sized companies are failing to maintain their business over the foreseen future.

HUMAN AUGMENTATION MARKET REPORT COVERAGE

Segmentation Analysis

Human Augmentation Market - By Technology

• Wearable
• Virtual Reality
• Augmented Reality
• Exoskeleton
• Intelligent Virtual Assistants

The wearable technology human augmentation segment accounts for the largest market in the human augmentation market globally. 

Human Augmentation Market - By Device

• Body Worn
• Non-body Worn

The body-worn devices segment is expected to lead the human augmentation market with a significant share throughout the forecast period. 

Regional Analysis

Geographically, North America is dominating the human augmentation market globally. The region's growth owes to revolving growth in wearable devices because of different benefits like small and lightweight, comfortable, and efficacy. The US and Canada are the major contributors to the human augmentation market in the region. The United States market is leading the human augmentation market with the highest share. The growth owes to escalating early adoption of human augmentation devices by different end-users throughout the region.  

The European human augmentation market is witnessing promising growth throughout the forecast period. The region's growth owes to advanced technologies over wearable devices in the medical field. Germany, U.K, and France are the major countries in the human augmentation market. The growing awareness regarding the therapeutic applications of medical wearable products, rising population base, and surging new applications of innovative products help the human augmentation market forward. 

However, the Asia-Pacific region is expected to have the swiftest growth in the human augmentation market during the timeline period. In countries like India, China, and Japan, people are more aware of the advantages associated with wearable medical devices. 

Japan has a strong base for advanced technologies across the manufacturing industries exhibiting prominent prospects, and huge mobile users along with a high population base drive the human augmentation market in the country and throughout the region. 

The use of smart devices is increasing, the easy availability of cheap labor, and growing disposable income fuel the human augmentation market in India. 

Latin America is the second quickest growing region globally after Asia-Pacific. In LATAM, Brazil is one of the countries with the highest share

The Middle East and Africa continue to have constant and slow growth rates in the human augmentation market during the historical period. The government of the UAE recently launched a plan for artificial intelligence (AI) that transforms the government into a new phase of becoming an AI-driven government. The country has to prepare efficiently for the changes by expecting different challenges accomplishing the adoption of AI-based technologies. 

Key Market Players

Major key players involved in the global Human Augmentation market are 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).

Recent Developments in the Human Augmentation Market

• On October 7, 2022, Vuzik Corporation and Ambifi partnered to minimize the obstacles to utilize Smart Glasses for healthcare. The partnership will provide advantages for the manufacturing and service industries. 
• On December 23, 2022, Atheer, Inc. has completed its early stage certification of strong and portable new binocular X2 MR Glasses from a newcomer in the augmented reality hardware space, ThirdEyeGen, Inc. 
• On August 20, 2022, Ekso Bionics disclosed the EVO, a continuity boosting the assistive upper-body exoskeleton that increases the burden of repetitive work. 
• On July 16, 2022, an AI-powered digital voice recorder was launched by Mobvoi, the audio recorder seizes the audio necessary to do through the dual-noise.
• On September 14, 2022, B-Temia Inc. disclosed the 510 (K) clearance approval from the U.S regulator for the commercialization of its powered human mobility device Keeogo Dermoskeleton System in the USA.