Human Augmentation Market Size, Share, Statistics

Updated on : Oct 22, 2024

Human Augmentation Market Size & Share

The global Human Augmentation Market size is expected to be valued at USD 253.6 Billion in 2023 and is projected to reach USD 545.1 Billion by 2028, growing at a CAGR of 16.5% during the forecast period from 2023 to 2028.

Product launches, acquisitions, partnerships, collaborations, agreements, and expansions are the major growth strategies adopted by the human augmentation industry players. These strategies have enabled them to efficiently fulfill the growing demand for human augmentation from different end-user industries and expand their global footprint by offering their products in all the major regions.

Human Augmentation Market Forecast to 2028

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Human Augmentation Market Trends

Driver: Growth in Virtual Reality (VR) and Augmented Reality (AR) technologies

The  Virtual Reality (VR) and Augmented Reality (AR) technologies is a significant driver for the human augmentation market growth, as these immersive technologies enhance training, simulation, and real-time data visualization, allowing users to interact with digital information and objects in ways that augment their skills and experiences, whether in fields like healthcare, education, or workplace training, thereby expanding the applications and adoption of human augmentation technologies.

Restraint: High cost of technology

One significant restraint in the human augmentation market is the high cost associated with developing and implementing these advanced technologies. The research, development, and manufacturing of human augmentation solutions involve cutting-edge materials, intricate engineering, and sophisticated software. These factors result in high initial capital investments, making the technology expensive for both developers and end-users. The cost of research and clinical trials to ensure safety and efficacy also adds to the overall expense.

Opportunity: Growing adoption of technologies in military and defense

The growing adoption of advanced technologies in the aerospace and defense sectors presents a significant opportunity for the human augmentation market. In these fields, technological advancements are often a matter of life and death, making the integration of human augmentation technologies crucial. Exoskeletons, wearable devices, augmented reality (AR), and cognitive enhancements are being employed to enhance the physical and cognitive capabilities of soldiers, pilots, and ground personnel. These technologies improve soldier performance, reduce the physical strain of lifting heavy equipment, and provide critical information through heads-up displays.

Challenge: Safety and liability issues

The human augmentation market presents a significant challenge in addressing safety and liability issues associated with the adoption of these technologies. As human augmentation technologies become more integrated into various aspects of life, including healthcare, the workplace, and everyday activities, ensuring the safety of users and establishing clear liability frameworks becomes crucial. There's a risk of unforeseen health complications, such as allergic reactions to implanted devices or cyberattacks targeting wearable technologies.

Human Augmentation Market Ecosystem

The human augmentation industry is dominated by established and financially sound manufacturers with extensive experience in the industry. These companies have diversified product portfolios, cutting-edge technologies, and strong global sales and marketing networks. Leading players in the market include Samsung from South Korea, Alphabet Incorporation from US, Apple Inc. from US, Meta from US, Microsoft from US.

Human Augmentation Market Segment

Based on product type, the biometric systems market for human augmentation to hold second highest market share during the forecast period

With increasing concerns about security in various sectors, such as finance, healthcare, and government, the demand for robust authentication and identification methods is growing. Biometric systems offer highly secure and reliable ways to verify and validate individual identities.

Ongoing advancements in biometric technology, including facial recognition, fingerprint scanning, and iris recognition, have made these systems more accurate, accessible, and cost-effective, increasing their adoption in various industries.

Based on functionality, the non body-worn market for human augmentation to hold second highest market share during the forecast period

Non-body-worn devices, such as brain-computer interfaces (BCIs) and neural implants, offer the potential to enhance cognitive and physical performance without the need for external wearables. BCIs enable direct communication between the brain and external devices, allowing for improved control and interaction. Regulatory bodies in healthcare are increasingly approving and regulating the use of non-body-worn medical devices, providing a supportive environment for their development and adoption.

Based on end-user, the medical end-user market for human augmentation to hold second highest market share during the forecast period

The medical field is constantly innovating, and human augmentation technologies play a vital role in improving healthcare outcomes. Medical augmentations include wearable health devices, robotic surgery systems, and neural implants, which enhance patient care and treatment.

Remote patient monitoring and telemedicine are on the rise. Wearable medical devices allow healthcare providers to monitor patients' vital signs and health conditions remotely, leading to better care and early interventions.

Human Augmentation Market Regional Analysis

Human augmentation market in Asia Pacific to hold the second highest market share during the forecast period

The Asia Pacific region, including countries like China, Japan, and South Korea, is known for its rapid technological advancements. These nations invest heavily in research and development, fostering innovation in human augmentation technologies. Asia Pacific countries are experiencing an increased demand for healthcare services. This has led to the development of medical augmentations, wearable medical devices, and surgical robotics, all of which contribute to the growth of the human augmentation market.

Human Augmentation Market Statistics by Region

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Top Human Augmentation Companies - Key Market Players

The human augmentation companies is dominated by players such

• Samsung (South Korea),
• Alphabet Incorporation (US),
• Apple Inc. (US),
• Meta (US),
• Microsoft (US),  and others

Human Augmentation Market Report Scope

Human Augmentation Market Highlights

The study categorizes the human augmentation market based on the following segments:

Recent Developments in Human Augmentation Industry

• In September 2023, Apple Watch Series 9 also has a new 4-core Neural Engine that can process machine learning tasks up to twice as fast, when compared with Apple Watch Series 8. The power efficiency of the S9 SiP allows Apple Watch Series 9 to maintain all-day 18-hour battery life.
• In September 2023, Fitbit launched Charge 6 fitness tracker. It has most accurate heart rate on a fitness tracker and the ability to connect to compatible gym equipment.
• In July 2023, Garmin the launch of two powerful and feature-rich outdoor smartwatch series:  the fenix 7 Pro and epix Pro Series. These next-generation smartwatches are designed to meet the demands of athletes, adventurers, and fitness enthusiasts, providing them with the ultimate performance and tracking capabilities.
• In June 2023, Samsung launched its next generation Galaxy Watch6 series. Galaxy Watch6 series now offers in-depth analysis of Sleep Score Factors — total sleep time, sleep cycle, awake time, plus physical and mental recovery to help users understand the quality of sleep received each night.
• In April 2023, Casio launched the smartwatch. The smartwatch has a built-in optical sensor which can be used to track your heart rate, and you can also track your blood oxygen levels with the gadget. An accelerometer tracks your steps though the wearables do not have GPS; linking the watch to your smartphone enables you to track your distance, and route travelled while walking or running.
• In February 2023, Sony launched the VR glasses. These are virtual reality glasses that were released in 2023. They have the highest pixel density display among commercial OLED panels. PlayStation VR2 can be used with the PlayStation 5 console.
• In October 2022, Fossil launched the Gen 6 Wellness edition smartwatch powered by Google’s updated Wear OS 3 platform. The Fossil Gen 6 Wellness edition features Snapdragon Wear 4100+, fast charging, and Bluetooth connectivity above 5.0.
• In August 2022, Vuzix introduced Blade 2 smart glasses, its third generation Blade model. Configured primarily for commercial use, Vuzix Blade 2 smart glasses pack a power efficient high performance Qualcomm processor that now runs Android 11 in support of a large variety of enterprise-focused apps.

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