The Human Augmentation Market is projected to grow from USD XX billion in 2020 to USD 206.9 billion by 2027, at a CAGR of 23.9%.
Latest added Human Augmentation Market research study by MarketDigits offers detailed product outlook and elaborates market review till 2027. The market Study is segmented by key regions that is accelerating the marketization. At present, the market is sharping its presence and some of the key players in the study are SAMSUNG, ReWalk Robotics, Ekso Bionics, Second Sight, Raytheon Company., Magic Leap, VUZIX, B-Temia, NEURALINK, TOYOTA MOTOR, Panasonic Corporation. The study is a perfect mix of qualitative and quantitative Market data collected and validated majorly through primary data and secondary sources.
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Major factors driving the growth of the market include the surge in technology penetration in healthcare, safe and strong military personnel, advent of artificial intelligence in wearable devices, and growing popularity of wearable augmentation products.
Wearable human augmentation market for enterprise & industrial applications in North America to grow at highest CAGR during forecast period.
The North American market is set to witness growth in industrial wearable devices due to numerous advantages. These include portability, convenience, and efficiency. These devices will witness an increasing demand in North America as they help improve workplace productivity, safety, and efficiency in sectors such as manufacturing, logistics, and mining. Enterprise wearables can also allow an experienced or expert employee to mentor employees who are in the field. This kind of remote collaboration between in-house experts and field workers is growing the importance of the wearables in the North American region. With the increase in accidents related to work, there is growing need for a safe and healthy work environment. Wearables such as (smart glasses and gloves, head mounted displays, cameras, audio devices, sensors embedded into clothes) are helping to transform the industrial sector by reducing error rate, improving efficiency and safety of workers.
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Virtual reality human augmentation market in aerospace & defense for gesture-tracking devices to grow at the highest CAGR during forecast period
Virtual reality eye tracking and gesture-controlled technologies are used to control the In-Flight Entertainment and Connectivity (IFEC) system without the use of remote controls that are highly utilized in the aerospace and defense field. The combination of eye tracking and hand gesture technologies enables passengers to engage with their in-flight entertainment in a natural way, thereby increasing its importance in the application area.
APAC to witness highest CAGR in human augmentation market during forecast period
Japan has a strong base of technologically advanced manufacturing industries that presents a significant opportunity for the market technology market in the country. Also, massive mobile user base and high population growth rate in the country are driving growth for the market in APAC. In India, growing usage of smart devices, availability of cheap labor, and increase in disposable income, as well as rebounding economy, are the key driving factors for the growth of the human augmentation market.
Key Market Players
Key players operating in the 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).
Google Inc. is determined to tap the augmented reality (AR) headset space, which is currently in nascent stage. For example, in May 2019, the Glass Enterprise Edition 2 was launched to target enterprise & industrial applications. The Glass Enterprise Edition 2 has a powerful processor and a new artificial-intelligence engine, as well as offers fast charging and long battery life. The use of Qualcomm’s Snapdragon X1 chip within the same will provide more power and use its multi-core capabilities to power things like a new AI engine. These smart glasses are easier and faster to deploy as they are built upon Android, and therefore can be used for Android-friendly APIs as well as Android Enterprise Mobile Device Management.
Casio is among the leading multinational consumer electronics companies offering calculators, musical instruments such as an electronic keyboard, and electronic dictionary. The company earns nearly 85% of its revenue from the consumer business domain, which includes functional watches such as outdoor wristwatches and smartwatches. Casio realizes the potential for smartwatches in the wearable technology market; therefore, it is focused on developing and offering new products to its consumers frequently.
Scope of the Report
This research report categorizes the human augmentation market based on technology, functionality and region.
- Virtual Reality
- Augmented Reality
- Intelligent Virtual Assistants
- Body Worn
- Non-body Worn
- North America
- Asia Pacific
- Rest of the World (RoW)
- In July 2019, Vuzix doubled the number of compatible Vuzix Blade Smart Glasses applications. The Vuzix Blade Smart Glasses supports a series of streaming and video platforms, including Netflix, Amazon Prime Video, NBA, Roku, Spectrum TV, VLC, and Ted Talks; News and weather platforms including AccuWeather, NY Times, Washington Post and Vuzix News; Web browsers such as Mozilla Firefox and Dolphin and Social media platforms including Facebook Lite, WeChat, TikTok and Tumblr.
- In January 2019, Magic Leap launched a new update, Lumin OS 0.97, sixth software update that supports internationalization and localization for the UK, France, and Germany—including support for French, German, and British English to enable European to experience the device in their native languages.
- In April 2019, Casio G-SHOCK launched GBA800EL-4A, developed in collaboration with Everlast (US), a brand of boxing, featuring a three-axis acceleration sensor to keep track of step count, as well as walking/running pace.
- In March 2019, Magic Leap launched Spatiate on Magic Leap One. Spatiate combines the multi-user experience with artistic expression.
- In February 2019, Samsung launched 3 wearables for balanced and connected living, which includes Galaxy Watch Active, Galaxy Fit, and Galaxy Buds.
- In February 2019, Vuzix launched enterprise smart glasses, M400, one of the first products made commercially available using the Qualcomm Snapdragon XR1 platform. The new system will run the latest version of Android and offer USB-C connectivity. These use the newly unveiled Qualcomm Snapdragon XR1 platform.
This Human Augmentation Market analysis report is a cautious investigation of current scenario of the market and future estimations which considers several market dynamics. Market research report acceptance is very essential for the business growth as it helps with the better decision making, enhancing revenue generation, prioritizing market goals & results in profitable business. It makes easy for the industry to visualize what is already available in the market, what market anticipates, the competitive environment, & what should be done to surpass the competitor. The Human Augmentation Market report not only aids to save valuable time but also adds credibility to the work that has been done to grow the business.
Why You Should Buy The Global Human Augmentation Market Report?
The Human Augmentation market report provides a meticulous picture of the sector by summary of data, production, and method of study originated from various sources. Competitive analysis comprises identifying the key mutual trends and major players of the market. Besides, report also includes an assessment of different factors essential for the existing market players and new market players coupled with methodical study of value chain.
Key Topics Covered:
2 Human Augmentation Market Segmentation
3 Market Overview
4 Executive Summary
5 Premium Insights
6 Human Augmentation Market, By Type
7 Human Augmentation Market, By End-User
8 Human Augmentation Market, By Geography
9 Human Augmentation Market, Company Landscape
10 Swot Analysis
11 Company Profiles
14 Related Reports
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