DUBLIN--(BUSINESS WIRE)--The "Human Augmentation Market Share, Size, Trends By Product Type, By Functionality, By Application, By Region, Segment Forecast, 2022 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global human augmentation market is expected to reach USD 725.25 billion by 2030
Increasing adoption of wearable augmentation products and increased understanding of the therapeutic benefits of medical wearable products are major factors driving growth. For instance, in March 2021, Astrek Innovations, a healthcare business specializing in rehabilitation and assistive robots, announced that user trials had begun in the second quarter of 2021.
The Unik Exosuit range from Astrek is a motorized wearable robot that could help people with lower-limb difficulties complete exercises and gait mentoring. The product includes a cutting-edge gesture recognition system that transmits data about the user to a physician or caregiver.
Also, in March 2021, Ekso Bionics Holdings, Inc. announced an agreement with the United States Physiatry (USP) to teach physicians the therapeutic significance of the EksoNR exoskeleton. USP is one of the largest inpatient physicians ' practices in the United States devoted solely to medical discipline.
The collaboration will increase physicians' and other rehabilitation practitioners' consciousness of Ekso Bionics' technology and provide training on integrating robots into a rehabilitation program. As a result, the introduction of exoskeleton technology for medical, defense, and industrial applications is propelling industry growth throughout the forecast period.
Furthermore, the increased use of exoskeletons in the defense industry contributes to market expansion. Exoskeletons can help soldiers carry heavy weapons while moving faster and covering a larger area on the battlefield; as a result, many governments are considering using exoskeletons in defense applications to improve national security. Exoskeletons for military applications are being improved by using cutting-edge technologies, which are expected to drive industry growth in the coming years.
Additionally, the growing use of robots has aided in the development of medical technology and research, which has spurred the growth of the industry. The increasing use of human augmentation techniques in developing end-use industries including information technology, healthcare, production, and the military, is another driver boosting the market's growth. To maximize the core advantages of this technology, a rising number of countries are employing artificial intelligence-enabled apps to offer more approachable technology.
The industry is highly competitive owing to the presence of large industry players with a global existence including Atheer, Inc., Fossil Group Inc., Goqii Incorporation, Garmin Incorporation, Google Inc., Jawbone Corporation, Life Sense Group B.V, Mobvoi, Polar Electro, Samsung Electronics Co. Ltd., and Vuzix Corporation.
Human Augmentation Market Report Highlights
- Non-Body Worn segment is anticipated to grow at a significant CAGR rate over the forecast period. It is anticipated that the industry for non-body-worn goods would expand as a result of the rising demand for immersive content for AR and VR devices used in gaming and entertainment applications.
- The defense sector accounted for a significant share of the global market due to its numerous applications and discounted prosthetic and exoskeleton devices. Demand is continuing to rise as a result of technological advancements that enhance prosthetic capabilities and enable natural movement. R&D in the defense sector thereby fuels demand for human enhancement.
- Asia-Pacific is expected to grow at a lucrative CAGR rate over the projected period. In several emerging nations in this region, including India, the industry for human augmentation is expanding at an accelerated rate due to the soaring demand for smart devices, rising disposable income, and the easy accessibility of cheap labor.
Key Topics Covered:
1. Introduction
1.1. Report Description
1.2. Stakeholders
2. Executive Summary
2.1. Market Highlights
3. Research Methodology
3.1. Overview
3.1.1. Data Mining
3.2. Data Sources
3.2.1. Primary Sources
3.2.2. Secondary Sources
4. Global Human Augmentation Market Insights
4.1. Human Augmentation - Industry Snapshot
4.2. Human Augmentation Market Dynamics
4.2.1. Drivers and Opportunities
4.2.1.1. High demand for wearable augmentation devices in the healthcare sector
4.2.1.2. Rapid technological advancements
4.2.2. Restraints and Challenges
4.2.2.1. High cost of human augmentation devices
4.3. Porter's Five Forces Analysis
4.4. PESTEL Analysis
4.5. Human Augmentation Market Industry Trends
4.6. Value Chain Analysis
4.7. COVID-19 Impact Analysis
5. Global Human Augmentation Market, by Product Type
5.1. Key Findings
5.2. Introduction
5.2.1. Global Human Augmentation Market, by Product Type, 2018 - 2030 (USD Billion)
5.3. Wearable Devices
5.4. Virtual Reality Devices
5.5. Augmented Reality Devices
5.6. Exoskeletons
5.7. Intelligent Virtual Assistants
5.8. Others
6. Global Human Augmentation Market, by Functionality
6.1. Key Findings
6.2. Introduction
6.2.1. Global Human Augmentation Market, by Functionality, 2018 - 2030 (USD Billion)
6.3. Body-worn
6.4. Non-body-worn
7. Global Human Augmentation Market, by Application
7.1. Key Findings
7.2. Introduction
7.2.1. Global Human Augmentation Market, by Application, 2018 - 2030 (USD Billion)
7.3. Consumer
7.4. Commercial
7.5. Medical
7.6. Aerospace & Defense
7.7. Industrial
7.8. Others
8. Global Human Augmentation Market, by Geography
8.1. Key findings
8.2. Introduction
8.2.1. Human Augmentation Market Assessment, By Geography, 2018 - 2030 (USD Billion)
9. Competitive Landscape
9.1. Expansion and Acquisition Analysis
9.1.1. Expansion
9.1.2. Acquisitions
9.2. Partnerships/Collaborations/Agreements/Exhibitions
10. Company Profiles
10.1. Company Overview
10.2. Financial Performance
10.3. Product Benchmarking
10.4. Recent Development
- Atheer Inc.
- Atoun
- B-Temia Inc
- Casio Inc.
- Ekso Bionics Holdings Inc.
- Fossil Group Inc.
- Goqii Incorporation
- Guangdong BBK Electronics Co. Ltd
- Garmin Incorporation
- Google Inc.
- Jawbone Corporation
- Life Sense Group B.V
- Magic Leap Inc.
- Mobvoi
- Polar Electro
- P&S Mechanics.
- Rewalk Robotics Inc.
- Samsung Electronics Co. Ltd.
- Vuzix Corporation
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