The global human augmentation market is projected to grow at a modest CAGR of 20.1% during the forecast period. Growing demand for wearable human augmentation devices in the healthcare sector, the recent introduction of AI-powered wearable devices, and rapid technological advancements such as the availability of fast processing chipsets, miniaturization of sensors, use of brain-computer interfaces, and nanotechnology evolution are some of the major factors driving the market growth. Industry use of human augmentation technology such as exoskeletons, AR, and VR gadgets has increased as the necessity for high productivity and an increased emphasis on worker safety has grown. Exoskeletons are employed in a variety of industries, including shipbuilding, heavy machinery, and construction, since they may be modified for lifting huge objects, ensuring worker safety, and increasing production and worker efficiency. Similarly, technicians are increasingly using AR gadgets to boost productivity in their workplaces. Workers can utilize head-up displays and smart helmets to interpret designs and instructions since they provide real-time data.
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The COVID-19 pandemic has caused global health disasters and multiple deaths. Lockdowns were implemented in various places, causing supply chain disruptions. The advent of the pandemic had a significant impact on key human augmentation product producers during the first two quarters of 2020. Due to the imposition of lockdowns in several places, an imbalance in demand and supply was seen, resulting in enterprises not operating at full capacity. Exoskeletons, AR and VR technologies such as head-mounted displays, projectors & display walls, and gesture-tracking gadgets have all been affected by the pandemic’s supply chain interruptions. For the first three quarters of 2020, the market saw a decrease in shipments. However, due to rising demand from developing applications, particularly in the healthcare, aerospace & defense, and industrial sectors, the market is likely to pick up steam in the fourth quarter of 2020.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Market Segmentation
Global Human Augmentation Market by Product Type
- Wearable Devices
- Virtual Reality Devices
- Augmented Reality Devices
- Exoskeletons
- Intelligent Virtual Assistants
Global Human Augmentation Market by Application
- Consumer
- Commercial
- Medical
- Aerospace & Defense
- Industrial
- Others
Regional Analysis
- North America
- US
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- B-Temia Inc.
- Casio
- CYBERDYNE INC.
- Ekso Bionics
- Fossil Group, Inc.
- Garmin Ltd.
- Google LLC
- Magic Leap
- ReWalk Robotics
- Samsung Electronics Co., Ltd.
- Vuzix Corp.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global human augmentation market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where in the market.
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