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Human Augmentation Global Market Report 2024 - By Growth, Size, Demand, Report, Forecast To 2033
Human Augmentation Market
The Business Research Company presents an extensive market research report on the Human Augmentation Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The human augmentation market size has grown exponentially in recent years. It will grow from $186.88 billion in 2023 to $230.56 billion in 2024 at a compound annual growth rate (CAGR) of 23.4%. The growth in the historic period can be attributed to rising adoption of human augmentation, growing research and development, high cost of capital expenditure, increasing demand for human augmentation.
The human augmentation market size is expected to see exponential growth in the next few years. It will grow to $488.89 billion in 2028 at a compound annual growth rate (CAGR) of 20.7%. The growth in the forecast period can be attributed to rising adoption of medical, defense, industrial, increasing demand for wearable devices and virtual reality technology, growing interest in augmented reality and exoskeleton technology, expanding opportunities within the human augmentation industry. Major trends in the forecast period include increasing adoption of wearable devices and virtual reality technology, advancements in ai-powered wearable devices, technological advancements in human augmentation devices.
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Key Market Players:
Major companies operating in the human augmentation market report are Alphabet Inc., Toyota Motor Corporation, Samsung Electronics Co. Ltd., Microsoft Corporation, General Motors Company, Huawei Technologies Co. Ltd., Sony Corporation, Raytheon Technologies Corporation , Panasonic Holdings Corporation, NVIDIA Corporation, Parker Hannifin Corporation, Garmin International Inc., Facebook Reality Labs (FRL), Fossil Group Inc., Magic Leap Inc., Hocoma AG , Wandercraft SAS, Touch Bionics Inc., Cyberdyne Inc., Vuzix, Ekso Bionics Holdings Inc., ReWalk Robotics Inc., Atheer Inc., BrainGate Company, Bionik Laboratories Corporation, Rex Bionics Ltd., B-Temia Inc., Life Sense (Pty) Ltd., Wearable Robotics SRL, Ekso Bionics Holdings Inc.
Market Drivers:
The increasing adoption of smart wearable devices is expected to propel the growth of the human augmentation market. Smart wearable devices refer to electronic devices that are worn as accessories or embedded into clothing and accessories, typically equipped with sensors, connectivity features, and advanced computing capabilities. Human augmentation is used in smart wearable devices to provide individuals with new ways to monitor, enhance, and interact with physical and cognitive functions. For instance, in February 2023, according to a survey of 8,014 respondents by Digital Health Consumer Adoption Survey by Rock Health Inc., a US-based digital health solutions company, In 2022, 46% of respondents owned a wearable smart device, up 4 percent from 2020 (43%), and 45% in 2021. Therefore, the increasing adoption of smart wearable devices is expected to propel the growth of the human augmentation market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/human-augmentation-global-market-report
The human augmentation market covered in this report is segmented -
1) By Product Type: Wearable Devices, Augmented Reality Devices, Virtual Reality Devices, Exoskeletons, Biometric Systems, Intelligent Virtual Assistants
2) By Technology: AI Integration, Quantum Computing Augmentation, Biohacking and Bio-Augmentation
3) By End-User: Consumer, Commercial, Medical, Aerospace and Defense, Industrial, Other End-users
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