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Human Augmentation Market Trends

Report ID: GMI8590
Published Date: Mar 2024
Report Format: PDF

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Human Augmentation Market Trends

There is a growing focus on integration with healthcare, as advancements in prosthetics, exoskeletons, and brain-computer interfaces improve rehabilitation outcomes and mobility for people with disabilities. The market is seeing increased product adoption in industries, such as manufacturing and logistics, where wearable robotics and exosuits boost workers' strength and endurance, increasing productivity and lowering workplace injuries. Consumer demand for AR and Virtual Reality (VR) experiences is boosting innovations in sensory augmentation, with applications ranging from gaming & entertainment to training & education.

For instance, in May 2023, Vuzix Corporation, an AR and smart glasses technology devices provider, partnered with TeamOpenSmartGlasses to develop ChatGPT Al applications on its smart glasses. They are developing a suite of conversation enhancement tools built for all-day wearable smart glasses. These apps improve meetings and conversations with live info that enhances user understanding of conversations for executives, technologists, and academics.

There is a rising emphasis on ethical considerations including privacy, consent, and equity, as human augmentation technologies become more prevalent. Technological developments in fields including biotechnology, materials science, and Artificial Intelligence (AI) continue to push the limits of what is feasible, encouraging constant innovations and market expansion.

Authors: Suraj Gujar, Sandeep Ugale

Frequently Asked Questions (FAQ) :

The market size of human augmentation reached USD 12 billion in 2023 and is set to witness 6% CAGR between 2024 and 2032, led by the growing adoption of wearable devices.

Consumers segment accounted for a market share of over 30% in 2023, as consumers benefit from human augmentation through a variety of applications that improve their everyday lives.

Asia Pacific market held a revenue share of over 35% in 2023, owing to technological advancements and growing healthcare infrastructure in the region.

B-Temia Inc., Cyberdyne Inc., Ekso Bionics Holdings, Inc., Facebook Reality Labs (Meta Platforms, Inc.), Google LLC (Alphabet Inc.), Hocoma AG (DIH Technologies), Huawei Technologies Co., Ltd., Microsoft Corporation, ReWalk Robotics Ltd., Rex Bionics Ltd., Samsung Electronics Co., Ltd., Sony Corporation, Touch Bionics Inc. (Össur) are some of the major industry contenders.