Pune,India, Sept. 07, 2023 (GLOBE NEWSWIRE) -- According to Fortune Business Insights Global Human Augmentation Market size was valued at USD 143.05 billion in 2022 and is projected to reach USD 645.93 billion by 2030, exhibiting a CAGR of 21.1% during the forecast period. Fortune Business Insights™ shares this information in its report titled Human Augmentation Market Forecast, 2023-2030.
Human augmentation, also referred to as Human 2.0, encompasses advanced technologies employed to enhance and elevate human capabilities, encompassing areas such as health, performance, and quality of life. The market's growth is primarily fueled by the increasing adoption of AR/VR devices and a growing user base for exoskeleton technologies within the human augmentation sector.
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Key Industry Development
March 2023: NVIDIA launched four inference platforms for large language models, enabling rapid development of AI-powered specialized applications.
Key Takeaways-
- Human Augmentation Market is expected to flourish & reach USD 645.93 Billion in 2030
- The development of technologies like Virtual Reality and Augmented Reality has continued throughout the past ten years.
- Many sensitive personal data points are needed for advanced technology, which raises safety and security issues.
- Human Augmentation Market Size in North America was USD 62.57 Billion 2022
Discover the Leading Players Featured in the Report-
“Companies leading the Digital Signature Market are Google LLC (Alphabet, Inc.) (U.S.), Magic Leap, Inc. (U.S.), ReWalk Robotics (U.S.), SAMSUNG (South Korea), B-Temia (Canada), Panasonic Holdings Corporation (Japan), NVIDIA Corporation (U.S.), Microsoft (U.S), Ekso Bionics (U.S.), Vuzix (U.S.)”
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 21.1% |
| 2030 Value Projection | USD 645.93 Billion |
| Base Year | 2022 |
| Human Augmentation Market Size in 2022 | USD 143.05 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 120 |
| Segments covered | Technology, Device, Application, Regional |
Browse Complete Report Details: https://www.fortunebusinessinsights.com/human-augmentation-market-107046
Drivers and Restraints-
Advancing Smart Wearables with Sensors, Semiconductors, and AI Propel Market Evolution
The rapid evolution of smart wearable devices is being propelled by advancements in sensors, semiconductors, and AI, both currently and in the foreseeable future. PwC's report highlights that smart wearable technologies offer benefits such as enhanced nutrition, improved access to medical data, exercise monitoring, increased patient engagement in clinical decisions, and more precise disease diagnosis. The growing demand and continuous evolution of smart wearables are expected to drive market expansion.
However, the human augmentation market growth may be stifled by concerns over data security and the requirement for high capital expenditure.
Segments
By Technology
- Wearable
- Virtual Reality
- Augmented Reality
- Exoskeleton
- Intelligent Virtual Assistant
By Device
- Body Worn
- Non-Body Worn
By Application
- Medical
- Aerospace & Defense
- Sports & Utility
- Media & Entertainment
- Education
- Others (Construction, Energy & Power)
Regional Insights-
North America’s Prominence Led by Technological Prowess and R&D Investments
With 43.7% of the global market share, North America emerges as the most promising region, underpinned by its technological advancement, early technology adoption, and substantial investments in research and development.
The Europe market is anticipated to surge due to robot-driven medical innovation in countries, such as the U.K., Germany, France, thereby boosting human augmentation technology adoption.
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Competitive Landscape-
Strategic Collaborations and Technological Integration Shape Market Dynamics
Prominent participants in the market are actively pursuing mergers and partnerships to conceptualize and provide cutting-edge solutions that align with customer demands. Additionally, a subset of these players are directing their efforts toward seamlessly integrating advanced technologies, resulting in adaptable solutions and distinctive features. Furthermore, governmental initiatives play a pivotal role in enabling SMEs to bolster their online business presence, thus contributing to the expansion of the market.
FAQ’s
How big is the Human Augmentation Market?
Human Augmentation Market size was USD 143.05 billion in 2022.
How fast is the Human Augmentation Market growing?
The Human Augmentation Market will exhibit a CAGR of 21.1% during the forecast period, 2023-2030
Related Reports-
Wearable Technology Market Size, Key Technology And Industry Trends Till 2029
Intelligent Virtual Assistant Market Size, Industry Share and Total Revenue Growth Rate Till 2029
Artificial Intelligence Market Size, Share And Major Industry Players Forecast (2022-2029)
Exoskeleton Systems Market Size, Share And Development By 2029
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