HOUSTON, May 08, 2023 (GLOBE NEWSWIRE) -- In its latest report, Data Bridge Market Research dissects growth strategies, drivers, opportunities, key segments, Porter's Five Forces analysis, and the competitive environment in "Human Augmentation Market" providing valuable insights for businesses operating in the industry. The steadfast Human Augmentation market analysis report is a believable source for gaining the market research that will exponentially accelerate business growth. This industry research report is designed to provide granular quantitative information, combined with key industry insights, aimed at assisting sustainable organizational development. It analyses the demand for products by component. The recently organized research of this report suggests that the global market is widely responsible to provide significant information on the market status and desirable businesses with respect to each manufacturer.
Executives in marketing, strategic planning, and new product development will find discussions in the credible Human Augmentation report pertinent and useful. Several secondary sources such as encyclopedias, directories, and databases have been used to identify and collect information useful for this extensive techno-commercial study. The report presents a comprehensive overview, market shares, and growth opportunities of the Human Augmentation market by type, application, key manufacturers, and key regions and countries. In addition to this, the information also includes the breakdown of the revenue for the global market claiming a forecast for the same in the estimated period.
Data Bridge Market Research analyses that the human augmentation market is expected to reach USD 1,404.43 billion by 2030, which is USD 210.16 billion in 2022, registering a CAGR of 26.80% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Human augmentations generally focus on creating physical and cognitive improvements to increase human capability and productivity with improved health and quality of life. The implants or devices plays important role in human productivity such as orthotics and limb devices having augmentation enhance the motion and improves muscle capability.
The human augmentation market will see significant growth during the forecast period. This is attributed to the advent of the AI-powered wearable devices and advancements in technology such as the availability of the fast-processing chipsets and sensors being miniaturized. Moreover, Wearable devices are anticipated to account for the largest share of the human augmentation market during the forecast period owing to increasing usage of wearable devices to monitor fitness and health parameters.
Opportunities
- Growing research and development activities
Major companies have researched and develop better augmentation technologies, procedures, systems and devices due to the increasing demand for human augmentation. In the medical field, for instance, near-infrared spectroscopy in mapping and brain imaging offer improved diagnoses which is gaining huge popularity because it is a cost-effective, sophisticated and durable technology as compared to conventional methods. Other developments in human augmentation will make the business more efficient and competitive, creating immense opportunities for the expansion and profitable of the market. Technological advancements also surge the scope of application of human augmentation in the biotechnology, defense, aerospace, and industrial sectors.
- Surging product launches in human augmentation market
Surging product launches and other innovations by major market players further offer numerous growth opportunities in the market. For instance, Samsung Electronics Co., Ltd. (South Korea) has introduced the Galaxy Watch 4 Classic and Galaxy Watch4 in 2021. These devices comprise the new Samsung BioActive Sensor that enables real-time measurement of many-body composition metrics such as hydration levels and fat percent.
Some of The Major Players Operating In The Human Augmentation Market Are:
- SAMSUNG
- Panasonic Corporation
- PARKER HANNIFIN CORP
- General Motors
- Microsoft
- FOSSIL GROUP
- Raytheon Technologies Corporation
- TOYOTA MOTOR CORPORATION
- Garmin Ltd
- Life Sense Group
- ReWalk Robotics
- Ekso Bionics,
- Atheer, Inc
- B-Temia
Recent Development
- In 2022, Wandercraft, a Paris-based business, raised USD 45 million to increase the commercialization of self-balancing exoskeleton. This achieves self-balancing by using algorithms that keep the machine in appropriate equilibrium while the person moves. The new model, which is used in hospitals, costs around €150k to €200k, and 14 institutions in Europe now own it.
- In 2022, Japanese researchers developed 'sixth finger' robotic for human augmentation. A robotic "sixth finger" that can be worn on the hand next to the pinky has been made by specialists which is concentrating on how brains respond to new and free body parts. Four sensors attached to the lower arm first assess electrical signals from muscles. The signals are then moved to an engine to
- In 2022, DASA launched a new innovation to explore Generation-After-Next human augmentation technologies for use in security and defense. DASA is pleased to launch an innovation Focus Area (IFA) named Human Augmentation (HA). It is looking for an IFA proposal that launches GAN solutions to UK security and defense challenges, where human performance is the limiting factor for offering operational impact.
- In 2021, Aetna announced that it is expanding its cover of gender-affirming processes to include breast augmentation for transgendered people. In November, the insurer Manulife Financial Corp. stated that its transgender workers in Canada and the United States would be qualified for certain operations and treatments, including breast augmentation, under certain conditions.
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The report includes six parts, dealing with:
- Basic information
- The Asia Human Augmentation Market
- The North American Human Augmentation Market
- The Europe Human Augmentation Market
- MEA Human Augmentation Market
- Market entry and investment feasibility
- The report conclusion
All the research report is made by using two techniques that are Primary and secondary research. There are various dynamic features of the business, like client need and feedback from the customers. Before (company name) curate any report, it has studied in-depth all dynamic aspects such as industrial structure, application, classification, and definition.
Investing in this study would grant you access to valuable information, including:
- Comprehensive coverage of the Human Augmentation Market, both globally and broken down by regions.
- Regional-level breakdowns of the market, including North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
- Country-specific market size splits for the most important countries with major market shares.
- Market share and revenue/sales data for the industry's leading players.
- Analysis of market trends such as emerging technologies, products, and start-ups, as well as PESTEL Analysis, SWOT Analysis, Porter's Five Forces, and more.
- Detailed market size data, including breakdowns by application/industry verticals.
- Projections and forecasts for the market's future growth and development.
Key Market Segments Covered in Human Augmentation Industry Research
Type
- In-Built
- Wearable
Product
- Body Worn
- Non-body Worn
Technology
- Wearable
- Augmented Reality
- Exoskeleton
- Intelligent Virtual Assistants
Application
- Medical
- HealthCare
- Defense
- Industrial
Human Augmentation Market Regional Analysis/Insights
The human augmentation market is analyzed and market size insights and trends are provided by country, type, product, technology and application as referenced above.
The countries covered in the human augmentation market report U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
North America dominates the human augmentation market in terms of revenue and market share owing to the availability of innovative technology in this region. Also, the ability to increase workplace effectiveness and productivity will further boost the market growth.
Asia-Pacific will continue to project the highest growth rate during the forecast period of 2023-2030 due to the growing awareness regarding therapeutic applications of the medical wearable augmentation products and increasing innovative applications of augmentation products in this region.
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Restraints/ Challenges
- High price of capital expenditure
In development of human augmentation utilize a lot of money. Human augmentation uses innovative technologies to increase its nevertheless, effectiveness such technologies are expensive and making human augmentation an expensive endeavor. Human augmentation technologies are highly expensive because of their complicated procedures and advanced nature. The high expenses of human augmentation will obstruct the growth of the market.
- Data security concerns
The dearth of data safety and security makes the stored data vulnerable to cyberattacks. Similar instances of cyberattacks and other data theft crimes in human augmentation discourage the consumers from engaging in the human augmentation market, thus hampering its growth during the forecast period.
Global human augmentation market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the human augmentation market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
- Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
- Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Key Industry Drivers:
- Rising development of technologies in human augmentation market
One of the major trend in the human augmentation market is the development of the new and advanced technologies which can be used to increase the functions of the human body without the requirement for any surgery or implants. For instance, the development of the exoskeletons increases the body's endurance and strength and improves the brain's function, such as brain-computer interfaces. Therefore, rising development of technologies in human augmentation market is expected to drive the market growth rate.
- Increasing demand for wearable devices
Increasing awareness regarding the therapeutic applications of wearable devices is expected to drive the growth of the market. There is a development in the usage of the wearable devices for monitoring the fitness and health parameters is one of the biggest contributing factor for the growth of the market. The development of the advanced sensor technology and the miniaturized multifunctional ICs has facilitated the development of the lucrative wearable devices which have all the applications required by consumer. Therefore, increasing demand for wearable devices is expected to drive the market growth rate.
Table of Contents:
- Introduction
- Market Segmentation
- Executive Summary
- Premium Insights
- Global Human Augmentation Market: Regulations
- Market Overview
- Global Human Augmentation Market, By Type
- Global Human Augmentation Market, By Product
- Global Human Augmentation Market, By Technology
- Global Human Augmentation Market, By Application
- Global Human Augmentation Market, By Region
- Global Human Augmentation Market: Company Landscape
- SWOT Analyses
- Company Profile
- Questionnaires
- Related Reports
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