Human Augmentation Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Product (Eye-Wear, Neck-Wear, Wrist-Wear, Foot-Wear, Body-Wear, Others), By End-Users (Healthcare, Manufacturing, Aerospace And Defense, Others), And By Geography - Forecasts From 2021 To 2026

Published:  Jul 2021 Report Code: KSI061610261 Pages: 114

The human augmentation market is projected to grow at a CAGR of 36.08% to reach US$8.708 billion by 2026 from US$1.008 billion in 2019.

Human augmentation essentially focuses on creating analytic and physical improvements. It's a technology-driven process that aims to increase human productivity and capability. If done in the right manner, augmentation has the potential to improve one's overall quality of life. Human augmentation is characterized into three types:

  • Replicating human ability: it restores the human ability. For instance, a hearing aid for the deaf.
  • Supplementing human ability: it improves our ability to perform the work. For instance, artificial methods used to increase strength.
  • Exceeding human ability: it helps us do things that can't be done alone. For instance, the ability to fly.

Some of the types of human augmentation are EksoWorks, Teslasuit, Skylight, SolarEar, etc.

human augmentation market

A major reason for the growth of this market is the improvement in the health care system.

According to the OECD report, the life expectancy across the low-income Asia Pacific region has reached 70 years in 2016. On the other hand, high-income Asia Pacific countries have gained on an average of 3.6 years. The region is constantly undertaking efforts to integrate primary care and hospital care. The efforts of integrated care have been widely used and accepted in North American and European countries. There is rapid progress taking place across the globe in order to improve the coordination among the various health care settings and stakeholders. The health care infrastructure is improving continuously across the growth. Many countries are increasingly spending on medical research. The United States remains the leading country in this section. With the improving health indices and better health care infrastructure, the human augmentation market is expected to witness growth.

In terms of geography, North America is expected to dominate the market. The region is facing an increasing demand for augmentation products. Moreover, the region is continuously innovating technologically driven medical wearable products. The US represents the largest market of human augmentation in North America. The application of augmentation products and the awareness of medical wearables are rising in Asian countries. This will fuel the market for human augmentation in the Asian region. Japan has a very strong base of technology-driven manufacturing industries. India and China along with Japan are expected to be the fastest-growing countries for human augmentation in the Asian region.

The increase in the number of smartphone users and the rise in population is expected to drive the demand for this market in the forecast period.

The number of smartphone users across the globe is increasing rapidly. North America constitutes the highest penetration of smartphones. The growth in smartphone users is also witnessed in the Asia Pacific countries. These countries are investing heavily in network infrastructure and the adoption of broadband. The population today, stands at 7.9 billion. The dramatic population growth is mainly driven by the increasing number of people surviving to the reproductive age, drastic changes in the fertility rates, better health care facilities available. Asia constitutes three-fifth of the world's population alone. The continent consists of the two most populated countries- China and India, which together constitute two-fifth of the world's population. Both Asia and Europe are expected to witness a further increase in population. The lifestyle of people across the globe is witnessing a constant revolution. People are turning towards the more technologically advanced method. Moreover, people around the world are growing more health-conscious and spending a major proportion of their income on health. All these factors are responsible for driving the growth in the human augmentation market.

The impact of the COVID-19 pandemic.

The COVID-19 pandemic has completely transformed the landscape of the human augmentation market. Although the market is expected to witness an upsurge due to various factors like the decreasing cost of augmentation solutions, technological innovation enhancing prosthetics, and the use of exoskeleton, the recent outbreak of COVID-19 is expected to change the market dynamics. There is a disruption in the supply chain of smartwatches, fitness trackers, and wearables. Also, the pandemic has severely affected income and consumer spending. The decline in consumer spending is expected to slump the growth of the human augmentation market.

The rising competition is also projected to positively impact the sales of human augmentation products.

The major players of the market include B-temia, Ekaso Bionics, Magic Leap Inc., Second Sight, etc.

They are continuously implementing growth strategies and working towards technological innovation. This in turn is increasing the competition and is expected to fuel the growth of the human augmentation market.

Human Augmentation Market Scope:

Report Metric Details
 Market size value in 2019  US$1.008 billion
 Market size value in 2026  US$8.708 billion
 Growth Rate  CAGR of 36.08% from 2019 to 2026
 Base year  2019
 Forecast period  2021–2026
 Forecast Unit (Value)  USD Billion
 Segments covered  Product, End-Users, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered  B-temia, Ekaso Bionics, Magic Leap Inc., RReWalk Robotics, Second Sight, Vuzix   Corporations, Samsung Electronics, Raytheon Technologies Corporation, Google Inc.,   BraiGate Inc.
 Customization scope  Free report customization with purchase

 

Segmentation:

  • By Product
    • Eye-wear
    • Neck-wear
    • Wrist-wear
    • Foot-wear
    • Body-wear
    • Others
  • By End-Users
    • Healthcare
    • Manufacturing
    • Aerospace and Defense
    • Others
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • UK
      • Germany
      • France
      • Spain
      • Others
    • The Middle East and Africa
      • Saudi Arabia
      • UAE
      • Israel
      • Others
    • Asia Pacific
      • Japan
      • China
      • India
      • South Korea
      • Indonesia
      • Thailand
      • Taiwan
      • Others

Frequently Asked Questions (FAQs)

Q1. What is the size of global human augmentation market?
A1. Human Augmentation Market was valued at US$1.008 billion in 2019.


Q2. What will be the human augmentation market size by 2026?
A2. The human augmentation market is projected to reach a total market size of US$8.708 billion by 2026.


Q3. What are the growth prospects for the human augmentation market?
A3. The global human augmentation market is projected to grow at a CAGR of 36.08% during the forecast period.


Q4. What factors are anticipated to drive the human augmentation market growth?
A4. A major reason for the growth of the human augmentation market is the improvement in the health care system.


Q5. Which region holds the maximum market share of the human augmentation market?
A5. North America is expected to dominate the human augmentation market owing to the increasing demand for augmentation products.

1. Introduction
1.1. Market Definition
1.2. Market Segmentation

2. Research Methodology
2.1. Research Data
2.2. Assumptions

3. Executive Summary
3.1. Research Highlights

4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Powers of Buyers
4.3.3. Threat of Substitutes
4.3.4. The threat of New Entrants
4.3.5. Competitive Rivalry in Industry
4.4. Industry Value Chain Analysis

5. Human Augmentation Market, by Product
5.1. Introduction
5.2. Eye-wear
5.3. Neck-wear
5.4. Wrist-wear
5.5. Foot-wear
5.6. Body-wear
5.7. Others 

6. Human Augmentation Market, by End-Users
6.1. Introduction
6.2. Healthcare
6.3. Manufacturing
6.4. Aerospace and Defense
6.5. Others 

7. Human Augmentation Market, by Geography
7.1. Introduction
7.2. North America
7.2.1. United States
7.2.2. Canada
7.2.3. Mexico
7.3. South America
7.3.1. Brazil
7.3.2. Argentina
7.3.3. Others
7.4. Europe
7.4.1. Germany
7.4.2. France
7.4.3. United Kingdom 
7.4.4. Spain 
7.4.5. Others
7.5. The Middle East and Africa
7.5.1. Saudi Arabia
7.5.2. UAE
7.5.3. Israel
7.5.4. Others
7.6. Asia Pacific
7.6.1. China
7.6.2. India
7.6.3. South Korea
7.6.4. Taiwan
7.6.5. Thailand
7.6.6. Indonesia 
7.6.7. Japan
7.6.8. Others

8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrative
8.3. Mergers, Acquisition, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix

9. Company Profiles
9.1. B-temia
9.2. Ekaso Bionics
9.3. Magic Leap Inc.
9.4. ReWalk Robotics
9.5. Second Sight
9.6. Vuzix Corporations
9.7.  Samsung Electronics
9.8. Raytheon Technologies Corporation
9.9. Google Inc.
9.10. BrainGate Inc.

B-temia

Ekaso Bionics

Magic Leap Inc.

RReWalk Robotics

Second Sight

Vuzix Corporations

Samsung Electronics

Raytheon Technologies Corporation

Google Inc.

BraiGate Inc.

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