Human Augmentation Market Expected to Grow At a CAGR of 21.8% between 2020-2028
2021 - 2028 Global Human Augmentation Market
The Global Human Augmentation Market is accounted for $86.36 billion in 2020 and is expected to reach $418.28 billion by 2028 growing at a CAGR of 21.8% during the forecast period. Some of the key factors propelling the market growth include rising popularity of wearable augmentation products, surge in technology penetration in healthcare, and growing use of exoskeletons in military applications and advanced modification in the human body. However, lack of security as well as shortage of skilled professional may hamper the market growth. The virtual reality segment is anticipated to grow at a significant rate during the forecast period, due to growing use in applications such as education and e-retailing sectors owing to the provision of easy learning and promotions and advertising, respectively and the use of virtual reality will eliminate physical computers and create an exponentially increasing base of remote workers as well as reduce operating costs. Asia Pacific is projected to have considerable market growth during the forecast period, owing to rising investment in research & development, growing innovative applications of augmentation products, increasing demographics and economies in developing countries such as India and China, and rising awareness about the benefits of medical wearable augmentation devices among the consumers.
Some of the key players in Human Augmentation Market include General Motors, Panasonic Corporation, Samsung Electronics Co. Ltd., Garmin, Vuzix Corporation, B-Temia Inc., Toyota Motor Corporation, Google Inc., Life Sense Group B.V, Raytheon Company, Fossil Group Inc., Magic Leap Inc., Ekso Bionics Holdings Inc., Casio, BrainGate Company, Parker Hannifin Corp, Rewalk Robotics Inc., and Atheer, Inc.
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