Global Human Augmentation Market to Reach $17 Billion by 2026

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Jun 30, 2021, 09:20 ET

SAN FRANCISCO, June 30, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Human Augmentation - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 8; Released: January 2021
Executive Engagements: 11811
Companies: 46 - Players covered include Atheer, Inc; Atoun; B-Temia Inc; Ekso Bionics Holdings, Inc; Fossil Group, Inc; Garmin Ltd; Google Inc.; Goqii; Jawbone, Inc.; Life Sense Group B.V; Magic Leap, Inc.; Mobvoi; P&S Mechanics Co., Ltd.; Polar Electro Oy; ReWalk Robotics, Inc.; Rex Bionics Ltd.; Samsung Electronics Co. Ltd.; Vuzix Corporation and Others.
Coverage: All major geographies and key segments
Segments: Functionality (Wearable, In-Built); Application (Medical, Industrial, Defense, Other Applications)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Rest of Europe; Asia-Pacific; Rest of World.

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ABSTRACT-

Global Human Augmentation Market to Reach $17 Billion by 2026
Human Augmentation is defined as the technology designed to increase human productivity and improve the capabilities of the human body or mind. The technology aims at enhancing the cognitive and physical capabilities to improve human experience. Human augmentation comprises prosthetic engineering to compensate or rebuild the original function of limbs which has been lost due to accidents and other causes. It can also include technologies designed to further improve the inherent human abilities. The concept of human augmentation has long been compelling the scientific and medical communities to use sophisticated technology for augmenting bodies, including exploitation of human genes for curing conditions such as blindness or fighting viruses. In the recent years, the scope of human augmentation has extended beyond medical R&D to new technologies, smart devices, artificial intelligence, and the Internet of Things. The human augmentation pipeline covers various technologies including prosthetics, bionics, neurotechnology, nootropics, brain-computer interfaces and gene editing. Some of the body modification technologies that are poised to garner attention are exoskeletons, RFID chips, augmented vision, real-time language translation, smart contact lenses, 3D-printed body parts, smart drugs, brain-computer interfaces, enhanced sexual organs and designer babies.

Amid the COVID-19 crisis, the global market for Human Augmentation estimated at US$4.3 Billion in the year 2020, is projected to reach a revised size of US$17 Billion by 2026, growing at a CAGR of 26.8% over the analysis period. Wearable, one of the segments analyzed in the report, is projected to grow at a 27.1% CAGR to reach US$19.6 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the In-Built segment is readjusted to a revised 25% CAGR for the next 7-year period. This segment currently accounts for a 14% share of the global Human Augmentation market. Powered by artificial intelligence (AI), next-generation wearable devices are expected to support augmented human interactions and intelligence in a more intuitive and less intrusive manner. The technology is anticipated to fast-track the paradigm shift towards augmented intelligence. Sophisticated wearable devices supported by IoT allow high-end applications for physical augmentation, mental assistance and advanced sensing.

The U.S. Market is Estimated at $2 Billion in 2021, While China is Forecast to Reach $2.6 Billion by 2026
The Human Augmentation market in the U.S. is estimated at US$2 Billion in the year 2021. The country currently accounts for a 39.31% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$2.6 Billion in the year 2026 trailing a CAGR of 30.1% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 23% and 24.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 26% CAGR while Rest of European market (as defined in the study) will reach US$3.6 Billion by the end of the analysis period. More

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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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