The global human augmentation market will reach USD 1,066.04 billion by 2033, at a CAGR of 20.33% from 2024 to 2033. The increasing application of human augmentation in the healthcare sector is the primary driver for the growth of the human augmentation market. Human augmentation market growth would be driven by the increasing incidence of neurological disorders & neurodegenerative conditions in which human augmentation is used to restore brain functions and reduce stress/pain for the patient. Technological advancements have diversified the scope of application for human augmentation in various sectors, namely, engineering, defense, aerospace, & biotechnology, among others. The rising awareness about the benefits of human augmentation will also contribute to the market's growth during the forecast period.

Market Overview:

Augment, or augmentation, refers to making something greater by adding a component. Human augmentation refers to the enhancement of the cognitive and physical capabilities of the human body. The upgrades or improvements can happen in bionics, prosthetics, nootropics, neurotechnology, & gene editing. The primary purpose of human augmentation is to restore the lost cognitive of physical capabilities of the human body. New technological advancements also enable individuals to improve their mental capabilities as well. Human augmentation is also known as human 2.0 as it integrates itself into the day-to-day life of the human. Human augmentation helps restore the ability that the human body has lost, enhancing an already existing ability or adding a new ability altogether. Human augmentation help reduces stress and headaches associated with acute migraine or other conditions. They also help improve sleep and cognitive functions, which can help treat neurodegenerative diseases that affect the behavior and motor functions of the patients. The non-invasive nature of human augmentation, along with ease of application and portability combined with the increasing at-home care settings, will lead to a wider acceptability of these devices and contribute to the growth of the global human augmentation market. Human augmentation can take the form of smart glasses, hearing aids, cochlear implants, bionic eyes, or orthodontics. Human augmentation enables individuals to achieve bodily integrity, allowing them to stay on par with their healthy fellows. Human augmentation helps in reducing social injustice. Other than improving the lives of individuals, human augmentation also finds application in the defense and aerospace industry. Human augmentation can also improve safety and security across industries with its highly advanced sensory and visual capabilities.

Get an overview of this study by requesting a free sample

Market Dynamics:

Drivers

• Growing demand for human augmentation in the healthcare sector

The brain shrinks as a person gets older, and its ability to carry out billions of commands with its neurons decreases. Individuals' cognitive and motor abilities are harmed by the deterioration and reduction in brain efficacy. With age, the chances of acquiring a neurological disorder grow. As a result of the expanding senior population, people with neurological illnesses and neurodegenerative diseases will rise. Increased incidence of accidents has left a scoring number of people with disabilities. Human augmentation can help mitigate their shortcomings, allowing them to achieve bodily integrity on par with their fellow able-bodied individuals. The non-invasive nature of human augmentation with enhanced portability will increase the adoption of human augmentation to treat neurological conditions and limb and joint disabilities. The increasing prevalence of neurological diseases and limb disabilities, among other conditions, has increased the demand for human augmentation by the healthcare sector, which will drive the global market in the forecast period.

Restraints:

• High cost of capital expenditure

The study and development of human augmentation utilize a lot of money. Human augmentation uses cutting-edge technologies to boost its effectiveness; nevertheless, such technologies are costly, making human augmentation a costly endeavor. Human enhancement technologies are more expensive due to their advanced nature and complicated procedures. The high expenses of human augmentation will hamper the market's expansion.

Opportunities:

• Growing research and development 

With the rise in demand for human augmentation, significant companies have researched and built better augmentation technologies, systems, procedures, and devices. In the medical field, for example, near-infrared spectroscopy in brain imaging and mapping to deliver improved diagnoses is gaining popularity because it is a sophisticated, cost-effective, and durable technology compared to conventional methods. Other improvements in human augmentation will make the business more competitive and efficient, providing the industry with the needed impetus for expansion and profitable opportunities in the market. Technological advancements also increase the scope of application of human augmentation in the defense, aerospace, biotechnology, and industrial sectors.

Challenges:

• Constant modifications

The human augmentation market is regularly evolving with the increasing advancements in artificial technology, augmented reality, virtual assistants, and virtual reality. New functions, features, and abilities are added to older devices, technologies, procedures, and systems. Regular advancements make the older products redundant in the market. The need to constantly modify and improve the technology in the human augmentation market leaves the older technology without consumers, resulting in a loss of revenue for market players. High capital expenditure utilized to produce new technologies is not recovered from the market revenue of such products given their short market lifespan, which could challenge the global human augmentation market.

• Data security concerns

The computer-brain interface (human augmentation type) used in neurology translates and stores the data of the brain, including the thoughts and emotions which are privy to the individual. The lack of data security and safety laws makes the stored data vulnerable to cyberattacks. Similar instances of cyberattacks and other data theft crimes in human augmentation discourage the users from engaging in this market, thereby hindering its growth. The dependence on technology with the lack of preventive authentication measures increases the probability of unauthorized access to patient data at the expense of their physical & mental health.

Segmentation Analysis:

The global human augmentation market is segmented based on product type, functionality, application, and regions.

• The product type segment is divided into exoskeletons, wearable devices, intelligent virtual assistants, virtual reality devices, & augmented reality devices. The wearable devices segment dominated the market with a market share of around 34.77% in 2023. The wearable devices are utilized for various purposes, from diagnosis to brain-computer interface in healthcare institutions. Wearable devices consist of prosthetics, cochlear implants, hearing aids, bionic eyes, and smart glasses. The wide range of products offered in the wearable devices segment contributes to its dominance in the product type segment.
• The functionality segment is divided into body-worn and non-body worn. Over the forecast period, the non-body worn segment is expected to grow at the fastest CAGR of 21.98%. The primary driver of the non-body worn sub-segment would be AR/VR. AR/VR stands for augmented reality/virtual reality. AR/VR creates a virtual world by incorporating elements from the real world to provide an enriching experience to consumers. It can be utilized in virtual exploration, learning, & gaming, among other things. AR/VR enhances the learning and gaming experiences, saves time, and improves business performance. It is applied in various other sectors, contributing significantly to the growth of non-body worn functionality during the forecast period.
• The application is divided into commercial, medical, consumer, industrial, aerospace, defense, & others. In 2023, the consumer segment dominated the market, accounting for around 43.89% of global revenue. The increasing demand for fitness tracking apps such as smart-watches, Fitbit, oximeters & portable heart monitors during the pandemic has contributed to the growth of the consumer industry in the human augmentation market. The rising demand for video games, playboxes, AR, and VR for entertainment and recreational activities has also contributed significantly to the development of the consumer industry.

Regional Segmentation Analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The North American region emerged as the largest market for the global human augmentation market, with a 35.43% share of the market revenue in 2023.

Check the geographical analysis of this market by requesting a free sample

• North America currently dominates the human augmentation market due to the increased adoption of advanced human augmentation technology due to rising awareness about its benefits in the region's population. At the same time, Asia-Pacific is expected to rise in the forecast period due to the increased presence of significant players in the region coupled with the growing demand for human augmentation in consumer and commercial sectors.

Competitive Analysis:

The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances, and partnerships to improve their market position in the global human augmentation industry.

Samsung Electronics Co., Ltd. (South Korea) introduced the Galaxy Watch4 and Galaxy Watch 4 Classic in August 2021. These devices include the new Samsung BioActive Sensor, which allows for real-time measurement of many-body composition metrics such as fat % and hydration levels.

List of Key Market Players:

• Samsung Electronics Co. Ltd.
• Google LLC
• Ekso Bionics Holdings Inc.
• Garmin Ltd.
• Cyberdyne Inc.
• Magic Leap
• Casio Computer Co. Ltd.
• Vuzix Corporation
• Raytheon Company
• Fossil Group Inc.

Key Target Audience

• Hospitals/Healthcare Providers
• Market Players
• Investors
• End-users
• Government Authorities
• Consulting And Research Firm
• Venture capitalists
• Third-party knowledge providers

Report Description:

• Global Human Augmentation Market, Industry Analysis, Trends, Analysis and Forecast, 2024 to 2033 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
• 2023 is considered as the base year of the report. 2020, 2021 and 2022 are considered as the historic years and 2024 to 2033 are the forecast years. The global human augmentation market is based on revenue (USD Billion). The report incorporates the market study based on revenue. The study covers the market share revenue/market share/volume for each of the segments, regions, and countries catering to the global human augmentation market. The regions analyzed for the market are Europe, Asia Pacific, North America, South America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
• The report encompasses with the relative data & information, which have been validated by the leading industry professionals and experts across the globe. The research report also delivers an outline of the attractiveness of human augmentation based on product type, functionality, application, and regions which are deduced and formulated based on their growth rate (CAGR), market size, and attractiveness by analyzing the present and prospects to fathom market growth and development in future.
• The report illustrates the detailed (both quantitative and qualitative) analysis of historical data, revenues, key developments, along with the crucial strategies adopted by key organizations catering to the global human augmentation market. This offers vital and in-depth insights to depict the overall market scenario.
• The report offers the detailed study for the company profiles of key organizations operating in the global human augmentation market and a comparative assessment based on their product offering, business overviews, geographic presence, business strategies, segment market share, product development & innovations, recent developments, joint venture, partnerships, mergers & acquisitions, strategic alliances, SWOT analysis, and key financial information. This helps in evaluating the overall competition present in the market scenario.
• The report provides an elaborative assessment of the porter's five forces analysis coupled with SWOT analysis to provide business related data and informations. Porter's five forces model is analyzed to understand the overall competitive scenario that is prevailing in the market. Additionally, the SWOT analysis identifies both the positive and negative attributes of the market development which influences the company's growth and development to sustain and survive in the long run.
• Along with that, the report also focuses on the market related driving factors, growth limitations (restraints), potential industry opportunities, significant trends and development which act as a key potential for the investors.
• Potential growth prospects along with the penetration rate analysis of the product (market related, i.e., global human augmentation market) are covered to comprehend the adoption rate and evaluate the market size.