Human Augmentation Market Size, Share & Industry Analysis, By Technology (Wearable, Virtual Reality, Augmented Reality, Exoskeleton, and Intelligent Virtual Assistant), By Device (Body Worn and Non-Body Worn), By Application (Medical, Aerospace & Defense, Sports & Utility, Media & Entertainment, Education, and Others), and Regional Forecast, 2024 – 2032

The global human augmentation market size was valued at USD 169.07 billion in 2023. The market is projected to grow from USD 201.59 billion in 2024 to USD 885.93 billion by 2032, exhibiting a CAGR of 20.3% during the forecast period.

Human augmentation, also known as Human 2.0, refers to the advanced technologies adopted to enhance and improvise human capabilities. The global aging population is significantly propelling the demand for healthcare solutions that can enhance the Quality of Life (QoL) and address health conditions associated with aging. According to the World Health Organization (WHO), 1 in 6 people across the globe will be aged 60 years or over by 2030. In addition, the number of people aged 60 years and over is anticipated to reach 1.4 billion by 2030 from 1 billion in 2020. Advanced technologies, such as exoskeletons, medical implants, and prosthetics, address the healthcare needs of an aging demographic.

The market is mainly driven by rising AR/VR device adoption and a growing customer count of exoskeleton technologies in the human augmentation industry. The demand for exoskeletons in industrial environments is majorly attributed to the increasing importance of enhancing worker safety, reducing workplace injuries & fatigue, and boosting productivity. Exoskeletons can help workers mitigate the risk of Musculoskeletal Disorders (MSDs) and enhance overall ergonomics in sectors, such as construction and manufacturing.

The COVID-19 pandemic urged pharmaceutical and healthcare institutions to rapidly pace and boost to develop and adopt the latest technologies such as Artificial Intelligence (AI), ML, AR, VR, smart wearables, exoskeleton devices, intelligent virtual assistants, and others. For instance, the Sheba Medical Center in Israel constructed a dedicated COVID-19 ICU center in an underground structure with one unit with a physical visual connection through the window between the control room and the contaminated zone. In contrast, another had only a virtual connection with digital technologies.

Human Augmentation Market Trends

Rising Demand for AR/VR Technology and Wearable Devices to be the Trendsetters for the Market

Technologies, such as Augmented Reality (AR) and Virtual Reality (VR), have continued to develop in the past decade. However, their adoption in wearable devices is still developing, and in the coming years, it is expected to get linked with other devices as well. The adoption is rising rapidly as more and more industries and businesses recognize the potential benefits of these advanced technologies. AR/VR technologies have tremendous potential to revolutionize market growth in various aspects of human life and industry sectors, such as healthcare, military, education, entertainment, and others.

The crucial factors for market development are consistent innovations, financial investments in R&D by key players, flawless connectivity, and advanced computing platforms. Further, development in sensor technologies and Artificial Intelligence (AI) helps humans to detect and manage chronic health issues and other severe illnesses on wearable devices.

• According to a few industry expert reports, approx. 320 million health and wellness wearable devices shipped globally in 2022. The report predicts it will touch 440 million units in 2024 as people are conscious and aware of their health conditions after the pandemic.

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Human Augmentation Market Growth Factors

Increased Adoption of Smart Wearable Devices is Likely to Drive the Human Augmentation Market

Smart wearable device innovation is developing quickly and is driven by advancements in sensors, semiconductors, and AI at present and in the coming years. Some industry market sizing data suggests almost 39% of the population owned smartwatches recently, of which 59% of the population use them for counting steps, 42% of the population uses them for workout purposes, 37% uses them for heart rate monitoring, 35% uses them for sleep tracking, 32% for calories burnt count, and 17% for tracking stress level. According to the PwC’s report, smart wearable technologies deliver better nutrition, improved access to medical data, exercise control, better patient involvement and individuals in the clinical decision phase, and more accurate diagnosis of disease or health problems.

RESTRAINING FACTORS

Data Security Concerns and High Capital Expenditure May Hinder Market

Advanced technologies require a lot of vulnerable personal data, which concerns safety and security. There has been an increase in data breaches recently. Increasing cyberattacks and data phishing crimes may leak sensitive data, hampering the human augmentation market share to a certain extent. For instance,

• According to Purplesec’s Cybersecurity statistic report, cybercrime has increased by 600% during the COVID-19 pandemic, and it is estimated that cybercrime will cost USD 10.5 trillion annually by 2025 at the global level.

Furthermore, the latest generation of cybercrime focuses on attacking human ICT implants connected to the central nervous system, such as cochlear implants, cardiac pacemakers, RFID implants, bionic limbs, deep brain stimulation, and others. These cyberattacks on human ICT implants can seriously cause significant harm to the human body. Moreover, it involves various technologies with high capital expenditure required for research and development, innovation purposes, several investments and collaborations, product development, testing procedures, and others. This is one of the crucial reasons that may hamper the global human augmentation market growth.

Human Augmentation Market Segmentation Analysis

By Technology Analysis

Integration of Wearable Devices with Smartphones Enhances Usability and Convenience

Based on technology, the market is divided into wearable, virtual reality, augmented reality, exoskeleton, and intelligent virtual assistant. The population's significant adoption of wearable devices to monitor health and fitness criteria is one of the essential elements responsible for the overall market growth. Moreover, the leading smart wearable manufacturers and technology providers are focused on patenting their technologies, funding various start-ups, and participating in technology-based mergers and acquisitions. The following are the fastest-growing companies that have the most patents:

• Qualcomm Inc. – 10,732


• Samsung Electronics Co. – 5,101


• LG Electronics – 4,480


• Apple, Inc. – 3,901


• Microsoft Corporation – 3,726


• Huawei – 3,573


• Intel Corporation – 2,718


• Google LLC – 2,621

Moreover, in June 2022, Softheon, Inc., a U.S.-based SaaS provider, acquired NextHealth Technologies, an Al-powered, healthcare-based Software-as-a-Service (SaaS) analytics service provider. This platform is designed to ease the burden on healthcare professionals by allowing customers to track their daily health system. Hence, the continuously increasing demand for wearable augmentation creates a growth opportunity for the market.

The augmented reality segment held the second-most major market share in 2022. AR enhances the perception of reality by blending digital content with the physical world and opening up new possibilities to various applications.

By Device Analysis

Body Worn Human Augmentation Products Enhance Physical Abilities and Individual’s Performance

Based on device, the market is bifurcated into body worn and non-body worn. Body worn segment is anticipated to record a higher growth rate in the coming years. The consistent growth of immersive content for AR/VR devices from the entertainment and gaming industry results in overall market growth. Furthermore, the adoption of body-worn devices, such as smartwatches, fitness trackers, smart jewelry, head-mounted displays, smart clothing, AR/VR headsets, implantable, and others, is constantly growing.

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By Application Analysis

Technological Advancements in Healthcare Drives Demand for Medical Applications Segment

Based on application, the market is segmented into medical, aerospace & defense, sports & utility, media & entertainment, education, and others. The medical segment dominates as the healthcare industry accelerates quickly due to technological advances, offering new opportunities to improve patient care. Human augmentation plays a vital role in the medical sector as it provides virtual health assistance, accurate cancer diagnosis, early diagnosis of fatal blood diseases, help in treating rare diseases, robot-assisted surgeries, managing medical records, reducing dosage errors, automated redundant healthcare tasks, fraud detection, automatic image diagnosis, developing new medicines, improvised healthcare access and others.

The aerospace & defense segment is expected to reflect the highest CAGR over the forecast period. The advancements in this segment are spontaneous, with improved efficiency, situational awareness, cost reduction, and enhanced defense capabilities.

REGIONAL INSIGHTS

The global market is studied across North America, South America, Europe, Middle East & Africa, and Asia Pacific, and each region is further studied across countries.

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North America is the most promising region, holding 43.7% of the global market share. The region holds the highest market share as North America is technologically advanced and is an early adopter of various technologies such as AR/VR, different wearable devices, intelligent virtual assistants, robotic exoskeletons, and others. Moreover, heavy investments in research & development activities and the adoption of technologies are expected to maintain the demand for human augmentation in the region. Amid the pandemic, human augmentation technologies have gained tremendous popularity due to their bright future and advantages over traditional technologies.

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Europe is expected to show significant market growth during the forecast period due to increased usage of robots that have aided medical research and healthcare equipment innovation in developed countries, such as the U.K., Germany, France, and others, resulting in the surging adoption of human augmentation technologies.

Asia Pacific is expected to show a higher growth trajectory. Growing digitization and adopting advanced technologies, such as cloud deployment, Big Data, and artificial intelligence, will likely surge the demand across various industries such as healthcare & life sciences, media & entertainment, and aerospace & defense.

As the world is revolutionizing to Industry 4.0, governments and various businesses in the Middle East & Africa have started to realize the paradigm shift toward AI and human augmentation technologies. Hence, the MEA region is anticipated to accrue 18% of the CAGR as AI positively impacts society and the economy.

During the COVID-19 pandemic, South America faced significant changes in terms of market growth. The level of growth and the intensity of its technological component increased substantially. The region’s countries focus on the importance of studying the role of innovation, technology diffusion, and other research & development activities in terms of the economic growth of South American countries.

List of Key Companies in Human Augmentation Market

Market Players Engage in Partnerships and Mergers to Strengthen Market Standings

Key players in the market are engaging in various mergers and partnerships to develop and deliver the latest and most advanced solutions aligned with customers’ requirements and market needs. Moreover, a few focus on integrating their existing product portfolio with advanced technologies to deliver flexible solutions with unique features. Further, government initiatives empower SMEs to bring their business online, further fueling market growth.

List of Key Companies Profiled: 

• Google LLC (Alphabet, Inc.) (U.S.)


• Magic Leap, Inc. (U.S.)


• ReWalk Robotics (U.S.)


• SAMSUNG (South Korea)


• B-Temia (Canada)


• Panasonic Holdings Corporation (Japan)


• NVIDIA Corporation (U.S.)


• Microsoft (U.S)


• Ekso Bionics (U.S.)


• Vuzix (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• January 2024: Neuralink, an American neurotechnology company, successfully implanted a brain chip in the first human. The company received the U.S. Food and Drug Administration (FDA) clearance in 2023 for the first trial to test brain chips in humans, an important milestone for the startup.


• December 2023: Verve, Inc., a developer of exoskeletons, raised USD 20 million in Series B funding led by Safar Partners, Cybernetix Ventures, and also follow-on investments from existing investors. This new funding is to help the company scale its soft exoskeleton “SafeLift”.       


• May 2023: Vuzix Corporation, AR and smart glasses technology devices provider, partnered with TeamOpenSmartGlasses to develop ChatGPT AI applications on their smart glasses. It will enhance and improve conversations and meetings in the corporate world.


• April 2023: Audi Design Studio presented Audi Activesphere, a concept car that features Magic Leap 2, an AR-based driver UI designed and created by Magic Leap, Inc. to transform the driver experience.


• March 2023: ReWalk Robotics Ltd., a medical innovative technologies provider, announced the clearance for ReWalk Personal Exoskeleton technology from the U.S. Food and Drug Administration (FDA).

REPORT COVERAGE

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The report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product/service types, and leading applications of the product. Besides, the report offers insights into the market trends and highlights key industry developments. In addition to the factors above, the report encompasses several factors that contributed to the growth of the market in recent years.

Report Scope & Segmentation