Global Human Augmentation Market Research Report 2022: Market to Reach $17 Billion by 2026 - Wearable AI Exudes Immense Potential to Augment Human Intelligence
DUBLIN, June 29, 2022 /PRNewswire/ -- The "Human Augmentation - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Human Augmentation Market to Reach $17 Billion by 2026
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.
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.
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 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.
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS (Total 46 Featured)
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
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SOURCE Research and Markets