Human Augmentation Global Market Report 2024

The human augmentation market size has grown exponentially in recent years. It will grow from $186.88 billion in 2023 to $230.56 billion in 2024 at a compound annual growth rate (CAGR) of 23.4%. The growth observed in the historical period can be attributed to factors such as the increasing adoption of human augmentation, a rise in research and development activities, the high cost of capital expenditure associated with such technologies, and a growing demand for human augmentation solutions.

The human augmentation market size is expected to see exponential growth in the next few years. It will grow to $488.89 billion in 2028 at a compound annual growth rate (CAGR) of 20.7%. The anticipated growth in the forecast period can be attributed to factors such as the increasing adoption of human augmentation in medical, defense, and industrial sectors, a rising demand for wearable devices and virtual reality technology, a growing interest in augmented reality and exoskeleton technology, and expanding opportunities within the human augmentation industry. Key trends expected during this period include the increasing adoption of wearable devices and virtual reality technology, advancements in AI-powered wearable devices, and ongoing technological innovations in human augmentation devices.

The upward trend in smart wearable device adoption is anticipated to drive growth in the human augmentation market. Smart wearable devices, equipped with sensors and advanced computing capabilities, play a pivotal role in enhancing physical and cognitive functions through human augmentation technologies. According to the Digital Health Consumer Adoption Survey by Rock Health Inc., conducted in February 2023, ownership of wearable smart devices increased to 46% in 2022, reflecting a steady rise from 43% in 2020 and 45% in 2021. This surge in adoption underscores the potential for smart wearable devices to fuel expansion in the human augmentation market.

Leading companies in the human augmentation sector are prioritizing product innovation to capitalize on market opportunities. One such innovation is the development of walk-sensing and coaching systems, designed to improve posture and walking technique by leveraging advanced technology. For instance, in October 2022, Kyocera Corporation introduced Physical Avatar, a solution enabling remote workers to interact with colleagues in the office environment using a 360-degree camera and microphone array. Additionally, Kyocera unveiled human augmentation technology prototypes in Japan, featuring advanced AI capabilities aimed at enhancing human abilities. Among these prototypes is the Walk Sensing and Coaching System, which utilizes sensors to analyze walking patterns and offers coaching to enhance posture and reduce the risk of falls. These initiatives align with Kyocera's commitment to enhancing personal safety, convenience, and overall quality of life through innovative technological solutions.

In July 2023, Atlas Copco AB, a renowned industrial company headquartered in Sweden, finalized the acquisition of Extend3D GmbH for $3.52 million. This strategic move positions Atlas Copco to enrich its capabilities in process and quality control, capitalizing on Extend3D's diverse portfolio of augmented reality products tailored for assembly operations characterized by high complexity and stringent quality requirements. Extend3D GmbH, a German-based provider specializing in human augmentation solutions for industrial clients, seamlessly aligns with Atlas Copco's commitment to innovation and excellence in industrial operations.

Major companies operating in the human augmentation market report are Alphabet Inc., Toyota Motor Corporation, Samsung Electronics Co. Ltd., Microsoft Corporation, General Motors Company, Huawei Technologies Co. Ltd., Sony Corporation, Raytheon Technologies Corporation, Panasonic Holdings Corporation, NVIDIA Corporation, Parker Hannifin Corporation, Garmin International Inc., Facebook Reality Labs (FRL), Fossil Group Inc., Magic Leap Inc., Hocoma AG, Wandercraft SAS, Touch Bionics Inc., Cyberdyne Inc., Vuzix, Ekso Bionics Holdings Inc., ReWalk Robotics Inc., Atheer Inc., BrainGate Company, Bionik Laboratories Corporation, Rex Bionics Ltd., B-Temia Inc., Life Sense (Pty) Ltd., Wearable Robotics SRL, Ekso Bionics Holdings Inc.

North America was the largest region in the human augmentation market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the human augmentation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the human augmentation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Human augmentation refers to the enhancement or improvement of human capabilities through the integration of technological or biological components, aiming to boost physical, cognitive, or sensory abilities.

The primary product types associated with human augmentation include wearable devices, augmented reality devices, virtual reality devices, exoskeletons, biometric systems, and intelligent virtual assistants. Wearable devices, also known as wearable technology, are electronic devices designed to be worn on the user's body. They incorporate technologies such as AI integration, quantum computing augmentation, biohacking, and bio-augmentation. Wearable devices find applications in various sectors, including consumer, commercial, medical, aerospace and defense, industrial, and others.

The human augmentation market research report is one of a series of new reports that provides human augmentation market statistics, including human augmentation industry global market size, regional shares, competitors with human augmentation market share, detailed human augmentation market segments, market trends, and opportunities, and any further data you may need to thrive in the human augmentation industry. This human augmentation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The human augmentation market includes revenues earned by entities by provide services such as physical augmentation, cognitive augmentation, sensory augmentation, biological augmentation, aesthetic augmentation, and physical fitness and enhancement. The market value includes the value of related goods sold by the service provider or included within the service offering. The human augmentation market consists of sales of prosthetic limbs, cochlear implants, exoskeletons, and haptic feedback devices. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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