According to our latest market study on “Human Augmentation Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product Type, Functionality, and Application,” the market is expected to grow from US$ 116.88 Billion in 2021 to US$ 498.70 Billion by 2028 with an estimated CAGR of 23% from 2022 to 2028.
Human expansion is the innovation that targets helping human capacity and effectiveness through different counterfeit strategies. It incorporates biotechnology and machines that are utilized for working on the necessary human abilities with the assistance of fake or regular strategies. Human expansion has encountered colossal reception in different businesses, like military, protection, medical services, and assembling associations. The rising interest for human expansion gadgets, like AR gadgets, VR gadgets, exoskeletons, and so on, has urged designers to send off cutting edge items, which is expected to move the human expansion market development before very long. Further, the advancement in the medical services area is the main consideration adding to the development of the human expansion market. Notwithstanding, the absence of gifted workers and the significant expense of clinical contraption are restricting the development of the market.
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Human expansion assists people with decreasing actual pressure and reestablish mental and actual capacities. Further, different mechanical headways in the field of designing, neuroscience, and biotechnology have started physical and mental upgrades in the personal satisfaction and wellbeing of people. The tendency of individuals toward trend setting innovations has prompted the development of the medical care area. For example, in September 2021, B-Temia Inc. sent off another variant of Keeogo, one of its lead items. The new form of Keeogo (savvy controlled orthosis) is intended to upgrade the experience of clinicians and end-clients. Further, in the medical care area, prosthetic appendages/arms (a type of exoskeleton) are given to impaired individuals, which helps them in performing everyday undertakings. Essentially, a wide assortment of exoskeletons are available on the lookout, which assists people or the matured populace with joint/appendage inabilities to manuever without any problem. One more illustration of a human expansion gadget utilized in the medical care area is a container camera, a gulping gadget intended for outwardly looking at the gastrointestinal system.
One of the critical patterns in the human expansion market is the advancement of innovations that can be utilized to upgrade the elements of the human body without the requirement for any inserts or medical procedure. For example, the advancement of exoskeletons works on the strength and perseverance of the body and upgrades the capability of the cerebrum, like mind PC interfaces. A couple of the affiliations related to the human increase market are VR/AR Affiliation (VRARA), Relationship of the Exoskeleton Business (VDEI), Australian Orthotic Prosthetic Affiliation Ltd. (AOPA), Global Remote helpers Affiliation (IVAA), Canadian Relationship of Remote helpers (CAVA), Worldwide Relationship of Expert Menial helpers (IAPO), and so on.
Google Inc.; Samsung Electronics Co. Ltd.; Ekso Bionics Holdings, Inc.; Vuzix Corporation; Garmin; Fossil Group, Inc.; B-Temia Inc.; Casio, Magic Leap Inc.; and Rewalk Robotics Ltd. are a few of the key human augmentation market players profiled in the report. Several other major companies, such as Panasonic Corporation, Toyota Motor Corporation, Parker Hannifin, and Cyberdyne, were also studied and analyzed during this research study to get a holistic view of the human augmentation market and its ecosystem. Many market players in the human augmentation market are following organic and inorganic growth strategies, such as product launches, product developments, market expansion, partnerships, collaborations, and mergers and acquisitions, to remain competitive in the market. A few of the examples are mentioned below:
- In September 2021, Fossil launched its Gen 6 touchscreen smartwatch line in a virtual press conference. A few of its features include:
- Offers quick customers application load times
- Responsive user experiences
- Efficient power consumption
- It is powered by the Qualcomm Snapdragon Wear 4100+ Platform
- In May 2021, Ekso Bionics extended its partnership with Kindred Healthcare, a post-acute healthcare services company, to bring EksoNR (clinically used robotic exoskeleton) to four of Kindred’s Long-Term Acute Care Hospitals in the US.
- In June 2021, Magic Leap partnered with AMD, an American multinational semiconductor company, to utilize Nvidia graphics acceleration technology for its first AR/XR headset.
- In January 2021, Google LLC acquired Fitbit Inc. for US$ 2.1 billion for entering the wearable payment device market.
- In September 2020, Vuzix Corporation launched Blade, a glass featuring Vuzix’s new waveguide technology. Waveguides merge instructions that are sent digitally into real tasks and help in the removal of visual distractions and occlusion. The smart glasses also feature autoscan cameras and noise cancellation.
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