Market Synopsis:
Human augmentation leverages biotechnology, mechanics, and electronics for enhancing the capabilities of a human being and enabling them to overcome limitations. The technology facilities the augmentation of human capabilities and productivity while also improving bodily capabilities. It has found applications in different industries from healthcare to defense. In the report circulated by Market Research Future MRFR, the global human augmentation market is projected to reach a valuation of USD 3 Bn by 2023 up from USD 588 Mn in 2017. The global market is expected to expand at 30% CAGR during the forecast period 2017 to 2023.
The technology is widely used in the health sector for improving the functional capacity of disabled people. Adoption of advancing technologies has improved the efficiency over time. This, in turn, is anticipated to support the expansion of the human augmentation market over the next couple of years. Rising investments in research & development ensure a healthy future trajectory of the market. However, a lack in the availability of skilled professionals is anticipated which can impede market growth in the coming years.
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Competitive Dashboard:
B-Temia, Ekso Bionics Holdings, BrainGate Company, Cyberdyne, Samsung Electronics Co Ltd, Raytheon Company, Bionik Laboratories Corporation, Panasonic Corporation, Toyota Motor Corporation, and Parker Hannifin are some of the key participants of the global human augmentation market. These players are focusing on the development of innovative technologies which is anticipated to boost competition in the global market place. It has also been presumed that the players will be investing in the expansion of their global footprint over the next couple of years. This, in turn, is supposed to intensify competitiveness in the human augmentation market on the global front. Increasing investments in product launches and product developments are expected to impact the competitive landscape of the market positively. In addition, the inorganic growth strategies expected to be employed in the market over the assessment period are – mergers and acquisitions, strategic alliances, agreements, partnerships and collaborations among others.
Market Segmentation:
On the basis of product, the Human Augmentation Market has been divided into wearable augmentation and in-built augmentation. Among these, the wearable augmentation segmented held the dominant position in 2017. It is projected to retain a considerable amount of market share over the next couple of years. In addition, the in-built augmentation segment is also prognosticated to exhibit exponential growth. The report reveals that the segment is expected to strike 28% CAGR during the forecast period.
On the basis of end-user, the human augmentation market has been segmented into healthcare, defense, IT, manufacturing, and others. Among these, the healthcare sector has shown the highest penetration by the technology. It is anticipated to hold a key position in the market place over the assessment period. Meanwhile, the defense segment also resonates growth potential and is poised to mark 28% CAGR across the assessment period.
Regional Analysis:
The regional assessment of the global human augmentation market is covered in this report which identifies four segments – North America, Asia Pacific (APAC), Europe, and the Rest of the World (RoW). These regional segments of the market are then further studies on the basis of countries present. The valuation of every segment is covered for providing a comprehensive view of the human augmentation market. North America is presumed to lead the growth of the human augmentation market on the global front. Increasing investments in the development of technologies such as gene engineering, artificial intelligence, exoskeleton, etc. are projected to catalyze expansion of the human augmentation market in the foreseeable future. The U.S. is prognosticated to contribute most substantially to the growth of the regional market.
LIST OF TABLES
TABLE 1 GLOBAL HUMAN AUGMENTATION MARKET, BY PRODUCT, 2019-2023 (USD MIL-LION) 29
TABLE 2 GLOBAL HUMAN AUGMENTATION MARKET, BY END USER, 2019-2023 (USD MILLION) 32
TABLE 3 GLOBAL HUMAN AUGMENTATION MARKET, BY REGION, 2019-2023 (USD MIL-LION) 36
TABLE 4 NORTH AMERICA HUMAN AUGMENTATION MARKET, BY COUNTRY, 2019-2023 (USD MILLION) 39
TABLE 5 NORTH AMERICA HUMAN AUGMENTATION MARKET, BY PRODUCT, 2019-2023 (USD MILLION) 40
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LIST OF FIGURES
FIGURE 1 TOP DOWN & BOTTOMUP APPROACH 17
FIGURE 2 FORECAST MODEL 17
FIGURE 3 PORTER’S FIVE FORCES ANALYSIS OF GLOBAL HUMAN AUGMENTATION MAR-KET 26
FIGURE 4 GLOBAL HUMAN AUGMENTATION MARKET, BY PRODUCT, 2019-2023 (USD MIL-LION) 29
FIGURE 5 GLOBAL HUMAN AUGMENTATION MARKET, BY END USER, 2019-2023 (USD MILLION) 32
Continued…….
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