Chatbots and IVAs: Driving Growth in the Human Augmentation Market

According to a research report "Human Augmentation Market Size by Wearable (Wristwear, Bodywear, Footwear, Eyewear), AR (Head-mounted display), VR (Head-up display), Biometric (Fingerprint, Face, Iris), Exoskeleton (Powered, Passive), IVA (Chatbot), Functionality - Global Forecast to 2028" The global human augmentation market is expected to be valued at USD 253.6 billion in 2023 and is projected to reach USD 545.1 billion by 2028; it is expected to grow at a CAGR of 16.5% from 2023 to 2028.

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The consumer market for human augmentation includes wearables, smart glasses, and other consumer-oriented technologies, leading to increased adoption and market growth. The gaming and entertainment industry is exploring virtual and augmented reality technologies for immersive experiences, contributing to the market's expansion.

Human Augmentation market for Exoskeletons product type to hold the highest CAGR during the forecast period.

Exoskeleton products in the human augmentation market are growing due to their widespread applications in assisting individuals with mobility issues, addressing the needs of an aging population, supporting medical rehabilitation, enhancing workplace safety, military use, sports and fitness, technological advancements, customization, consumer interest, research and development, regulatory support, and global collaboration. These factors collectively contribute to the expansion of exoskeletons in the human augmentation landscape.

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Human Augmentation market for commercial end-users holds the highest CAGR during the forecast period.

Commercial businesses are increasingly adopting human augmentation technologies to improve the productivity and efficiency of their workforce. These technologies can streamline operations, reduce errors, and enhance overall output. Human augmentation solutions can help businesses reduce labor costs by automating repetitive tasks and allowing existing employees to handle more complex or strategic functions. In sectors like retail and hospitality, businesses use augmented reality and wearable technology to improve customer experiences through innovative marketing, navigation, and personalized services.

Human Augmentation market for Asia Pacific to hold the highest CAGR during the forecast period.

Asia Pacific, especially countries like Japan, South Korea, and China, is at the forefront of technological innovation. Ongoing advancements in robotics, artificial intelligence, biotechnology, and materials science drive the development of cutting-edge human augmentation technologies. Several countries in the Asia Pacific region, notably Japan and South Korea, have aging populations. With an increasing elderly demographic, there's a growing demand for human augmentation solutions to address age-related health issues and mobility impairments. Some governments in the Asia Pacific region actively invest in research and development of human augmentation technologies. These investments foster innovation and the growth of the market.

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Human Augmentation Companies:

  • Samsung (South Korea),
  • Alphabet Incorporation (US),
  • Apple Inc. (US),
  • Meta (US),
  • Microsoft (US),
  • Sony Group Corporation (Japan),
  • Ekso Bionics (US),
  • Vuzix (US),
  • Garmin Ltd. (US),
  • Fossil Group Inc. (US),
  • B-Temia (Canada),
  • Casio Computers Co., Ltd. (Japan),
  • ReWalk Robotics (US),
  • Cyberdyne Inc. (Japan),
  • Magic Leap, Inc. (US),
  • Polar Electro (Finland),
  • P&S Mechanics Co. Ltd. (South Korea),
  • LifeSense (Netherlands),
  • HK SMARTMV Limited (China),
  • Rex Bionics Ltd. (New Zealand),
  • Atheer, Inc. (US),
  • Cortigent (US),
  • Inbenta Holdings Inc. (US),
  • Mycroft AI, inc. (US),
  • CyberGlove Systems LLC (US),
  • Scope AR (US),
  • Merge Labs, Inc. (US),
  • Wearable Robotics SRL (Italy),
  • GOQII (US).

News Covered:

https://www.prnewswire.com/news-releases/human-augmentation-market-worth-545-1-billion-by-2028---exclusive-report-by-marketsandmarkets-301962942.html   

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