LAMEA Human Augmentation Market Size, Share & Industry Trends Analysis Report By Functionality, By Product Type, By Application, By Country, Historical Data and Growth Forecast, 2021 - 2027
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Market Report Description
The Latin America, Middle East and Africa Human Augmentation Market would witness market growth of 23.0% CAGR during the forecast period (2021-2027).
The technology will be used to combine cognitive abilities with real-time data. Projects like Neuralink aim to improve people's mental abilities by developing a brain-computer interface that allows them to connect with computers on a neural level. These advancements are anticipated to enable human enhancement, which would significantly alter daily routines and lifestyles. Advancements in sensing and actuation have contributed considerably to the progress of human augmentation throughout the years.
In recent years, the expansion and adoption of digital technologies like artificial intelligence, 5G, and the Internet of Things (IoT) have laid the foundation of sophisticated human augmentation, which represents a considerable leap forward from previous augmentation technologies. Human augmentation has a wide range of actual and future uses, with some of the first focusing on the restoration of missing body parts using artificial limbs.
Companies across this region are introducing various subtypes of human augmentation like Exceeding Human Ability. Exceeding refers to technology that allows customers to achieve actions that are physically impossible to do. RoboGlove, developed by General Motors, is one such example of human augmentation technology. Along with that, the advancements in sensor technologies would support companies to improve their operations and enhance resources in the market.
The Brazil market dominated the LAMEA Human Augmentation Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $8,196.6 million by 2027. The Argentina market would showcase a CAGR of 23.6% during (2021 - 2027). Additionally, The UAE market is anticipated to grow a CAGR of 22.6% during (2021 - 2027).
Based on Functionality, the market is segmented into Body-worn and Non-body-worn. Based on Product Type, the market is segmented into Wearable Devices, Virtual Reality Devices, Augmented Reality Devices, Intelligent Virtual Assistants, and Others. Based on Application, the market is segmented into Consumer, Commercial, Medical, Aerospace & Defense, Industrial, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Ekso Bionics Holdings, Inc., Cyberdyne, Inc., Magic Leap, Inc., ReWalk Robotics Ltd., Samsung Electronics Co., Ltd. (Samsung Group), Google LLC, Garmin Ltd., Casio Computer Co., Ltd., Fossil Group, Inc., and Vuzix Corporation.
Scope of the Study
Market Segments Covered in the Report:
By Product Type
- Wearable Devices
- Virtual Reality Devices
- Augmented Reality Devices
- Intelligent Virtual Assistants
- Aerospace & Defense
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Ekso Bionics Holdings, Inc.
- Cyberdyne, Inc.
- Magic Leap, Inc.
- ReWalk Robotics Ltd.
- Samsung Electronics Co., Ltd. (Samsung Group)
- Google LLC
- Garmin Ltd.
- Casio Computer Co., Ltd.
- Fossil Group, Inc.
- Vuzix Corporation
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