Published Date: 28-Feb-2022
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According to a new report Global Human Augmentation Market, published by KBV research, The Global Human Augmentation Market size is expected to reach $385.9 billion by 2027, rising at a market growth of 18.8% CAGR during the forecast period.
The Body-worn market is generating high revenue in the Global Human Augmentation Market by Functionality 2020, thereby, achieving a market value of $268.3 Billion by 2027. It is owing to the various factors like ease of maintenance, growing popularity of wearables, and better interactivity of these devices.
The Virtual Reality Devices market shows highest growth rate of 17.9% during (2021 - 2027). Virtual Reality (VR) is a computer-generated environment with realistic-looking images and objects that gives the user the feeling of being completely immersed in their surroundings. This environment is viewed through the use of a Virtual Reality headset or helmet. The increasing popularity of VR devices would accelerate the growth of the segment.
The Consumer market acquired maximum revenue share in the Global Human Augmentation Market by Application 2020, thereby, achieving a market value of $148.5 billion by 2027. It is owing to the increased acceptance of wearable devices for fitness tracking and health monitoring. In addition, there is a rise in demand for AR and VR HMDs due to the gamification of various industries. Smart speakers have been increasingly popular in recent years as a result of their convenience. These devices may be connected to a smartphone via mobile apps and used to operate connected household gadgets and appliances including lights, air conditioners, and refrigerators.
The North America market is the fastest growing region in the Global Human Augmentation Market by Region 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $131.3 billion by 2027. The Europe market is expected to witness a CAGR of 17.9% during (2021 - 2027). Additionally, The Asia Pacific market is expected to witness a CAGR of 20.7% during (2021 - 2027).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
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