The human augmentation market is projected to grow from USD 70.9 billion in 2019 to USD 206.9 billion by 2024, at a CAGR of 23.9%. Major factors driving the growth of the market include the surge in technology penetration in healthcare, safe and strong military personnel, advent of artificial intelligence in wearable devices, and growing popularity of wearable augmentation products.
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Virtual reality eye tracking and gesture-controlled technologies are used to control the In-Flight Entertainment and Connectivity (IFEC) system without the use of remote controls that are highly utilized in the aerospace and defense field. The combination of eye tracking and hand gesture technologies enables passengers to engage with their in-flight entertainment in a natural way, thereby increasing its importance in the application area.
APAC to witness highest CAGR in human augmentation market during forecast period
Japan has a strong base of technologically advanced manufacturing industries that presents a significant opportunity for the market technology market in the country. Also, massive mobile user base and high population growth rate in the country are driving growth for the market in APAC. In India, growing usage of smart devices, availability of cheap labor, and increase in disposable income, as well as rebounding economy, are the key driving factors for the growth of the human augmentation market.
Key Market Players
Key players operating in the human augmentation market are Google Inc. (US), Samsung Electronics Co. Ltd. (South Korea), Ekso Bionics Holdings Inc. (US), Vuzix Corporation (US), Garmin (US), Fossil Group Inc. (US), B-Temia Inc. (Canada), Casio (Japan), Magic Leap Inc. (US), Rewalk Robotics Inc. (Israel), Polar Electro (Finland), P&S Mechanics. (South Korea), Jawbone Inc. (US), Life Sense Group B.V (Netherlands), Atoun (Japan), Mobvoi (China), Rex Bionics (New Zealand), Goqii (US), Guangdong BBK Electronics Co. Ltd. (China), and Atheer, Inc, (US).
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