Human Augmentation Market

Human Augmentation Market Size by Product Type (Exoskeletons, Wearable Devices, Intelligent Virtual Assistants, Virtual Reality Devices, & Augmented Reality Devices), Functionality (Body Worn, & Non-Body Worn), Application, Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

Base Year: 2021 Historical Data: 2019-20
  • Report ID: TBI-12814
  • Published Date: Jun, 2022
  • Pages: 231
  • Category: Healthcare
  • Format: PDF
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The global human augmentation market will reach USD 591.77 billion by 2030, at a CAGR of 17.35% from 2022 to 2030. The increasing application of human augmentation in the healthcare sector is the primary driver for the growth of the human augmentation market. Human augmentation market growth would be driven by the increasing incidence of neurological disorders & neurodegenerative conditions in which human augmentation is used to restore brain functions and reduce stress/pain for the patient. Technological advancements have diversified the scope of application for human augmentation in various sectors, namely, engineering, defense, aerospace, & biotechnology, among others. The rising awareness about the benefits of human augmentation will also contribute to the market's growth during the forecast period.

Market Overview:

Augment, or augmentation, refers to making something greater by adding a component. Human augmentation refers to the enhancement of the cognitive and physical capabilities of the human body. The upgrades or improvements can happen in bionics, prosthetics, nootropics, neurotechnology, & gene editing. The primary purpose of human augmentation is to restore the lost cognitive of physical capabilities of the human body. New technological advancements also enable individuals to improve their mental capabilities as well. Human augmentation is also known as human 2.0 as it integrates itself into the day-to-day life of the human. Human augmentation helps restore the ability that the human body has lost, enhancing an already existing ability or adding a new ability altogether. Human augmentation help reduces stress and headaches associated with acute migraine or other conditions. They also help improve sleep and cognitive functions, which can help treat neurodegenerative diseases that affect the behavior and motor functions of the patients. The non-invasive nature of human augmentation, along with ease of application and portability combined with the increasing at-home care settings, will lead to a wider acceptability of these devices and contribute to the growth of the global human augmentation market. Human augmentation can take the form of smart glasses, hearing aids, cochlear implants, bionic eyes, or orthodontics. Human augmentation enables individuals to achieve bodily integrity, allowing them to stay on par with their healthy fellows. Human augmentation helps in reducing social injustice. Other than improving the lives of individuals, human augmentation also finds application in the defense and aerospace industry. Human augmentation can also improve safety and security across industries with its highly advanced sensory and visual capabilities.

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Market Dynamics:

Drivers:
  • Growing demand for human augmentation in the healthcare sector

The brain shrinks as a person gets older, and its ability to carry out billions of commands with its neurons decreases. Individuals' cognitive and motor abilities are harmed by the deterioration and reduction in brain efficacy. With age, the chances of acquiring a neurological disorder grow. As a result of the expanding senior population, people with neurological illnesses and neurodegenerative diseases will rise. Increased incidence of accidents has left a scoring number of people with disabilities. Human augmentation can help mitigate their shortcomings, allowing them to achieve bodily integrity on par with their fellow able-bodied individuals. The non-invasive nature of human augmentation with enhanced portability will increase the adoption of human augmentation to treat neurological conditions and limb and joint disabilities. The increasing prevalence of neurological diseases and limb disabilities, among other conditions, has increased the demand for human augmentation by the healthcare sector, which will drive the global market in the forecast period.

Restraints:
  • High cost of capital expenditure

The study and development of human augmentation utilize a lot of money. Human augmentation uses cutting-edge technologies to boost its effectiveness; nevertheless, such technologies are costly, making human augmentation a costly endeavor. Human enhancement technologies are more expensive due to their advanced nature and complicated procedures. The high expenses of human augmentation will hamper the market's expansion.

Opportunities:
  • Growing research and development 

With the rise in demand for human augmentation, significant companies have researched and built better augmentation technologies, systems, procedures, and devices. In the medical field, for example, near-infrared spectroscopy in brain imaging and mapping to deliver improved diagnoses is gaining popularity because it is a sophisticated, cost-effective, and durable technology compared to conventional methods. Other improvements in human augmentation will make the business more competitive and efficient, providing the industry with the needed impetus for expansion and profitable opportunities in the market. Technological advancements also increase the scope of application of human augmentation in the defense, aerospace, biotechnology, and industrial sectors.

Challenges:
  • Constant modifications

The human augmentation market is regularly evolving with the increasing advancements in artificial technology, augmented reality, virtual assistants, and virtual reality. New functions, features, and abilities are added to older devices, technologies, procedures, and systems. Regular advancements make the older products redundant in the market. The need to constantly modify and improve the technology in the human augmentation market leaves the older technology without consumers, resulting in a loss of revenue for market players. High capital expenditure utilized to produce new technologies is not recovered from the market revenue of such products given their short market lifespan, which could challenge the global human augmentation market.

  • Data security concerns

The computer-brain interface (human augmentation type) used in neurology translates and stores the data of the brain, including the thoughts and emotions which are privy to the individual. The lack of data security and safety laws makes the stored data vulnerable to cyberattacks. Similar instances of cyberattacks and other data theft crimes in human augmentation discourage the users from engaging in this market, thereby hindering its growth. The dependence on technology with the lack of preventive authentication measures increases the probability of unauthorized access to patient data at the expense of their physical & mental health.

Segmentation Analysis:

The global human augmentation market is segmented based on product type, functionality, application, and regions.

  • The product type segment is divided into exoskeletons, wearable devices, intelligent virtual assistants, virtual reality devices, & augmented reality devices. The wearable devices segment dominated the market with a market share of around 35% in 2021. The wearable devices are utilized for various purposes, from diagnosis to brain-computer interface in healthcare institutions. Wearable devices consist of prosthetics, cochlear implants, hearing aids, bionic eyes, and smart glasses. The wide range of products offered in the wearable devices segment contributes to its dominance in the product type segment.
  • The functionality segment is divided into body-worn and non-body worn. Over the forecast period, the non-body worn segment is expected to grow at the fastest CAGR of 21.50%. The primary driver of the non-body worn sub-segment would be AR/VR. AR/VR stands for augmented reality/virtual reality. AR/VR creates a virtual world by incorporating elements from the real world to provide an enriching experience to consumers. It can be utilized in virtual exploration, learning, & gaming, among other things. AR/VR enhances the learning and gaming experiences, saves time, and improves business performance. It is applied in various other sectors, contributing significantly to the growth of non-body worn functionality during the forecast period.
  • The application is divided into commercial, medical, consumer, industrial, aerospace, defense, & others. In 2021, the consumer segment dominated the market, accounting for around 45% of global revenue. The increasing demand for fitness tracking apps such as smart-watches, Fitbit, oximeters & portable heart monitors during the pandemic has contributed to the growth of the consumer industry in the human augmentation market. The rising demand for video games, playboxes, AR, and VR for entertainment and recreational activities has also contributed significantly to the development of the consumer industry.
Regional Segmentation Analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The North American region emerged as the largest market for the global human augmentation market, with a 36% share of the market revenue in 2021.

  • North America currently dominates the human augmentation market due to the increased adoption of advanced human augmentation technology due to rising awareness about its benefits in the region's population. At the same time, Asia-Pacific is expected to rise in the forecast period due to the increased presence of significant players in the region coupled with the growing demand for human augmentation in consumer and commercial sectors.

North America region Human Augmentation Market Share in 2021 - 36%

 

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Competitive Analysis:

The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances, and partnerships to improve their market position in the global human augmentation industry.

Samsung Electronics Co., Ltd. (South Korea) introduced the Galaxy Watch4 and Galaxy Watch 4 Classic in August 2021. These devices include the new Samsung BioActive Sensor, which allows for real-time measurement of many-body composition metrics such as fat % and hydration levels.

List of Key Market Players:

  • Samsung Electronics Co. Ltd.
  • Google LLC
  • Ekso Bionics Holdings Inc.
  • Garmin Ltd.
  • Cyberdyne Inc.
  • Magic Leap
  • Casio Computer Co. Ltd.
  • Vuzix Corporation
  • Raytheon Company
  • Fossil Group Inc.

Key Target Audience

  • Hospitals/Healthcare Providers
  • Market Players
  • Investors
  • End-users
  • Government Authorities
  • Consulting And Research Firm
  • Venture capitalists
  • Third-party knowledge providers

Report Description:

  • Global Human Augmentation Market, Industry Analysis, Trends, Analysis and Forecast, 2022 to 2030 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
  • 2021 is considered as the base year of the report. 2019 and 2020 are considered as the historic years and 2022 to 2030 are the forecast years. The global human augmentation market is based on revenue (USD Billion). The report incorporates the market study based on revenue. The study covers the market share revenue/market share/volume for each of the segments, regions, and countries catering to the global human augmentation market. The regions analyzed for the market are Europe, Asia Pacific, North America, South America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
  • The report encompasses with the relative data & information, which have been validated by the leading industry professionals and experts across the globe. The research report also delivers an outline of the attractiveness of human augmentation based on product type, functionality, application, and regions which are deduced and formulated based on their growth rate (CAGR), market size, and attractiveness by analyzing the present and prospects to fathom market growth and development in future.
  • The report illustrates the detailed (both quantitative and qualitative) analysis of historical data, revenues, key developments, along with the crucial strategies adopted by key organizations catering to the global human augmentation market. This offers vital and in-depth insights to depict the overall market scenario.
  • The report offers the detailed study for the company profiles of key organizations operating in the global human augmentation market and a comparative assessment based on their product offering, business overviews, geographic presence, business strategies, segment market share, product development & innovations, recent developments, joint venture, partnerships, mergers & acquisitions, strategic alliances, SWOT analysis, and key financial information. This helps in evaluating the overall competition present in the market scenario.
  • The report provides an elaborative assessment of the porter's five forces analysis coupled with SWOT analysis to provide business related data and informations. Porter's five forces model is analyzed to understand the overall competitive scenario that is prevailing in the market. Additionally, the SWOT analysis identifies both the positive and negative attributes of the market development which influences the company's growth and development to sustain and survive in the long run.
  • Along with that, the report also focuses on the market related driving factors, growth limitations (restraints), potential industry opportunities, significant trends and development which act as a key potential for the investors.
  • Potential growth prospects along with the penetration rate analysis of the product (market related, i.e., global human augmentation market) are covered to comprehend the adoption rate and evaluate the market size.

Frequesntly Asked Questions

As per The Brainy Insights, the size of the human augmentation market was valued at USD 140.22 billion in 2021 to USD 591.77 billion by 2030.

Global human augmentation market is growing at a CAGR of 17.35% during the forecast period 2022-2030.

The global human augmentation market has been segmented based on product type, functionality, application, and regions. The wearable devices segment led the market in 2021. The consumer segment led the market in 2021.

North America region emerged as the largest market for the human augmentation.

The market's growth will be influenced by the growing demand for human augmentation in the healthcare sector.

High cost of capital expenditure could hamper the market growth.

Growing research and development in human augmentation will provide huge opportunities to the market.

Key players are Samsung Electronics Co. Ltd., Google LLC, Ekso Bionics Holdings Inc., Garmin Ltd., Cyberdyne Inc., Magic Leap, Casio Computer Co. Ltd., Vuzix Corporation, Raytheon Company, and Fossil Group Inc.

1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis by Product Type
          4.3.2. Market Attractiveness Analysis by Functionality
          4.3.3. Market Attractiveness Analysis by Application
          4.3.4. Market Attractiveness Analysis by Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Growing demand for human augmentation in healthcare
    5.3. Restraints
          5.3.1. High cost of capital expenditure
    5.4. Opportunities
          5.4.1. Growing research and development
    5.5. Challenges
          5.5.1. Constant modifications
          5.5.2. Data security concerns

6. Global Human Augmentation Market Analysis and Forecast, By Product Type
    6.1. Segment Overview
    6.2. Exoskeletons
    6.3. Wearable Devices
    6.4. Intelligent Virtual Assistants
    6.5. Virtual Reality Devices
    6.6. Augmented Reality Devices

7. Global Human Augmentation Market Analysis and Forecast, By Functionality
    7.1. Segment Overview
    7.2. Body Worn
    7.3. Non-Body Worn

8. Global Human Augmentation Market Analysis and Forecast, By Application
    8.1. Segment Overview
    8.2. Commercial
    8.3. Medical
    8.4. Consumer
    8.5. Industrial
    8.6. Aerospace
    8.7. Defense
    8.8. Others

9. Global Human Augmentation Market Analysis and Forecast, By Regional Analysis
    9.1. Segment Overview
    9.2. North America
          9.2.1. U.S.
          9.2.2. Canada
          9.2.3. Mexico
    9.3. Europe
          9.3.1. Germany
          9.3.2. France
          9.3.3. U.K.
          9.3.4. Italy
          9.3.5. Spain
    9.4. Asia-Pacific
          9.4.1. Japan
          9.4.2. China
          9.4.3. India
    9.5. South America
          9.5.1. Brazil
    9.6. Middle East and Africa
          9.6.1. UAE
          9.6.2. South Africa

10. Global Human Augmentation Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the Human Augmentation Market
          10.2.1. Global Company Market Share
          10.2.2. North America Company Market Share
          10.2.3. Europe Company Market Share
          10.2.4. APAC Company Market Share
    10.3. Competitive Situations and Trends
          10.3.1. Product Launches and Developments
          10.3.2. Partnerships, Collaborations, and Agreements
          10.3.3. Mergers & Acquisitions
          10.3.4. Expansions

11. Company Profiles
    11.1. Samsung Electronics Co. Ltd.
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Product Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. Google LLC
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Product Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. Ekso Bionics Holdings Inc.
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Product Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. Garmin Ltd.
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Product Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. Cyberdyne Inc.
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Product Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. Magic Leap
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Product Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. Casio Computer Co. Ltd.
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Product Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
    11.8. Vuzix Corporation
          11.8.1. Business Overview
          11.8.2. Company Snapshot
          11.8.3. Company Market Share Analysis
          11.8.4. Company Product Portfolio
          11.8.5. Recent Developments
          11.8.6. SWOT Analysis
    11.9. Raytheon Technologies
          11.9.1. Business Overview
          11.9.2. Company Snapshot
          11.9.3. Company Market Share Analysis
          11.9.4. Company Product Portfolio
          11.9.5. Recent Developments
          11.9.6. SWOT Analysis
    11.10. Fossil Group Inc.
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Product Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis

List of Table

1. Global Human Augmentation Market, By Product Type, 2019-2030 (USD Billion) 

2. Global Exoskeletons Human Augmentation Market, By Region, 2019-2030 (USD Billion) 

3. Global Wearable Devices Human Augmentation Market, By Region, 2019-2030 (USD Billion) 

4. Global Intelligent Virtual Assistants Human Augmentation Market, By Region, 2019-2030 (USD Billion) 

5. Global Virtual Reality Devices Human Augmentation Market, By Region, 2019-2030 (USD Billion) 

6. Global Augmented Reality Devices Human Augmentation Market, By Region, 2019-2030 (USD Billion) 

7. Global Human Augmentation Market, By Functionality, 2019-2030 (USD Billion) 

8. Global Body Worn Human Augmentation Market, By Region, 2019-2030 (USD Billion) 

9. Global Non-Body Worn Human Augmentation Market, By Region, 2019-2030 (USD Billion) 

10. Global Human Augmentation Market, By Application, 2019-2030 (USD Billion) 

11. Global Commercial Human Augmentation Market, By Region, 2019-2030 (USD Billion) 

12. Global Medical Human Augmentation Market, By Region, 2019-2030 (USD Billion) 

13. Global Consumer Human Augmentation Market, By Region, 2019-2030 (USD Billion) 

14. Global Industrial Human Augmentation Market, By Region, 2019-2030 (USD Billion) 

15. Global Aerospace Human Augmentation Market, By Region, 2019-2030 (USD Billion) 

16. Global Defense Human Augmentation Market, By Region, 2019-2030 (USD Billion) 

17. Global Others Human Augmentation Market, By Region, 2019-2030 (USD Billion) 

18. Global Human Augmentation Market, By Region, 2019-2030 (USD Billion) 

19. North America Human Augmentation Market, By Product Type, 2019-2030 (USD Billion) 

20. North America Human Augmentation Market, By Functionality, 2019-2030 (USD Billion) 

21. North America Human Augmentation Market, By Application, 2019-2030 (USD Billion) 

22. U.S. Human Augmentation Market, By Product Type, 2019-2030 (USD Billion) 

23. U.S. Human Augmentation Market, By Functionality, 2019-2030 (USD Billion) 

24. U.S. Human Augmentation Market, By Application, 2019-2030 (USD Billion) 

25. Canada Human Augmentation Market, By Product Type, 2019-2030 (USD Billion) 

26. Canada Human Augmentation Market, By Functionality, 2019-2030 (USD Billion) 

27. Canada Human Augmentation Market, By Application, 2019-2030 (USD Billion) 

28. Mexico Human Augmentation Market, By Product Type, 2019-2030 (USD Billion) 

29. Mexico Human Augmentation Market, By Functionality, 2019-2030 (USD Billion) 

30. Mexico Human Augmentation Market, By Application, 2019-2030 (USD Billion) 

31. Europe Human Augmentation Market, By Product Type, 2019-2030 (USD Billion) 

32. Europe Human Augmentation Market, By Functionality, 2019-2030 (USD Billion) 

33. Europe Human Augmentation Market, By Application, 2019-2030 (USD Billion) 

34. Germany Human Augmentation Market, By Product Type, 2019-2030 (USD Billion) 

35. Germany Human Augmentation Market, By Functionality, 2019-2030 (USD Billion) 

36. Germany Human Augmentation Market, By Application, 2019-2030 (USD Billion) 

37. France Human Augmentation Market, By Product Type, 2019-2030 (USD Billion) 

38. France Human Augmentation Market, By Functionality, 2019-2030 (USD Billion) 

39. France Human Augmentation Market, By Application, 2019-2030 (USD Billion) 

40. U.K. Human Augmentation Market, By Product Type, 2019-2030 (USD Billion) 

41. U.K. Human Augmentation Market, By Functionality, 2019-2030 (USD Billion) 

42. U.K. Human Augmentation Market, By Application, 2019-2030 (USD Billion) 

43. Italy Human Augmentation Market, By Product Type, 2019-2030 (USD Billion) 

44. Italy Human Augmentation Market, By Functionality, 2019-2030 (USD Billion) 

45. Italy Human Augmentation Market, By Application, 2019-2030 (USD Billion) 

46. Spain Human Augmentation Market, By Product Type, 2019-2030 (USD Billion) 

47. Spain Human Augmentation Market, By Functionality, 2019-2030 (USD Billion) 

48. Spain Human Augmentation Market, By Application, 2019-2030 (USD Billion) 

49. Asia Pacific Human Augmentation Market, By Product Type, 2019-2030 (USD Billion) 

50. Asia Pacific Human Augmentation Market, By Functionality, 2019-2030 (USD Billion) 

51. Asia Pacific Human Augmentation Market, By Application, 2019-2030 (USD Billion) 

52. Japan Human Augmentation Market, By Product Type, 2019-2030 (USD Billion) 

53. Japan Human Augmentation Market, By Functionality, 2019-2030 (USD Billion) 

54. Japan Human Augmentation Market, By Application, 2019-2030 (USD Billion) 

55. China Human Augmentation Market, By Product Type, 2019-2030 (USD Billion) 

56. China Human Augmentation Market, By Functionality, 2019-2030 (USD Billion) 

57. China Human Augmentation Market, By Application, 2019-2030 (USD Billion) 

58. India Human Augmentation Market, By Product Type, 2019-2030 (USD Billion) 

59. India Human Augmentation Market, By Functionality, 2019-2030 (USD Billion) 

60. India Human Augmentation Market, By Application, 2019-2030 (USD Billion) 

61. South America Human Augmentation Market, By Product Type, 2019-2030 (USD Billion) 

62. South America Human Augmentation Market, By Functionality, 2019-2030 (USD Billion) 

63. South America Human Augmentation Market, By Application, 2019-2030 (USD Billion) 

64. Brazil Human Augmentation Market, By Product Type, 2019-2030 (USD Billion) 

65. Brazil Human Augmentation Market, By Functionality, 2019-2030 (USD Billion) 

66. Brazil Human Augmentation Market, By Application, 2019-2030 (USD Billion) 

67. Middle East and Africa Human Augmentation Market, By Product Type, 2019-2030 (USD Billion) 

68. Middle East and Africa Human Augmentation Market, By Functionality, 2019-2030 (USD Billion) 

69. Middle East and Africa Human Augmentation Market, By Application, 2019-2030 (USD Billion) 

70. UAE Human Augmentation Market, By Product Type, 2019-2030 (USD Billion) 

71. UAE Human Augmentation Market, By Functionality, 2019-2030 (USD Billion) 

72. UAE Human Augmentation Market, By Application, 2019-2030 (USD Billion) 

73. South Africa Human Augmentation Market, By Product Type, 2019-2030 (USD Billion) 

74. South Africa Human Augmentation Market, By Functionality, 2019-2030 (USD Billion) 

75. South Africa Human Augmentation Market, By Application, 2019-2030 (USD Billion) 

List of Figures 

1. Global Human Augmentation Market Segmentation

2. Human Augmentation Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Human Augmentation Market Attractiveness Analysis by Product Type

9. Global Human Augmentation Market Attractiveness Analysis by Functionality

10. Global Human Augmentation Market Attractiveness Analysis by Application

11. Global Human Augmentation Market Attractiveness Analysis by Region

12. Global Human Augmentation Market: Dynamics

13. Global Human Augmentation Market Share by Product Type (2022 & 2030)

14. Global Human Augmentation Market Share by Functionality (2022 & 2030)

15. Global Human Augmentation Market Share by Application (2022 & 2030)

16. Global Human Augmentation Market Share by Regions (2022 & 2030)

17. Global Human Augmentation Market Share by Company (2021)

This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global human augmentation market based on below mentioned segments:

Global Human Augmentation Market by Product Type:

  • Exoskeletons
  • Wearable Devices
  • Intelligent Virtual Assistants
  • Virtual Reality Devices
  • Augmented Reality Devices

Global Human Augmentation Market by Functionality:

  • Body Worn
  • Non-Body Worn

Global Human Augmentation Market by Application:

  • Commercial
  • Medical
  • Consumer
  • Industrial
  • Aerospace
  • Defense
  • Others

Global Human Augmentation Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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