Northbrook, IL 60062 -- (SBWire) -- 06/24/2022 --The human augmentation market is estimated to be worth USD 131.7 billion in 2021 and is projected to reach USD 341.2 billion by 2026, at a CAGR of 21.0%.

Growing demand for wearable human augmentation devices in healthcare sector, the recent advent of AI-powered wearable devices and rapid technological advancements such as availability of fast processing chipsets, miniaturization of sensors, use of brain-computer interfaces and evolution of nanotechnology are some of the major factors contributing to the market growth.

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Non-body-worn human augmentation products to grow at the highest CAGR during the forecast period

Non-body-worn human augmentation products are expected to register the highest growth during the forecast period. The growing demand for immersive content for AR and VR devices for gaming and entertainment applications is expected to drive the market growth for AR and VR software, thereby driving the market growth for non-body-worn products.

Consumer applications to dominate the human augmentation market during the forecast period

The human augmentation market for consumer applications is projected to account for the largest market share during the forecast period. The growing adoption of wearable devices for fitness tracking and health monitoring and the growing demand for AR and VR HMDs for gaming and entertainment applications are some of the major factors driving the market growth for consumer applications. In recent years, there has been an increase in demand for smart speakers due to the convenience provided by them. These devices can be linked to the smartphone through mobile applications and can be used to control connected household devices and appliances such as lights, refrigerators, and air conditioners. Entertainment, fitness, and gaming sectors have been the early adopters of various human augmentation technologies and have been providing growth opportunities to various market players across the value chain.

Wearable devices to account for the largest share of the human augmentation market during the forecast period

Wearable devices are expected to account for the largest share of the human augmentation market during the forecast period. The growing use of wearable devices to monitor health and fitness parameters is a major factor contributing to the market growth. Moreover, the development of miniaturized multifunctional ICs and advanced sensor technologies has facilitated the development of cost-effective wearable devices for various consumers applications. Different types of compact sensors can be integrated into wearable devices such as garments, hats, wristbands, socks, shoes, glasses, and wristwatches for continuous health monitoring.

Key Market Players
The major players in the human augmentation market are Samsung Electronics Co., Ltd. (South Korea), Google LLC (US), Ekso Bionics (US), Vuzix Corporation (US), Garmin Ltd. (US).