Human augmentation market is anticipated to grow at a significant CAGR of 20.1% during the forecast period (2024-2031). The market growth is attributed to the advancements in virtual reality (VR) and augmented reality (AR) technologies that improve training, simulation, and real-time data visualization. Users can interact with digital information and objects in ways that enhance their experiences and skills, whether in the workplace, healthcare, or education. The increasing applications and adoption of human augmentation technologies are promoting global industry growth. According to great.gov.uk, from 2019 to 2024, it is expected there will be a 78.3% growth rate for spending on AR and VR in the UK. Growth is predicted to reach £62.5 billion by 2030.

Market Dynamics

Growing Adoption of AR/VR Technology and Wearable Devices

The ongoing development of technologies such as virtual reality (VR) and augmented reality (AR) drive the growth of the market. As more and more companies and industries realize the potential advantages of these innovative technologies, adoption is growing quickly. Consistent innovations, significant financial investments in R&D by important players, faultless connectivity, and innovative computer platforms are critical components for market success. On wearable technology, advancements in sensor technologies and artificial intelligence (AI) facilitate the detection and treatment of severe illnesses and chronic health problems in people. AR and VR technologies have the potential to significantly impact market growth in several spheres of human endeavor and industry sectors, including education, entertainment, healthcare, and the military.

Increasing Integration of AI

AI-driven programs support learning, memory, and decision-making. The prosthetics employ AI to adjust and enhance their performance in response to the user's motions and surroundings. Robotics and AI turn instruments to help augment workers get more productive at work. Instead of taking away from workers' ability to make decisions to prevent mistakes, technology is used to help workers avoid mistakes and complete their tasks. One perspective on AI/human enhancement holds that human-machine interaction is a cooperative one. It places the person in charge and concentrates on the way AI may help humans grow more capable, such as hearing, seeing, and making judgments.

Market Segmentation

• Based on the product type, the market is segmented into wearable devices, virtual reality devices, augmented reality devices, exoskeletons, and intelligent virtual assistants.

• Based on the application, the market is segmented into consumer, commercial, medical, aerospace & defense, industrial, and others (media & entertainment).

Wearable Devices Hold the Largest Market Share

The primary factors supporting the growth include the adoption of wearable devices to track fitness and health metrics. The top producers of smart wearables and technology suppliers are also concentrated on obtaining patents for their innovations, supporting different start-ups, and taking part in technology-driven mergers and acquisitions. According to the National Center for Biotechnology Information (NCBI), in June 2023, among wearable device users, more than 80.0% of patients would share information from their device with their doctor to support their health monitoring. Additionally, less than one in four adults with or at risk for cardiovascular disease uses a wearable device. Researchers also found that among adults with cardiovascular disease who use a wearable device, 38.0% use it regularly compared to almost half of other adults.

Medical Segment to Hold a Considerable Market Share

The factors supporting segment growth include rapid advancements in technology that are making patient care better. In the medical field, human augmentation is essential as it gives people access to virtual health support, accurate cancer diagnosis, early detection of deadly blood diseases, assistance in treating uncommon diseases, robot-assisted surgeries, medical record management, reduced dosage errors, automated redundant healthcare tasks, fraud detection, automatic image diagnosis, new medication development, and more. Market players offer advanced human augmentation technology with advanced AI to enhance human abilities. For instance, in October 2022, KYOCERA introduced new human augmentation technology prototypes in Japan with advanced AI to enhance human abilities. Human augmentation uses advanced AI and other technologies to enable new experiences and skills by complementing and improving human abilities. The systems are meant to enhance human perception, cognition, and motor skills as well as improve human presence and interaction

Regional Outlook

The global human augmentation market is segmented based on geography including Europe (the UK, Italy, Spain, Germany, France, and the Rest of Europe), North America (the US, and Canada), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).   

Global Human Augmentation Market Growth by Region 2024-2031

North America Holds Major Market Share

The regional market growth is attributed to the higher investment in the development of human augmentation technology. The rate of adoption is increasing rapidly as many companies and industries realize the potential advantages of these innovative technologies. AR and VR technologies have great promise for transforming market expansion across several domains of human existence and industry sectors, including but not limited to healthcare, education, entertainment, and the military. Additionally, collaboration helps people and clients realize the augmented productivity and new growth opportunities associated with generative AI, doing so in a responsible way while driving the right results. For instance, in April 2023, PwC US announced plans to invest $1.0 billion over the next three years to expand and scale its AI offerings and help clients reimagine their businesses through the power of generative AI. The investment builds on PwC's long-standing commitment to AI, strengthening its ability to deliver human-led and tech-powered solutions and to build trust and drive sustained outcomes in line with its global strategy.

Market Players Outlook

*Note: Major Players Sorted in No Particular Order.

The major companies serving the human augmentation market include Apple Inc., Google LLC, Meta Platforms Inc., Microsoft Corp., and Sony Corp. among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers, and acquisitions to stay competitive in the market.

The Report Covers

• Market value data analysis of 2023 and forecast to 2031.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global human augmentation market. Based on the availability of data, information related to new products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.