Human Enhancement Market Growth Rate, Developments In Major Areas, Market Size, Dynamics, Opportunities, & Forecast With Demographic Data Till 2030

The popularity of such devices is increasing already, and, in 2018, about 116.8 million units of these consumer electronics were shipped across the globe. Moreover, the surging penetration of smartphones, improving technology, miniaturization of hardware, and increased utilization of cloud computing is also resulting in their high demand. The different applications of all these technologies include industrial, healthcare, and defense.

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The human enhancement market is set to attain a value of $271.6 billion in 2030, rising from the generated revenue of $64.8 billion in 2019, advancing at a 14.7% CAGR during the forecast period (2020–2030). the adoption of smart devices, such as fitness trackers, smart watches and bands, and smart clothing, is also expected to rise significantly in the years to come. The popularity of such devices is increasing already, and, in 2018, about 116.8 million units of these consumer electronics were shipped across the globe.

Presently, the healthcare sector is the major user of human enhancement technologies, which can be primarily ascribed to the growing popularity of wearable medical devices and increasing healthcare expenditure in a number of countries. In the coming years however, the demand for human enhancement technologies is also predicted to grow in the defense sector, which is owing to the fact that human enhancement devices provide mobility, strength, endurance, and safety to the soldiers

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In addition, the military sector is widely making use of machinery and virtual tools for training applications, in order to decrease infrastructure costs. Geographically, North America was the largest human enhancement market in 2019, which is because the region is the largest procurer of connected wearable devices, such as head-mounted displays, medical devices, and gesture control devices.Hence, the demand for human enhancement technologies is growing because of the rising geriatric population and technological advancements.