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North America is expected to dominate the global human augmentation industry in the forecast period. The Asia Pacific region is projected to emerge as one of the fastest-growing regions for human augmentation. This can be attributed to the strong technological manufacturing base in Japan. India and China are also expected to contribute to the regional market, owing to the large population, internet penetration, and improving economic conditions. Further, manufacturers are focussing on rapid product launches to prosper in the highly competitive market. The human augmentation industry has witnessed an increasing number of mergers and acquisitions between various health care IT companies.
In 2020, Vuzix Corporation (NASDAQ: VUZI), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, announced that the Company’s M400 Smart Glasses are being employed by the University of Rochester Medical Centre surgeons for training and the education of patients. In 2020, Samsung Electronics Co Ltd. (KRX: 005930) announced that the company obtained ISO 13482 (Robots and robotic devices — Safety requirements for personal care robots) certification for its assistive personal care robot GEMS (Gait Enhancing and Motivating System) Hip. In 2019, Google (NASDAQ: GOOGL) launched the Glass Enterprise Edition 2 targeted towards enterprise & industrial applications. These smart glasses are based on Android; hence they are easier and faster to deploy. Such developments in the industry are expected to boost the market growth over the forecast period.
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The major players in the global market for human augmentation are Vuzix Corporation, Google Inc., Samsung Electronics Co Ltd., Microsoft Corporation, and B-Temia Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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