The worldwide Brain Computer Interface market was valued at USD 1.71 billion in 2019 and is anticipated to grow at a CAGR of 14.7% over the forecast period. Because of the rising frequency of neurodegenerative diseases, increased government R&D initiatives to enhance brain-computer interface technology, and other technical breakthroughs such as device downsizing, the brain-computer interface market is expected to rise rapidly.The worldwide Brain Computer Interface market was valued at USD 1.71 billion in 2019 and is anticipated to grow at a CAGR of 14.7% over the forecast period. Because of the rising frequency of neurodegenerative diseases, increased government R&D initiatives to enhance brain-computer interface technology, and other technical breakthroughs such as device downsizing, the brain-computer interface market is expected to rise rapidly.

The key trait predicted to boost the brain-computer interface market during the forecast period is an increased incidence of neurological disorders. According to the Parkinson's Foundation, more than 940,000 people in the U.S. are predicted to have Parkinson's disease by 2020. Furthermore, according to the foundation's research, the number of individuals living with Parkinson's disease is anticipated to increase to 1.2 million by 2030. Since 2010, the prevalence of Parkinson's disease is expected to have increased by roughly 1.8 times, underlining the need for improved care and treatment options for this patient group to reduce caregiver stress and reduce healthcare costs. As a result, the majority of these patients will eventually require ongoing care, monitoring, or assistance, which can be made easier with the use of brain-computer interface equipment.

Through signaling devices implanted within the brain or sensors placed over the scalp, a brain-computer interface system records the brain signal from the surface of the cortex. These signals are subsequently sent to the linked peripheral device, allowing the user to do a variety of activities.

On the basis of type, the global brain computer interface industry is segmented into  Invasive BCI, Non-invasive BCI and Partially Invasive BCI. On the basis of Application the market is divided into Communication & Control, Healthcare, Smart Home Control, Entertainment & Gaming, and Others.

Prominent players operating in the global Brain Computer Interface market are Nihon Kohden Corporation, Compumedics Ltd., Emotive Incorporation, g.tec medical engineering GmbH, Medtronic Plc.

Key Segments of the Global Brain Computer Interface Market

Application Overview, 2019-2028 (USD Million)

• Communication & Control
• Healthcare
• Smart Home Control
• Entertainment & Gaming
• Others

Type Overview, 2019-2028 (USD Million)

• Invasive
• Non-invasive
• Partially invasive

Regional Overview, 2019-2028 (USD Million)

North America

• U.S.
• Canada

Europe

• UK
• Germany
• France
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Rest of Asia-Pacific

Middle East and Africa

• UAE
• South Africa
• Rest of Middle East and Africa

South America

• Brazil
• Rest of South America

 

Reasons for the study

• The purpose of the study is to give an exhaustive outlook of the global Brain Computer Interface market. Benchmark yourself against the rest of the market.
• Ensure you remain competitive as innovations by existing key players to boost the market.

 

What does the report include?

• The study on the global Brain Computer Interface market includes qualitative factors such as drivers, restraints, and opportunities
• The study covers the competitive landscape of existing/prospective players in the Brain Computer Interface industry and their strategic initiatives for product development.
• The study covers a qualitative and quantitative analysis of the market segmented based on component, application, and industry vertical. Moreover, the study provides similar information for the key geographies.
• Actual market sizes and forecasts have been provided for all the above-mentioned segments.

 

Who should buy this report?

• This study is suitable for industry participants and stakeholders in the global Brain Computer Interface market. The report will benefit Every stakeholder involved in the Brain Computer Interface market.
• Managers within the Brain Computer Interface industry looking to publish recent and forecasted statistics about the global Brain Computer Interface market.
• Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of the global Brain Computer Interface market.
• Analysts, researchers, educators, strategy managers, and government institutions looking for insights into the market to determine future strategies.