Brain Computer Interface Market Size – USD 1,784.0 Million in 2021,
VANCOUVER, BC, CANADA, April 14, 2022 /EINPresswire.com/ — The Global brain-computer interface market The size is expected to reach USD 5,070.7 million in 2030 and register a CAGR of 12.3% over the forecast period, according to the latest analysis from Emergen Research. Rising R&D for innovations in treatment options for chronic problems such as sleep disorders, cerebrovascular diseases, brain disorders, and life-threatening injuries are factors that are expected to support the market revenue growth between 2022 and 2030. Increase in government projects, such as DECODER, European research that uses a brain-computer interface to identify sensitization in non-responsive patients, is expected to drive the market growth.
This Global Brain-Computer Interface Market report presents an in-depth study that majorly focuses on key players and their business stratagem, geographical scope, market segments, competitive landscape, manufacturing and pricing structures and costs. Each section of the research study is explicitly prepared to explore crucial fragments of the global Brain-Computer Interface Market.
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The competitive landscape is broadly assessed alongside company profiles of major players engaged in the Brain Computer Interface market are Mind Technologies, Inc., Medtronic, Nihon Kohden Corporation, CAS Medical Systems, Inc., Advanced Brain Monitoring, Inc. , EMOTIV, NeuroSky, G.Tec Medical Engineering GmbH, Integra LifeSciences and Cortech Solutions, Inc.
as well as new market entrants. It focuses on recent mergers and acquisitions, joint ventures, collaborations, partnerships, licensing agreements, brand promotions and product launches, among others. The report also provides details about the company overview, business expansion plans, product portfolio, manufacturing and production capacity, global market position, financial condition and business base. consumers.
The hardware segment accounted for the largest share of revenue in 2021. This is due to the increased use of BCI-related hardware and sensors in the digital industry. Majority of healthcare organizations have started integrating this technology to align all healthcare procedures, such as patient examination and operation, which increases the overall productivity of medical staff. This aspect will drive the growth of the brain-computer interface market.
The non-invasive BCI segment is expected to register the fastest revenue CAGR during the forecast period, due to the wide applicability of this technology for products such as amplifiers, headsets and gamepads, as well as the growing number of neurological disorders that contribute to the massive revenue generation in this market. Non-invasive brain-computer interface systems are considered the most secure as they are less intrusive, which is fueling the revenue growth of this segment.
Healthcare segment revenue is expected to grow at the fastest rate during the forecast period, owing to the widespread use of brain-computer interface technology in the treatment of neurological diseases and sleep disorders . BCI technology is increasingly used in the treatment of paralyzed people as well as in neuroscience research.
The medical segment is expected to grow at a faster rate in terms of revenue share in the global brain-computer interface market over the forecast period owing to the important role BCI technology plays in treating patients disabled. Patients with conditions like epilepsy, parkinsonism, paralysis, and Alzheimer’s disease can use BCI to help them get around and do activities like using wheelchairs and prostheses on their own.
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Emergen Research has segmented the global brain-computer interface market based on product, end-use, and region.
Component Type Outlook (Revenue, USD Million; 2019-2030)
Product Type Outlook (Revenue, USD Million; 2019-2030)
partially invasive BCI
Application Outlook (Revenue, USD Million; 2019-2030)
smart home control
Communications and control
Entertainment and games
End-Use Outlook (Revenue, USD Million; 2019-2030)
Education & Research
Regional Outlook (Revenue, USD Million; 2019-2030)
North America (United States) (Canada) (Mexico)
Europe (Germany) (UK) (France) (BENELUX) (Rest of Europe)
Asia-Pacific (China) (Japan) (South Korea) (Rest of APAC)
Latin America (Brazil) (rest of LATAM)
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The report focuses on current and future market growth, technological advancements, volume, raw materials, and profiles of key companies involved in the market. The report provides valuable information for stakeholders, investors, product managers, marketing executives, and other industry professionals.
Key questions answered by the report:
What is the Brain-Computer Interface market growth rate? What is the anticipated market valuation of Brain Computer Interface industry by 2028?
What are the key growth drivers and restraining factors of the Brain-Computer Interface market?
Who are the major players operating in the market? What are the main strategies adopted by these companies?
What are the key opportunities and growth prospects of the Brain-Computer Interface industry during the forecast period?
Which region is expected to show significant growth in the coming years?
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