Global brain-computer interfaces (BCI) market to accelerate

New York, January 10, 2022 (GLOBE NEWSWIRE) – According to World Bank statistics, the population aged 65 and over as a proportion of the total population in the world reached 9.318% in 2020, up from 6.874% in 2000. Moreover, according to the statistical report titled “World Population Aging 2019 “released by the United Nations, said the number of people aged 65 and over globally is expected to reach 1,548.9 million by the end of 2050, up from 702.9 million in 2019, registering a growth of 120% during the period.

Kenneth Research recently added a report on “Global Brain-Computer Interfaces (BCI) Market“which includes a brief analysis of the organizations operating in the market along with the analysis of their product portfolio and growth strategies during the forecast period, i.e. 2021-2030. The The report also uses different analysis tools like SWOT analysis and PESTEL analysis among others to analyze the market.

The elderly population in the world is increasing at a significant rate and with it gives rise to concerns about the various diseases that are affecting the population group. According to the World Health Organization (WHO), the most common conditions in the elderly are cataracts, refractive errors, hearing loss, chronic obstructive pulmonary disease, diabetes, back and neck pain, and dementia, among others. Most of these diseases often cause many physical and mental complexities in the elderly, ultimately leading to poor quality of life. The brain-computer interface (BCI) helps to perform the desired action by acquiring signals from the brain. People facing physical or mental complexities and unable to perform their day to day actions can use the interface to perform the desired action. The global brain-computer interface (BCI) market registered a turnover of USD 1466.76 million in 2020 and further is expected to reach USD 4483.93 million by the end of 2030, increasing with a CAGR of 12.54% during the forecast period.

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The global brain-computer interfaces (BCI) market is segmented by region into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. Among the market of these regions, the North American market registered the highest turnover of 648.41 million USD in 2020 and further is expected to reach 1726.31 million USD by the end of 2030. In addition , the European market is expected to reap the second turnover of $ 1,618.70 million by the end of 2030, compared to a turnover of $ 506.73 million in 2020.

The global brain-computer interface (BCI) market is segmented on the basis of application in medical, gaming and entertainment, smart home control, communication and control, military and defense, education and self-regulation, etc. . Among all these segments, the medical segment recorded the highest revenue of USD 1,014.39 million in 2020 and is further expected to reach USD 3,401.06 million by the end of 2030. The segment is also expected to grow with the highest CAGR of 13.58% during the forecast period.

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On the other hand, the games and entertainment segment is expected to generate the second-largest revenue of USD 399.07 million by the end of 2030 and continue to grow with a CAGR of 12.26% during the forecast period. The medical segment is subdivided into detection and diagnosis, and rehabilitation and restoration. Among these segments, the detection and diagnostics segment is expected to generate the highest revenue by the end of 2030, and also grow with the highest CAGR of 15.07% during the forecast period.

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Some of the major industry leaders in the Global Brain-Computer Interface (BCI) Market which are included in our report are NextMind SAS, Blackrock Neurotech, Advanced Brain Monitoring, Inc., NIHON KOHDEN CORPORATION, g.tec medical engineering GmbH, Natus Medical Incorporated, Cadwell Industries Inc., OpenBCI, Inc., Cortech Solutions, Inc., NeuroSky, Inc., EMOTIV, Inc., Integra LifeSciences Corporation and others.

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