The Brain-computer interface market is expected to reach USD 2.67 Billion by 2026, according to a new report by Reports and Data. Research and development in the brain-computer interface systems are developing rapidly and is focused mainly on neuroprosthetic applications. Any modification of thought process leads to the shift in electrophysiological signals, which gets recognized by the BCI system. These electrophysiological signals are converted into command signals by the BCI system which can be used for several applications such as the development of video games.
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The market in the North America region accounts for the largest share of 42.3% of the market in 2018. The largest share is due to the growing population, rising occurrence of neurodegenerative disorders coupled with the increasing prevalence of virtual gaming. The growing population could be exposed to brain-related disorders that lead to critical disabilities.
The Leading Companies in the Brain-Computer Interface market included in the report are as given below (evaluated on the basis of Revenue, Price, Gross Margin, Product offerings, etc.):
Cadwell Industries, Inc, Nerusky, Inc, Integra Life Sciences Corporation , Advanced Brain Monitoring, Mind Technologies Inc, ANT Neuro B.V, Nihon Kohden Corporation, Emotiv Systems, Inc, NeuroPace Inc, Blackrock Microsystems LLC, OpenBCI, Artinis Medical Systems B.V, Elekta AB, Mindmaze SA
The research segments the market based on product type, applications and end-use. It profiles the key players of the business and their individual contribution to the global economy. The report focuses on significant investments, business ventures, mergers, acquisitions, collaborations along with the technological developments in the field. It also evaluates the upcoming and niche areas in the business. The researcher aims to offer expert insights related to the industry and the new opportunities available in the market.
Scope of the Report:
The study aims to provide a forecast of the growth of the Brain-Computer Interface market by examining the market size, share, demand, trends, and gross revenue of the industry. Further, it provides a competitive analysis and SWOT analysis. The report segments the industry based on product type, application and end-use. It highlights the emerging trends as well as the novel technology that are visible in the market. The research offers a clear look at the trends observed in the market, the contributing factors, major stakeholders, key companies and prime areas that exhibit a potential for growth.
For the purpose of this study, Reports and Data have segmented the market on the basis of Product, End user, Application and region:
Product Outlook (Revenue, USD Million; 2018-2026)
- Non-invasive BCI
- Invasive BCI
- Partially BCI
- Others
End user Outlook (Revenue, USD Million; 2018-2026)
- Medical
- Military
- Others
Application Outlook (Revenue, USD Million; 2018-2026)
- Healthcare
- Smart home control
- Communication
- Entertainment & gaming
Brain-Computer Interface Market Report 2019 forecast to 2026 Market Segment by Regions:
- North America (USA, Canada, and Mexico)
- Europe (Germany, France, UK, Russia, and Italy)
- Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
- South America (Brazil, Argentina, Columbia, etc.)
- Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
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Further key findings from the report suggest
- The Brain-computer interface market is estimated to reach USD 2.67 Billion by 2026, at a CAGR of 11.1% during the forecast period.
- Organizations dealing with BCI are adopting various strategies and developments to make their products compatible, enhanced, and innovative at the same time, involving in comprehensive research and development activities.
- BCI demand is projected to gain a substantial boost soon because of the rising prevalence of stroke, depression, and Parkinson’s disease among the population.
- The growing population could be exposed to brain-related disorders that lead to critical disabilities.
- The Invasive product is anticipated to grow at the highest rate of 11.6% during the forecast period.
- The medical end user segment accounts for the largest share of 37.8% of the market in 2018.
- Application in smart home control is anticipated to witness the highest CAGR of 11.5% during the forecast period.
The report emphasizes the following key questions
Q.1. What are the most lucrative and promising growth prospects for the market?
Q.2. Which sectors are expected to deliver a high growth rate and which industry aspects come into play in this advancement?
Q.3. Which geographies are estimated to exhibit the highest growth and the underlying causes?
Q.4. Which factors are impacting the future of the market and what are the driving factors?
Q.5. What are the hurdles and challenges curtailing the industry’s growth in the forecast period?
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