The market for brain computer interfaces (BCIs) is anticipated to generate US$1,177.5 million by 2023. Because it is predicted to expand at a CAGR of 16.2% from 2023 to 2033, the brain computer interface (BCI) market is anticipated to reach US$ 6,079.8 million by that year.
Growing interest on controlling devices from human brain signal is the key factor contributes growth of global brain computer interface (BCI) market. Brain-Computer Interface (BCI) is a unidirectional communication system, which allow control of devices through brain signal.
Brain Computer Interface (BCI) acts as a communication channel between human brain and the computer system. Brain-computer interface (BCI) is used to transform the human brain intentions into a control signal, utilized in various applications, including healthcare, entertainment and robotics.
For example, communication system with global brain computer interface (BCI) technology, allows disabled people to interact with the external environments and communicate with other people without the need for muscular or peripheral neural activity.
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Brain Computer Interface: Market Dynamics
Increasing focus on integrating brain computer interface (BCI) technology into various healthcare application, continuous focus on developing communication technology for disabled and geriatric population, and growing interest on integrating brain computer interface (BCI) technology with various military applications, are the key factors drives the growth of global brain computer interface (BCI) market.
Rising focus on utilizing brain computer interface to control internet of things (IoT) devices, smart home applications and various virtual reality applications, accelerates the growth of the growth of global brain computer interface (BCI) market.
Additionally, continues technological advancement in bio-sensing, nanotechnology, bio-signal processing and neuro-imaging techniques, and increasing R&D investments for integrating brain computer interface (BCI) technology with real-life applications, are the factors expected to fuel the growth of global brain computer interface (BCI) market.
Brain Computer Interface: Regional Outlook
North America brain computer interface (BCI) market is expected to dominate the market, due increasing investment for developing advanced healthcare solution, and increasing R & D initiatives from educational sector, and expanding research laboratories focused on brain computer interface (BCI) development.
Asia pacific brain computer interface (BCI) market is identified as the fastest growing market, due to continuous focus on sensor based technologies and continuous adaptation to advanced healthcare solution.
Brain Computer Interface: Competition Landscape
Some of the prominent vendors in the global brain computer interface (BCI) market are, Mind Solutions Inc, EMOTIV Inc., NIHON KOHDEN CORPORATION, ANT Neuro, Advanced Brain Monitoring, Inc., Cadwell Industries, Inc., NeuroSky, G.TEC MEDICAL ENGINEERING GMBH, Natus Medical Incorporated, Artinis Medical Systems, OpenBCI, and MindMaze
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Regional analysis for Global Bare Metal Cloud Market includes
- North America
- Latin America
- Western Europ
- Eastern Europe
- Asia Pacific (excluding Japan)
- Japan
- Middle East and Africa
Brain Computer Interface: Segmentation
The global brain computer interface (BCI) market can be segmented on the basis of component, type, technology, application and by region
On the basis of component, the global brain computer interface (BCI) market can be segmented into
- Hardware
- Software
On the basis of type, the global brain computer interface (BCI) market can be segmented into
- Invasive BCI
- Non-invasive BCI
- Partially Invasive BCI
On the basis of technology, the global brain computer interface (BCI) market can be segmented into
- Electroencephalography (EEG)
- Magneto encephalography (MEG)
- Electrocorticography (ECoG)
- Intracortical Neuron Recording
- Functional Magnetic Resonance Imaging (fMRI)
- Near Infrared Spectroscopy (NIRS)
On the basis of applications, the global brain computer interface (BCI) market can be segmented into
- Medical & Healthcare applications
- Entertainment
- Education & Research
- Defence & Aerospace
- Home Automation
- Other (Robotics…etc.)
Regionally, the global brain computer interface (BCI) market is segmented into
- North America
- Latin America
- Western Europe
- Eastern Europe
- Middle East & Africa (MEA)
- Asia Pacific excluding Japan (APEJ)
- Japan
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