According to the latest report by IMARC Group, titled "Brain Computer Interface Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global brain computer interface market size reached US$ 1.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 3.3 Billion by 2027, exhibiting a growth rate (CAGR) of 14.2% during 2022-2027.
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| BCI Industry Report 2022-2027 |
Market Outlook:
A brain-computer interface (BCI) assists in supplementing, replacing, enhancing, restoring, and improving the functions of the central nervous system (CNS). It is used for acquiring, translating, and analyzing brain signals into commands using an artificial output device. BCI restores or replaces useful functions of patients suffering from neuromuscular disorders, such as amyotrophic lateral sclerosis, cerebral palsy, or spinal cord injury. The interface is also used for rehabilitation after stroke or other disorders. As a result, it is used extensively to control and communicate with patients with locked-in syndrome (LIS) or severe paralysis.
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Market Trends:
The increasing prevalence of neurodegenerative disorders, including Alzheimer's, epilepsy, and Parkinson's disease, represents one of the key factors primarily driving the market growth. Apart from this, BCI finds applications in controlling smart home applications and activities, such as opening and closing doors and windows, which is acting as a growth-inducing factor. Additionally, the interface is witnessing extensive demand across the military and defense sectors due to its high accuracy and reliability and improved security monitoring, which is creating a positive outlook for the market. Besides this, the burgeoning investments in research and development (R&D) activities by key players, the increasing geriatric population, and rapid technological advancements are some factors bolstering global market growth.
Competitive Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the global brain computer interface market has been studied in the report with the detailed profiles of the key players operating in the market.
Major Players Covered:
• Advanced Brain Monitoring Inc.
• ANT Neuro
• Compumedics Limited
• EMOTIV
• Medtronic plc
• Natus Medical Incorporated
• NeuroSky Inc.
• Nihon Kohden Corporation
• NIRx Medical Technologies LLC
Report Segmentation:
Analysis by Product:
- Invasive BCI
- Partially invasive BCI
- Non-invasive BCI
Analysis by Application:
- Healthcare
- Smart Home Control
- Communication and Control
- Entertainment and Gaming
Geographical Analysis:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa
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Key Highlights of the Report:
• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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