Brain Computer Interface Market by Type and Application- Global Opportunity Analysis and Industry Forecast, 2013 – 2020

Brain Computer Interface Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $1.46 billion by 2020, registering a CAGR of 11.5% during the period 2014-2020. A global rise in the count of brain disorders along with the increasing government funding to improve healthcare systems, would supplement the growth of this market. The non-invasive BCI technology accounted for about 85% of the total BCI market revenue in 2013, and demonstrate a steady growth in future, thus, eliminating the need to perform surgeries and implant BCI devices.

Access Full Summary at: https://www.alliedmarketresearch.com/brain-computer-interfaces-market

Geo graphically, North America holds a major share in the BCI technology market due to high penetration of such technologies in this region. APAC is also a major contributor primarily to the vast computer gaming industry. The European region constitutes the third largest market and is expected to grow at a relatively higher CAGR during the forecast period. The European Commission is taking active measures for the population with motor disabilities.

Brain Computer Interface Market Key Segmentation
By Type
•Invasive
•Non-invasive
•Partially invasive

By Application
•Healthcare
•Communication and control
•Entertainment and gaming
•Smart home control
•Others

Request for Sample Copy: https://www.alliedmarketresearch.com/request-sample/505

In 2012, the EC commissionedEUR 2.3 million in support of a three year project for the well-being of population suffering from motor disabilities. The technology enjoys highest adoption in the healthcare sector followed by the gaming industry. An increase in the number of game developing companies, implementing BCI technologies to improve the overall gaming experience, would further enhance the adoption of BCI technologies. The application of BCI technology is also underway in the smart homes control industry and would witness incremental growth during the forecast period of 2014-2020.

Key findings of Brain Computer Interface Market:
•The Global market for BCI would exhibit a steady growth owing to its increased adoption across key sectors such as healthcare and the gaming industry, during the forecast period (2014 - 2020)
•The Invasive BCI technology market would grow at the fastest CAGR of 15.3% during 2014-2020
•Swift growth is expected in the smart home control applications segment due to high living standards in the North American region, especially across U.S. and Canada
•The Asia-Pacific market would foresee tremendous growth for BCI technology systems

The growth is also attributed to the stiff competition amongst the prominent market players leading to swift technological advances in the BCI systems. Players such as Emotiv, Inc., Advanced Brain Monitoring Inc. and Nihon Kohden Corporation are adopting a consistent development process of innovative products to penetrate the market and further enhance the overall revenues.

Key Players:
•Nihon Kohden Corporation
•Mind Solutions Inc.
•Advanced Brain Monitoring, Inc.
•Quantum Applied Science and Research, Inc.
•Cadwell Laboratories Inc.
•OpenBCI
•Cortech Solutions, Inc.
•NeuroSky, Inc.
•Emotiv, Inc.
•Guger Technologies OEG

Request for Customization: https://www.alliedmarketresearch.com/request-for-customization/505

Numerous technological developments in the field of computation, human sensing, along with the application of brain computer interface technology for entertainment, gaming, communication, and control, are some of the major factors that drive the growth of the brain computer interface market size. Intensive research carried out to develop a cure for paralyzing brain disorders and injuries is likely to boost the brain computer interface market. However, the ethical problem faced during the research, i.e. use of brain computer interface on patients whose informed consent cannot be obtained, can act as a restraint for the brain computer interface industry.

About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1⟨855⟩550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com

This release was published on openPR.