Brain Computer Interface Market: Global Market Size, Industry Trends, Leading Players, Market Share and Forecast 2018-2023

Orion Market Research (OMR) recently published a market research report on Global Brain Computer Interface Market. According to OMR analysis, the global Brain Computer Interface market is expected to grow significantly during the forecast period (2018-2023). The market is segmented on the basis of component, type, application, technology, end-user and regional outlook. The report provides detailed & insightful chapters which include market overview, key findings, strategic recommendations, market estimations, market determinants, key company analysis, market insights, company profiling, market segmentation, geographical analysis, analyst insights and predictive analysis of the market.

Brain computer interface (BCI) has been creating new dimensions in the areas of healthcare and gaming. Its application in the healthcare segment has been primarily driven by increasing prevalence of brain disorders globally. For example, according to Alzheimer’s association, the number of Americans suffering from Alzheimer disease (AD) is growing rapidly. It was estimated that 5.7 million including all ages having Alzheimer’s dementia in 2018. This figure comprises 5.5 million people aged 65 and over. Nearly, two-thirds of Americans having Alzheimer’s are women. BCIs are an alternative method that enables to act and communicate with the world. It works by sending messages or commands from the brain to an external device without utilizing the normal output pathways of peripheral muscles and nerves. The most advanced stage of AD patients, who are not able to communicate verbally, can be benefitted from BCI as it allows them to convey emotions and basic thoughts such as yes or no.

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Moreover, BCI has expanded clinical applications to replace lost or to improve impaired brain function. Hence, the technology is creating new dimensions for the treatment of neurological conditions and allowing patients to communicate with the people. This, in turn, is driving the demand for BCI in healthcare applications. In addition, in 2017, Tesla CEO, Elon Musk and SpaceX has introduced a company, named Neura link to produce devices that can be implanted in the human brain. This represents their focus towards innovations in BCI for the treatment of brain disorders, which is expected to create new dimensions for the treatment of brain disorders.

Furthermore, growing demand of BCI in the gaming applications has been observed in the past duration. Microsoft, Google and Samsung are certain major companies focused on VR technology for gaming applications. These companies invested millions of dollars in the overall VR platforms. However, start-ups are also focusing on VR gaming platforms. For instance, in Aug 2017, the Boston based Start-up firm, Neurable, Inc. introduced the world’s first mind controller VR game. Its BCI technology determines brain activity by electroencephalography (EEG). In addition, it enables to translate those brain signals into specific directions under the VR environment. It is played with an HTC Vive virtual reality headset with Neurable's strap which is attached for mind-controlled gaming.

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Neurable, Inc. is eventually interested in BCI that can work across multiple platforms, however early demonstrations are based on VR gaming. The game is developed in partnership with a Madrid-based VR graphics company named studio future. Such innovations are expected to contribute towards the adoption of BCI in the gaming industry and will enable the market to grow further.

Comprehensive research methodology of Global Brain Computer Interface Market:

This report also includes detailed and extensive market overview with key analyst insights.

• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the Global BCI Market.
• Insights about market determinants which are stimulating the Global BCI Market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.

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This release was published on openPR.