Brain Computer Interface Market Seeking Excellent Growth | Nihon Kohden Corporation, Compumedics Ltd., Emotive Incorporation, g.tec medical engineering GmbH, Medtronic Plc.
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In addition to technological advancements that allow paralyzed people to communicate and move, the growing prevalence of neuroprosthetic diseases and an aging population are significant drivers of the brain-computer interface industry. Furthermore, the home management system, application of BCI technology in virtual gaming, and military communication expand the applicability of brain-computer interface systems, fuelling the market growth.
The increasing frequency of neurodegenerative diseases such as Parkinson's and Alzheimer's disease, as well as epilepsy, is estimated to boost demand for brain-computer interfaces during the estimation period. Brain-computer interface (BCI) technology is rapidly being employed in the mobile and virtual gaming sectors, with BCI being integrated into virtual reality (VR) headsets. Virtual gaming has opened up a host of new opportunities for mind-controlled headsets and gadgets, accelerating the development of brain-controlled interface technologies. Manufacturers are concentrating on the creation of BCI-enabled video games. For example, Valve intended to release games with BCI technology in March 2019. These kinds of breakthroughs are likely to drive the market for brain-controlled computer interface technologies in the future years.
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Because of their great precision and dependability, brain-computer interface devices are ideal for controlling smart home applications. In the next years, the aforementioned reasons are likely to enhance demand for brain-computer interface systems.
There are three distinct segments of the brain-computer interface industry: application, type, and geographic location. Depending on product type, this industry is divided into non-invasive, invasive, and partially invasive products. According to the market share forecasts, the non-invasive category will continue to dominate the market in 2020. The surge in acceptance of non-invasive brain-computer interface systems, which are used to operate robotic arms that benefit paralyzed persons in the healthcare business, is linked to the segment's growth. In terms of application, this market is fragmented into communication & control, smart home control, healthcare, entertainment & games, and others.
North American market dominated the market in 2019 as a result of increased research & development venture and high clinical trials on brain devices. Furthermore, growing rates of neurological diseases such as Parkinson's, Alzheimer's, and Huntington's disease are projected to drive regional market expansion. Increasing demand for immersive gaming is expected to fuel the development of technologies such as improved brain-computer interface, accelerating the region's adoption of BCI technology.
Prominent players operating in the global Brain Computer Interface market are Nihon Kohden Corporation, Compumedics Ltd., Emotive Incorporation, g.tec medical engineering GmbH, Medtronic Plc.
Segment Overview of Global Brain Computer Interface Market
Application Overview, 2019-2028 (USD Million)
Communication & Control
Smart Home Control
Entertainment & Gaming
Type Overview, 2019-2028 (USD Million)
Regional Overview, 2019-2028 (USD Million)
Rest of Europe
Rest of Asia-Pacific
Middle East and Africa
Rest of Middle East and Africa
Rest of South America
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