Brain-Computer Interface Market 2023 Driving Factors Forecast Research 2029

The global brain computer interface market is anticipated to grow at a CAGR of around 14.3% during the forecast period. Brain-Computer Interface also known as the brain-machine interface, neural-control interface (NCI), mind-machine interface (MMI), is an interactive platform between the brain and the external device. A brain-computer interface system records brain signals from the cortex's surface using signalling devices implanted within the brain or sensors placed on the scalp. The factors driving the brain-computer interface market include the rising prevalence of neuroprosthetic conditions, advancements in technological developments assisting paralytic patients with communication and movement. Additionally, increasing applications of BCI technology in virtual gaming, military communications, and home control systems are also fueling the growth of the market. However, the ethical challenges associated with connecting brains to computers are the significant factors restraining the growth of the market.

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COVID-19 will have a significant impact on the market in the short term due to the global supply chain has been disrupted and manufacturing facilities have been completely shut down. However, it has accelerated digitization and provided a much-needed boost to global technology adoption. The current COVID-19 outbreak has served as a stepping stone for the widespread adoption of brain-computer interface (BCI) technology in the treatment of many elderly patients with visual disabilities to improve patients' quality of life. These technologies are useful in a variety of industries, including education, healthcare, defense and aerospace, and others. BCI can be used as an assistive technology to regulate brain activity and transform specific signal features that reflect the elderly patient's intent into commands, allowing them to improve their memory and sensory abilities during COVID-19, making it a promising tool for physical therapy. These factors may result in a positive impact on the market, fueling the growth of the brain-computer interface market during and after the COVID-19 pandemic.

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• Market Coverage
• Market number available for - 2023-2029
• Base year- 2022
• Forecast period- 2023-2029
• Segment Covered- By Source, By Product Type, By Applications
• Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
• Inc., and others

Global Brain-Computer Interface Market Report Segment
By Components
• Hardware
• Software

BY Type
• Invasive (BCI)
• Partially Invasive (BCI)
• Non-Invasive (BCI)

By Application
• Medical
• Smart Home Control
• Gaming & Virtual Reality
• Communication And Control

By Technology
• Electro-Encephalography (EAG)
• Magneto- Encephalography (MEG)
• Electrocorticography (ECOG)
• Functional Magnetic Resonance Imaging (FMRI)
• Others (Near Infrared Spectroscopy and Neuro Recording)
By End-User
• Healthcare
• Educational & Research
• Defense & Aerospace

Global Brain-Computer Interface Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World

The Report Covers
• Market value data analysis of 2020 and forecast to 2027.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global Brain-Computer Interface market
• Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market entry and market expansion strategies.
• Competitive strategies by identifying 'who-stands-where in the market.

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