Brain Computer Interface Market Size Boosting The Growth Worldwide | Nihon Kohden Corporation, Mind Solutions, Advanced Brain Monitoring,

Brain computer interface is also referred to as direct neural interface, synthetic telepathy interface, brain machine interface or mind machine interface. Brain computer interface (BCI) is a system that facilitates a direct communication channel between the brain and the peripheral devices, which are used to calibrate the movement in physically challenged individuals.

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Governmental organizations are boosting their maintenance budgets for system infrastructure while simultaneously funding initiatives for project development, modernization, and enhancement. As a result of the investments' success, ICT vendors now annually set aside funding for the growth of the online market. Global ICT exports are anticipated to increase 3.9% on average year from US$ 784.3 billion in 2021 to US$ 955.19 billion in 2030. Global supply has increased by 9.5% yearly since 2009. In terms of global ICT exports in 2021, Ireland came in first place with US$ 169. 32 billion. The rankings placed China at number 4, the United States at number 2, and India at number 3. Since 2009, Brunei has increased by 228.2% year over year, while Sierra Leone has decreased by 61.7% year over year.

By 2026, European ICT Revenue is likely to increase by 1.5% annually, from US$ 1,802,413 Million in 2021 to US$ 1,933,429 Million. The European market has increased by 3.1% annually since 2016. In terms of ICT Revenue in Europe in 2021, Germany came in first place with US$ 339,074 million. Positions 2, 3, and 4 in this ranking were held by the United Kingdom, France, and Ireland, respectively. Since 2016, Malta has increased by 16.5% year over year, while Italy has decreased by 0.2%.

A BCI system records the brain signals from the surface of the cortex, from devices implanted within the brain or from the sensors placed over the scalp. These signals are then transmitted to the peripheral device that enables the user to perform numerous tasks. With the help of a BCI system, the paralyzed and handicapped individuals can overcome their physical challenges and perform various day-to-day tasks. The primary function of the BCI device is to intercept the electrical signals that pass between the neurons and transmit them to an external device. Technological developments in the field of computation, human sensing, entertainment, gaming, and communication and control, is a major factor that will drive the BCI market.

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Intensive research carried out to develop a cure for fatal brain disorders and injuries, and the rising number of government funding with a view to encourage BCI research studies are likely to boost the market. However, the ethical problem faced during the research i.e., to use BCI to treat patients whose informed consent cannot be obtained, can act as a restraint for the BCI market. In most of the cases, it is not possible to define or restrict the amount of information that can be retrieved from the patient. BCI is comparatively a na?ve technology and many of its applications are yet to be commercialized and are a part of laboratory research.

The brain computer interface market is segmented based on type, application and geography. The type segment includes invasive BCI, non-invasive BCI and partially invasive BCI technology. Based on the analysis and forecast, the non-invasive BCI technology segment is expected to lead the market from 2014 to 2020. On the basis of application, the global BCI market is segmented into communication and control, healthcare, smart home control, gaming and entertainment and others. The healthcare application of BCI technology is forecasted to be the largest market followed by the gaming and entertainment segment.

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KEY BENEFITS

The study provides an in-depth analysis of the brain computer interface market with current and future trends to elucidate the imminent investment pockets in the market
Current and future trends are outlined to determine the overall attractiveness and single out profitable trends to gain a stronger foothold in the market
The report provides information regarding key drivers, restraints and opportunities with impact analysis
Quantitative analysis of the current market and estimations through 2013-2020 are provided to showcase the financial appetency of the market
Porter's five forces model and a SWOT analysis of the industry illustrate the potency of the buyers and suppliers participating in the market
Value chain analysis in the report provides a clear understanding on the roles of stakeholders involved in the value chain

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

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KEY MARKET SEGMENTATION
The market is segmented on the basis of type, application and geography.

MARKET BY TYPE

Invasive
Non-invasive
Partially invasive

MARKET BY APPLICATION

Healthcare
Communication and control
Gaming and entertainment
Smart home control
Others

MARKET BY GEOGRAPHY

North America
Europe
Asia-Pacific
LAMEA

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