Brain Computer Interface Market Reach USD 5.46 Billion by 2030, Top Key Players, Growth and Trends

According to the report published by Allied Market Research, The Brain Computer Interface Market Reach USD 5.46 Billion by 2030, Top Key Players, Growth and Trends. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.

Increase in the demand of contact less operation between human and machine for physically challenged people and advancement in the technology such as artificial intelligence, virtual reality and augmented reality in smart home and healthcare industry increases the demand of brain computer interface industry market during forecast period.

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The global brain computer interface market size was valued at $1,488.00 million in 2020, and is projected to reach $5,463.00 million by 2030, growing at a CAGR of 13.9% from 2021 to 2030.

The brain computer interface market is segmented on the basis of component, type, application and region. The component segment is bifurcated into, Hardware and software segment, The type segment includes invasive BCI, non-invasive BCI and partially invasive BCI. According to application, the BCI market is segmented into communication & control, healthcare, smart home control, entertainment & gaming, and others. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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COVID-19 Scenario:

➢ During the COVID-19 pandemic, organizations that already deployed brain computer interface earlier have been able to quickly adjust to the new variant of virus. The lesser contact between humans and machines have helped them achieve their business goals irrespective of the unprecedented circumstances.

➢ Also, people have started investing more money and time in personal technology such as smart wearables, which in turn boosted the global brain computer interface market.

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Based on application, the healthcare segment held the highest share in 2020, garnering more than half of the global market. The smart home control segment, on the other hand, would manifest the fastest CAGR of 19.0% from 2021 to 2030.

Based on type, the non-invasive segment accounted for more than three-fourths of the total market revenue in 2020 and is expected to retain its dominance by 2030. The invasive segment, however, would register the fastest CAGR of 18.1% throughout the forecast period.

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Based on region, North America contributed to nearly two-fifths of the total market share in 2020, and is expected to dominate by 2030. The marker across Asia-Pacific, on the other hand, would cite the fastest CAGR of 16.1% during the forecast period. The other provinces studied in the report include Europe and LAMEA.

The key market players analyzed in the global brain computer interface market report include Nihon Kohden Corporation, Cadwell Laboratories Inc., Integra LifeSciences, OpenBCI, Advanced Brain Monitoring, Inc., Cortech Solutions, Inc., NeuroSky, Inc., Emotiv, Inc., and Guger Technologies Natus Medical Incorporated. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.

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