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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The global brain-computer interface market is further segmented based on geography including North America, Europe, Asia-Pacific, and the Rest of the World. North America is projected to have a significant share in the brain-computer interface market attributed to the driving factors that include increasing demand for advanced brain-computer interface technologies from end-user industries such as defense & aerospace, healthcare, and education & research. Furthermore, the region’s large pool of technology companies and medical & non-medical device manufacturers drives the brain-computer interface market demand. The US has the largest market share among other North American countries due to the presence of major market players and investors in BCI technology, followed by Canada and Mexico.
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- Market Coverage
- Market number available for – 2024-2030
- Base year- 2023
- Forecast period- 2024-2030
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , 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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