The global Brain-Computer Interface Market is anticipated to grow at a CAGR of around 14.3% during the forecast period (2024-2031). The key factors to drive the market growth include the increasing prevalence of neurological disorders such as brain diseases or impairment in countries including the US will be fuelling the growth of the brain-computer interface market. For instance, according to a recent report by the Federal Interagency Forum on Aging-Related Statistics, 35.8% of those 85 and older have moderate or severe memory impairment in the US. It is estimated that in the following region an estimated 1.2 million people aged 18 and up are diagnosed each year with adult-onset brain disease/disorders.
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Rising acquisitions, product development, collaborations among the major players in the market also propel the growth of the market. For instance, in May 2020, Huami, Amazfit’s parent company, announced a partnership with the Institute of Advanced Technology, University of Science and Technology of China to create a Brain-Computer Interface Joint Laboratory by leveraging Huami Technology’s R&D capabilities in the field of smart wearables. The lab will conduct non-invasive and invasive brain-computer interface research in areas such as sleep health, brain semantic analysis, emotion recognition, and epilepsy detection.
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Market Coverage
- Segment Covered-
o By Type
o By Components
o By Application
o By Technology
o By End-user
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- Natus Medical Inc, Ltd., Advanced Brain Monitoring, Inc, Nihon Kohden Corps., EMOTIV, Inc, NeuroSky, Inc
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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
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