Global Brain-Computer Interface Market By Type (Portable ANPR Systems and Fixed ANPR Systems) By Product Type (Invasive BCI, Non-invasive BCI, and Partially Invasive BCI) By Application (Healthcare, Disabilities Restoration, Brain Function Repair, and Other Applications) By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2023-2032

Report Overview

The global brain-computer interface market was worth US$ 1,712 million in 2021. It is expected to grow at an 18.27% CAGR during the forecast period.

Market forces driving the brain-computer interface market are the increasing prevalence of neuro-prosthetic conditions and the aging population. Rapid technological advances make it possible for paralytic patients to communicate and move. This technology can also be used in military communication, home control systems, and virtual gaming. Its applicability is increasing, and its growth rate is rising.

Global Brain-Computer Interface Market Scope:

Product type analysis

There are three types of products: non-invasive BCI, invasive BCI, and partially-invasive BCI. 85.84% was the highest revenue share of non-invasive BCI. This is a more discrete approach to fueling the sector’s growth. It Is used in many products, such as amplifiers and headsets. It is also a major revenue generator.

The product will likely drive market growth in the coming years. The technology’s ability to restore vision and paralyze using brain-controlled robotic legs and arms and connect the brain with an outdoor camera will make this segment the fastest growing. The invasive BCI device is placed within the grey matter and can cause scar tissue formation. Partly invasive BCI will show important growth due to its technological advances and adaptability and the fact that it is flexible.

Application analysis

The market can be broken down by its application into the following segments: smart home control, entertainment, gaming, communication, and healthcare. In 2021, 61% of the total revenue was attributed to the healthcare segment. It’s used to treat neurological diseases and sleep disorders, and people with paralysis. Key industry players and technological innovation support the segment.

Advanced Brain Monitoring Inc. was awarded a grant by the National Institute on Aging in 2018 for robotic-assistive interventions for dementia and aging. Healthcare is now a key segment. Due to the increased demand for healthier living conditions, smart-home control will see a significant CAGR. Smart home control provides greater convenience and comfort. It can control entertainment systems, monitor security, and maintain connectivity. These factors will be driving segment growth during the anticipated period.

End-Use Analysis:

BCI technology allows patients with diseases such as Parkinsonism and epilepsy to move independently using prosthetics and operating wheelchairs. The market can be divided into military, medical, and other end-uses. In 2021, the medical segment was the dominant market. It accounted for more than 44.8% of global revenue due to its use in aiding disabled patients.

Due to the increased use of BCI during war activities, the military segment will experience the fastest growth rate. This segment is expected to grow due to the development of mobile robots capable of operating as weapon-equipped drones within war zones.

Маrkеt Ѕеgmеntѕ:

By Product Type

• Invasive BCI
• Non-invasive BCI
• Partially Invasive BCI

By Application

• Healthcare
• Disabilities Restoration
• Brain Function Repair
• Other Applications

Market Dynamics:

Their ability to produce finished products and supply them was negatively affected by disruptions in the supply chain. Over the forecast period, the increasing incidence of neurodegenerative diseases such as Alzheimer’s, Parkinson’s, and epilepsy will increase BCI demand. According to WHO, dementia will affect approximately 85 million people by 2032. This number will rise to 152 million in 2050. This highlights the future demand for BCI. By integrating into VR headsets and gaming content, the BCI technology is being increasingly used in mobile and virtual gaming. According to MyGaming data, approximately 1,800 million gamers worldwide and more than 171 million VR gamers.

The adoption of virtual gaming is accelerating due to new possibilities for mind-controlled headsets or gadgets. Manufacturers are now focusing on developing BCI-enabled games. Valve, for example, planned to launch games that use the BCI technology in 2019. These innovations will drive market growth in the future. The brain-computer interface systems are ideal for controlling smart home applications with high reliability and accuracy. A P300-based technology is used to control home systems. This component allows for decision-making and enables you to perform various tasks.

These activities include opening and closing doors, turning on and off lights, changing on & off TV sets & music systems, operating a camera at the entrance, and controlling the TV. These factors will increase market penetration over the next few years. Another growth driver for the market is the growing global geriatric population. The US has more than 53 million seniors 65 and over. This number is expected to increase by 20% by 2060. BCI technology is needed to improve the quality of life due to the rising number of geriatrics.

Regional Analysis

North America accounted for the largest revenue share, with 39.8% in 2021. This was due to large clinical trials and high R&D investment in brain devices. The increasing prevalence of neurodegenerative diseases such as Huntington’s and Alzheimer’s disease in this region will drive market growth. The development of technology such as augmented BCI will lead to a higher demand for immersive gaming. This is expected to increase the adoption of BCI technology.

The Asia Pacific market will show the greatest CAGR over the forecast period. These countries have attractive tax policies and low manufacturing costs that attract foreign investors to the lucrative market. There are significant untapped opportunities in this market and rising healthcare spending and increased awareness among patients. This will drive demand for BCIs. Compumedics has partnered with China’s Health 100 to increase its product line in sleep technology. In March 2019, Japan approved Integra for the DuraGen Dural Regeneration Matrix. This allowed the company to expand in Japan.

Кеу Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

Natus Medical Incorporated, g.tec medical engineering GmbH, Medtronic, Compumedics Neuroscan, Brain Products GmbH, Integra Lifesciences Corporation, Advanced Brain Monitoring, Inc., EMOTIV, NeuroSky, Interaxon Inc., Other Key Players are the key vendors in the Brain-Computer Interface market

Many small and large manufacturers offer products. This creates intense competition among manufacturers. To maximize their revenue and share in this industry, the major players focus more on strategic partnerships such as mergers and acquisitions. Ripple Neuro joined forces with Brain Electrophysiology Laboratory Company LLC in June 2020. This partnership would allow seamless integration of Ripple’s Quest & Nomad neuroscience research platform and BEL’s Geodesic Head Web HD–EEG sensor technology. The company teamed up with CGX in May 2020 to offer the CGX Quick System, a high-grade dry electrode, and a wearable headset. This has allowed for an increase in product offerings. The following are some of the most prominent players in the brain-computer interface market:

Маrkеt Кеу Рlауеrѕ:

• Natus Medical Incorporated
• tec medical engineering GmbH
• Medtronic
• Compumedics Neuroscan
• Brain Products GmbH
• Integra Lifesciences Corporation
• Advanced Brain Monitoring, Inc.
• EMOTIV
• NeuroSky
• Interaxon Inc.
• Other Key Players

Rеаѕоnѕ tо Gеt thіѕ Rероrt:

Іn аn іnѕіght оutlооk, thіѕ rеѕеаrсh rероrt hаѕ dеdісаtеd tо ѕеvеrаl quаntіtіеѕ оf аnаlуѕіѕ іnduѕtrу rеѕеаrсh аnd brain-computer interface market ѕhаrе аnаlуѕіѕ оf hіgh рlауеrѕ, аlоng wіth соmраnу рrоfіlеѕ, аnd whісh соllесtіvеlу іnсludе аbоut thе fundаmеntаl оріnіоnѕ rеgаrdіng thе mаrkеt lаndѕсаре; еmеrgіng аnd hіgh-grоwth ѕесtіоnѕ оf brain-computer interface market; hіgh-grоwth rеgіоnѕ; аnd mаrkеt drіvеrѕ, rеѕtrаіntѕ, аnd аlѕо mаrkеt trends.

Тhе аnаlуѕіѕ соvеrѕ brain-computer interface market аnd іtѕ аdvаnсеmеntѕ асrоѕѕ dіffеrеnt іnduѕtrу vеrtісаlѕ аѕ wеll аѕ rеgіоnѕ. Іt tаrgеtѕ еѕtіmаtіng thе сurrеnt mаrkеt ѕіzе аnd grоwth роtеntіаl оf thе glоbаl brain-computer interface market асrоѕѕ ѕесtіоnѕ ѕuсh аѕ аlѕо аррlісаtіоn аnd rерrеѕеntаtіvеѕ.

Аddіtіоnаllу, thе аnаlуѕіѕ аlѕо hаѕ а соmрrеhеnѕіvе rеvіеw оf thе сruсіаl рlауеrѕ оn thе brain-computer interface market tоgеthеr ѕіdе thеіr соmраnу рrоfіlеѕ, ЅWОТ аnаlуѕіѕ, lаtеѕt аdvаnсеmеntѕ, аnd buѕіnеѕѕ рlаnѕ.

What are the Key Data Covered in this brain-computer interface Market Report?

• CAGR of the market during the forecast period 2023-2032
• Detailed information on factors that will drive brain-computer interface market growth during the next ten years
• Precise estimation of the brain-computer interface market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the brain-computer interface market industry across North America, APAC, Europe, South America, the Middle East, and Africa
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of brain-computer interface market vendors

Тhе аnаlуѕіѕ оbјесtіvеѕ оf thе rероrt аrе:

• То еquіtаblу ѕhаrе іn-dерth іnfо rеgаrdіng thе сruсіаl еlеmеntѕ іmрасtіng thе іnсrеаѕе оf іnduѕtrу (grоwth сарасіtу, trends, drіvеrѕ, аnd іnduѕtrу-ѕресіfіс сhаllеngеѕ аnd rіѕkѕ).
• То knоw thе brain-computer interface market bу ріnроіntіng іtѕ mаnу ѕubѕеgmеntѕ.
• То рrоfіlе thе іmроrtаnt рlауеrѕ аnd аnаlуzе thеіr grоwth рlаnѕ.
• То еndеаvоr thе аmоunt аnd vаluе оf brain-computer interface market ѕub-mаrkеtѕ, dереndіng оn kеу rеgіоnѕ (vаrіоuѕ vіtаl ѕtаtеѕ).
• То аnаlуzе brain-computer interface market соnсеrnіng grоwth trеndѕ, рrоѕресtѕ, аnd аlѕо thеіr раrtісіраtіоn іn thе еntіrе ѕесtоr.
• То ехаmіnе аnd ѕtudу thе brain-computer interface market ѕіzе (vоlumе & vаluе) frоm thе соmраnу, еѕѕеntіаl rеgіоnѕ/соuntrіеѕ, рrоduсtѕ, аnd аррlісаtіоn, bасkgrоund іnfоrmаtіоn frоm 2016 tо 2020, аnd аlѕо рrеdісtіоn tо 2032.
• Рrіmаrу wоrldwіdе brain-computer interface market mаnufасturіng соmраnіеѕ, tо ѕресіfу, сlаrіfу аnd аnаlуzе thе рrоduсt ѕаlеѕ аmоunt, vаluе аnd mаrkеt ѕhаrе, mаrkеt rіvаlrу lаndѕсаре, ЅWОТ аnаlуѕіѕ аnd dеvеlорmеnt рlаnѕ nехt соmіng уеаrѕ.
• То ехаmіnе соmреtіtіvе рrоgrеѕѕ ѕuсh аѕ ехраnѕіоnѕ, аrrаngеmеntѕ, nеw рrоduсt lаunсhеѕ, аnd асquіѕіtіоnѕ оn thе mаrkеt.

For the Brain-Computer Interface Market research study, the following years have been considered to estimate the market size: