Brain-Computer Interface Market Size – USD 1.15 Billion in 2018, Market Growth - CAGR of 11.1%, Industry Trends- Increase in R&D investments coupled with technological advancements

New York, July 22, 2019 (GLOBE NEWSWIRE) -- The growth of the market is governed by various factors such as increased incidences of mental disorders across various regions

The Brain-computer interface market is expected to reach USD 2.67 Billion by 2026, according to a new report by Reports and Data. Research and development in the brain-computer interface systems are developing rapidly and is focused mainly on neuroprosthetic applications. Any modification of thought process leads to the shift in electrophysiological signals, which gets recognized by the BCI system. These electrophysiological signals are converted into command signals by the BCI system which can be used for several applications such as the development of video games.

BCIs (Brain-computer interfaces) are a recovery device for tetraplegia patients that intend to enhance the quality of life by increasing communication, self‐care, and control of the environment. The neurobiology of both recovery and BCI command depends upon learning to transform the efficiency of spared neural groups that imitate sensation, movement, and thought through continuous practice with feedback and remuneration. BCI demand is projected to gain a substantial boost soon because of the rising prevalence of stroke, depression, and Parkinson’s disease among the population.

The market in the North America region accounts for the largest share of 42.3% of the market in 2018. The largest share is due to the growing population, rising occurrence of neurodegenerative disorders coupled with the increasing prevalence of virtual gaming. The growing population could be exposed to brain-related disorders that lead to critical disabilities. 

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Further key findings from the report suggest

• The Brain-computer interface market is estimated to reach USD 2.67 Billion by 2026, at a CAGR of 11.1% during the forecast period.
• Organizations dealing with BCI are adopting various strategies and developments to make their products compatible, enhanced, and innovative at the same time, involving in comprehensive research and development activities.
• BCI demand is projected to gain a substantial boost soon because of the rising prevalence of stroke, depression, and Parkinson’s disease among the population.
• The growing population could be exposed to brain-related disorders that lead to critical disabilities.
• The Invasive product is anticipated to grow at the highest rate of 11.6% during the forecast period.
• The medical end user segment accounts for the largest share of 37.8% of the market in 2018.
• Application in smart home control is anticipated to witness the highest CAGR of 11.5% during the forecast period.
• APAC is forecasted to grow at the highest CAGR of 11.6% during the forecast period.
• Various projects are being developed that operates by transforming the brain of a user into a link for the internet of things (IoT), which acts as a “plugged-in” brain to connect to the internet.
• Notable research efforts on a global scale have presented common platforms for technology regularity and help undertake highly complex and nonlinear brain dynamics and associated characteristic extraction and classification difficulties.
• In January 2015, Natus medical acquired Global Neuro-Diagnostics (GND).
• GND offers neuro-diagnostic services like complete video EEG testing used in the detection of cognitive impairments and neurological application.
• The Key players in the Brain Computer Interface Market include Cadwell Industries, Inc, Nerusky, Inc, Integra Life Sciences Corporation , Advanced Brain Monitoring,  Mind Technologies Inc, ANT Neuro B.V, Nihon Kohden Corporation, Emotiv Systems, Inc, NeuroPace Inc,  Blackrock Microsystems LLC,  OpenBCI,  Artinis Medical Systems B.V, Elekta AB, Mindmaze SA

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Segments covered in the report:

For the purpose of this study, Reports and Data have segmented the market on the basis of Product, End user, Application and region:                      

Product Outlook (Revenue, USD Million; 2018-2026)

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

End user Outlook (Revenue, USD Million; 2018-2026)

• Medical
• Military
• Others

Application Outlook (Revenue, USD Million; 2018-2026)

• Healthcare
• Smart home control
• Communication
• Entertainment & gaming

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Regional Outlook (Revenue, USD Billion ; 2018-2026)

• North America
  • U.S.
• Europe
  • France
  • UK
• Asia Pacific
  • China
  • India
  • Japan
• Latin America
  • Brazil
• Middle East and Africa

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