Brain-Computer Interface Market Set to Soar Past USD 6.18 Billion by 2030 | Skyquest Technology
The Brain-Computer Interface (BCI) market is poised for growth from 2023 to 2030, offering Invasive, Partially Invasive, and Non-invasive BCIs. These BCIs find applications in Healthcare, disability restoration, Brain Function Repair, Smart Home Control, Communication and control, and Entertainment and gaming. The market serves Medical, Military, and other end-use sectors, promising innovation and expansion in this transformative industry.
Westford USA, Jan. 19, 2024 (GLOBE NEWSWIRE) -- The global Brain Computer Interface market size is expected to reach USD 6.18 billion by 2030 and exhibit a CAGR of 17.16% in the forecast period (2023−2030), according to Skyquest's latest research report. The growing interest and investment in neurotechnology for medical applications such as assistive devices for individuals with disabilities and neurological disorders, advancements in brain imaging and neuroscience research that enable improved BCI technology, the potential for BCIs to enhance human-computer interactions and communication, the increasing demand for non-invasive and wearable BCI solutions, and the emergence of brain-controlled prosthetics and neurorehabilitation therapies that offer new possibilities for patients with motor and cognitive impairments are fueling the market's growth.
According to SkyQuest's latest global research of the Brain Computer Interface market, increasing adoption of non-invasive BCIs for consumer applications such as gaming and entertainment, the development of implantable BCIs for medical purposes, the integration of artificial intelligence (AI) and machine learning algorithms to enhance BCI performance, the focus on improving BCI accuracy and reliability, the exploration of BCIs for mental health applications and cognitive enhancement, and the collaboration between neuroscientists, engineers, and tech companies to advance BCI research and development are the trends that aid in the market's growth.
*Browse in-depth TOC on "Brain Computer Interface Market" *
· Pages - 157
· Tables - 93
· Figures -76
A brain-computer interface (BCI) is a system that allows a user to control an external device or computer using brain signals. BCIs are still in the early stages of development, but they have the potential to revolutionize the way we interact with the world around us.
*Prominent Players in Brain Computer Interface Market*
· BrainGate
· Blackrock Microsystems
· Neuralink
· OpenBCI
· Kernel
· MindGate
· NeuroSky
· Neuroelectrics
· ANT Neuro
· g.tec medical engineering
· Interaxon
· Soterix Medical
· Synchron
· Paradromics
· Neural Inc.
· ReWalk Robotics
· Ambu
· TMSi
· Neuro Stim
· Neuropace
· Empatica
· MyndTec
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*Report Scope & Segmentation*:
*Attributes*
*Details*
Forecast Period
2023-2030
Market Size in 2022
1.78 Billion
2030 Value Projection
6.18 Billion
CAGR 17.16%
Segments Covered
· Product
Invasive BCI, Partially Invasive BCI, and Non-invasive BCI
· Application
Healthcare, Disabilities Restoration, Brain Function Repair, Smart Home Control, Communication & Control, and Entertainment & Gaming
· End-use
Medical, Military, and Others
Regions Covered
North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
*Non-Invasive BCI Demand to Grow Substantially in the Forecast Period*
Non-invasive BCI dominated the global online market as they are often favoured due to their non-intrusive nature. They do not require surgery or implantation, making them more accessible to a broader range of users. Advancements in electroencephalography (EEG) technology have improved the performance and accuracy of non-invasive BCIs, making them more appealing for various applications.
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*Medical BCI (Assistive Devices, Neurorehabilitation) are the Leading Application Segment *
Medical BCIs used for assistive devices, such as brain-controlled prosthetics and communication aids for individuals with disabilities, are crucial for enhancing the quality of life for users. BCIs are pivotal in neurorehabilitation therapies, helping individuals recover from stroke, spinal cord injuries, and other neurological disorders.
*North America is the leading Market Due to Technological advances *
North America, particularly the United States, is a hub for technological innovation and research. Leading BCI companies and research institutions are based in this region. The region's tech-savvy population and consumer demand for novel interfaces can drive the adoption of BCIs in gaming and entertainment.
A recent report thoroughly analyzes the major Brain Computer Interface market players. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavours to develop innovative solutions that cater to the ever-increasing demand for Brain Computer Interface.
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*Key Developments in Brain Computer Interface Market*
· NeuraMatrix, an infrastructure for brain-computer connections, concluded a CNY 100 million funding round. The initial system-on-chip was expected to go into commercial production by the conclusion of this year.
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*Key Questions Answered in Brain Computer Interface Market Report*
· What specific growth drivers will impact the market during the forecast period?
· Can you list the top companies in the market and explain how they have achieved their positions of influence?
· In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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