Global Brain Computer Interface Market Size, Share, Opportunities, And Trends By Type (Invasive Brain Computer Interface, Partially Brain Computer Interface, Non-Invasive Brain Computer Interface), By End-User Industry (Healthcare, Entertainment and Gaming, Defense and Aerospace, Educational and Research Institutes, Others), And By Geography - Forecasts From 2023 To 2028

The global brain computer interface (BCI) market was valued at US$0.696 billion in 2017 and is projected to reach US$1.840 billion in 2023 exhibiting a CAGR of 17.59% during the forecast period. The market will experience escalated growth in the coming years owing to the increasing demand for advanced technologies in the field of neuroscience and information and communication technology. The sole purpose of BCI is to help people with special abilities communicate with other people as well as in external environments. Research and development in the brain-computer interface systems are increasing rapidly and it has its main focus on neuroprosthetics applications. Change in thought process leads to a change in electrophysiological signals which get detected by the BCI system. These electrophysiological signals are transformed into control signals by the BCI system which can be used for various applications such as the development of video games.

The growth of the market is fuelled by the high adoption rate among people across the globe owing to increasing accidents and casualties along with increasing fatal diseases. Huge investments and funds are being raised in different forms in the field of research and development of brain-computer interface systems. High economic growth will catalyze its market exponentially. However, it has some restraints which will restrain the market growth such as lack of skilled manpower, misuse of private and important data, and ethical issues related to the brain-computer interface systems.

Brain-computer interface market covers a wide range of end-users which include healthcare, entertainment and gaming, and educational and research institutions among others which have been explained in detail in this report. North America holds the largest share of the global brain computer interface market owing to its speedy adoption of advanced technology and huge investments in research and development. However, Asia-Pacific is projected to witness decent growth owing to the inclination towards the adoption of advanced technologies and increasing economic growth.

Competitive Landscape

Brain computer interface market is highly competitive due to the presence of well-diversified international, regional, and local players. However, some big international players dominate the market share owing to their brand image and market reach. With a high market growth rate and an increase in its demand, this sector is attracting more players to enter the market resulting in a more competitive brain computer interface market. The competitive landscape provides the strategy and investment details in order to boost their presence.

Some of the key players in the brain-computer interface market included in the report are Nihon Kohden Corporation, Advanced Brain Monitoring, Inc, ANT Neuro, Cadwell Industries, Inc, and Compumedics Limited among others.

Segmentation

The brain-computer interface market has been segmented on the basis of type, end-user industry, and geography.

• By Type

• Invasive Brain Computer Interface
• Partially Brain computer Interface
• Non-Invasive Brain computer Interface

 

• By End-User Industry

• Healthcare
• Entertainment and Gaming
• Defense and Aerospace
• Educational and Research Institutes
• Others

 

• By Geography

• North America
• South America
• Europe
• Middle East & Africa
• Asia-Pacific