IMARC Group has recently released a new research study titled “Brain Computer Interface Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”. The global brain computer interface market size reached US$ 1.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.7 Billion by 2028, exhibiting a growth rate (CAGR) of 13.7% during 2023-2028. 

What is brain-computer interface (BCI)?

A brain-computer interface (BCI) assists in supplementing, replacing, enhancing, restoring, and improving the functions of the central nervous system (CNS). It is used for acquiring, translating, and analyzing brain signals into commands using an artificial output device. BCI restores or replaces useful functions of patients suffering from neuromuscular disorders, such as amyotrophic lateral sclerosis, cerebral palsy, or spinal cord injury. The interface is also used for rehabilitation after stroke or other disorders. As a result, it is used extensively to control and communicate with patients with locked-in syndrome (LIS) or severe paralysis.

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Brain Computer Interface (BCI) Market Growth Drivers and Trends:

The increasing prevalence of neurodegenerative disorders, including Alzheimer’s, epilepsy, and Parkinson’s disease, represents one of the key factors primarily driving the market growth. Apart from this, BCI finds applications in controlling smart home applications and activities, such as opening and closing doors and windows, which is acting as a growth-inducing factor.

Additionally, the interface is witnessing extensive demand across the military and defense sectors due to its high accuracy and reliability and improved security monitoring, which is creating a positive outlook for the market.

Besides this, the burgeoning investments in research and development (R&D) activities by key players, the increasing geriatric population, and rapid technological advancements are some factors bolstering global market growth.

Brain Computer Interface Market 2023-2028 Competitive Analysis and Segmentation:

Brain Computer Interface Key Palyers:

  • Advanced Brain Monitoring Inc.
  • ANT Neuro
  • Compumedics Limited
  • EMOTIV
  • Medtronic plc
  • Natus Medical Incorporated
  • NeuroSky Inc.
  • Nihon Kohden Corporation
  • NIRx Medical Technologies LLC

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Report Segmentation:

The report has segmented the global brain computer interface market on the basis of product, application and region.

Breakup by Product:

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

Breakup by Application:

  • Healthcare
  • Smart Home Control
  • Communication and Control
  • Entertainment and Gaming

Geographical Analysis:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • Middle East and Africa

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Key Highlights of the Report:

  • Market Performance (2017-2022)
  • Market Outlook (2023-2028)
  • Market Trends
  • Market Drivers and Success Factors
  • Impact of COVID-19
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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