Global Brain Computer Interface Market Outlook 2020-2030

Global Brain Computer Interface (BCI) Market Analysis 2020-2030

The global brain computer interface (BCI) market is anticipated to grow with a CAGR of 12.54% over the forecast period, i.e., 2021 - 2030. Factors such as the growing advancements in medical research, followed by the surge in demand for neuroprosthetics amongst the elderly population are projected to drive the market growth. Moreover, factors such as the increasing geriatric population, and the rise in healthcare expenditure are also projected to boost the market growth. Brain computer interface (BCI), also known as brain machine interface (BMI), are used widely in medical research, mapping, assisting, augmenting, or repairing human cognitive or sensory-motor functions. The technology nowadays is being incorporated into the treatment of many patients suffering from cognitive or physical impairments. The global brain computer interface (BCI) market is estimated to garner a revenue of close to USD 4480 Million by the end of 2030, up from a revenue of about USD 1470 Million in the year 2020.

The global brain computer interface (BCI) market is segmented by numerous segments, which include segmentation by application and by region. By application, the market is segmented into medical, games & entertainment, smart home control, communication & control, military & defense, educational & self-regulation, and others. The medical segment, out of all the other segments, is projected to display the largest revenue of more than USD 3400 Million by the end of 2030. Moreover, the segment registered a revenue of near to USD 1015 Million in the year 2020.

By region, the global brain computer interface (BCI) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The market in North America is anticipated to garner the largest revenue of around USD 1730 Million by the end of 2030. Moreover, in the year 2020, the market in the region registered a revenue of about USD 650 Million.

Some of the prominent industry leaders in the global brain computer interface (BCI) market that are included in our report are NextMind SAS, Blackrock Neurotech, Advanced Brain Monitoring, Inc., NIHON KOHDEN CORPORATION, g.tec medical engineering GmbH, Natus Medical Incorporated, Cadwell Industries Inc., OpenBCI, Inc., Cortech Solutions, Inc., NeuroSky, Inc., EMOTIV, Inc., Integra LifeSciences Corporation, and others.