Brain Computer Interface Market to Reach $3.85 Bn, Globally, by 2027 at 14.3% CAGR: Allied Market Research

- Rise in incidences of brain disorders affecting the movements of body, miniaturization of components, and increase in number of gaming industries implementing BCI technology fuel the growth of the global brain computer interface market.

PORTLAND, Oregon, July 1, 2020 /PRNewswire/ --  Allied Market Research published a report, titled, Allied Market Research published a report, titled, "Brain computer interface  Market by Type (Invasive BCI, Non-invasive BCI and Partially Invasive BCI), Application (Communication & Control, Healthcare, Smart Home Control, Entertainment & Gaming, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global brain computer interface market was estimated at $1.36 billion in 2019, and is expected to hit $3.85 billion by 2027, registering a CAGR of 14.3% from 2020 to 2027.

Drivers, restraints, and opportunities

Increase in incidences of brain disorders affecting the movements of body, miniaturization of components, and rise in number of gaming industries implementing BCI technology fuel the growth of the global brain computer interface market. On the other hand, lack of expertise in implementing BCI systems, cyber security threats arising with BCI systems, and ethical issues issuing out of the implementation of BCI technologies curtail down the growth to some extent. However, rise in adoption of sensor technologies and emerging opportunities on the healthcare sector are expected to create multiple opportunities in the industry.

COVID-19 scenario

• Intensive research activities conducted to develop a cure for fatal brain disorders and injuries have been slowed down due to lockdown.
• The governments that offer funding for R&D activities of BCI technology will put new investments on hold to fight the economic crisis.

Download Report Sample (150 Pages PDF with Insights) @ https://www.alliedmarketresearch.com/request-sample/505

The non-invasive segment to dominate by 2027

Based on type, the non-invasive segment accounted for more than four-fifths of the global brain computer interface market share in 2019, and is expected to rule the roost by 2027. Non-invasive BCI systems are used as a tool for multiple applications ranging from communication, entertainment to rehabilitation, which drives the growth of the segment. At the same time, the invasive segment is expected to grow at the fastest CAGR of 18.4% throughout the forecast period. Invasive BCI devices mainly aim to provide functionality to paralyzed people. In addition, it can be used for restoring vision by connecting the brain with external cameras. These factors augment the growth of the segment.

The healthcare segment to lead the trail

Based on application, the healthcare segment contributed to nearly one-third of the global brain computer interface market revenue in 2019, and is anticipated to lead the trail till 2027. Utilization of BCI for paralyzed patients to effectively express their thoughts and to operate other output devices without any assistance is driving the demand of BCI Market for healthcare industry. However, the smart home control segment would register the fastest CAGR of 18.5% during the study period. Smart home vendors are utilizing BCI technology with AR/VR technology to present the attractive product offerings, which boosts the segment growth.

For Purchase Inquiry: https://www.alliedmarketresearch.com/purchase-enquiry/505

North America garnered the highest revenue share in 2019

Based on geography, North America held the highest share in 2019, generating more than one-thirds of the global brain computer interface market. Rise in incidences of brain disorders and cerebrovascular diseases, large presence of small and mid-sized players and availability of healthcare sectors drive the growth of the market in this region. Simultaneously, the Asia-Pacific region would portray the fastest CAGR of 17.4% by the end of 2027. China presently leads the BCI algorithm research by offering affordable solutions in the BCI segment. Moreover, the gaming and entertainment applications and increase in demand for human-interface entertainment technologies drive the growth in this region.

Frontrunners in the industry

• Advanced Brain Monitoring, Inc.
• Cadwell Industries, Inc.
• OpenBCI
• Cortech Solutions, Inc.
• NeuroSky
• Emotiv
• G.tec medical engineering GmbH
• Natus Medical Incorporated
• NIHON KOHDEN CORPORATION
• Integra LifeSciences

Access AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) at:

https://www.alliedmarketresearch.com/library-access

Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.

Avenue Library Subscription | Request for 14 days free trial of before buying:

https://www.alliedmarketresearch.com/avenue/trial/starter

Similar Reports:

Open Source Intelligence Market Expected to Reach $29.194 Billion by 2026

Management Decision Market Expected to Reach $11.64 Billion by 2027

Virtual Data Room Market Expected to Reach $3.63 Billion by 2026

Field Service Management Market Expected to Reach $10.81 Billion by 2026

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. 

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States 
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com 

Web: https://www.alliedmarketresearch.com 

Follow Us on: LinkedIn Twitter 

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg

SOURCE Allied Market Research