PORTLAND, Oregon, April 22, 2015 /PRNewswire/ --
According to a new report by Allied Market Research entitled, "Global Brain Computer Interface (BCI) Market - Size, Industry Analysis, Trends, Opportunities, Growth and Forecast, 2013-2020", the Global Brain Computer Interface (BCI) market is expected to reach $1.46 billion by 2020, registering a CAGR of 11.5% during 2014-2020. A global rise in the count of brain disorders along with the increasing government funding to improve healthcare systems, would supplement the growth of this market. The non-invasive BCI technology accounted for about 85% of the total BCI market revenue in 2013, and demonstrate a steady growth in future, thus, eliminating the need to perform surgeries and implant BCI devices.
To view the report, visit the website at http://www.alliedmarketresearch.com/brain-computer-interfaces-market
Geographically, North America holds a major share in the BCI technology market due to high penetration of such technologies in this region. APAC is also a major contributor primarily to the vast computer gaming industry. The European region constitutes the third largest market and is expected to grow at a relatively higher CAGR during the forecast period. The European Commission is taking active measures for the population with motor disabilities. In 2012, the EC commissioned EUR 2.3 million in support of a three year project for the well-being of population suffering from motor disabilities. The technology enjoys highest adoption in the healthcare sector followed by the gaming industry. An increase in the number of game developing companies, implementing BCI technologies to improve the overall gaming experience, would further enhance the adoption of BCI technologies. The application of BCI technology is also underway in the smart homes control industry and would witness incremental growth during the forecast period of 2014-2020.
Key findings of the study:
- The Global market for BCI would exhibit a steady growth owing to its increased adoption across key sectors such as healthcare and the gaming industry, during the forecast period (2014 - 2020)
- The Invasive BCI technology market would grow at the fastest CAGR of 15.3% during 2014-2020
- Swift growth is expected in the smart home control applications segment due to high living standards in the North American region, especially across U.S. and Canada
- The Asia-Pacific market would foresee tremendous growth for BCI technology systems
Similar market studies by Allied Market Research -
Global ERP Software Market - Enterprise resource planning (ERP) is a software that allows organizations to manage their business processes. Through time, the role of ERP has transitioned from back office activities to the integration of business processes. Conventionally, ERP software have been largely used for back office operations which include production, accounting, inventory control and order management etc. An ERP software consists of multiple software modules and each ERP module is focused on a single area of business process such as material purchasing, inventory control, accounting, finance, HR and marketing etc. These modules can be prepared in accordance to the requirement of the company. ERP software are deployed on premise as well as cloud systems.
To view the ERP software market report at http://www.alliedmarketresearch.com/ERP-market
Global Text Analytics Market - Text analytics is an emerging technology that is popular amongst various industries such as FMCG, BFSI, Telecom, Healthcare, etc. Text analytics software equip the companies to understand their customers better, and help them determine customers' demands, purchasing patterns, etc., by analyzing the data generated from various sources. The growing popularity of text analytics technology is attributed to the rising acceptance of social media platforms and growing inclination towards cloud technology for data storage. There is a growing tendency among companies to adopt cloud technology to understand the inherent dynamics of the market. The ability to curb fraud, manage risk, plan effective marketing campaigns, etc. are some of the major factors driving the global text analytics applications segment. As substantial data is generated through different sources, the adoption of cloud technology empowers companies to analyze the data and forecast profitable outcomes of the same. The ability of text analytics to analyze data in real time has influenced its adoption in various businesses; therefore, text analysis is gaining prominence as a futuristic technology that could redefine business processes. Additionally, emerging economies provide huge potential for the expansion of the text analytics market in the Asia-Pacific region.
View the global text analytics market report at http://www.alliedmarketresearch.com/text-analytics-market
The growth is also attributed to the stiff competition amongst the prominent market players leading to swift technological advances in the BCI systems. Players such as Emotiv, Inc., Advanced Brain Monitoring Inc. and Nihon Kohden Corporation are adopting a consistent development process of innovative products to penetrate the market and further enhance the overall revenues.
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.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
Toll Free: +1(855)711-1555 (U.S. & Canada)
SOURCE Allied Market Research