Industry Outlook

Brain computer interface technology is a significant communication tool between systems and users. This technology was initially developed for biomedical applications, leading to emergence of assistive devices. Brain computer interface has also facilitated restoration of the movement ability and replacement of lost motor functionality. The promising future of brain computer interface has encouraged researchers to study the importance of brain computer interface for non-paralyzed humans with medical applications. The scope of brain computer interface research has further spread to non-medical applications. Recent studies have also targeted normal healthy individuals in exploring the application of brain computer interface as a potential input device and generation of hands-free applications.

"Greater demand for noninvasive signal acquisition techniques to be witnessed in the market"

Based on the types of signal acquisition methods, the global brain computer interface market is segmented into invasive techniques such as intracortical and cortical surface techniques; and noninvasive techniques such as magnetoencephalography, functional magnetic resonance imaging, functional infrared spectroscopy and electroencephalogram. Between the two, noninvasive techniques the global market in terms of revenue. Wider applicability of this technology including medical and entertainment purposes mainly contribute to the dominance of this segment. Additionally, growing use of these techniques in home applications will open further growth opportunities in the global market. On the other hand, the growth of invasive techniques segment is anticipated to remain stable during the forecast period. Vital position of invasive techniques in enabling motor control, and vision restoration will enable stable position of this segment through 2029.

"Demand for environment control applications to pick pace"

Based on applications, this market is segmented as Communication, Motor Restoration, Environmental Control, Locomotion, Entertainment and Others (neuromarketing, security, etc.). Brain computer interface currently is widely adopted for healthcare, gaming, entertainment and communications applications. In healthcare, this technology finds sustainable position in treatment of paralysis, neurological diseases, sleep disorders and assessment of neuroscience. However, it is anticipated that the demand for brain control devices in home or environment control segment for purposes such as lighting control, use of communication systems, access control and so on will flourish. Smart environments such as smart workplaces, transportation and smart homes can exploit brain computer interfaces to control daily human life. It is also anticipated that we shall soon witness cooperation between brain computer interface and internet of things.  

"North America to spearhead the global brain computer interface market"

In 2020, North America is the largest market for brain computer interface on the global front, and accounts for over 35% of the global market. High incidence and prevalence of neurodegenerative diseases, and swift adoption of new technologies are the key factors attributed to the dominance of North America. Additionally, growing popularity of virtual gaming also is a key characteristic of North America market. Domicile of several major players in the U.S. also assists in characterizing the dominance of North America market. Asia Pacific, however, is anticipated to register the fastest growth during the forecast period from 2021 to 2029. Large potential patient population, and growing healthcare expenditure along with disposable incomes are the key attributes for the rapid growth of Asia Pacific market. Japan and China are the most prominent regions in Asia Pacific market.

In addition this report provides profiles of key players operating in this market such as Advanced Brain Monitoring, Inc., ANT Neuro, Brain Products GmbH, Cognionics, Inc., Compumedics Ltd., Integra LifeSciences Corporation, Neuroelectronics, InteraXon, Guger Technologies OG, Natus Medical, Quantum Applied Science and Research, Inc., OpenBCI, Neurosky, Inc. and Mind Solutions Inc.

Historical & Forecast Period

This study report represents analysis of each segment from 2023 to 2033 considering 2024 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2025 to 2033.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Brain Computer Interface market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Brain Computer Interface market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Brain Computer Interface market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2033.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Brain Computer Interface market?
• Which is the largest regional market for Brain Computer Interface market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Brain Computer Interface market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Brain Computer Interface market worldwide?