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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

A00404
Pages: 226
May 2020 | 24453 Views
 
Author(s) : Vishwa Gaul
Tables: 88
Charts: 55
 

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Brain Computer Interface Market Statistics: 2027

The global brain computer interface market size was valued at $1.36 billion in 2019, and is projected to reach $3.85 billion by 2027, growing at a CAGR of 14.3% from 2020 to 2027. Brain computer interface or BCI, also known as neural-control interface (NCI), mind-machine interface (MMI), direct neural interface (DNI), or brain-machine interface (BMI), is an interactive platform or direct communication pathway between the brain and an external device. Brain imaging technologies such as Magneto encephalography (MEG), functional Magnetic Resonance (fMRI), Electrocorticography (ECOG) and Electroencephalography (EEG), are integrated with BCI systems to capture electrical signals sent by the human brain.

Several technological developments in the field of human-machine sensing, application of BCI technology in entertainment, gaming and communication & control, rise in use of BCI technology in the healthcare sector are some of the major factors that are driving the BCI market. Intensive research carried out to develop a cure for fatal brain disorders and injuries is expected to boost the market. However, ethical problems faced during research and cyber security threats are anticipated to restrict the brain computer interface market growth. On the contrary, integration of AI with BCI, and rise in demand for BCI by SMEs provide lucrative growth opportunities for the global market during the analysis period.

Brain-Computer-Interface-Market-2020-2027

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On the basis of type, the non-invasive BCI segment dominated the overall brain computer interface market size in 2019, and is expected to maintain the dominance during the forecast period. This is attributed to the advantage of not requiring any insertion of a foreign device into the brain, which majorly drives the growth of the BCI solution market.

Brain Computer Interface Market
By Type

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Compute segment is projected as one of the most lucrative segments.

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According to application, the healthcare segment accounted for the highest share in the global brain computer interface market in 2019, owing to the prime objective of BCI technology to provide basic communication capabilities to paralyzed patients.  

Brain Computer Interface Market
By Application

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Hybrid is projected as one of the most significant segments.

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In 2019, North America accounted for the highest brain computer interface market share due to rising incidences of brain disorders and cerebrovascular diseases. This facilitates the development of technologically advanced BCI systems in the North American region. Therefore, there is stiff competition among the players for developing innovative products at affordable prices that also comply with the FDA regulations, which drives the overall BCI technologies market, which drive the growth of the BCI market in this region.

Brain Computer Interface Market
By Region

2027
North America 
Europe
Asia-pacific
Lamea

Asia-Pacific would exhibit the highest CAGR of 26.5% during 2020-2027.

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The report focuses on the growth prospects, restraints, and global brain computer interface market trends. Moreover, the study includes Porter’s five forces analysis of the industry to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the growth of the BCI market.

Segment review

The brain computer interface market is segmented on the basis of type, application, and region. By type, the market is divided into invasive BCI, non-invasive BCI and partially invasive BCI. As per industry vertical, it is divided into communication & control, healthcare, smart home control, entertainment & gaming, and others. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players operating in the global brain computer interface market analysis include Advanced Brain Monitoring, Inc., Cadwell Industries, Inc., OpenBCI, Cortech Solutions, Inc., NeuroSky, Emotiv, G.tec medical engineering GmbH, Natus Medical Incorporated, NIHON KOHDEN CORPORATION, and Integra LifeSciences.

Top impacting factors

Rising Incidences of brain disorders affecting the movements of body

According to a report from the National Institute of Mental Health, 1 in 4 adults in the U.S. suffer from brain disorders every year and approximately 6% of the population in the region suffers from serious disabilities. The global rise in brain disorders results in stiff competition amongst the key BCI players and facilitates swift technological advances. These players primarily focus on technological advancements that address such disabilities and simultaneously invest in R&D studies to be competitively ahead in the brain computer interface market. For instance, in 2015, Mind Solutions, Inc. launched the world’s smallest BCI device, “Synapse”. Such innovations improve the efficiency of existing BCI technologies and help paralyzed patients control prosthetic limbs using thought-enabled processes. It also allows speech impaired patients to display their thoughts by the computer. Due to these benefits, healthcare holds a major application of BCI technologies and contributes to the growth of the overall market.

Miniaturization of components is propelling the growth of BCI technology

The technology whereby miniaturization of several electronic components is made possible on a single chip is referred to as flexible circuit technology. The flexible circuit technology eliminates the need to build a separate chip to support individual electronic components. In BCI technology, flexible electronics, due to their versatility, have enabled implementing pressure sensors in blood vessels and electrodes on the heart. They are also biocompatible with the brain as compared to silicon chips. The data is then transferred to external devices. Such miniaturization enables the ease of wearable BCI technology, which is driving the growth of this brain computer interface market. 

Emerging opportunities in the healthcare sector

The growing healthcare infrastructure in the developing economies such as India, is expected to provide huge opportunities for the growth of BCI technology in the region. As the healthcare infrastructure improves, innovative systems that improve the lives of the disabled are encouraged. Also, the government in such regions is expected to contribute funds for the welfare of the population that creates immense opportunities for the R&D of BCI technology. Moreover, as per a WHO report, around 82 million people will be affected by dementia by year 2030, which directs the potential demand for BCI in the upcoming years. Growing occurrence of neurodegenerative conditions such as Alzheimer’s, Parkinson’s disease and epilepsy are anticipated to fuel the demand for brain computer interface during the forecast period.


Key Benefits For Stakeholders

  • This study includes the analytical depiction of the global brain computer interface market forecast and trends to determine the imminent investment pockets.

  • The report presents information related to key drivers, restraints, and brain computer interface market opportunities.

  • The current market size is quantitatively analyzed from 2019 to 2027 to highlight the financial competency of the brain computer interface industry.

  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the brain computer interface market.

Key Market Segments

By Type

  • Invasive
  • Non-invasive
  • Partially invasive

By Application

  • Healthcare
  • Communication & control
  • Entertainment & gaming
  • Smart home control
  • Others

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • China
    • India
    • Japan
    • Australia
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

Key Market Players

  • 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
 

Chapter 1:Introduction

1.1.Report description
1.2.Key benefits for stakeholders
1.3.Key market segments
1.4.Research methodology

1.4.1.Secondary research
1.4.2.Primary research
1.4.3.Analyst tools & models

Chapter 2:Executive summary

2.1.Key findings

2.1.1.Top impacting factors
2.1.2.Top investment pockets

2.2.CXO perspective

Chapter 3:MARKET OVERVIEW

3.1.Market definition and scope
3.2.Brain-computer interface system
3.3.Various brain-scanning technologies used for BCI

3.3.1.EEG (Electro-encephalography)
3.3.2.fMRI (functional Magnetic Resonance Imaging)
3.3.3.NIRS (Near Infrared Spectroscopy)
3.3.4.MEG (Magnetoencephalography)
3.3.5.ECOG (Electrocorticography)

3.4.Porter’s five forces analysis
3.5.Key player positioning
3.6.Value Chain Analysis
3.7.Case Studies

3.7.1.Case study 01
3.7.2.Case study 02

3.8.Market dynamics

3.8.1.Drivers

3.8.1.1.Rising Incidences of brain disorders affecting the movements of body
3.8.1.2.Miniaturization of components is propelling the growth of BCI technology
3.8.1.3.Increasing number of gaming industries implementing BCI technologies

3.8.2.Restraints

3.8.2.1.Lack of expertise in implementing the BCI systems
3.8.2.2.Cyber security threats Arising with BCI systems
3.8.2.3.Ethical issues arising due to the implementation of BCI technologies

3.8.3.Opportunities

3.8.3.1.Increasing adoption of sensor technologies
3.8.3.2.Emerging opportunities in the healthcare sector

Chapter 4:BCI MARKET, BY Type

4.1.Overview
4.2.Invasive brain computer interface

4.2.1.Key market trends, growth factors, and opportunities
4.2.2.Market size and forecast, by region
4.2.3.Market analysis, by region

4.3.Non-invasive brain computer interface

4.3.1.Key market trends, growth factors, and opportunities
4.3.2.Market size and forecast, by region
4.3.3.Market analysis, by region

4.4.Partially invasive brain computer interface

4.4.1.Key market trends, growth factors, and opportunities
4.4.2.Market size and forecast, by region
4.4.3.Market analysis, by region

Chapter 5:BCI MARKET, BY application

5.1.Overview
5.2.Healthcare

5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast, by region
5.2.3.Market analysis, by region

5.3.Communication & control

5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast, by region
5.3.3.Market analysis, by region

5.4.Gaming & Entertainment

5.4.1.Key market trends, growth factors, and opportunities
5.4.2.Market size and forecast, by region
5.4.3.Market analysis, by region

5.5.Smart home control

5.5.1.Key market trends, growth factors, and opportunities
5.5.2.Market size and forecast, by region
5.5.3.Market analysis, by region

5.6.Others

5.6.1.Key market trends, growth factors, and opportunities
5.6.2.Market size and forecast, by region
5.6.3.Market analysis, by region

Chapter 6:BCI MARKET, BY REGION

6.1.Overview
6.2.North America

6.2.1.Key market trends, growth factors and opportunities
6.2.2.Market size and forecast, by type
6.2.3.Market size and forecast, by application
6.2.4.Market analysis, by country

6.2.4.1.U.S.

6.2.4.1.1.Market size and forecast, by type
6.2.4.1.2.Market size and forecast, by application

6.2.4.2.Canada

6.2.4.2.1.Market size and forecast, by type
6.2.4.2.2.Market size and forecast, by application

6.3.Europe

6.3.1.Key market trends, growth factors and opportunities
6.3.2.Market size and forecast, by type
6.3.3.Market size and forecast, by application
6.3.4.Market analysis, by country

6.3.4.1.UK

6.3.4.1.1.Market size and forecast, by type
6.3.4.1.2.Market size and forecast, by application

6.3.4.2.Germany

6.3.4.2.1.Market size and forecast, by type
6.3.4.2.2.Market size and forecast, by application

6.3.4.3.France

6.3.4.3.1.Market size and forecast, by type
6.3.4.3.2.Market size and forecast, by application

6.3.4.4.Italy

6.3.4.4.1.Market size and forecast, by type
6.3.4.4.2.Market size and forecast, by application

6.3.4.5.Rest of Europe

6.3.4.5.1.Market size and forecast, by type
6.3.4.5.2.Market size and forecast, by application

6.4.Asia-Pacific

6.4.1.Key market trends, growth factors and opportunities
6.4.2.Market size and forecast, by type
6.4.3.Market size and forecast, by application
6.4.4.Market analysis, by country

6.4.4.2.China

6.4.4.2.1.Market size and forecast, by type
6.4.4.2.2.Market size and forecast, by application

6.4.4.3.India

6.4.4.3.1.Market size and forecast, by type
6.4.4.3.2.Market size and forecast, by application

6.4.4.5.Japan

6.4.4.5.1.Market size and forecast, by type
6.4.4.5.2.Market size and forecast, by application

6.4.4.6.Australia

6.4.4.6.1.Market size and forecast, by type
6.4.4.6.2.Market size and forecast, by application

6.4.4.7.Rest of Asia-Pacific

6.4.4.7.1.Market size and forecast, by type
6.4.4.7.2.Market size and forecast, by application

6.5.LAMEA

6.5.1.Key market trends, growth factors and opportunities
6.5.2.Market size and forecast, by type
6.5.3.Market size and forecast, by application
6.5.4.Market analysis, by country

6.5.4.1.Latin America

6.5.4.1.1.Market size and forecast, by type
6.5.4.1.2.Market size and forecast, by application

6.5.4.2.Middle East

6.5.4.2.1.Market size and forecast, by type
6.5.4.2.2.Market size and forecast, by application

6.5.4.3.Africa

6.5.4.3.1.Market size and forecast, by type
6.5.4.3.2.Market size and forecast, by application

Chapter 7:COMPETITIVE LANDSCAPE

7.1.Competitive Dashboard
7.2.Competitive Heatmap
7.3.Top Winning Strategies
7.4.Key Developments

7.4.1.New product launches
7.4.2.Partnership
7.4.3.Acquisition
7.4.4.Product development
7.4.5.Business expansion
7.4.6.Collaboration

Chapter 8:Company Profile

8.1.Advanced Brain Monitoring, Inc.

8.1.1.Company overview
8.1.2.Key executives
8.1.3.Company snapshot
8.1.4.Product portfolio
8.1.5.Key strategic moves and developments

8.2.Cadwell Industries, Inc.

8.2.1.Company overview
8.2.2.Key executives
8.2.3.Company snapshot
8.2.4.Product portfolio
8.2.5.Key strategic moves and developments

8.3.Cortech Solutions, Inc.

8.3.1.Company overview
8.3.2.Key executives
8.3.3.Company snapshot
8.3.4.Product portfolio

8.4.EMOTIV

8.4.1.Company overview
8.4.2.Key executives
8.4.3.Company snapshot
8.4.4.Product portfolio
8.4.5.Key strategic moves and developments

8.5.G.tec medical engineering GmbH

8.5.1.Company overview
8.5.2.Key executive
8.5.3.Company snapshot
8.5.4.Product portfolio

8.6.Integra LifeSciences

8.6.1.Company overview
8.6.2.Key executives
8.6.3.Company snapshot
8.6.4.Operating business segments
8.6.5.Product portfolio
8.6.6.R&D expenditure
8.6.7.Business performance
8.6.8.Key strategic moves and developments

8.7.Natus Medical Incorporated

8.7.1.Company overview
8.7.2.Key executives
8.7.3.Company snapshot
8.7.4.Product portfolio
8.7.5.R&D expenditure
8.7.6.Business performance
8.7.7.Key strategic moves and developments

8.8.NeuroSky

8.8.1.Company overview
8.8.2.Key Executives
8.8.3.Company snapshot
8.8.4.Product portfolio

8.9.NIHON KOHDEN CORPORATION

8.9.1.Company overview
8.9.2.Key executives
8.9.3.Company snapshot
8.9.4.Product portfolio
8.9.5.R&D expenditure
8.9.6.Business performance
8.9.7.Key strategic moves and developments

8.10.OpenBCI

8.10.1.Company overview
8.10.2.Key executives
8.10.3.Company snapshot
8.10.4.Product portfolio


LIST OF TABLES

Table 01.BCI MARKET revenue, BY Type, 2019–2027 ($MILLION)
Table 02.BCI MARKET REVENUE for Invasive brain computer interface, by REGION, 2019–2027 ($MILLION)
Table 03.BCI MARKET REVENUE for Non-invasive brain computer interface, by REGION, 2019–2027 ($MILLION)
Table 04.BCI MARKET REVENUE for Partially invasive brain computer interface, by REGION, 2019–2027 ($MILLION)
Table 05.BCI MARKET revenue, BY application, 2019–2027 ($MILLION)
Table 06.BCI MARKET REVENUE FOR healthcare, by REGION, 2019–2027 ($MILLION)
Table 07.BCI MARKET REVENUE FOR Communication & control, by REGION, 2019–2027 ($MILLION)
Table 08.BCI MARKET REVENUE FOR Gaming & Entertainment, by REGION, 2019–2027 ($MILLION)
Table 09.BCI MARKET REVENUE FOR Smart home control, by REGION, 2019–2027 ($MILLION)
Table 10.BCI MARKET REVENUE FOR Others, by REGION, 2019–2027 ($MILLION)
Table 11.BCI MARKET revenue, by Region, 2019–2027 ($MILLION)
Table 12.North America BCI market revenue, by Type, 2019-2027 ($MILLION)
Table 13.North America BCI MARKET REVENUE, by application, 2019-2027 ($MILLION)
Table 14.north AMERICA BCI MARKET REVENUE, by country, 2019-2027 ($MILLION)
Table 15.U.S. BCI market revenue, by Type, 2019-2027 ($MILLION)
Table 16.U.S. BCI market revenue, by application, 2019-2027 ($MILLION)
Table 17.Canada BCI market revenue, by Type, 2019-2027 ($MILLION)
Table 18.Canada BCI market revenue, by application, 2019-2027 ($MILLION)
Table 19.EUROPE BCI market revenue, by Type, 2019-2027 ($MILLION)
Table 20.EUROPE BCI MARKET REVENUE, by application, 2019-2027 ($MILLION)
Table 21.Europe BCI MARKET REVENUE, by country, 2019-2027 ($MILLION)
Table 22.UK BCI market revenue, by Type, 2019-2027 ($MILLION)
Table 23.UK BCI market revenue, by application, 2019-2027 ($MILLION)
Table 24.Germany BCI market revenue, by Type, 2019-2027 ($MILLION)
Table 25.Germany BCI market revenue, by application, 2019-2027 ($MILLION)
Table 26.France BCI market revenue, by Type, 2019-2027 ($MILLION)
Table 27.France BCI market revenue, by application, 2019-2027 ($MILLION)
Table 28.Italy BCI market revenue, by Type, 2019-2027 ($MILLION)
Table 29.Italy BCI market revenue, by application, 2019-2027 ($MILLION)
Table 30.rest of Europe BCI market revenue, by Type, 2019-2027 ($MILLION)
Table 31.rest of Europe BCI market revenue, by application, 2019-2027 ($MILLION)
Table 32.asia-pacific BCI market revenue, by Type, 2019-2027 ($MILLION)
Table 33.asia-pacific BCI MARKET REVENUE, by application, 2019-2027 ($MILLION)
Table 34.asia-pacific BCI MARKET REVENUE, by country, 2019-2027 ($MILLION)
Table 35.China BCI market revenue, by Type, 2019-2027 ($MILLION)
Table 36.China BCI market revenue, by application, 2019-2027 ($MILLION)
Table 37.India BCI market revenue, by Type, 2019-2027 ($MILLION)
Table 38.India BCI market revenue, by application, 2019-2027 ($MILLION)
Table 39.Japan BCI market revenue, by Type, 2019-2027 ($MILLION)
Table 40.Japan BCI market revenue, by application, 2019-2027 ($MILLION)
Table 41.Australia BCI market revenue, by Type, 2019-2027 ($MILLION)
Table 42.Australia BCI market revenue, by application, 2019-2027 ($MILLION)
Table 43.rest of Asia-Pacific BCI market revenue, by Type, 2019-2027 ($MILLION)
Table 44.rest of Asia-Pacific BCI market revenue, by application, 2019-2027 ($MILLION)
Table 45.LAMEA BCI market revenue, by Type, 2019-2027 ($MILLION)
Table 46.LAMEA BCI MARKET REVENUE, by application, 2019-2027 ($MILLION)
Table 47.LAMEA BCI MARKET REVENUE, by country, 2017-2025 ($MILLION)
Table 48.Latin America BCI market revenue, by Type, 2019-2027 ($MILLION)
Table 49.Latin America BCI market revenue, by application, 2019-2027 ($MILLION)
Table 50.Middle East BCI market revenue, by Type, 2019-2027 ($MILLION)
Table 51.Middle East BCI market revenue, by application, 2019-2027 ($MILLION)
Table 52.Africa BCI market revenue, by Type, 2019-2027 ($MILLION)
Table 53.Africa BCI market revenue, by application, 2019-2027 ($MILLION)
Table 54.key NEW product launches (2017-2020)
Table 55.partnership (2017-2020)
Table 56.Acquistion (2017-2020)
Table 57.Product Development (2017-2020)
Table 58.Key Expansions (2017-2020)
Table 59.Collaboration (2017-2020)
Table 60.Advanced Brain Monitoring, Inc.: company Snapshot
Table 61.Advanced Brain Monitoring, Inc.: PRODUCT portfolio
Table 62.Cadwell Industries, Inc.: KEY EXECUTIVES
Table 63.Cadwell Industries, Inc.: company Snapshot
Table 64.Cadwell Industries, Inc.: PRODUCT portfolio
Table 65.Cortech Solutions, Inc.: KEY EXECUTIVES
Table 66.Cortech Solutions, Inc..: company Snapshot
Table 67.Cortech Solutions, Inc.: PRODUCT portfoliO
Table 68.EMOTIV: KEY EXECUTIVES
Table 69.EMOTIV: company Snapshot
Table 70.Alphabet Inc.: PRODUCT portfolio
Table 71.G.tec medical engineering GmbH: KEY EXECUTIVE
Table 72.G.tec medical engineering GmbH: company Snapshot
Table 73.G.tec medical engineering GmbH: PRODUCT portfolio
Table 74.Integra LifeSciences: company Snapshot
Table 75.Integra LifeSciences: Operating segments
Table 76.Integra LifeSciences: PRODUCT portfolio
Table 77.Natus Medical Incorporated: KEY EXECUTIVES
Table 78.Natus Medical Incorporated: company Snapshot
Table 79.Natus Medical Incorporated: PRODUCT portfolio
Table 80.NeuroSky: KEY EXECUTIVES
Table 81.NeuroSky: company Snapshot
Table 82.NeuroSky: PRODUCT portfolio
Table 83.NIHON KOHDEN CORPORATION : KEY EXECUTIVES
Table 84.NIHON KOHDEN CORPORATION : company Snapshot
Table 85.NIHON KOHDEN CORPORATION : PRODUCT portfolio
Table 86.OpenBCI: KEY EXECUTIVES
Table 87.OpenBCI: company Snapshot
Table 88.OpenBCI: PRODUCT portfolio

LIST OF FIGURES

Figure 01.Key market segments
Figure 02.BCI Market, 2019–2027
Figure 03.BCI Market, By region, 2019–2027
Figure 04.Top IMPACTING FACTORS
Figure 05.Top investment pockets
Figure 06.moderate Bargaining power of Suppliers
Figure 07.low-to-MODERATE bargaining power of Buyers
Figure 08.low-to-moderate Threat of substitutes
Figure 09.Moderate threat of new entrants
Figure 10.moderate-to-high competitive RIVALRY
Figure 11.BCI market: Key player positioning
Figure 12.BCI MARKET: KEY PLAYER POSITIONING
Figure 13.BCI MARKET REVENUE, BY Type, 2019–2027($MILLION)
Figure 14.COMPARATIVE SHARE ANALYSIS OF BCI MARKET for Invasive brain computer interface, BY REGION,  2019 & 2027 (%)
Figure 15.COMPARATIVE SHARE ANALYSIS OF BCI MARKET for Non-invasive brain computer interface, BY REGION, 2019 & 2027 (%)
Figure 16.COMPARATIVE SHARE ANALYSIS OF BCI MARKET for Partially invasive brain computer interface, BY REGION,  2019 & 2027 (%)
Figure 17.BCI MARKET REVENUE, BY application, 2019–2027($MILLION)
Figure 18.COMPARATIVE SHARE ANALYSIS OF BCI MARKET for healthcare, BY REGION, 2019 & 2027 (%)
Figure 19.COMPARATIVE SHARE ANALYSIS OF BCI MARKET for Communication & control, BY REGION,  2019 & 2027 (%)
Figure 20.COMPARATIVE SHARE ANALYSIS OF BCI MARKET for Gaming & Entertainment, BY REGION, 2019 & 2027 (%)
Figure 21.COMPARATIVE SHARE ANALYSIS OF BCI MARKET for Smart home control, BY REGION, 2019 & 2027 (%)
Figure 22.COMPARATIVE SHARE ANALYSIS OF BCI MARKET for Others, BY REGION,  2019 & 2027 (%)
Figure 23.U.s. BCI market revenue, 2019-2027 ($MILLION)
Figure 24.Canada BCI market revenue, 2019-2027 ($MILLION)
Figure 25.UK BCI market revenue, 2019-2027 ($MILLION)
Figure 26.Germany BCI market revenue, 2019-2027 ($MILLION)
Figure 27.France BCI market revenue, 2019-2027 ($MILLION)
Figure 28.Italy BCI market revenue, 2019-2027 ($MILLION)
Figure 29.rest of Europe BCI market revenue, 2019-2027 ($MILLION)
Figure 30.China BCI market revenue, 2019-2027 ($MILLION)
Figure 31.India BCI market revenue, 2019-2027 ($MILLION)
Figure 32.Japan BCI market revenue, 2019-2027 ($MILLION)
Figure 33.Australia BCI market revenue, 2019-2027 ($MILLION)
Figure 34.rest of Asia-Pacific BCI market revenue, 2019-2027 ($MILLION)
Figure 35.Latin America BCI market revenue, 2019-2027 ($MILLION)
Figure 36.Middle East BCI market revenue, 2019-2027 ($MILLION)
Figure 37.Africa BCI market revenue, 2019-2027 ($MILLION)
Figure 38.COMPETITIVE DASHBOARD
Figure 39.COMPETITIVE DASHBOARD
Figure 41.COMPETITIVE HEATMAP OF KEY PLAYERS
Figure 42.Top Winning Strategies, By Year, 2017-2020
Figure 43.Top Winning Strategies, By Development, 2017-2020
Figure 44.Top Winning Strategies, By Company, 2017-2020
Figure 45.Advanced Brain Monitoring, Inc.: KEY EXECUTIVES
Figure 46.Integra LifeSciences: KEY EXECUTIVES
Figure 47.R&D expenditure, 2017–2019 ($MILLION)
Figure 48.Integra LifeSciences: Revenue, 2017–2019 ($MILLION)
Figure 49.Integra LifeSciences: Revenue share BY Sgement, 2019 (%)
Figure 50.Integra LifeSciences: Revenue share BY REGION, 2019 (%)
Figure 51.R&D expenditure, 2017–2019 ($MILLION)
Figure 52.Natus Medical Incorporated: Revenue, 2017–2019 ($MILLION)
Figure 53.R&D expenditure, 2016–2018 ($MILLION)
Figure 54.NIHON KOHDEN CORPORATION : Revenue, 2016–2018 ($MILLION)
Figure 55.NIHON KOHDEN CORPORATION: Revenue share BY REGION, 2018 (%)

 
 

The BCI market is witnessing consistent growth considering the per year increase in implementation of the technology. Healthcare sector is the prime application of this technology, whereas, applications such as gaming and, market research among others are gradually gaining momentum. A rise in the cases of brain disorders, globally, supplements the developments and growth of the BCI market. U.S. holds a major market share in the BCI market, owing to the high concentration of key players in this region. The government is taking active initiatives for the welfare of the population and is largely contributing funds for research and development studies. Following the U.S., Asia-Pacific is the next major shareholder of the BCI technologies market. The improving health infrastructure in developing economies such as India and China foresee tremendous growth opportunities during the forecast period of 2020-2027. Nihon Kohden Corporation, Mind Solutions Inc. and Emotiv, Inc. are the key players in the BCI technology market. 

These companies are implementing effective strategies such as product development and expansion in offshore markets along with active participation in trade shows and exhibitions, amongst others. Some of the other prominent players in the market include Quantum Applied Science and Research, Inc., Cortech Solutions, Inc. and OpenBCI. 

Invasive and non-invasive are the two major methods of implementing BCI systems with restoration of disabilities being the prime application. At present, the shortage of trained professionals to handle BCI systems adversely affects the growth of this market. Since BCI is an emerging technology and yet to be fully commercialized and approved by the FDA for all the existing and upcoming products, effective training procedures and workshops should be conducted to overcome such barriers. For instance, Cadwell Laboratories Inc., in 2015, confirmed their participation in workshops with an aim of creating BCI technology product awareness and addressing misconceptions, pertaining to the same. This strategy also helps the players in projecting the level of innovation, research and development efforts to conceptualize innovative products.  

 

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