Brain Computer Interface Market Outlook: 2020
Brain computer interface market size is expected to garner $1.46 billion by 2020, registering a CAGR of 11.5% during the forecast period 2014 - 2020. A brain computer interface (BCI) is a revolutionary system that facilitates a direct communication pathway between a functional brain and peripheral electronic devices that are used to calibrate the movement in physically challenged individuals. A brain computer interface system records the brain signal from the surface of the cortex, through signaling devices implanted within the brain or from the sensors placed over the scalp.
These signals are then transmitted to the connected peripheral device that enables the operator to perform numerous tasks. With the help of a brain computer interface system, the paralyzed and handicapped individuals can overcome their physical challenges and perform various day-to-day tasks. The primary function of a brain computer interface device is to intercept the electrical signals that pass between the neurons and transmit them to an external device. Brain computer interface (BCI) is also referred to as a brain machine interface (BMI), direct neural interface (DNI), or mind machine interface (MMI).
Numerous technological developments in the field of computation, human sensing, along with the application of brain computer interface technology for entertainment, gaming, communication, and control, are some of the major factors that drive the growth of the brain computer interface market size. Intensive research carried out to develop a cure for paralyzing brain disorders and injuries is likely to boost the brain computer interface market. However, the ethical problem faced during the research, i.e. use of brain computer interface on patients whose informed consent cannot be obtained, can act as a restraint for the brain computer industry.
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Based on applications, the global brain computer interface market is segmented into smart-homes control, healthcare, entertainment, and gaming purposes. Healthcare applications hold a major chunk of the global brain computer interface market share, and include the restoration of disabilities and repair of the brain functions. Based on type, the brain computer interface market is segmented into invasive, non-invasive, and partially invasive brain computer interface. The value chain analysis provides a systematic study of the key intermediaries involved in the development of brain computer interface systems. The value chain analysis helps the stakeholders to devise appropriate strategies and develop their businesses.
Based on geography, the brain computer interface industry is segmented into four major regions namely, North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East, and Africa). Among these four regions, the North American region majorly contributes to the brain computer interface technology market, followed by Asia-Pacific, Europe, and LAMEA. The BCI providers are highly concentrated in the North American region. In addition, the government funding further adds to the growth of brain computer interface technology market in the region.
Top Factors Impacting Brain Computer Interface Market
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The brain computer interface technology market is forecast to show a promising growth during the forecast period 2014-2020. The rising incidences of brain disorders that affect the movement of body parts, increased government funding in the developed economies to carry out research studies, and the increased use of brain computer interface technologies by the gaming enterprises, are the prime factors that fuel the growth of the brain computer interface technologies market. However, the lack of professionals possessing experience in handling brain computer interface systems, cyber security issues, and ethical considerations adversely impact the growth of this brain computer interface market. However, experts predict that these issues will eventually get resolved along with further commercialization of the technology. The increasing use of sensor technologies and improving healthcare infrastructure in developing economies, such as India and China, foresee tremendous growth for the brain computer interface technology market.
Rising Incidences of Brain Disorders
As the global economy is slowly improving, the lifestyles of population across the globe is also improving. Such modern lifestyles have given rise to several health issues, neurophysiological disorders being a prominent one of them. These brain disorders are further expected to increase during the forecast period 20142020, hence creating demand opportunities to support the growth of the brain computer interface technology market in future.
Governments in various nations across the globe are taking necessary steps by implementing measures to improve the basic infrastructure of the nation. In the due course of implementing these action plans, healthcare has emerged as a primary concern. In regions across U.S. and Europe, regular funds are being allotted for conducting research studies. Brain computer interface technology research studies are encouraged as they majorly benefit the population of the nation in improving the health of individuals. Such funding sources from the government, especially in developing economies, such as India and China, are further expected to positively impact the brain computer interface systems market, thereby driving the growth of brain computer interface market.
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- The study provides an in-depth brain computer interface market analysis, including the current and future trends to elucidate the imminent investment pockets in the market
- Current and future trends are outlined to determine the overall attractiveness of the market and to single out profitable trends to help companies gain a stronger foothold in the brain computer interface industry
- The report provides information regarding key drivers, restraints, and opportunities with their impact analysis throughout the forecast period
- Quantitative analysis of the current market and estimations through 2013-2020 are presented to highlight the financial caliber of the market
- Porter’s Five Forces model illustrates the potency of the buyers and suppliers participating in the brain computer interface market
- Value chain analysis in the report provides a systematic study of the key intermediaries involved in the development of brain computer interface systems
Brain Computer Interface Market Key Segmentation
- Partially invasive
- Communication and control
- Entertainment and gaming
- Smart home control
- North America
- Asia Pacific
- Nihon Kohden Corporation
- Mind Solutions Inc.
- Advanced Brain Monitoring, Inc.
- Quantum Applied Science and Research, Inc.
- Cadwell Laboratories Inc.
- Cortech Solutions, Inc.
- NeuroSky, Inc.
- Emotiv, Inc.
- Guger Technologies OEG
TABLE OF CONTENTS
CHAPTER 1 INTRODUCTION
1.1 Report description
1.2 Key benefits
1.3 Key market segmentation
1.4 Research methodology
1.4.1 Secondary research
1.4.2 Primary research
1.4.3 Analyst tools and models
CHAPTER 2 EXECUTIVE SUMMARY
2.1 Executive summary
2.2 CXO perspective
2.3 Market beyond: what to expect by 2025
2.3.1 Base case scenario
2.3.2 Optimistic scenario
2.3.3 Critical scenario
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 Deep Brain Stimulation (DBS)
3.5 Wearable computers and BCI technology
3.6 Key findings
3.6.1 Top factors impacting the market
188.8.131.52 Rising incidences of brain disorders
184.108.40.206 Government funding
220.127.116.11 Miniaturization of components
18.104.22.168 Gaming industries
22.214.171.124 Lack of expertise
126.96.36.199 Cyber security threats
188.8.131.52 Ethical issues
3.6.2 Top investment pockets
3.6.3 Top winning strategies
3.7 Porters five force analysis
3.7.1 The bargaining power of supplier is low as the design and development of BCI systems is majorly an in-house activity
3.7.2 Low bargaining power of buyers due to their demand for niche products that effectively cater to their disorders
3.7.3 Low threat of substitute
3.7.4 Low threat of new entrants due to stringent intellectual property laws implemented to curb replication of technologies
3.7.5 Intense rivalry among the players of BCI market
3.8 Value chain analysis
3.9 Case studies
3.10 Market dynamics
184.108.40.206 Rising incidences of brain disorders affecting the movements of body
220.127.116.11 Government fundings trigger the use of BCI technologies
18.104.22.168 Miniaturization of components further add to the growth of BCI technology market
22.214.171.124 Increasing number of gaming industries implementing BCI technologies
126.96.36.199 Lack of expertise in implementing the BCI systems
188.8.131.52 Security issues associated with BCI systems
184.108.40.206 Ethical issues associated with BCI technologies
220.127.116.11 Developing economies
18.104.22.168 Swift use of sensor technologies
CHAPTER 4 GLOBAL BRAIN COMPUTER INTERFACE MARKET, BY TYPE
4.1 Invasive brain computer interface
4.1.1 Key market trends
4.1.2 Market size and forecast
4.2 Non-invasive brain computer interface
4.2.1 Key market trends
4.2.2 Market size and forecast
4.3 Partially invasive brain computer interface
4.3.1 Key market trends
4.3.2 Market size and forecast
GLOBAL BRAIN COMPUTER INTERFACE MARKET BY, APPLICATION
4.4.2 Market size and forecast
4.5 Communication and control
4.5.2 Market size and forecast
4.6 Gaming and entertainment
4.6.2 Market size and forecast
4.7 Smart home control
4.7.2 Market size and forecast
4.8.2 Market size and forecast
CHAPTER 5 GLOBAL BRAIN COMPUTER INTERFACE MARKET , BY GEOGRAPHY
5.1 North America
5.1.1 Key market trends
5.1.2 Competitive scenario
5.1.3 Key growth factors and opportunities
5.1.4 Market size and forecast
5.2.1 Key market trends
5.2.2 Competitive scenario
5.2.3 Key growth factors and opportunities
5.2.4 Market size and forecast
5.3.1 Key market trends
5.3.2 Competitive scenario
5.3.3 Key growth factors and opportunities
5.3.4 Market size and forecast
5.4 Latin America, Middle East and Africa (LAMEA)
5.4.1 Key market trends
5.4.2 Competitive scenario
5.4.3 Key growth factors and opportunities
5.4.4 Market size and forecast
CHAPTER 6 COMPANY PROFILE
6.1 Nihon Kohden Corporation
6.1.1 Company overview
6.1.2 Company snapshot
6.1.3 Business performance
6.1.4 Key strategies and developments
6.1.5 SWOT analysis of Nihon Kohden Corporation
6.2 Mind Solutions Inc.
6.2.1 Company overview
6.2.2 Company snapshot
6.2.3 Key strategies and developments
6.2.4 SWOT analysis of Mind Solutions, Inc.
6.3 Advanced Brain Monitoring, Inc.
6.3.1 Company overview
6.3.2 Company snapshot
6.3.3 Key strategies and developments
6.3.4 SWOT analysis of Advanced Brain Monitoring, Inc.
6.4 Quantum Applied Science and Research, Inc.
6.4.1 Company overview
6.4.2 Company snapshot
6.4.3 Key strategies and developments
6.4.4 SWOT analysis of Quantum Applied Science and Research, Inc.
6.5 Cadwell Laboratories Inc.
6.5.1 Company overview
6.5.2 Company snapshot
6.5.3 Key strategies and developments
6.5.4 SWOT analysis of Cadwell Laboratories Inc.
6.6.1 Company overview
6.6.2 Company snapshot
6.6.3 Key strategies and developments
6.6.4 SWOT analysis of OpenBCI
6.7 Cortech Solutions, Inc.
6.7.1 Company overview
6.7.2 Company snapshot
6.7.3 Key strategies and developments
6.7.4 SWOT analysis of Cortech Solutions, Inc.
6.8 Neurosky, Inc.
6.8.1 Company overview
6.8.2 Company snapshot
6.8.3 Key strategies and developments
6.8.4 SWOT analysis of Neurosky, Inc.
6.9 Emotiv, Inc.
6.9.1 Company overview
6.9.2 Company snapshot
6.9.3 Key strategies and developments
6.9.4 SWOT analysis of Emotiv, Inc.
6.10 Guger Technologies OEG
6.10.1 Company overview
6.10.2 Company snapshot
6.10.3 Key strategies and developments
6.10.4 SWOT analysis of Guger Technologies OEG
LIST OF TABLES
TABLE 1 BRAIN COMPUTER INTERFACE MARKET REVENUE BY GEOGRAPHY, 2013 - 2020 ($ MILLION)
TABLE 2 GLOBAL BRAIN-COMPUTER INTERFACE BASE CASE SCENARIO MARKET REVENUE BY GEOGRAPHY, 2020-2025 ($ MILLION)
TABLE 3 GLOBAL BRAIN-COMPUTER INTERFACE OPTIMISTIC CASE SCENARIO MARKET REVENUE BY GEOGRAPHY, 2020-2025 ($ MILLION)
TABLE 4 TABLE 1 GLOBAL BRAIN-COMPUTER INTERFACE CRITICAL CASE SCENARIO MARKET REVENUE BY GEOGRAPHY, 2020-2025 ($ MILLION)
TABLE 5 GLOBAL BCI MARKET BY TYPE, 2013 - 2020 ($ MILLION)
TABLE 6 GLOBAL BCI INVASIVE MARKET BY GEOGRAPHY, 2013 - 2020 ($ MILLION)
TABLE 7 GLOBAL BCI NON-INVASIVE MARKET BY GEOGRAPHY, 2013 - 2020 ($ MILLION)
TABLE 8 GLOBAL BCI PARTIALLY INVASIVE MARKET BY GEOGRAPHY, 2013 - 2020 ($ MILLION)
TABLE 9 GLOBAL BCI MARKET BY APPLICATION, 2013 - 2020 ($MILLION)
TABLE 10 GLOBAL BCI HEALTHCARE MARKET BY GEOGRAPHY, 2013 - 2020 ($ MILLION)
TABLE 11 GLOBAL BCI COMMUNICATION & CONTROL MARKET BY GEOGRAPHY, 2013 - 2020 ($ MILLION)
TABLE 12 GLOBAL BCI GAMING & ENTERTAINMENT MARKET BY GEOGRAPHY, 2013 - 2020 ($ MILLION)
TABLE 13 GLOBAL BCI SMART HOME CONTROLS MARKET BY GEOGRAPHY, 2013 - 2020 ($ MILLION)
TABLE 14 GLOBAL BCI OTHERS MARKET BY GEOGRAPHY, 2013 - 2020 ($ MILLION)
TABLE 15 NORTH AMERICA BCI MARKET BY APPLICATION, 2013 - 2020 ($ MILLION)
TABLE 16 EUROPE BCI MARKET BY APPLICATION, 2013 - 2020 ($ MILLION)
TABLE 17 ASIA-PACIFIC BCI MARKET BY APPLICATION, 2013 - 2020 ($ MILLION)
TABLE 18 LAMEA BCI MARKET BY APPLICATION, 2013 - 2020 ($ MILLION)
TABLE 19 NIHON KOHDEN CORPORATION
TABLE 20 MIND SOLUTIONS INC. SNAPSHOT
TABLE 21 ADVANCED BRAIN MONITORING, INC.
TABLE 22 QUANTUM APPLIED SCIENCE AND RESEARCH, INC. SNAPSHOT
TABLE 23 CADWELL LABORATORIES INC.
TABLE 24 OPENBCI SNAPSHOT
TABLE 25 CORTECH SOLUTIONS, INC.
TABLE 26 NEUROSKY INC. SNAPSHOT
TABLE 27 EMOTIV, INC. SNAPSHOT
TABLE 28 GUGER TECHNOLOGIES OEG SNAPSHOT
LIST OF FIGURES
FIG. 1 TOP IMPACTING FACTORS, BASE CASE (2020-2025)
FIG. 2 TOP INVESTMENT POCKETS
FIG. 3 TOP WINNING STRATEGIES IN BRAIN COMPUTER INTERFACE MARKET
FIG. 4 TOP WINNING STRATEGIES IN BRAIN COMPUTER INTERFACE MARKET BY LEADING PLAYERS
FIG. 5 PORTERS FIVE FORCE ANALYSIS
FIG. 6 VALUE CHAIN ANALYSIS FOR BRAIN COMPUTER INTERFACE MARKET
FIG. 7 REVENUE GENERATED BY NIHON KOHDEN CORPORATION (2012 - 2014)
FIG. 8 SWOT ANALYSIS OF NIHON KOHDEN CORPORATION
FIG. 9 SWOT ANALYSIS OF MIND SOLUTIONS INC.
FIG. 10 SWOT ANALYSIS OF ADVANCED BRAIN MONITORING, INC.
FIG. 11 SWOT ANALYSIS OF QUANTUM APPLIED SCIENCE AND RESEARCH, INC.
FIG. 12 SWOT ANALYSIS OF CADWELL LABORATORIES INC.
FIG. 13 SWOT ANALYSIS OF OPENBCI
FIG. 14 SWOT ANALYSIS OF CORTECH SOLUTIONS, INC.
FIG. 15 SWOT ANALYSIS OF NEUROSKY, INC.
FIG. 16 SWOT ANALYSIS OF EMOTIV, INC.
FIG. 17 SWOT ANALYSIS OF GUGER TECHNOLOGIES OEG