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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Heightened Technological Advancements and the Growing Incidents of Neurodegenerative Conditions to Drive the Global Brain Computer Interface Industry
The brain computer interface industry is estimated to witness a significant growth in the forecast period due to the considerable investments being made in the research and development of BCI technology in multiple industry verticals. In addition, the rising problems of neurological illnesses around the globe are expected to provide a thrust to the overall growth of the market, as BCI technology offers potentially promising mechanisms that are expected to efficiently help in the rehabilitation and improvement of patients suffering from neurological disorders.
According to the Neurological Disorders Report published by the WHO in 2006, a 12% increase contributed by neurological disorders in the DALYs (disability-adjusted life years) is predicted in the year 2030, globally. Out of which, 66% increase is projected by Alzheimer's and Dementia cases between 2005 to 2030. DALYs are used to calculate the overall burden of disease by counting the number of years a person lost due to a disability, an illness, or early death.
Brain Computer Interface Market Report Snapshots
Brain Computer Interface Market Size
Brain Computer Interface Market Share
Brain Computer Interface Market Growth
Brain Computer Interface Companies
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global brain computer interface market attained a value of nearly USD 2.23 billion.
The market is projected to grow at a CAGR of 16% between 2024 and 2032.
The major drivers of the market include the increasing demand for immersive virtual reality devices in the gaming and entertainment sector, the growing geriatric population, and the rising cases of neurological disorders worldwide.
The key market trends guiding the market growth include the increasing technological advancements, growing investments in research and development (R&D) of BCI technology, and rising applications of brain computer interfaces across various industries.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The significant types of the brain computer interface include invasive, non-invasive, and partially invasive.
The major applications of brain computer interface include healthcare, communication and control, gaming and entertainment, and smart home control, among others.
The key players in the brain computer interface market are Advanced Brain Monitoring, Inc., CorTec GmbH, EMOTIV Inc., Natus Medical Incorporated, and g.tec medical engineering GmbH, among others.
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