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Based on type, the non-invasive segment is predicted to hold a significant market share in the brain computer interface industry, owing to its feasibility in usage, as non-invasive BCI does not require a person to undergo surgery. These can be used in headsets and gaming sticks, among others. Meanwhile, in terms of application, the medical segment is estimated to make a considerable contribution to the overall growth of the global brain computer interface industry due to its increased research and development in the implementation of BCI mechanisms in helping patients with severe disorders such as Parkinson's, epilepsy, and Alzheimer's, among others.
North America is estimated to hold a substantial share of the brain computer interface industry in the forecast period. This growth can be attributed to the increased investments in the research and development of the BCI technology and several clinical trials being conducted in the region. This is due to the rising number of cases of neurological disorders in the region and a growing geriatric population, as most cases of a neurological disorders can be attributed to old age. According to the World Population Report issued by the UN in 2019, population ageing is expected to increase exceedingly in all parts of the world. The ratio in North America is expected to rise from 30 persons aged above 65 per 100 people in 2019 to 49 people aged above 65 per 100 people in 2050. Another factor influencing the market growth is the increasing demand for virtual and immersive gaming experiences through devices such as VR headsets.
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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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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