Global Brain-Computer Interface Market generated a revenue of USD 1,129.9 million in 2018 and is expected to reach a market value of USD 2,564 Million by 2024, growing at a CAGR of 15.1%
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Global Brain Computer Interface Market Research Report: by Component (Hardware and Software), By Type (Non-invasive, Invasive and Partially Invasive), By Application (Medical, Communication & Control, Gaming & Virtual Reality and Smart Home Control), By Technology (Electro-Encephalography (EEG), Magnetoencephalography (MEG), Electrocorticography (ECoG), Functional Magnetic Resonance Imaging (fMRI), Near-Infrared Spectroscopy (NIRS) and Intracortical Neuro Recording), by End-User (Healthcare, Education & Research and Defense & Aerospace) and by Region (North America, Asia-Pacific, Europe and Rest of the World) - Forecast till 2024
Market analysis
Generally, as analyzed in the year 2018, the market was guided by Asia-Pacific supported by Americas and Europe, separately. Brain-computer interface (BCI), which is also known as brain-machine-interface, acts as a direct interaction interface between the human brain and any external device. The process takes place with the help of electrodes that detect the signals in the human brain. This is achieved through three types of brain computer interfaces - invasive type, somewhat invasive type, and non-invasive type, BCIs are useful at augmenting, assisting, or repairing sensory-motor or human cognitive capabilities. Research on BCIs has been going since the 1970s; however, 1998 marked a significant development in the field of brain mapping as researchers implanted the first brain computer interface in a human being. BCIs, along with imaging technology such as magnetic character imaging and electroencephalography, are widely used in various medical applications to monitor brain signals in order to diagnose and cure various disorders such as vision damage, hearing impairment, Alzheimer's, paralysis, dementia, and cerebral palsy.
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Market segmentation
The Global Brain Computer Interface Market is segmented based on type, application and region respectively. Based on the component, the global brain computer interface market has been segmented into hardware and software. BCI hardware devices are of sub-segmented into three types—invasive type, in which the device/electrodes are entrenched into the grey matter of the brain; partially invasive type, in which the devices are implanted inside the skull but outside the brain matter; and non-invasive type, in which the devices are placed outside the skull on the scalp. The devices consist of various sensors and electrodes for detecting electronic signals in the brain and are programmed to interpret and carry out directions such as legalizing or moving a physical object. BCI devices are used in medical, gaming and device control, and commercial applications.
The Global Brain Computer Interface Market generated a revenue of USD 1,129.9 million in 2018 and is expected to reach a market value of USD 2,564 Million by 2024, growing at a CAGR of 15.1%. An increasing prevalence of brain disorders across the globe and the use of EEG in the diagnosis of sleep disorders are the primary factors guiding the growth of the global brain computer interface market. Also, most of the software tools available are closed source and not available to the public, as they are mainly used for prototyping and in-house testing. On the other hand, some proposals are also released under open source licenses, which allows the user to review, modify, and reorganize the source code. Some of the frameworks available are cross-platform and can be deployed on several different operating systems, whereas others are limited to a specific operational system or require commercial software. BCI2000, OpenViBE, TOBI Common Implementation Platform (CIP), BCILAB, BCI++, xBCI, and BF++ are some of the platforms available for developing BCI systems.
Regional analysis
Geographically the Global Brain Computer Interface Market is split in regions like North & South America, Europe, Asia-Pacific, Middle east and Africa and Rest of the world. The market in Asia-Pacific is expected to register the highest CAGR of 17.3%. The growing adoption of brain computer interfaces among the small- and medium-sized enterprises in North America is expected to drive the growth of the brain computer interfaces market during the forecast period. Among the North American countries, the US accounts for the larger market share owing to the presence of key market players and key investors in the brain computing interface technology, followed by Canada and Mexico. North America dropped for the major market share of 51.8% in 2017, with a market value of USD 525.3 million; the market is expected to disclose a CAGR of 14.3% during the forecast period. Europe was the second-largest market in 2017, valued at USD 265.4 million; the market is projected to exhibit a CAGR of 15.6%. Among the European countries, currently, Germany is dominating the market with a share of 26%, followed by the UK with a 22% market share.
The UK is projected to register the record CAGR of 18.20% during the forecast period in the brain computer interface market due to the increasing adoption of brain computer interface devices among hospitals, universities, and research institutes. Further, the growing adoption of BCIs in countries such as France, Russia, Italy, Spain, Bulgaria, Sweden, and the Netherlands is also expected to boost market growth in Europe.
Major players
The proposed spectators in the Global brain computer interface market are manufacturers, Retailers, distributors, wholesalers, Investors and trade experts, Governments, associations, industrial bodies, etc. The major companies functioning in the Global brain computer interface market are concentrating on firming their global ways by entering untouched markets. The projected onlookers in the Global brain computer interface market are companies like Natus Medical Incorporated, NeuroSky, Inc, NIHON KOHDEN CORPORATION, Compumedics Limited, g.tec, Brain Products GmbH, Advanced Brain Monitoring, Inc, BrainCo, Inc., MindMaze, Neuroelectrics and EMOTIV.
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Regional and country-level analysis of the Global Brain Computer Interface Market, by end-use.
Detailed analysis and profiles of additional market players.
Table of Contents
Global Brain Computer Interface Market Research Report Forecast to 2024
1 EXECUTIVE SUMMARY
1.1 MARKET ATTRACTIVENESS ANALYSIS 15
1.1.1 GLOBAL BRAIN COMPUTER INTERFACE MARKET, BY COMPONENT 15
1.1.2 GLOBAL BRAIN COMPUTER INTERFACE MARKET, BY TYPE 16
1.1.3 GLOBAL BRAIN COMPUTER INTERFACE MARKET, BY APPLICATION 17
1.1.4 GLOBAL BRAIN COMPUTER INTERFACE MARKET, BY END-USER 18
1.2 GLOBAL BRAIN COMPUTER INTERFACE MARKET, BY REGION 19
2 MARKET INTRODUCTION
2.1 DEFINITION 20
2.2 SCOPE OF THE STUDY 20
2.3 MARKET STRUCTURE 20
3 RESEARCH METHODOLOGY
3.1 RESEARCH PROCESS 21
3.2 PRIMARY RESEARCH 22
3.3 SECONDARY RESEARCH 23
3.4 MARKET SIZE ESTIMATION 23
3.5 FORECAST MODEL 24
3.6 LIST OF ASSUMPTIONS 25
4 MARKET INSIGHTS
5 MARKET DYNAMICS
5.1 INTRODUCTION 28
5.2 DRIVERS 29
5.2.1 USE OF ELECTRO-ENCEPHALOGRAPHY IN THE DIAGNOSIS OF SLEEP DISORDERS 29
5.2.2 INCREASING NUMBER OF BRAIN DISORDER PATIENTS ACROSS THE GLOBE 29
5.2.3 INCREASING APPLICATIONS OF SENSORS IN HEALTHCARE SECTOR 30
5.2.4 INCREASING USE OF BRAIN CONTROL INTERFACE IN CONTROLLING IOT DEVICES 30
5.2.5 DRIVERS IMPACT ANALYSIS 31
5.3 RESTRAINTS 31
5.3.1 TECHNICAL SHORTCOMINGS OF BCI TECHNOLOGY 31
5.3.2 RESTRAINTS IMPACT ANALYSIS 32
5.4 OPPORTUNITIES 32
5.4.1 HIGH-PERFORMANCE COMMUNICATION FOR PEOPLE WITH PARALYSIS 32
5.4.2 PROVIDING BETTER SMART HOME CONTROL SYSTEM 32
5.4.3 EMERGING USE OF BCI IN GAMING ENTERPRISES 33
5.5 REGULATIONS 33
5.5.1 UNITED STATES 33
5.5.2 EUROPEAN UNION 34
5.5.3 CHINA 34
5.5.4 INDIA 34
6 MARKET FACTOR ANALYSIS
6.1 PORTER’S FIVE FORCES MODEL 35
6.1.1 THREAT OF NEW ENTRANTS 36
6.1.2 BARGAINING POWER OF SUPPLIERS 36
6.1.3 BARGAINING POWER OF BUYERS 36
6.1.4 THREAT OF SUBSTITUTES 36
6.1.5 INTENSITY OF RIVALRY 36
7 GLOBAL BRAIN COMPUTER INTERFACE MARKET, BY COMPONENT
7.1 OVERVIEW 37
7.2 HARDWARE 38
7.3 SOFTWARE 38
8 GLOBAL BRAIN COMPUTER INTERFACE MARKET, BY TYPE
8.1 OVERVIEW 39
8.2 NON-INVASIVE 40
8.3 INVASIVE 40
8.4 PARTIALLY INVASIVE 40
9 GLOBAL BRAIN COMPUTER INTERFACE MARKET, BY APPLICATION
9.1 OVERVIEW 41
9.2 MEDICAL 42
9.3 COMMUNICATION & CONTROL 42
9.4 GAMING & VIRTUAL REALITY 42
9.5 SMART HOME CONTROL 42
10 GLOBAL BRAIN COMPUTER INTERFACE MARKET, BY TECHNOLOGY
10.1 OVERVIEW 43
10.2 ELECTRO-ENCEPHALOGRAPHY (EEG) 43
10.3 MAGNETOENCEPHALOGRAPHY (MEG) 43
10.4 ELECTROCORTICOGRAPHY (ECOG) 43
10.5 FUNCTIONAL MAGNETIC RESONANCE IMAGING (FMRI) 44
10.6 NEAR-INFRARED SPECTROSCOPY (NIRS) 44
10.7 INTRACORTICAL NEURO RECORDING 44
11 GLOBAL BRAIN COMPUTER INTERFACE MARKET, BY END-USER
11.1 OVERVIEW 45
11.2 HEALTHCARE 46
11.3 EDUCATION & RESEARCH 46
11.4 DEFENSE & AEROSPACE 46
12 GLOBAL BRAIN COMPUTER INTERFACE MARKET, BY REGION
12.1 OVERVIEW 47
12.2 NORTH AMERICA 48
12.2.1 U.S. 53
12.2.2 CANADA 55
12.2.3 MEXICO 57
12.3 EUROPE 59
12.3.1 GERMANY 64
12.3.2 UK 66
12.3.3 FRANCE 68
12.3.4 ITALY 70
12.3.5 SPAIN 72
12.3.6 REST OF EUROPE 74
12.4 ASIA-PACIFIC 76
12.4.1 CHINA 81
12.4.2 JAPAN 83
12.4.3 REST OF ASIA-PACIFIC 85
12.4.4 INDIA 87
12.5 REST OF THE WORLD 89
12.5.1 MIDDLE EAST & AFRICA 94
12.5.2 SOUTH AMERICA 96
13 COMPETITIVE LANDSCAPE
13.1 OVERVIEW 98
13.2 KEY PLAYERS MARKET SHARE, 2018 (%), GLOBAL BRAIN COMPUTER INTERFACE MARKET 98
14 COMPANY PROFILE
14.1 NATUS MEDICAL INCORPORATED 100
14.1.1 COMPANY OVERVIEW 100
14.1.2 FINANCIAL OVERVIEW 101
14.1.3 PRODUCTS/SERVICES/SOLUTIONS OFFERED 101
14.1.4 KEY DEVELOPMENTS 102
14.1.5 SWOT ANALYSIS 102
14.1.6 KEY STRATEGIES 102
14.2 EMOTIV 103
14.2.1 COMPANY OVERVIEW 103
14.2.2 PRODUCTS/SERVICES/SOLUTIONS OFFERED 103
14.2.3 KEY DEVELOPMENTS 104
14.2.4 SWOT ANALYSIS 104
14.2.5 KEY STRATEGIES 104
14.3 NEUROSKY, INC. 105
14.3.1 COMPANY OVERVIEW 105
14.3.2 PRODUCTS/SERVICES/SOLUTIONS OFFERED 105
14.3.3 KEY DEVELOPMENTS 105
14.3.4 SWOT ANALYSIS 106
14.3.5 KEY STRATEGIES 106
14.4 NIHON KOHDEN CORPORATION. 107
14.4.1 COMPANY OVERVIEW 107
14.4.2 FINANCIAL OVERVIEW 107
14.4.3 PRODUCTS/SERVICES/SOLUTIONS OFFERED 108
14.4.4 KEY DEVELOPMENTS 108
14.4.5 SWOT ANALYSIS 108
14.4.6 KEY STRATEGIES 108
14.5 COMPUMEDICS LIMITED 109
14.5.1 COMPANY OVERVIEW 109
14.5.2 FINANCIAL OVERVIEW 109
14.5.3 PRODUCTS/SERVICES/SOLUTIONS OFFERED 110
14.5.4 KEY DEVELOPMENTS 110
14.5.5 SWOT ANALYSIS 111
14.5.6 KEY STRATEGIES 111
14.6 G.TEC 112
14.6.1 COMPANY OVERVIEW 112
14.6.2 PRODUCTS/SERVICES/SOLUTIONS OFFERED 112
14.6.3 KEY DEVELOPMENTS 112
14.6.4 SWOT ANALYSIS 113
14.6.5 KEY STRATEGIES 113
14.7 BRAIN PRODUCTS GMBH. 114
14.7.1 COMPANY OVERVIEW 114
14.7.2 PRODUCTS/SERVICES/SOLUTIONS OFFERED 114
14.7.3 KEY DEVELOPMENTS 115
14.7.4 SWOT ANALYSIS 115
14.7.5 KEY STRATEGIES 115
14.8 ADVANCED BRAIN MONITORING, INC. 116
14.8.1 COMPANY OVERVIEW 116
14.8.2 PRODUCTS/SERVICES/SOLUTIONS OFFERED 116
14.8.3 KEY DEVELOPMENTS 116
14.8.4 KEY STRATEGIES 116
14.9 BRAINCO, INC. 117
14.9.1 COMPANY OVERVIEW 117
14.9.2 PRODUCTS/SERVICES/SOLUTIONS OFFERED 117
14.9.3 KEY DEVELOPMENTS 117
14.9.4 SWOT ANALYSIS 118
14.9.5 KEY STRATEGIES 118
14.10 MINDMAZE 119
14.10.1 COMPANY OVERVIEW 119
14.10.2 PRODUCTS/SERVICES/SOLUTIONS OFFERED 119
14.10.3 KEY DEVELOPMENTS 119
14.10.4 SWOT ANALYSIS 120
14.10.5 KEY STRATEGIES 120
14.11 NEUROELECTRICS 121
14.11.1 COMPANY OVERVIEW 121
14.11.2 PRODUCTS/SERVICES/SOLUTIONS OFFERED 121
14.11.3 KEY DEVELOPMENTS 121
14.11.4 SWOT ANALYSIS 122
14.11.5 KEY STRATEGIES 122
15 ANALYST INSIGHTS & CURRENT MARKET TRENDS
15.1 KEY FINDINGS 123
15.2 RECOMMENDATIONS 123
15.3 CONCLUSION 124
16 APPENDIX
16.1 LIST OF ABBREVIATIONS 125
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