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Brain-Computer Interface Global Study Report 2024-2029:

Posted on by darion

Dublin, July 01, 2024 (GLOBE NEWSWIRE) — “Global Brain-Computer Interface Market by Product (Non-Invasive, Invasive, Semi-Invasive), Technology (EEG, MEG, ECoG, fMRI), Application (Disability/Rehabilitation, Assistive Technologies, Mental Health, Research), End-User – Forecast to 2029” report added Research & Marketing.com offering.

The brain-computer interface market is expected to reach USD 506 million by 2029, up from USD 262 million in 2024, registering a compound annual growth rate (CAGR) of 14.1% during the forecast period

Rising prevalence and incidence of neurological disorders, growing demand for non-invasive and wearable BCI devices, and increasing investment in R&D, and growing demand for non-invasive and wearable BCI devices are factors that will drive the growth of this market. On the other hand, stringent regulatory requirements and associated high cost of BCI systems may hinder the adoption of brain-computer interface solutions to some extent during the forecast period.

The hardware segment is expected to record the highest growth during the forecast period by component.

Based on components, the brain-computer interface market is segmented into hardware and software. The hardware segment is expected to witness the highest growth rate during the forecast period. The growth in this market can be attributed to the increasing push for adoption of wearable BCI products such as headsets, headphones, and others in response to significant investments in hardware development by companies and research institutions.

The non-invasive brain-computer interface segment is expected to register the highest growth during the forecast period of the brain-computer interface market, by product type.

Based on product type, the brain-computer interface market is segmented into non-invasive brain-computer interface, semi-invasive brain-computer interface, and invasive brain-computer interface. The non-invasive brain-computer interface segment is expected to witness the highest growth rate during the forecast period. This segment is expected to witness significant growth due to elimination of the need for surgical implantation and increasing adoption of this segment among end-users.

The electroencephalography (EEG) segment is expected to register the highest growth over the forecast period according to end users.

Based on technology, the brain-computer interface market is segmented into electroencephalography (EEG), functional magnetic resonance imaging (fMRI), magnetoencephalography (MEG), electrocorticography (ECoG), and functional near-infrared spectroscopy (fNIRS). The electroencephalography (EEG) segment is expected to register the highest growth rate during the forecast period. The use of EEG is expected to increase due to the large number of entities involved in the development of EEG equipment and the development of EEG-based neurological testing.

The largest part of the application segment of the brain-computer interface market was rehabilitation/disability rehabilitation

On the basis of application, the brain-computer interface market is segmented into disability recovery/rehabilitation, assistive technology, and other applications. The rising incidence of neurological conditions such as stroke, spinal cord injury and amyotrophic lateral sclerosis (ALS), along with rising healthcare spending and increasing research and development initiatives, is expected to drive demand for disability restoration/rehabilitation solutions among end users.

The rehabilitation centers segment is expected to register the highest growth during the forecast period according to end-users.

Based on end user, the brain-computer interface market is segmented into hospitals and clinics, rehabilitation centers, home care facilities, and other end users. The rehabilitation center segment is expected to witness the highest growth rate during the forecast period. The growth in the use of brain-computer interface in rehabilitation centers is due to their commitment to leverage technological advancements, lower costs, easy availability, and shorter waiting times compared to hospitals to improve patient outcomes.

The Asia Pacific region will witness the highest growth of the brain-computer interface market during the forecast period.

The global brain-computer interface market is segmented into five major regions, namely, North America, Europe, APAC, Latin America, and Middle East & Africa. In 2023, the Asia-Pacific region was expected to record the highest growth in brain-computer interface solutions during the forecast period. Factors such as affordable and skilled labor, rising disposable incomes, rising incidence of neurodegenerative diseases, and increasing government focus on healthcare reforms in the region are expected to drive the growth of the brain-computer interface market in the Asia-Pacific region.

This report provides insight into the following metrics:

  • Analysis of key drivers (increasing incidence and prevalence of neurological disorders, growing demand for non-invasive and portable BCI devices, increasing R&D investments), constraints (high cost of BCI devices and stringent regulatory requirements), opportunities (growth opportunities in emerging markets and growing applications of BCI technology) and challenges (shortage of trained medical professionals and concerns about data security and privacy)
  • Product Development/Innovation: Detailed information on upcoming technologies, R&D activities and product launches in the brain-computer interface market.
  • Market Development: Comprehensive information on lucrative emerging markets. The report analyzes the markets for various types of brain-computer interface solutions across regions.
  • Market Diversification: Comprehensive information about solutions, untapped regions, latest developments, and investments in the Brain-Computer Interface market.
  • Competitive Assessment: Detailed assessment of market shares, strategies, products, distribution networks, and manufacturing capabilities of leading players in the brain-computer interface market.

Key Features:

Report attribute Details
number of pages 242
Forecast period 2024 – 2029
Estimated Market Value (USD) 2024 $262 million
Projected market value (USD) by 2029 $506 million
Compound Annual Growth Rate 14.1%
Regions covered Global

Featured companies

  • Neurosky
  • Moving
  • Neuro Ant
  • G.Tec Medical Engineering GmbH
  • Nervous
  • Advanced Brain Monitoring, Inc.
  • Brain Products GmbH
  • Cgx
  • Neuro Wave
  • Bitbrain Technologies
  • Open Bci
  • Artinis Medical Systems
  • Paradromics
  • Brainco, Inc.
  • Labyrinth of Minds
  • Knowledge
  • Blackrock Neurotech
  • Cortec GmbH
  • Interaxon Limited Liability Company
  • Neurolutions Limited Liability Company
  • Conscious Laboratories
  • Kernel
  • Aavaa Inc.
  • Next
  • Birger’s mind

For more information on this report, please visit https://www.researchandmarkets.com/r/sfzaez

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  • Global brain-computer interface market