The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s brain computer interface market report forecasts the brain computer interface market size to grow to $2.96 Billion by 2027, with a CAGR (compound annual growth rate) of more than 14%.

Learn More On The Brain Computer Interface Market Report 2023 – https://www.thebusinessresearchcompany.com/report/brain-computer-interface-global-market-report

Brain Computer Interface Market Size Forecast
The global brain computer interface market is expected to grow from $1.49 billion in 2022 to $1.72 billion in 2023 at a compound annual growth rate (CAGR) of 16.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The brain computer interface market size is expected to grow to $2.96 billion in 2027 at a CAGR of 14.4%.

North America held the largest brain computer interface market share, and Asia-Pacific was the fastest-growing region in 2022.

Key Brain Computer Interface Market Driver ­– Increase In Global Geriatric Population
For instance, according to the World Health Organization (WHO), a Switzerland-based agency of the United Nations responsible for international public health, approximately 1 billion population aged 60 years and over in the year 2021 and expected to reach 1.4 billion in the year 2030 that equals 1 in 6 people in the world will be aged 60 years or over. Therefore, the increasing global geriatric population driving the growth of the brain-computer interfaces market.

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Key Brain Computer Interface Market Trend – Technological Advancement
Major companies operating in the market are focused on product innovations to reinforce their position. For instance, in March 2022, NexStem, a US-based company operating in mind-controlled brain-computer interface (BCI) solutions, introduced a non-invasive NexStem headset and NexStem Wisdom software kit that uses machine learning algorithms in real-time and enables the system to make fast computations and calculations of EEG data using GPUs in its algorithms for accurate data interpretation. Non-invasive NexStem headset consists of 15-pin dry Electroencefalography (EEG) electrodes and 16-channel EEG sensors which are capable of capturing and delivering accurate EEG signals and also offer 6 hours of battery life it is WiFiand luetooth enabled.

Brain Computer Interface Market Segment
1) By Type: Invasive Brain Computer Interface, Partially Invasive Brain Computer Interface, Non Invasive Brain Computer Interface, Other Types
2) By Component: Hardware, Software
3) By Application: Healthcare, Disabilities Restoration, Brain Function Repair, Smart Home Control, Communication and Control, Entertainment and Gaming
4) By End-User: Medical, Military, Other End-Users

Brain Computer Interface Market Major Players and Strategies
Major players in the brain computer interface market are Natus Medical Incorporated, NextMind SAS, CompumedicsNeuroscan, Brain Products GmbH, Integra LifeSciences Corporation, Emotiv Inc., NeuroSky Inc., ANT Neuro GmbH, Neuroelectrics, Nihon Kohden Corporation, Blackrock Neurotech, Cadwell Industries Inc., Advanced Brain Monitoring, NIRx Medical Technologies, OpenBCI, g.tec medical engineering GmbH, Medtronic plc, MindMaze, CGX A Cognionics Company, Mind Technologies Inc., and CorTec GmbH.

In May 2022, Blackrock Neurotech, a US-based company operating in brain-computer interfaces, acquired MindX for an undisclosed amount. Through this acquisition, Blackrock Neurotech aims to strengthen its product portfolio in neurocomputing technology to boost interaction between patients, their physical environments, and the digital world to offer increased quality of life and autonomy. MindX is a US-based company that provides advanced brain-computer interface products.

The Brain Computer Interface Global Market Report 2023 covers regional data on brain computer interface market size, brain computer interface market trends and drivers, opportunities, strategies, and brain computer interface market competitor analysis. The countries covered in the brain computer interface market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Brain-computer interface (BCI) refers to a computer-based system that collects brain signals, analyses them, and converts them into commands that are sent to an output device to perform a desired activity. The interface enables a direct communication pathway between the brain and the object to be controlled. The main goal of BCI is to replace or restore useful function to people disabled by neuromuscular disorders such as amyotrophic lateral sclerosis, cerebral palsy, stroke, or spinal cord injury.

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