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

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

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 brain computer interface market size is expected to grow to $2.96 billion in 2027 at a CAGR of 14.4%.

Major Driver In The Brain Computer Interface Market ­– 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 Segments
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

Recent Brain Computer Interface Market Trend – Technological Advancement
To strengthen their market position, major market players are focusing on product innovation. For example, NexStem, a US-based company that specialises in mind-controlled brain-computer interface (BCI) solutions, introduced a non-invasive NexStem headset and NexStem Wisdom software kit in March 2022 that uses real-time machine learning algorithms and allows the system to perform fast computations and calculations of EEG data using GPUs in its algorithms for accurate data interpretation. The non-invasive NexStem headset is made up of 15-pin dry Electroencephalography (EEG) electrodes and 16-channel EEG sensors that can capture and send accurate EEG readings and have a battery life of 6 hours. It is also WiFi and Bluetooth enabled.

Brain Computer Interface Market Prominent Players
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.

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The Brain Computer Interface Global Market Report 2023  provides a comprehensive overview on the brain computer interface market size, trends and drivers, opportunities, strategies, and companies 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.

A brain-computer interface (BCI) is a computer-based system that receives and analyses brain signals before converting them into commands that are sent to an output device to conduct a desired action. The interface allows for direct communication between the brain and the controlled object. BCI’s primary goal is to replace or restore functional function to those who have been incapacitated by neuromuscular illnesses such as amyotrophic lateral sclerosis, cerebral palsy, stroke, or spinal cord injury.

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