Covid 19 Brain Computer Interface Market - Emerging Technologies and Industry Growth by Forecast to 2024

The Global Brain-Computer Interface Market is spanned across North America, Europe, Asia-Pacific, and the rest of the world. North America is expected to account for the largest share in the brain-computer interface market, with a significant growth rate during the forecast period. For the purpose of analysis, North America has been categorized into three regions—the US, Canada, and Mexico. During the forecast period, the US is expected to be the leading region in terms of market share, growing at a CAGR of 15.1%, followed by Canada with 13.6% and Mexico with 11.6%.

The market is enduring an exacting period with its robust growth coming to an abrupt halt in light of the COVID-19 pandemic. MRFR report on market highlights the future prediction and the growth alternatives that can be created.

The Asia-Pacific brain-computer interfaces market acquired 17% market share in terms of revenue with China dominating the market with a 36% share, followed by Japan with a 27% market share. The market in India is expected to register the fastest growth due to rising applications of BCIs among the healthcare and education & research sectors in India. Other countries such as South Korea, Malaysia, Australia, New Zealand, Indonesia, Singapore, and the Philippines are experiencing considerable demand and adoption of BCI devices. Further, growing virtualization in the gaming industry is driving the adoption of BCIs for game control in the region, which is thereby expected to fuel the market growth for brain-computer interfaces in the region.

Europe accounts for the second-largest share in the global brain-computer interface market. Europe is witnessing a high adoption rate of brain-computer interfaces in the healthcare, and education & research sectors. The UK is projected to register the highest CAGR of 18.20% during the forecast period in the brain-computer interfaces 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.

The rest of the world's regional segment is witnessing a moderate adoption of brain-computer interfaces among countries such as Brazil, Argentina, Peru, Colombia, Chile, the UAE, Saudi Arabia, Israel, and South Africa. Moreover, the growing healthcare sector in these countries presents a growth opportunity for the key market players operating in the market.

Covid 19 Brain Computer Interface Market is expected to reach USD 2,564 million at a CAGR of over 15.1% by the end of the forecast period 2019–2024.

Segmentation

The global brain-computer interface market has been segmented on the basis of component, type, application, technology, end-user, and region. The market, by component, has been segmented into hardware, and software. By type, the global brain computer interface market has been segmented into non-invasive, invasive, and partially invasive. By application, the global brain computer interface market has been segmented into medical, communication & control, gaming & virtual reality, and smart home control. By technology, the market has been segmented into electroencephalography (EEG), magnetoencephalography (MEG), electrocorticography (ECoG), functional magnetic resonance imaging (fMRI), near-infrared spectroscopy (NIRS), and intracortical neuronal recording. By end-user the global brain-computer interface market is segmented into healthcare, education & research, and defense & aerospace.

Prominent Players

Some of the Prominent Players in the global Brain-computer interface market are Natus Medical Incorporated, EMOTIV, NeuroSky, Inc, NIHON KOHDEN CORPORATION, Compumedics Limited, g.tec, Brain Products GmbH, Advanced Brain Monitoring, Inc, BrainCo, Inc., MindMaze, and Neuroelectrics.

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