Brain Computer Interface Market Opportunities and Trends Report by 2030

Brain Computer Interface Market Growth & Trends

The global brain computer interface market size is expected to reach USD 6.18 billion by 2030, according to a new report by Grand View Research, Inc., registering a CAGR of 17.16% over the forecast years. Brain Computer Interface (BCI) is a revolutionary technology that facilitates direct contact between peripheral electronic devices calibrating the movement and a functional brain in physically challenged people. This system records the brain signal from the sensors that are placed over the scalp or devices implanted in the brain. Compumedics, in its annual report 2021, stated that it is demonstrating strong signs of growth in the future and is returning to its normal business after the COVID-19 pandemic.

U.S. brain computer interface market size, by product, 2020 - 2030 (USD Million)

Brain Computer Interface Market Segmentation

Grand View Research has segmented the global brain computer interface market on the basis of product, application, end use, and region:

Based on the Product Insights, the market is segmented into Invasive BCI, Partially invasive BCI, Non-invasive BCI.

  • Non-invasive BCI held the largest revenue share of over 86.00% in 2021 owing to the high applicability of this technology to products, such as headsets, amplifiers, and gaming sticks, contributing to the massive revenue generation. This system is considered to be the safest as the approach is less intrusive, which is further fueling the segment growth.
  • The invasive segment is expected to witness the fastest CAGR over the forecast period owing to the ability of this technology to provide the functionality to paralyzed people through brain-controlled robotic legs & arms and restore vision by connecting the brain to an external camera. The invasive device is positioned in the grey matter and is prone to building up scar tissue.
  • Partially invasive BCI is also expected to show significant growth over the forecast period owing to its easy adaptability and various technological advancements.

Based on the Application Insights, the market is segmented into Healthcare, Smart Home Control, Communication and Control, Entertainment and Gaming.

  • The healthcare segment captured the largest revenue share of more than 62.00% in 2021 owing to the high applicability of this technology in the treatment of sleep disorders, neurological diseases, paralytic patients, and in studying neuroscience. Moreover, technological advancement & increasing number of initiatives by the key industry players are further fueling the segment growth.
  • The smart home control segment is projected to witness a lucrative CAGR due to increased demand for a better lifestyle. With smart home controls, people are experiencing better convenience and comfort right from security monitoring, operating entertainment systems & appliances to maintaining connectivity. The aforementioned factors are expected to propel the segment growth over the forecast period.

Based on the End-use Insights, the market is segmented into Medical, Military, and Others.

  • The medical end-use segment dominated the market in 2021 and accounted for the maximum share of more than 45.5% of the global revenue owing to its application in assisting disabled patients. The BCI technology assists in the movement of patients suffering from diseases, such as Parkinsonism, epilepsy, paralysis, and Alzheimer’s, to carry out activities independently, such as an operating wheelchair, prosthetics, and various other instruments.
  • The military end-use segment is expected to register the fastest growth rate over the forecast period on account of to increased usage of BCI during war activities. The development of mobile robots that can function as weapon-equipped drones in war zones and advanced communication systems, such as Defense Advanced Research Projects Agency’s (DARPA) “Silent Talk”, which would enable soldiers and military personnel to give commands via telepathic communication, is anticipated to contribute to the growth of this segment.

Brain Computer Interfaces Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Market Share Insights

  • June 2020: Ripple Neuro partnered with Brain Electrophysiology Laboratory Company, LLC. The partnership was anticipated to offer seamless integration of Ripple Neuromed’s Quest & Nomad neurophysiology research platform with BEL’s Geodesic Head Web HD-EEG sensor technology.
  • May 2020: The company partnered up with CGX, to provide CGX Quick System that is a dry electrode, high-grade, and wearable headset. Thus, enhancing the product portfolio.

Key Companies Profile & Market Share Insights

There are various small- and large-scale manufacturers offering products, resulting in intense competition among the manufacturers. The industry players are increasing their focus on strategic partnerships, such as mergers and acquisitions, new product launches & partnerships & collaborations to get maximum revenue share in this sector.

Some of the prominent players operating in the global brain computer interfaces market include,

  • Natus Medical Inc.
  • tec medical engineering GmbH
  • Medtronic
  • Compumedics Neuroscan
  • Brain Products GmbH
  • Integra Lifesciences Corp.
  • Advanced Brain Monitoring, Inc.
  • EMOTIV
  • NeuroSky
  • Interaxon, Inc.
  • ANT Neuro
  • Neuroelectrics
  • Ripple Neuro
  • NIRx Medical Technologies, LLC
  • OpenBCI
  • CGX, A Cognionics Company

Order a free sample PDF of the Brain Computer Interfaces Market Intelligence Study, published by Grand View Research.

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