Rise in use of BCI technology in healthcare sector is the major factors that are driving the BCI market.

PORTLAND, OR, UNITED STATES, September 19, 2024 /EINPresswire.com/ -- Allied Market Research published a new report, titled, "The Global Brain Computer Interface Market Size Reach USD 5.46 Billion by 2030 | Growing at a CAGR of 13.9%." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The global brain computer interface market size was valued at $ 1,488.00 million in 2020, and is projected to reach $ 5,463.00 million by 2030, growing at a CAGR of 13.9% from 2021 to 2030.

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Developments in BCI technology and rising number of gaming industries implementing BCI technologies drive the growth of the global brain computer interface market. On the other hand, lack of expertise in implementing the BCI systems, several cyber security threats arising with BCI systems, and ethical issues ensuing due to the implementation of BCI technologies impede the growth to some extent. Nevertheless, increasing adoption of sensor technologies and emerging opportunities in the healthcare sector are expected to create lucrative opportunities in the industry.

The market is segmented on the basis of component, type, application and region. The component segment is bifurcated into, Hardware and software segment, The type segment includes invasive BCI, non-invasive BCI and partially invasive BCI. According to application, the BCI market is segmented into communication & control, healthcare, smart home control, entertainment & gaming, and others. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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Based on application, the healthcare segment held the highest share in 2020, garnering more than half of the global market. The smart home control segment, on the other hand, would manifest the fastest CAGR of 19.0% from 2021 to 2030.

Based on type, the non-invasive segment accounted for more than three-fourths of the total market revenue in 2020, and is expected to retain its dominance by 2030. The invasive segment, however, would register the fastest CAGR of 18.1% throughout the forecast period.

Based on region, North America contributed to nearly two-fifths of the total market share in 2020, and is expected to dominate by 2030. The marker across Asia-Pacific, on the other hand, would cite the fastest CAGR of 16.1% during the forecast period. The other provinces studied in the report include Europe and LAMEA.

The key market players analyzed in the global brain computer interface market report include Nihon Kohden Corporation, Cadwell Laboratories Inc., Integra LifeSciences, OpenBCI, Advanced Brain Monitoring, Inc., Cortech Solutions, Inc., NeuroSky, Inc., Emotiv, Inc., and Guger Technologies Natus Medical Incorporated.

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COVID-19 Scenario-

● During the COVID-19 pandemic, organizations that already deployed brain computer interface earlier have been able to quickly adjust to the new variant of virus. The lesser contact between humans and machines have helped them achieve their business goals irrespective of the unprecedented circumstances.

● Also, people have started investing more money and time in personal technology such as smart wearables, which in turn boosted the global brain computer interface market.

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Key Benefits for Stakeholders

● The study provides an in-depth analysis of the global BCI market along with the current & future trends to elucidate the imminent investment pockets.

● Information about key drivers, restrains, and opportunities and their impact analysis on the BCI market size is provided in the report.

● Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.

● The quantitative analysis of the global BCI market from 2020 to 2030 is provided to determine the market potential.

Thanks for reading this article, you can also get an individual chapter-wise section or region-wise report versions like North America, Europe, or Asia.

If you have any special requirements, please let us know and we will offer you the report as per your requirements.

Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

About Us:

Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm utmost accuracy in our market forecasting. Every data company in the domain is concerned. Our secondary data procurement methodology includes deep presented in the reports published by us is extracted through primary interviews with top officials from leading online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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