Brain Computer Interface Market Transforming Business with Future Market Size A Roadmap to Success | Nihon Kohden Corporation, Quantum Applied Science and Research

Brain computer interface is also referred to as direct neural interface, synthetic telepathy interface, brain machine interface or mind machine interface. Brain computer interface (BCI) is a system that facilitates a direct communication channel between the brain and the peripheral devices, which are used to calibrate the movement in physically challenged individuals. A BCI system records the brain signals from the surface of the cortex, from devices implanted within the brain or from the sensors placed over the scalp. These signals are then transmitted to the peripheral device that enables the user to perform numerous tasks. With the help of a BCI system, the paralyzed and handicapped individuals can overcome their physical challenges and perform various day-to-day tasks.

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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.

The primary function of the BCI device is to intercept the electrical signals that pass between the neurons and transmit them to an external device. Technological developments in the field of computation, human sensing, entertainment, gaming, and communication and control, is a major factor that will drive the BCI market.

Intensive research carried out to develop a cure for fatal brain disorders and injuries, and the rising number of government funding with a view to encourage BCI research studies are likely to boost the market. However, the ethical problem faced during the research i.e., to use BCI to treat patients whose informed consent cannot be obtained, can act as a restraint for the BCI market. In most of the cases, it is not possible to define or restrict the amount of information that can be retrieved from the patient. BCI is comparatively a na?ve technology and many of its applications are yet to be commercialized and are a part of laboratory research.

The brain computer interface market is segmented based on type, application and geography. The type segment includes invasive BCI, non-invasive BCI and partially invasive BCI technology. Based on the analysis and forecast, the non-invasive BCI technology segment is expected to lead the market from 2014 to 2020. On the basis of application, the global BCI market is segmented into communication and control, healthcare, smart home control, gaming and entertainment and others. The healthcare application of BCI technology is forecasted to be the largest market followed by the gaming and entertainment segment.

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Key highlights of the report include

Market Size and Growth Analysis:

Detailed examination of the market size and growth trajectory during the forecast period.
In-depth insights into the factors driving market expansion and the challenges restraining growth.

Accurate revenue projections and trends shaping the market landscape.
Strategic Analysis:

Identification of key drivers influencing market growth and strategic recommendations to leverage emerging opportunities.
Exploration of market trends and future prospects to aid in informed decision-making.
Strategies for market players to capitalize on growth areas and navigate challenges effectively.

Competitive Landscape Evaluation:

Comprehensive profiles of industry leaders, offering a thorough understanding of their market presence and influence.
Analysis of market share held by key companies and their impact on the overall market dynamics.
Assessment of the product portfolios of major players, highlighting key offerings and innovations.

Recent Developments and Innovations:

Coverage of the latest advancements and innovations within the industry.
Insightful examination of recent developments by key market players, including product launches, partnerships, and acquisitions.
Evaluation of the impact of these developments on the overall market landscape.

Competitive Strategies:

Examination of the competitive strategies employed by leading companies to gain a competitive edge.
Analysis of successful tactics utilized in the market, providing valuable insights for other players.
Benchmarking of competitive strategies to help businesses formulate effective plans for sustainable growth.

KEY BENEFITS

The study provides an in-depth analysis of the brain computer interface market with current and future trends to elucidate the imminent investment pockets in the market
Current and future trends are outlined to determine the overall attractiveness and single out profitable trends to gain a stronger foothold in the market
The report provides information regarding key drivers, restraints and opportunities with impact analysis
Quantitative analysis of the current market and estimations through 2013-2020 are provided to showcase the financial appetency of the market
Porter's five forces model and a SWOT analysis of the industry illustrate the potency of the buyers and suppliers participating in the market
Value chain analysis in the report provides a clear understanding on the roles of stakeholders involved in the value chain

KEY PLAYERS

Nihon Kohden Corporation
Mind Solutions Inc.
Advanced Brain Monitoring, Inc.
Quantum Applied Science and Research, Inc.
Cadwell Laboratories Inc.
OpenBCI
Cortech Solutions, Inc.
NeuroSky, Inc.
Emotiv, Inc.
Guger Technologies OEG

KEY MARKET SEGMENTATION
The market is segmented on the basis of type, application and geography.

MARKET BY TYPE

Invasive
Non-invasive
Partially invasive

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MARKET BY APPLICATION

Healthcare
Communication and control
Gaming and entertainment
Smart home control
Others

MARKET BY GEOGRAPHY

North America
Europe
Asia-Pacific
LAMEA

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