The revenue of the global BCI market stood at US$ 383.2 Mn in 2015; this is projected to expand at a CAGR of 14.9% during the forecast period (2016 to 2024) and reach a market size of US$ 1,232.6 Mn by 2024.
Albany, NY -- (SBWIRE) -- 06/03/2016 -- A brain computer interface (BCI) device provides collaboration between the brain and an external device by interpreting electrical signals received from the brain. The global BCI market is segmented on the basis of type, technology, application, and geography. The type segmentation comprises invasive, partially invasive, and noninvasive BCI devices. Invasive BCI devices have electrodes or plates that penetrate the skull and touch the gray matter of the brain. Partially invasive BCI devices penetrate the skull, but rest outside the gray matter of the brain. The revenue of each type segment is included in the technology segmentation covered in the report.
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The technology segmentation covers electroencephalography (EEG), electrocorticography (ECOG), near-infrared spectroscopy (NIRS), functional magnetic resonance imaging (fMRI), and magnetoencephalography (MEG). This detailed segmentation provides upcoming trends in the market according to technological evolution in BCI. The demand for fMRI and MEG is expected to increase gradually in the coming years owing to the high cost of installation. However, the demand for EEG and NIRS is expected to increase due to rising demand for wearable BCI devices.
Based on geographical regions, the report segments the global BCI market into North America, Europe, Asia Pacific, the Middle East and Africa (MEA), and Latin America, which are analyzed in terms of revenue and volume generation. North America is further segmented into the U.S. and Rest of North America, while Europe is divided into EU7, Commonwealth of Independent States (CIS), and Rest of Europe. Asia Pacific is subdivided into Japan, China, South Asia, Australasia, and Rest of Asia Pacific. Also, MEA is further segmented into Gulf Cooperation Council (GCC) countries, South Africa, and Rest of MEA, while Latin America is subdivided into Brazil and Rest of Latin America.
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The report also provides an analysis of the factors that drive and restrain the growth of the BCI market. The report also discusses the prevailing market trends, prospective growth opportunities, and major strategies increasing the popularity of the brain computer device market. It also provides market estimates and forecasts for all the segments in terms of revenue. The report also include porter five model analysis of BCI market.
Major business strategies adopted by key players, their market positioning, and various recent developments have also been identified in the research report. The prominent manufacturers who offer BCI devices include Emotiv Systems, Inc., Cadwell Industries, Inc., Nerusky, Inc., OpenBCI, Advanced Brain Monitoring, Inc., Artinis Medical Systems B.V., ANT Neuro B.V., Nihon Kohden Corporation, Blackrock Microsystems LLC, Elekta AB, NeuroPace Inc., and Mindmaze SA.
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