Brain Computer Interface (BCI) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023

Albany, NY -- (SBWire) -- 04/21/2016 --A new market intelligence study by Transparency Market Research presents a detailed overview of the global brain computer interface market. The report is titled "Brain Computer Interface (BCI) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023." The report presents a complete study of the market's structure, industry trends, growth drivers, and restraints. It provides market forecasts for the coming years. The report describes the micro and macro factors affecting the market's performance, which proves to be beneficial for both existing players and new entrants.

The discovery of brain waves has opened a whole new world of opportunities for physicians working in the field of neuroscience. The physicians realized that the nature of thought transmission is in the form of condensed electrical impulses, which are known as brain waves. With increasing advancements in technology, computers have got the ability of interpreting and recording the activities of a brain. Brain computer interfaces (BCI) are devices that help a neurologist monitor, record, and translate the brain waves of a patient into a recordable data interpretation of the mind state.

The report segments the global brain computer science interface market on the basis of application, technology, geography, and end use. On the basis of application, the market is segmented into neurogaming, neuroprosthetics, defense, and neuroanalysis (psychology). Out of these, the neuroanalysis and neuroprosthetics applications are the largest segments commercially. The neurogaming industry is nascent and will rise with increased funding and increasing number of neurogaming enthusiasts.

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On the basis of technology, the brain computer science interface market is segmented into non-invasive brain computer interface, invasive brain computer interface, and others such as semi-invasive brain computer interface, EEG-based brain computer interface. Demand for non-invasive BCI is expected to grow at a rapid pace in the forthcoming years due to its benefits such as minimal chances of getting infected and causing the least amount of discomfort, as electrodes are used. The invasive BCI segment is expected to grow at a slower pace compared to non-invasive brain computer interfaces in the coming years.

On the basis of end use, the global brain computer science interface market is segmented into forensic laboratories, hospitals and rehabilitation centers, defense establishments, people interested in neurogaming, and psychological research centers such as mental institutions or asylums. Out of these, the largest market for BCI devices was hospitals and rehabilitation centers, followed by psychological research centers, where BCI helps in understanding the progress of healing of the mind to give a feedback as to whether the therapy provided to the patients is effective.

The key market players profiled in the report are: Emotiv Systems, Neuro Sky, Inc., Texas Instruments, Inc. (Open BCI), OCZ Storage Solutions, Inc., Mindplay, Inc., Interaxon, Inc., and PLX Devices, Inc.

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