Brain Machine Interface Market Forecasts to 2028 – Global Analysis By Application (Military and Defense, Healthcare, Gaming and Entertainment, Communication and Control, Smart Home Controls, Other Applications) and By Geography
According to Stratistics MRC, the Global Brain Machine Interface Market is accounted for $1.27 billion in 2020 and is expected to reach $3.17 billion by 2028 growing at a CAGR of 12.1% during the forecast period. Factors such as the ongoing developments in the field of neuroscience, miniaturization of components, and increasing prevalence of brain disorders are driving the growth of the market. However, lack of skilled professionals is hampering the growth of the market.
Brain machine interface translates neuronal information into commands capable of controlling external software or hardware such as a computer or robotic arm. It is largely being used in the research studies to understand neuromuscular disorders and develop effective treatment for those conditions.
Based on the application, the healthcare segment is anticipated to expand at a rapid pace during the forecast period owing to the growing need to provide efficient solutions for the patients suffering from various neurological conditions. By geography, North America is going to have high growth during the forecast period which can be attributed to the growing popularity of virtual gaming and the presence of numerous brain machine interface providers in the region.
Some of the key players profiled in the Brain Machine Interface Market include Advanced Bionics, BrainCo, Bitbrain, Guger Technologies OG, Neuroelectrics, Mind Solutions Corp., Natus Medical, NeuroSky, Compumedics Ltd, Interactive Productline, IWinks, Emotiv Corp., InteraXon, Ripple, and ANT Neuro.
• Partially Invasive
• Military and Defense
• Gaming and Entertainment
• Communication and Control
• Smart Home Controls
• Other Applications
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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