Global Brain Computer Interface Market forecast 2013 - 2020

Topics: Technology, Video game industry, Brain–computer interface Pages: 2 (641 words) Published: April 22, 2015
Global Brain Computer Interface Market is Expected to Reach $ 1.46 Billion, by 2020 - Allied Market Research

According to a new report by Allied Market Research entitled, "Global Brain Computer Interface (BCI) Market - Size, Industry Analysis, Trends, Opportunities, Growth and Forecast, 2013-2020", the Global Brain Computer Interface (BCI) market is expected to reach$1.46 billion by 2020, registering a CAGR of 11.5% during 2014-2020. A global rise in the count of brain disorders along with the increasing government funding to improve healthcare systems, would supplement the growth of this market. The non-invasive BCI technology accounted for about 85% of the total BCI market revenue in 2013, and demonstrate a steady growth in future, thus, eliminating the need to perform surgeries and implant BCI devices.

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Geographically, North America holds a major share in the BCI technology market due to high penetration of such technologies in this region. APAC is also a major contributor primarily to the vast computer gaming industry. The European region constitutes the third largest market and is expected to grow at a relatively higher CAGR during the forecast period. The European Commission is taking active measures for the population with motor disabilities. In 2012, the EC commissioned EUR 2.3 million in support of a three year project for the well-being of population suffering from motor disabilities. The technology enjoys highest adoption in the healthcare sector followed by the gaming industry. An increase in the number of game developing companies, implementing BCI technologies to improve the overall gaming experience, would further enhance the adoption of BCI technologies. The application of BCI technology is also underway in the smart homes control industry and would witness incremental growth during the forecast period of 2014-2020.

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