Brain Computer Interface Devices Market Estimated size Discern 2x Expansion size 2028 COVID-19
A recent market intelligence report that is published by Data Insights Partner on the global Brain Computer Interface Devices market makes an offering of in-depth analysis of segments and sub-segments in the regional and international Brain Computer Interface Devices market. The research also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and global Brain Computer Interface Devices market over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of global Brain Computer Interface Devices market is offered. In accordance with the report, the global Brain Computer Interface Devices market is projected to expand at a CAGR of 10% over the period of forecast.
Market Insight, Drivers, Restraints& Opportunity of the Market:
The primary aim of the brain computer interface (BCI) is to provide severely paralyzed patients an alternate way to communicate which does not depend on muscle control. According to some modern definitions, BCI is a system which receives a bio-signal and forecasts some abstract aspects of the person’s cognitive state. The key components of the BCI devices are EEG headbox, EEG amplifier, and computer interface and feedback stations. The global BCI devices market is primarily driven by the increasing number severely paralyzed patients across worldwide. According to a recent study, around 1 in every 50 people living in the US is suffering from paralysis- approximately around 5.5 Million. The prevalence goes little bit similar in Europe- around 1 in every 44 people in Germany and around 1 in every 53 people in the UK in 2018. Despite the advantages offered by the BCI, there are some issue which make the BCI difficult- for instance, processing depends on several unknown parameters (person-specific, task specific) which makes the person specific variability due to folding of cortex, non-stationary brain dynamics etc.. Therefore, the growth of the global Brain Computer Interface Devices market would likely to restrain by the aforementioned scientific challenges, and lack of regulatory standard related to use of Brain Computer Devices in the upcoming period. However, technological advancements, strategic alliances such as collaborations among key players etc. would provide the global Brain Computer Interface Devices market an opportunity to propel during the forecast period. In November 2019, Neurorobotics and Moscow Institute of Physics and Technology jointly developed a new BCI algorithm in Russia which can utilize artificial neural networks and EEG display images in real-time. In October 2019, Cognixion, a neuro-technology startup launched an artificial intelligence driven BCI solution for speech impaired person to communicate.
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Segment Covered:
This market intelligence report on the global Brain Computer Interface Devices market encompasses market segments based on type, application and country.
In terms of type, the global Brain Computer Interface Devices market is segregated into:
Active BCI
Reactive BCI
Passive BCI
By application, the global market is also classified into:
Law enforcement, and forensics
Entertainment
Healthcare (sleep stage recognition, neuro-rehabilitation, disabilities such as tetraplegia, locked-in syndrome etc., speller programs)
Social (neuro-wear)
Research and development (neuroscience)
By country/region, the global Brain Computer Interface Devices market has been divided into:
North America (the U.S., Canada)
Latin America (Brazil, Mexico, Argentina and other countries)
Europe (Germany, France, the U.K., Spain, Italy, Russia, and other countries)
Asia Pacific (India, Japan, China, Australia and New Zealand and other countries)
Middle East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market Players:
This business intelligence report offers profiling of reputed companies that are operating in the market. Companies such as
Cognitxion
Clunbury Scientific LLC
Neurolutions, Inc.
InnerEye Ltd.
Panasonic Corp.
Oticon A/S
HumAInify
NIHON KOHDEN CORPORATION
Integra Life Sciences Corporation
Others have been profiled into detail so as to offer a glimpse of the market leaders. Moreover, parameters such as Brain Computer Interface Devices related investment & spending and developments by major players of the market are tracked in this global report.
Report Highlights:
In-depth analysis of the micro and macro indicators, market trends, and forecasts of demand is offered by this business intelligence report. Furthermore, the report offers a vivid picture of the factors that are steering and restraining the growth of this market across all geographical segments. In addition to that, IGR-Growth Matrix analysis is also provided in the report so as to share insight of the investment areas that new or existing market players can take into consideration. Various analytical tools such as DRO analysis, Porter’s five forces analysis has been used in this report to present a clear picture of the market. The study focuses on the present market trends and provides market forecast from the year 2017-2027. Emerging trends that would shape the market demand in the years to come have been highlighted in this report. A competitive analysis in each of the geographical segments gives an insight into market share of the global players.
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Salient Features:
Ø This study offers comprehensive yet detailed analysis of the Brain Computer Interface Devices market, size of the market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of forecast: 2019 – 2027, taking into account 2018 as the base year
Ø It explains upcoming revenue opportunities across various market segments and attractive matrix of investment proposition for the said market
Ø This market intelligence report also offers pivotal insights about various market opportunities, restraints, drivers, launch of new products, competitive market strategies of leading market players, emerging market trends, and regional outlook
Ø Profiling of key market players in the world Brain Computer Interface Devices market is done by taking into account various parameters such as company strategies, distribution strategies, product portfolio, financial performance, key developments, geographical presence, and company overview
Ø Leading market players covered this report comprise names such Cognitxion, Clunbury Scientific LLC, Neurolutions, Inc., InnerEye Ltd. , Panasonic Corp. , Oticon A/S , HumAInify , NIHON KOHDEN CORPORATION, Integra Life Sciences Corporation and others, and among others
Ø The data of this report would allow management authorities and marketers of companies alike to take informed decision when it comes to launch of products, government initiatives, marketing tactics and expansion, and technical up gradation
Ø The world market for Brain Computer Interface Devices caters to the needs of various stakeholders pertaining to this industry, namely suppliers, manufacturers, investors, and distributors for Brain Computer Interface Devices market. The research also caters to the rising needs of consulting and research firms, financial analysts, and new market entrants
Ø Research methodologies that have been adopted for the purpose of this study have been clearly elaborated so as to facilitate better understanding of the reports
Ø Reports have been made based on the guidelines as mandated by General Data Protection Regulation
Ø Ample number of examples and case studies have been taken into consideration before coming to a conclusion
Reasons to buy:
v Identify opportunities and plan strategies by having a strong understanding of the investment opportunities in the Brain Computer Interface Devices market
v Identification of key factors driving investment opportunities in the Brain Computer Interface Devices market
v Facilitate decision-making based on strong historic and forecast data
v Position yourself to gain the maximum advantage of the industry’s growth potential
v Develop strategies based on the latest regulatory events
v Identify key partners and business development avenues
v Respond to your competitors’ business structure, strategy and prospects
v Identify key strengths and weaknesses of important market participants
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