Global BCI market would reach$1.46 billion by 2020

Big Market Research Report has added a report titledGlobal Brain Computer Interface Market (Type, Application and Geography); the global market is expected would reach$1.46 billion by 2020, growing at a CAGR of 11.5% from 2014 to 2020.

Increasing count of brain disorders globally; increasing government and private findings to improve healthcare outcomes, are key factors that would foster the growth of the market across regions.
Technological advancements in in analyzing brain electrical waves and considerable investments in R&D activities in developed nations have opened up new vistas in brain computer interface market. As per the report, the non-invasive technology accounted for approximately 85% of the total market revenue in 2013, and is forecast to witness rapid growth in future; this is expected to significantly improve surgical outcomes. Invasive BCI technology market would witness fastest CAGR growth of 15.3% during the forecast period.

The report segments the market on the basis of types, application and geography. Geographically, North American region holds a major share in the BCI market; the factors responsible are increased demand of such technologies in this region, especially for healthcare applications. North America is followed by APAC region; the key factor boosting the market growth are booming computer gaming industry; this is followed by Europe and is expected to show a relatively moderate growth along the forecast period. Application of BCI technology for correcting motor disabilities and the active initiatives taken by European Commission are the factors that would create ample growth opportunities in this market.

The BCI technology witnesses maximum growth in the healthcare sector and is followed by the gaming industry. An increasing number of technology players to develop interactive games would further boost the adoption of BCI technologies. Recent advances are being made to develop BCI technology for smart homes control industry and the segment would witness gradual growth during the forecast period. This is especially true for North American region, especially across U.S. and Canada

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Prominent market players profiled in the report are Advanced Brain Monitoring, Inc., Guger Technologies OEG, Nihon Kohden Corporation, and Mind Solutions Inc.

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