A brain computer interface enables medical professionals and neurologists to record, manage, monitor, and translate the brain waves of patients into recordable data interpretations. Brain waves were discovered in the early 20th century by Dr. Hans Berger, which opened up the field of neuroscience completely. With technological advancements in computers, the ability to record and interpret brain waves and other brain activity has increased. The global brain computer interface market is expected to expand at a rapid pace during the period from 2015 to 2023 due to advancements in technology and consequently increased demand.

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The global brain computer interface (BCI) market is segmented on the basis of technology, application, geography, and end use. By end use, BCI services are used by forensic laboratories, hospitals and rehabilitation centers, psychological research centers, and individuals. Hospitals and rehabilitation centers are expected to be the largest contributors to the global brain computer interface market in the years to come. Psychological research centers are expected to be the second largest contributors for the global brain computer interface market due to the increased number of people facing mental disorders. The increased number of physically challenged patients will also boost the demand for BCI technology from psychological research centers in the coming few years.

Noninvasive BCI to Lead Global BCI Market

Based on technology, the global brain computer interface market is classified into noninvasive brain computer interfaces, invasive brain computer interfaces, and other interfaces such as semi-invasive and EEG. In the past few years, noninvasive brain computer interfaces have gained global acceptance and popularity. This segment is predicted to develop rapidly in the years to come due to factors such as low chances of infection and low discomfort. Invasive brain computer interfaces have more applications in neuroprosthetics and are expected to develop at a steady pace during the forecast period.

By application, the global brain computer interface market is classified into neurogaming, neuroprosthetics, neuroanalysis, and defense. Amongst all these segments, the neuroanalysis and neuroprothetics applications form the biggest commercial segments. With the rising number of neurogaming enthusiasts and increased funding, the neurogaming segment is expected to generate high demand throughout the forecast period.

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North America to Register Significant Development by 2023

Based on geography, the global brain computer interface market is divided into North America, Asia Pacific, Europe, and Rest of the World. Geographically, the BCI market is concentrated in North America in 2014, followed by Europe and Asia Pacific. Leading players in the European region are expected to generate more demand for various BCI applications. High quality of services, increased reliability, and greater innovations are some of the driving factors for the BCI market in the Asia Pacific and Europe regions. Some of the leading players in the global brain computer interface market are Neuro Sky, Inc., OCZ Storage Solutions, Inc., Mindplay, Inc., Texas Instruments, Inc., Emotiv Systems, Interaxon, Inc., and PLX Devices, Inc.

Poor understanding of patterns of brain waves and lack of interest among venture capitalists are two of the major restraints on the global brain computer interface market during the forecast period. However, the emergence of new players will boost the global brain computer interface market in the years to come.

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