New York, Jan. 10, 2022 (GLOBE NEWSWIRE) -- According to the statistics by the World Bank, the population aged 65 and above as a share of the total population around the globe touched 9.318% in the year 2020, up from 6.874% in the year 2000. Moreover, according to the statistical report titled “World Population Ageing 2019” published by the United Nations, stated that the number of persons aged 65 or over globally is expected to touch 1548.9 Million by the end of 2050, up from 702.9 Million in the year 2019, registering a growth of 120% during the period.
Kenneth Research has recently added a report on “Global Brain Computer Interface (BCI) Market” which includes a brief analysis of the organizations that are operating in the market, along with their product portfolio analysis and their growth strategies during the forecast period, i.e., 2021-2030. The report also utilizes different analytical tools, such as SWOT analysis and PESTEL analysis among others, to analyze the market.
The elderly population around the globe is growing at a significant pace and with it is raising the concern for the different diseases that effects the population group. According to the World Health Organization (WHO), the most common conditions among the elderly population include cataracts, refractive errors, hearing loss, chronic obstructive pulmonary disease, diabetes, back & neck pain, and dementia among others. Most of these health diseases often result in numerous physical and mental complexities amongst the elderly, ultimately leading to poor quality of life. The brain computer interface (BCI) helps to carry out the desired action by acquiring the signals from the brain. People who face physical or mental complexities, and are unable to perform their day-to-day actions on a daily basis, can use the interface to carry out their desired action. The global brain computer interface (BCI) market registered a revenue of USD 1466.76 Million in the year 2020 and is further projected to touch USD 4483.93 Million by the end of 2030, by growing with a CAGR of 12.54% during the forecast period.
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The global brain computer interface (BCI) market is segmented on the basis of region into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Amongst the market in these regions, the market in North America registered the largest revenue of USD 648.41 Million in the year 2020 and is further expected to reach USD 1726.31 Million by the end of 2030. Moreover, the market in Europe is projected to garner the second-largest revenue of USD 1618.70 Million by the end of 2030, up from a revenue of USD 506.73 Million in the year 2020.
The global brain computer interface (BCI) market is segmented on the basis of application into medical, games & entertainment, smart home control, communication & control, military & defense, educational & self-regulation, and others. Amongst all these segments, the medical segment registered the largest revenue of USD 1014.39 Million in the year 2020 and is further projected to touch USD 3401.06 Million by the end of 2030. The segment is also anticipated to grow with the highest CAGR of 13.58% during the forecast period.
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On the other hand, the games & entertainment segment is expected to garner the second-largest revenue of USD 399.07 Million by the end of 2030 and further grow with a CAGR of 12.26% during the forecast period. The medical segment is further sub-divided into detection & diagnosis, and rehabilitation & restoration. Amongst these segments, the detection & diagnosis segment is expected to garner the largest revenue by the end of 2030, and also grow with the highest CAGR of 15.07% during the forecast period.
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Some of the prominent industry leaders in the global brain computer interface (BCI) market that are included in our report are NextMind SAS, Blackrock Neurotech, Advanced Brain Monitoring, Inc., NIHON KOHDEN CORPORATION, g.tec medical engineering GmbH, Natus Medical Incorporated, Cadwell Industries Inc., OpenBCI, Inc., Cortech Solutions, Inc., NeuroSky, Inc., EMOTIV, Inc., Integra LifeSciences Corporation, and others.
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