Market Size (2018)
2018
$1.55B
Vertical: ICTBase Year: 202110 Sections
Market Size (2018)
2018
$1.55B
Projected (2030)
2030
$4.98B
CAGR (2018–2030)
10.2%
10.2%Key Players
109+
The growing use of electro-encephalography in the diagnosis of sleep disorders, increasing number of brain disorder patients across the globe, growing applications of sensors in the healthcare sector, and increasing use of brain control interface in controlling IoT devices are some of the major factors supporting the growth of the market. In addition, high-performance communication for people with paralysis, and the emerging use of BCI in gaming enterprises are further aiding the market growth.
The Brain Computer Interface Market market is projected to grow at a CAGR of 10.2% from 2018 to 2030.
Historical performance and future projections (2020–2030, USD Billion)
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View Subscription PlansA brain-computer interface (BCI) refers to a computer-based system that acquires brain signals, analyzes them, and translates them into commands that are relayed to an output device to carry out the desired action. BCI is often directed at researching, assisting, mapping, augmenting, or repairing human cognitive or sensory-motor functions.
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View Subscription PlansThis report applies a rigorous multi-stage research process combining primary interviews, secondary data sources, and bottom-up market modelling to ensure accuracy and completeness across all segments and geographies.
Base Year
2021
Historical Period
2018 – 2021
Forecast Period
2021 – 2030
Primary Interviews
150+
Historical data (2018–2021) and forecast period (2021–2030)
Our research process spans primary interviews with industry stakeholders combined with comprehensive secondary data analysis, validated through triangulation across multiple independent sources.
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View Subscription PlansThreat of New Entrants
The number of new companies in the brain computer interface market is increasing owing to increasing demand for brain computing devices among healthcare, automotive, and gaming industries. However, the initial cost for manufacturing the machines and devices is high. Also, there exists a high requirement for technical expertise by the companies due to the technology complexity associated with it. Although, the end-user industries are using this technology with good brand names, however, startups such as NeuroSky, BrainCo, and others are also witnessing the adoption of BCI being used across the healthcare and gaming industries. Additionally, some of the legal barriers such as patents, copyrights, and other regulations also reduce the entry of the new players in the market. Thus, the threat of new entrants in the global brain computer interface market is expected to be moderate during the forecast period.
Bargaining Power of Suppliers
There are various manufacturers such as Texas Instruments Incorporated, STMicroelectronics N.V., TE Connectivity Ltd., NXP Semiconductors N.V., Broadcom Limited (Avago), and Robert Bosch GmbH who offer sensors, electrodes, cables, actuators, and other components to the manufacturing companies in the brain computer interface market. The local suppliers in the market also offer components to various startups which also reduces the power of the suppliers from moderate to low. Additionally, the suppliers provide similar products to manufacturers which results in low product differentiation and consequently low switching cost for the buyers. Thus, the bargaining power of suppliers in the global brain computer interface market is expected to be low during the forecast period.
Threat of Substitutes
Currently, the brain computer interface is a growing market that is gaining popularity in healthcare, automotive, and gaming industries due to the ability of this technology to control devices with the help of the brain. Various companies and organizations such as Facebook Inc., NeuraLink, The Defense Advanced Research Projects Agency (DARAPA) and others are investing heavily in the research of brain computer interface technology. Additionally, there are no substitutes present in the market for the brain computer interface systems and devices. Hence, the threat of substitutes in the global brain computer interface market is expected to be low during the forecast period.
Bargaining Power of Buyers
The increasing adoption of BCI among gaming, medical, healthcare, and other industries has increased the requirement for new and miniaturized products which has increased the power of the buyers in the market. Additionally, the number of BCI manufacturers and startups such as Natus Medical Incorporated, EMOTIV, NeuroSky, Inc. offering products such as neuro caps, headsets, wired and wireless systems is increasing, which offers various options for the buyer to choose from in the brain computer interface market. The vendors in the market are offering products within a restricted price range which reduces the bargaining power for the buyers. Thus, the bargaining power of buyers is expected to be moderate in the global brain computer interface market during the forecast period.
Intensity of Rivalry
The brain computer interface market is growing at a moderate rate due to increasing demand from the end-users which is increasing the rivalry among the current manufacturers. Additionally, the number of startups in the market developing new products based on BCI technology is also intensifying the competition among the players. The products differentiation among the market players is moderate with almost similar features, but subtle differentiation in cost. The established players are targeting competitors in terms of quality and price, making the industry competitive, reducing profit margins for all existing firms. Additionally, players operating in the market are competing by introducing new high-quality products. The market players strongly focus on strategic investments in R&D. They invest in product development with changing consumer preferences to create differentiation. Moreover, the key players in the global brain computer interface market are emphasizing various promotional activities to create awareness among consumers regarding product launches. Additionally, the manufacturers are actively promoting their products through healthcare professionals. Therefore, the intensity of rivalry in the global brain computer interface market is expected to be high during the forecast period.
Market estimates by geography (2030)
InsightNorth America leads with $2.11B by 2030, while Asia Pacific is projected to grow fastest at a 11.7% CAGR.
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View Subscription Plans| REGION | 2018 | 2021 | 2030 | CAGR | SHARE |
|---|---|---|---|---|---|
| North America | $627.16M | $1.05B | $2.11B | 10.7% | 42% |
| Europe | $441.11M | $704.32M | $1.38B | 9.9% | 28% |
| Asia Pacific | $283.84M | $498.74M | $1.07B | 11.7% | 21% |
| Rest of the World | $195.62M | $263.74M | $419.47M | 6.6% | 8% |
| Total | $1.55B | $2.51B | $4.98B | 10.2% | 100% |
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View Subscription PlansTotal Market Size
$4.98B
| APPLICATION | REVENUE ($B) | GROWTH RATE | MARKET PENETRATION |
|---|---|---|---|
| Hardware | $2.91B | 10.2% | 89% |
| Software | $2.07B | 10.2% | 89% |
* Revenue projections based on 2025 estimates. Growth rates represent CAGR 2024–2030. Market penetration indicates current adoption rate within addressable market segments.
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Analytical insights on Brain Computer Interface Market covering market dynamics, competitive landscape, and strategic outlook.
The Brain Computer Interface Market market is projected to reach $4.98B by 2030, growing at 10.2% CAGR. The Hardware segment holds the largest share.
The growth of the global brain computer interface market is expected to be driven by the increasing use of electro-encephalography in the diagnosis of sleep disorders and increasing number of brain disorder patients across the globe. Moreover, increasing applications of sensors in healthcare sector are also driving the market growth. However, technical shortcomings of BCI technology are anticipated to restrain the market. In contrast, high-performance communication for people with paralysis and providing better smart home control system are likely to create lucrative opportunities.
Electro-Encephalography (EEG) has been in use for diagnosis and medical investigation of brain disorders such as seizures, tumors, strokes, and dementia. EEG is widely used to detect abnormalities in the brain waves or the electrical activity of the brain. In recent years, EEG is being used for the diagnosis of sleep disorders such as narcolepsy and insomnia. EEG is also used by doctors as a part of a sleep study or polysomnography. EEG systems consist of electrodes made of small metal discs that are attached to the scalp of the patient. These electrodes are used to detect tiny electrical charges produced from the activity of the brain cells through computers. EEG systems are non-invasive in nature as there is no requirement for implanting EEG electrodes inside human skulls. These systems are deemed safe to use even for children. Thus, this promotes greater usage of EEGs and greater acceptance amongst the patient pool.
EEG systems offer doctors a clearer picture of a patient’s sleep patterns by detecting different brain activities corresponding to different stages of sleep. These systems enable doctors to pinpoint an external factor that is preventing a patient from getting deep sleep, thereby helping doctors isolate the cause of sleep disorders in patients and formulate treatment plans. There has been a rise in the adoption of EEG systems across the globe for treatment of sleep disorders, which is expected to drive market growth during the forecast period.
People with different types of paralysis, including tetraplegia and anarthria, not only have problems such as moving around but also find it difficult to use today’s communication technologies, including computers and smartphones. Disorders such as strokes, neurological injuries, or diseases such as ALS can lead to severe paralysis among patients, which can make communication difficult. In extremely rare cases these disorders can lead to a condition called locked-in syndrome, which completely impairs the person for moving or speaking. Brain computer interfaces offer an ideal solution to restore communication by harnessing intact neural signals in such cases. Many BCI systems including invasive BCIs such as intracortical BCIs as well non-invasive BCIs such as EEGs have been developed to enable individuals with paralysis communicate. However, invasive brain computer interface technology has not yet reached a level of performance that would support widespread adoption by people with motor impairments. Currently, BCIs are being developed to perform communication tasks such as point-and-click control of a computer cursor for typing communication texts via computer screens. As technology progresses, the efficiency of BCI based communication in paralyzed individuals is expected to increase. The increasing development of BCI based communication systems for people with paralysis presents a significant opportunity for the growth of the brain computer interface market.
These EEG caps are highly expensive to warrant any type of mainstream use such as gaming accessories. Moreover, these caps require the use of conductive gel, careful positioning of electrodes, and clean-up after use, which makes the setting up EEG systems time-consuming. The BCI equipment currently available based technologies such as fMRI and MRI offer close to zero portability. Even EEG caps wired connection to the equipment, and those that are wireless require the subject to carry a computer that can weigh around 10 pounds. However, research has been conducted in gaming-based EEG caps which have been able to offer improved portability. Currently available independent BCI systems have an information transfer rate of as high as 100 bits/min, which roughly translates to around 8 words/min of communication through visual keyboards for paralyzed individuals. Although this information transfer rate is significantly beneficial to paralyzed individuals for communication, it still is very low when it comes to dealing with mainstream communication tasks for applications such as gaming, home automation, or motorized control. Furthermore, the signal measured by non-invasive BCI such as EEGs is weak and prone to interference. Several reports have also found that around 15–30% of individuals are inherently not able to produce brain signals robust enough to operate a BCI. These technical shortcomings of the BCI technology are expected to hamper the growth of the brain computer interface market during the forecast period.
Overview
Countries and various industries are trying to deal with the challenges posed by the novel coronavirus, and one such concern has been the uncertainty surrounding the impact of the COVID-19 pandemic on the global brain computer interface market. Social distancing requirements, sharp cuts in consumers’ discretionary income during the COVID-19 crisis, and governmental policies have hit patients' ability to diagnose diseases and treatment involving brain computer interface systems. Many hospitals and clinics also suffered from overburdening of pandemic led hospitalizations, affecting the availability of treatment facilities.
Impact on Supply Chain
The COVID-19 pandemic has disrupted the supply chain and interrupted the entire value chain of the global brain computer interface market, from raw material procurement to manufacturing, packaging, and distribution. Most of the players operating in the brain computer interface market rely limited number of suppliers product and pandemic led to supply being subjected to volume constraints and increased costs. However, the industry has adjusted to the disruptions led by the pandemic and market has started to reach normalcy. The potential impact of the COVID-19 pandemic is as follows:
Decline in production activitiesShutdown/reduced activities Negative Impact on money flowDisrupted supply chain
Impact on Demand
Owing to urgent measures taken across the globe, raw material sourcing became a bit difficult. To fight the pandemic, the whole world was under lockdown. Thus, some urgent measures were taken by the governments of certain countries, such as physical distancing and limitation of transport to fight surge ability. Apart from this, the brain computer interface market was also facing restrictions on the workforce in the first half of 2020. The workforce is required to source the raw material, assembling raw material into the final product till the packaging and transporting the final product to the end users. Disruptions in supply chain further caused increase in production costs and low production volume. This led to sudden increase in prices and therefore impacted the demand for brain computer interface sytems. Additionally, failure to access of healthcare facilities for therapy also led to lower demand for brain computer interface. However, the demand for the brain computer interface has rebounded and is anticipated to gain significant momentum in the forecast period.
Impact on Clinical Trials
Clinical trials are irreplaceable aspects of the medical industry, a huge driver of company valuations, and the greatest hope for patients suffering from poorly managed diseases. The COVID-19 outbreak had affected clinical trials and observational studies across the globe as major companies and institutes were facing issues in recruiting volunteers for the study. Additionally, the delay faced owing to the lack of staff also negatively affected the clinical trials. Clinical SCORE surveyed 363 clinical trial sites across a range of settings, provider specialties, and countries in April 2020. 36% of sites awaiting trial activation reported that the sponsors had postponed starting recruitment and enrollment, while 48% of sites were actively enrolling and randomizing patients saying they could not get patients to come for a visit. Research-dedicated sites and those with more than ten trials appear to be the most receptive to virtual visits. The percentage of enrolling sites experiencing substantial delays ranged from 54% to 61%. Thus, brain computer interface market showed a negative impact due to the impact of COVID-19 pandemic on clinical trials.
Profiles of 109 companies operating in the Brain Computer Interface Market market, including revenue, employee count, and market positioning where available.
Showing 109 of 109 companies
Neuroelectrics
Company Headquarters: Catalonia, Spain Founded: 2011 Workforce: ~200 Company Working: Neuroelectrics is producing one platform for treating brain dysfunction through cloud-based, personalized neuromodulation. It specializes in the manufacture of neurostimulators, the analysis of EEG data, neurofeedback technologies, EEG and stimulation electrodes, and the optimization of stimulation targets. It creates wireless EEG and tDCS/tACS/tRNS stimulation devices with up to 32 channels, as well as software and research services. Furthermore, it offers comprehensive software and research services for monitoring, diagnosing, and treating brain disorders. The Neuroelectric family consists of five companies.
Brain Products GmbH
Company Headquarters: Gilching, Germany Founded: 1997 Workforce: ~200 Company Working: Brain Products GmbH is a company dedicated to the study of the human brain and nervous system. It specializes in electroencephalography, EEG, BCI, neurofeedback, EEG & fNIRS, EEG & fMRI, EEG & TMS, EEG/ERP, and ERP/EP. It enriches the complex and fascinating neurophysiological market with versatile hardware and software solutions. It provides support to over 1.000 universities and scientific research institutes worldwide. It complements a comprehensive product suite with a global network of knowledge brought to life by our distributors and business partners, collaborative projects with universities, and in-house R&D.
Compumedics Limited
Company Headquarters: Victoria, Australia Founded: 1987 Workforce: ~200 Company Working: Compumedics Limited creates computer-based medical monitoring and diagnostic equipment for hospitals, clinics, universities, and research organizations worldwide. The equipment tracks sleep, brain activity, and blood flow. It is divided into sleep diagnostics, neurology diagnostics, and brain research. Through the Compumedics Neuroscan brand, the company designs and manufactures technologies to diagnose sleep disorders, neurodiagnostic solutions from clinical to research, and brain research technologies. Compumedics Limited has a market share of approximately 80% in the Australian sleep diagnostic market and a growing international business, particularly in the US, which has the world's largest medical device market. It has received numerous awards and accolades over the years, including Australia's exporter of the year and recognition as a Top 100 Innovator by both the German and Australian governments. It owns Neuroscan (US) and DWL Elektronishe Systeme GmbH (Germany). It has a broad international reach in conjunction with these two subsidiaries, including the Americas, Australia and Asia-Pacific, Europe, and the Middle East. Its corporate family consists of ten companies.
G.tec Medical Engineering
Company Headquarters: Austria, EU Founded: 1999 Workforce: ~200 Company Working: G.tec Medical Engineering (G.tec) is a leader in the field of medical devices, BCI, neurotechnology, biosignal processing, and neurorehabilitation. Moreover, the company has its branches in Schiedlberg and Graz (Austria), Barcelona (Spain), and New York (USA).
NeuroSky
Company Headquarters: California, US Founded: 2004 Workforce: ~200 Company Working: NeuroSky is a leading company for easy-to-understand biometrics for wearable devices, mobile solutions, and service providers. Moreover, the company has produced more than hundreds of breakthroughs in consumer-level brainwave monitoring. Additionally, the company has its reach throughout Asia and Europe. Additionally, the company's technology is a suitable fit for the consumers in several fields such as entertainment (toys and games), education, automotive, and health. Also, Neurosky allows for low-cost EEG-linked research and products by using inexpensive dry sensors; older EEGs require the application of a conductive gel between the sensors and the head.
Emotiv
Company Headquarters: California, US Founded: 2011 Workforce: ~200 Company Working: Emotiv is a leading bioinformatics company that helps understand the human brain using electroencephalography. Moreover, the company has an interface for potential industries such as gaming, interactive television, computer interactions, robotics, automotive, transport safety, accessibility design, market research, psychology, defense, and security. Also, the company has a global presence in more than 100 countries.
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Brain Computer Interface Market