Technological advancements in healthcare personnel and individuals have Propelled the Growth of the Brain Computer Interface Market in the APAC Region!
- Himanshu Patni
- November 14, 2023
- NEWS, TELECOM & IT
- Brain Computer Interface Market, Brain Computer Interface Market Forecast, Brain Computer Interface Market Outlook, Brain Computer Interface Market Share, Brain Computer Interface Market Trends
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Technology and innovation developments have considerably facilitated the launch of numerous innovative items. New technology consists of a broad range of applications that aim to transform security, automation, and communication workflows. The market makes use of research from scientists who study electronics and medicine. Such changes are projected to positively affect the market’s expansion in the Asia-Pacific region. In 2020, Researchers from China developed a neural signal analysis system with mersister arrays, which paves the way for high-efficiency brain-machine interfaces and used the system to implement the identification of epilepsy-related neural signals and achieved an accuracy of over 90%. For instance, in 2021, Tianjin University’s neuro-engineering team was working on the research and development of the second-generation “BrainTalker” chip, which uses less power and offers higher system-on-chip integration, and the researchers reported that they were able to extract “good-quality” brain intentions from electroencephalogram signals that could meet application requirements.
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Further, the APAC Brain Computer Interface Market is expected to exhibit the fastest CAGR over the forecast period (2023-2030). BCI market is anticipated to grow in developing countries such as Japan and China with low-cost manufacturing sites and favorable taxation policies. These countries have attracted foreign players to invest in this lucrative market. Intensive R&D has led to the launch of many innovative products.
FIG. 1 APAC Brain Computer Interface Market Revenue (2020-2030) – USD Bn
Based on type, the market is segmented into invasive and non-invasive. The non-invasive category is expected to have a major market share over the projective period. Due to its widespread use in gadgets like headphones, gaming sticks, and amplifiers, the market is expanding. It is anticipated that the development of non-invasive brain-computer interface devices based on EEG would make BCI technology more widely available. Invasive BCIs are also utilized to recover the use of limbs by utilizing brain-controlled robotic arms and legs and to restore eyesight by linking the brain with external cameras. For example, the Food and Drug Administration (FDA) of the United States has authorized the use of a brain-computer interface device to help stroke patients with their hands.
Based on application, the market is divided into healthcare, smart home control, communication and control, and entertainment and gaming. The healthcare segment is anticipated to hold a significant share in the year 2022. BCI technology is currently gaining popularity as a treatment for neurological conditions and paralysis. From handling entertainment systems and appliances to preserving connectivity with smart home automation, people found greater comfort and convenience. There have been numerous technological advancements in human-machine sensing, as well as increased use of BCI technology in entertainment, gaming, communication, and control.
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Global Brain Computer Interface Market Segmentation
Market Insight, by Type
Market Insights, by Application
· Smart Home Control
· Communication & Control
· Entertainment and Gaming
Market Insights, by End-Users
Market Insight, by Region
· North America
o Rest of North America
o Rest of Europe
o Rest of APAC
· Rest of the World
Top Company Profiles
· Brain Products Gmbh
· ANT Neuro
· G.Tec Medical Engineering Gmbh
· NIRx Medical Technologies, LLC
· Ripple Neuro