Global brain computer interface market to reach $506m by 2029

The non-invasive BCI segment held the largest market share in 2023.

Revenue for the global brain computer interface (BCI) market is expected to reach $506m by 2029 at a compound annual growth rate (CAGR) of 14.1%.

A report by MarketsandMarkets revealed that the market’s growth is driven by a rising incidence and prevalence of neurological disorders and a surging demand for non-invasive and wearable BCI devices.

By product type, the non-invasive BCI segment held the largest market share in 2023 amidst higher adoption as it eliminates the need for surgical implantation.

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Meanwhile, the Electroencephalography (EEG) segment served as the largest technology in the BCI market in the previous year.

The report showed that the segment’s large share is attributed to the growing research and development (R&D) in cerebral and spinal disorders, significant adoption of the technology amongst researchers, and a high number of players involved in EEG hardware development.