Connect with us
MARE BALTICUM Gaming & TECH Summit 2024

Artificial Intelligence

Brain Computer Interface Market Worth $506 million | MarketsandMarkets™

Published

on

brain-computer-interface-market-worth-$506-million-|-marketsandmarkets™

CHICAGO, May 15, 2024 /PRNewswire/ — Brain Computer Interface Market in terms of revenue was estimated to be worth $262 million in 2024 and is poised to reach $506 million by 2029, growing at a CAGR of 14.1% from 2024 to 2029 according to a new report by MarketsandMarkets™.

The growth in the brain computer interface market is driven by the growing incidence & prevalence of neurological disorders and increasing demand for non-invasive and wearable BCI devices. The adoption of BCI technology is also expected to increase with the growing applications of BCI technology. However, the data security and privacy concerns may pose a challenge to the brain computer interface market during the forecast period.
Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=64821525
Browse in-depth TOC on “Brain Computer Interface Market”
105 – Tables54 – Figures300 – Pages
Brain Computer Interface Market Scope:
Report Coverage
Details
Market Revenue in 2024
$262 million
Estimated Value by 2029
$506 million
Growth Rate
Poised to grow at a CAGR of 14.1%
Market Size Available for
2022–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Million)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Component, Product Type, Technology, Application, End User, and Region
Geographies Covered
North America (US, Canada), Europe (Germany, France, UK, Italy, Spain, and the Rest of Europe), Asia Pacific (Japan, China, India, and the Rest of Asia Pacific), Latin America (Brazil, Mexico, And Rest of Latin America), and Middle East & Africa (GCC Countries, and Rest of MEA)
Report Highlights
Updated financial information / product portfolio of players
Key Market Opportunities
Growth opportunities in emerging markets
Key Market Drivers
Growing need to minimize medication errors
Hardware is the largest component of the brain computer interface market in 2023.
Based on component, the brain computer interface market is segmented into hardware and software. The hardware segment accounted for the largest share of the brain computer interface market in 2023, attributing to hardware forming the foundational backbone of BCI functionality, providing essential components like EEG headsets, neural implants, and sensors vital for capturing and processing neural signals. Additionally, significant investment in hardware development by companies and research institutions is expected to drive the growth of this market.
Non-invasive brain computer interface segment is the largest product type of the brain computer interface market in 2023.
Based on product type, the brain computer interface market is segmented into non-invasive brain computer interface, partially invasive brain computer interface, and invasive brain computer interface. Among these, non-invasive brain computer interface segment accounted for the largest share of the brain computer interface market in 2023. Non-invasive BCIs, such as EEG headsets, eliminate the need for surgical implantation, thereby reducing associated risks, rising prevalence of neurological diseases, and an increasing awareness among patients leads to the higher adoption of this segment.
Electroencephalography (EEG) segment is the largest technology of the brain computer interface market in 2023.
Based on technology, the brain computer interface market is segmented into Electroencephalography (EEG), Functional Magnetic Resonance Imaging (fMRI), Magnetoencephalography (MEG), Electrocorticography (ECoG), and Functional Near-Infrared Spectroscopy (fNIRS). In 2023, Electroencephalography (EEG) segment accounted for the largest share of the market. The large share of this segment is attributed to the growing R&D in the field of cerebral and spinal disorders, significant adoption of EEG among researchers, and the large number of players involved in developing EEG hardware.
Disabilities restoration/ rehabilitation is the largest application segment of the brain computer interface market in 2023.
Based on application, the brain computer interface market is segmented into disabilities restoration/ rehabilitation, assistive technologies, and other applications.  The growing demand for rehabilitation solutions due to the increasing prevalence of neurological conditions like stroke, spinal cord injury, and amyotrophic lateral sclerosis (ALS) is expected to drive the growth of the disability’s restoration/ rehabilitation segment. In addition, the growing healthcare spending and rising research and development initiatives are other factors responsible for the growth of this market.
By end user, hospitals & clinics are the largest end user in the brain computer interface market in 2023.
Based on end user, the brain computer interface market is segmented into hospitals & clinics, rehabilitation centers, homecare settings, and other end users. In 2023, the hospitals & clinics segment accounted for the largest share in the market. The large share of this segment can primarily be attributed to the increasing use of brain computer interface solutions in hospitals and the rising awareness of brain diseases and conditions.
North America dominates the global brain computer interface market in 2023.
The brain computer interface market is segmented into five major regional segments, namely, North America, Europe, Asia Pacific, Latin America and Middle East and Africa. In 2023, North America accounted for the largest share of the brain computer interface market. As this region is home to a significant number of brain computer interface solution manufacturers. Moreover, the increasing adoption of brain computer interface solution by hospitals in the country, growing number of clinical trials of brain computer interface solution, large patient population for target diseases, and the availability of significant R&D investments to support brain monitoring development.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=64821525
Brain Computer Interface Market Dynamics:
Drivers:
Growing need to minimize medication errorsRestraints:
High cost of brain computer interface systemsOpportunities:
Growth opportunities in emerging marketsChallenge:
Shortage of trained medical professionalsKey Market Players of Brain Computer Interface Industry:
Prominent players in the brain computer interface market include Advanced Brain Monitoring, Inc. (US), ANT Neuro (Netherlands), Bitbrain (Spain), Kernel (US), Paradromics (US), BrainCo (US), Blackrock Neurotech (US), G.Tech Medical Engineering GmbH (Austria), Emotiv (US), Neurosky (US), Brain Products GmbH (Germany), CGX (US), Ripple Neuro (US), Neurable (US), InteraXon (US), Open BCI (US), Neurolutions, Inc. (US), BirgerMind (Latvia), Cognixion (US), Artinis Medical Systems (Netherlands), MindMaze (Switzerland), Cortec GmbH (Germany), AAVAA Inc. (Canada), Nexstem (India), and Conscious Labs (France).
Breakdown of the supply-side, demand side, primary interviews by company type, designation, and region:
By Supply Side: Tier 1 (25%), Tier 2 (5%), and Tier 3 (70%)By Designation: C-level Executives (27%), Director-level (18%), and Others (55%)By Region: North America (40%), Europe (30%), Asia Pacific (20%), Latin America (5%), and Middle East and Africa (5%)Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=64821525
Brain Computer Interface Market – Key Benefits of Buying the Report:
The report can help established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share. Firms purchasing the report could use one or a combination of the below-mentioned five strategies.
This report provides insights into the following pointers:
Analysis of key drivers (growing incidence & prevalence of neurological disorders, increasing demand for non-invasive and wearable BCI devices, rising investments in research and development), restraints (high cost of BCI devices, and stringent regulatory requirements), opportunities (growth opportunities in emerging markets, and growing applications of BCI technology) and challenge (shortage of trained medical professionals, and data security and privacy concerns)Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and product launches in the brain computer interface market.Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various types of brain computer interface solutions across regions.Market Diversification: Exhaustive information about solutions, untapped regions, recent developments, and investments in the brain computer interface market.Competitive Assessment: In-depth assessment of market shares, strategies, products, distribution networks, and manufacturing capabilities of the leading players in the brain computer interface market.Related Reports:
Mental Health Screening Market – Global Forecasts to 2029
Electronic Clinical Outcome Assessment Solutions Market – Global Forecasts to 2029
mHealth Solutions Market – Global Forecasts to 2028
Digital Health Market – Global Forecasts to 2028
Population Health Management Market – Global Forecasts to 2027
Get access to the latest updates on Brain Computer Interface Companies and Brain Computer Interface Industry Growth
About MarketsandMarkets™:
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:Mr. Aashish MehraMarketsandMarkets™ INC.630 Dundee RoadSuite 430Northbrook, IL 60062USA: +1-888-600-6441Email: [email protected] Our Website: https://www.marketsandmarkets.com/
Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg

View original content:https://www.prnewswire.co.uk/news-releases/brain-computer-interface-market-worth-506-million–marketsandmarkets-302145978.html

Continue Reading
Advertisement
Stake.com

Artificial Intelligence

Trip.com Group Outlines Future Growth Strategies at Envision 2024 Global Partner Conference

Published

on

trip.com-group-outlines-future-growth-strategies-at-envision-2024-global-partner-conference

SHANGHAI, May 30, 2024 /PRNewswire/ — Trip.com Group set the stage for transformative growth at the Envision 2024 Global Partner Conference, sharing its strategic vision with over 1,600 partners from more than 50 countries and regions. The conference, focused on the forward-looking theme of “Charting the Next Chapter of Our Growth Together”, revealed pivotal trends and opportunities that will drive the travel industry forward.

The Spirit of Innovation in Travel
As the travel industry moves beyond the recovery phase and enters a period of rapid growth, a pressing question arises: “What comes next?” This anticipation was met with enthusiasm at the conference, where future growth areas were a focal point. The sustained investment in innovation and technological advancements emerged as a pivotal strategy, with a particular emphasis on the transformative potential of AI.
Mr. James Liang, Co-founder and Chairman of Trip.com Group, highlighted the key role of innovation in staying at the forefront of the travel industry, citing TripGenie, Trip.com’s AI travel assistant, as one of the innovative ways technology can revolutionise the travel planning and booking process.
“Every industry needs to innovate and so does the travel industry. We are constantly innovating in terms of efficiency, quality, customer service and even marketing. For instance, AI such as TripGenie can enhance customer service and marketing by integrating technology and content, to provide the best value to our customers,” he said.
Mr Liang also emphasised AI’s widespread impact on the travel industry, boosting productivity, enhancing customer service, and providing users with highly personalised travel recommendations.
For example, Trip.com’s AI-curated lists are able to provide travellers with the top-ranked offerings as well as the best deals. This enables a higher level of personalisation at every stage of the travel journey, with AI as a powerful enabler.
Expanding Fast on the World Stage
Ms. Jane Sun, CEO of Trip.com Group, highlighted that Trip.com Group has seen unprecedented growth in 2023. The Group’s international growth last year has been especially remarkable, with 100% international growth year-on-year. The first quarter of 2024 was also off to a strong start, with global travel provider Trip.com generating revenue with over 80% growth year-on-year.
Plans were shared for significant investments in the Asia-Pacific region, and further expansion into the rest of the world, positioning the company to capitalise on global opportunities. Additionally, the Group has forged strategic partnerships with tourism bureaus, major hotel chains, airlines, train operators, and local travel providers worldwide.
Currently, the company has over 1.7 million global accommodation listings, flights from over 600 airlines, and a network of over 90,000 ecosystem partners, including group tours, attractions, and car rental providers.
At the conference, China’s burgeoning potential in the global travel arena was also highlighted, with the further relaxation of visa-free restrictions, payment facilitations, and tourism promotion strategies such as free layover transit tours launched in Shanghai and engaging marketing campaigns that showcase the country’s offerings.
The Group also reiterated its commitment to quality customer service, revealing that the human touch is key to ensuring travellers enjoy a wonderful trip.
Sustainability was also another key theme, with Trip.com Group integrating strong ESG (Environmental, Social, and Governance) commitments into its business goals. These ESG initiatives include promoting low-carbon travel options, supporting family-friendly policies, and community revitalisation, all to ensure mutual benefits for customers, partners, and the wider community.
Sector Highlights
Key leaders from the Group also spoke on the breakthroughs and new developments in each sector, showcasing the multi-faceted world of travel. Highlights include:
Air Travel: Achieved record domestic travel and strong outbound growth, securing the top OTA position in the Asia-Pacific region.
Hotel Bookings: Significant growth with over 8,000 hotels offering Hotel+X products. Preferred Partner Program attracted 2,000+ partners, while Trip.Best expanded to over 20,000 hotels, with new themes: “boutique homestays” and “newly opened hotels”.
International Train Business: Expanded operations in Europe, and international ticket sales doubled in the latter half of 2023. Shown 122% year-on-year growth in early 2024.
Vacation Business: Record sales in vacation packages, and will expand ticketing services globally in the year ahead with 16 new sites and 8 new service languages. Plans to expand car rental services to Thailand, Japan and other markets.
Corporate Travel: Trip.Biz showed three-digit growth, with significant increases in hotel and flight bookings. Plans for expansion in Greater China, North Asia, Southeast Asia, Middle East, and site deployment in Europe, North America, and Oceania.
FinTech and TripLink: Expanded global presence by supporting 35 payment currencies, all international card schemes, and 25 local alternative payment methods. Expanded global insurance coverage for flights, hotels and rental cars.TripLink offers premium payment solutions to tourism partners.
Marketing Innovations: Successful mega-sales events, TV advertising and airport activations. Increased new user registrations and attained high conversion rates. Made strong destination marketing efforts with tourism boards worldwide.
Technological Advancements: Investments in technology centres. AI travel assistant TripGenie now supports voice and text conversations in nine languages, with new support for Italian, Dutch and Malay available by end June.
Customer Service: Trustpilot rating improved to 4.2 stars. Continuously enhancing AI capabilities in diverse markets and production lines to enhance service efficiency.
With diverse new developments launched by the company, Ms Sun took the opportunity to thank the Group’s partners for their support.
“The travel industry is a vital driver of global GDP and job creation, and at Trip.com Group, we are proud to be at the forefront, using travel as a bridge for peace and prosperity. With the support of our partners, we are ready to turn the page to the next chapter of our journey and embrace fresh opportunities together.”
About Trip.com Group
Trip.com Group is a leading global travel service provider comprising of Trip.com, Ctrip, Skyscanner, and Qunar. Across its platforms, Trip.com Group helps travellers around the world make informed and cost-effective bookings for travel products and services and enables partners to connect their offerings with users through the aggregation of comprehensive travel-related content and resources, and an advanced transaction platform consisting of apps, websites and 24/7 customer service centres. Founded in 1999 and listed on NASDAQ in 2003 and HKEX in 2021, Trip.com Group has become one of the best-known travel groups in the world, with the mission “to pursue the perfect trip for a better world”. Find out more about Trip.com Group here: group.trip.com.
Follow us on: X, Facebook, LinkedIn, and YouTube.
Photo – https://mma.prnewswire.com/media/2425663/image_1.jpgPhoto – https://mma.prnewswire.com/media/2425664/image_2.jpgPhoto – https://mma.prnewswire.com/media/2425665/3.jpgLogo – https://mma.prnewswire.com/media/1026638/Trip_com_Group_Logo.jpg 

View original content:https://www.prnewswire.co.uk/news-releases/tripcom-group-outlines-future-growth-strategies-at-envision-2024-global-partner-conference-302159248.html

Continue Reading

Artificial Intelligence

iFOREX Launches Revolutionary AI Trading Assistant

Published

on

iforex-launches-revolutionary-ai-trading-assistant

ROAD TOWN, British Virgin Islands, May 30, 2024 /PRNewswire/ — iFOREX, a leading name in the world of online trading, is proud to announce the launch of its innovative artificial intelligence tool designed to enhance the trading experience for its users. This cutting-edge AI assistant is now live on the iFOREX website, providing traders with instant answers to their questions about trading with this renowned broker. 

Revolutionizing the Trading Experience
In a bid to stay ahead in the rapidly evolving trading industry, iFOREX has developed an AI tool that offers users the ability to ask a wide range of trading-related questions and receive immediate, accurate responses. Whether you’re a seasoned trader or a newcomer to the trading world, this AI assistant is set to become an invaluable resource for all your trading inquiries.
Empowering Traders with Information
The new AI assistant on the iFOREX platform is designed to address the needs of both novice and tech-savvy traders, who demand quick and reliable information. From understanding market concepts to navigating the iFOREX trading platform, users can now rely on this intelligent tool for comprehensive support.
“Trading can be complex and time-sensitive,” said a spokesperson from iFOREX. “Our new AI assistant is here to simplify the process, providing our clients with the information they need, precisely when they need it. This innovation underscores our commitment to leveraging the latest technology to enhance our clients’ trading experience.”
Explore the Future of Trading Today
Traders interested in experiencing this revolutionary AI assistant can visit the iFOREX website and start asking their trading questions immediately. This new tool represents a significant step forward in how iFOREX supports its users, offering them unprecedented access to information and assistance in real-time.
About iFOREX
iFOREX is a globally recognized broker, offering a wide range of trading instruments and services. With a commitment to innovation and customer satisfaction, iFOREX continues to lead the way in providing traders with the tools and resources they need to succeed.
For more information about the AI trading assistant or to start using it today, visit the [iFOREX website] at iforex.com.

View original content:https://www.prnewswire.co.uk/news-releases/iforex-launches-revolutionary-ai-trading-assistant-302159243.html

Continue Reading

Artificial Intelligence

SCOPE AI ENGAGES WITH AD AGENCIES AND NETWORKS TO OPTIMIZE GEM PLATFORM

Published

on

scope-ai-engages-with-ad-agencies-and-networks-to-optimize-gem-platform

VANCOUVER, BC, May 30, 2024 /PRNewswire/ — Scope AI Corp. (CSE: SCPE) (OTCQB: SCPCF) (FSE: VN8) (“Scope” or the “Company”) is excited to announce its collaboration with several leading ad agencies and ad networks. This initiative aims to gain insights into the primary challenges these organizations face in analyzing the efficacy of different ad creatives and page layouts, as well as the difficulties and costs associated with testing.

These friendly collaborations are part of Scope AI’s commitment to ensuring that the functionality and features of its GEM (General Enterprise Machine Learning) platform are the best market-product fit. By engaging directly with industry professionals, Scope AI is gathering critical feedback to refine and enhance GEM’s capabilities, making it a more valuable tool for advertisers, brands, agencies, and Adtech service providers.
GEM, Scope AI’s flagship product, is designed to revolutionize the advertising technology sector through advanced AI-driven visual recognition and neural network technology. The platform will enable users to streamline processes, maximize return on ad spend, and analyze user behavior through custom neural networks without the need for expensive and risky live campaign testing.
“Our approach is to start with the pain points of our potential users and build solutions based on those insights,” said James Young, CEO of Scope AI Corp. “We believe in understanding the real-world challenges faced by our partners, rather than falling into the common software trap of ‘build it and they will come.’ This collaboration ensures that GEM is not just another tool, but a solution that addresses the specific needs of the advertising community.”
Scope AI’s commitment to innovation and user-centric development is further evidenced by its expanding development team, which is focused on incorporating feedback from these collaborations into the GEM platform. By doing so, Scope AI aims to deliver cutting-edge AI solutions that drive growth, productivity, and campaign performance in the advertising technology sector.
About Scope AI Corp.:
Scope AI Corp. is a leading technology company headquartered in Vancouver, British Columbia, dedicated to advancing the field of artificial intelligence. With a focus on visual recognition and neural network technology, Scope is committed to empowering businesses and industries with innovative solutions that drive growth and innovation.
For more information please visit Scope AI Corp., [email protected], or follow along on social media.
LinkedIn: scope-ai-corpFacebook: Scope AI CorpTwitter: https://twitter.com/ScopeAICorp
Contact Information James Young, Chief Executive Officer(604) [email protected]
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements that constitute forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities legislation. All statements in this news release that are not purely historical statements of fact are forward-looking statements and include statements regarding beliefs, plans, expectations, future, strategy, objectives, goals and targets, and more specifically, the use of proceeds of the Offering. Although the Company believes that such statements are reasonable and reflect expectations of future developments and other factors which management believes to be reasonable and relevant, the Company can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: “believes”, “expects”, “aim”, “anticipates”, “intends”, “estimates”, “plans”, “may”, “should”, “would”, “will”, “potential”, “scheduled” or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements involve known and unknown risks and are based on assumptions and analyses made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments, including, but not limited to, those risks and assumptions described in the Company’s prospectus dated August 10, 2022, a copy of which is available under the Company’s profile on SEDAR at www.sedar.com. While Scope considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this press release. In addition, forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions, continued satisfaction of Canadian Securities Exchange requirements, product safety and recalls, regulatory compliance and risks associated with the Company’s business. For more information on the risks, uncertainties and assumptions that could cause anticipated opportunities and actual results to differ materially, please refer to the risk factors set out in the Company’s prospectus dated August 10, 2022, a copy of which is available under the Company’s profile on SEDAR at www.sedar.com. Forward-looking statements are made as of the date of this news release and, unless required by applicable law, the Company assumes no obligation to update the forward looking statements or to update the reasons why actual results could differ from those projected in these forward-looking statements. All forward-looking statements are qualified in their entirety by this cautionary statement.
The Canadian Securities Exchange has in no way passed upon the merits of the business of the Company and has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
Logo – https://mma.prnewswire.com/media/2414853/4733184/Scope_AI_Corp_logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/scope-ai-engages-with-ad-agencies-and-networks-to-optimize-gem-platform-302158644.html

Continue Reading

Trending