Rising advancements in sensing technology and rising demand for console-based therapy are some key factors driving market revenue growth.
Neurological game technology Market size reached USD 6.29 billion in 2020 and is expected to register a revenue CAGR of 12.2% during the forecast period, according to latest analysis by Emergen Research. Rising advancements in sensing technology are expected to support market revenue growth during the forecast period. Besides, rising demand for console-based therapy will boost market growth. Large volume real-time data in form of brain waves is captured using EEG (Electroencephalogram) sensors, which are further processed and analyzed using sophisticated algorithms. Similarly, the VR/AR technology has an Inertial Measurement Unit (IMU) which consists of three types of sensors, including an accelerometer, a gyroscope and a magnetometer, which is used to detect the relative location and motion of the user’s head.
Besides, rising demand for console-based therapy which involves integrating console-based gaming for neurological rehabilitation, is another major factor driving growth of global neurological game technology market revenue.
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Key Companies Profiled in the Report:
EMOTIV, Inc., Smart Eye AB., Qneuro Inc., Bit & Brain Technologies S.L., Ultraleap Ltd., EON Reality Inc., Magic Leap, Inc., Leap Motion, Inc., Niantic, Inc., and Neuralink Corporation.
Further rising demand for remotely operated devices has led to development of new and better solutions to control devices remotely and enhance user interaction. These are the key factors expected to drive the growth of the market revenue significantly.
However, high cost of investment in BCI technology, lack of skilled workforce, and a lack of proper governance framework are expected to hamper market revenue growth during the forecast period.
The report offers insightful information about the market dynamics of the Neurological Game Technology market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Neurological Game Technology market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Neurological Game Technology market.
Radical Highlights of the Neurological Game Technology Market Report:
- Comprehensive overview of the Neurological Game Technology market along with analysis of the changing dynamics of the market
- Growth Assessment of various market segments throughout the forecast period
- Regional and global analysis of the market players, including their market share and global position
- Growth strategies adopted by key market players to combat the impact of the COVID-19 pandemic on the market
- Impact of the technological developments and R&D advancements on the Neurological Game Technology market
- Information about profit-making strategies and developmental strategies of major companies and manufacturers
- Insightful information for the new entrants willing to enter the market
- Details and insights about business expansion strategies, product launches, and other collaborations
- The report incorporates advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, feasibility analysis, and investment return analysis
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Some Key Highlights From the Report
- Software segment revenue is expected to expand at a substantially rapid CAGR during the forecast period due to rising demand for sophisticated algorithms that are used to convert brain signals into machine language.
- Augmented Reality (AR) technology segment is expected to register a significantly robust revenue growth rate over the forecast period owing to increasing adoption of AR technologies by market players for improving user experience.
- North America is expected to register a larger revenue growth rate in the neurological game technology market over the forecast period than other regional markets owing to robust presence of international and domestic technology solution providers which include BCI, AR technology, VR technology and haptic technology such as Neuralink Corporation, EMOTIV, Inc., EON Reality Inc., and Qneuro Inc. among others in the region.
- In July 2021, EMOTIV, Inc., raised USD 50.0 million in a Series B funding round in order to make text marketing more conversational. The platform focuses on text marketing, which is similar to real-life conversation with a human being, rather than just another email. The new round of investment has allowed the company to continue development of the product in order to grow its headcount to more than 200 people and open offices in Atlanta and Boston.
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Emergen Research has segmented the global neurological game technology market on the basis of component, technology, end-use, and region:
- Component Outlook (Revenue, USD Billion; 2021–2030)
- Technology Outlook (Revenue, USD Billion; 2021–2030)
- Brain-Computer Interface
- Augmented Reality (AR) Technology
- Virtual Reality (VR) Technology
- Haptic Technology
- End-use Outlook (Revenue, USD Billion; 2021–2030)
- Regional Outlook (Revenue, USD Billion; 2021–2030)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- North America
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