The market for neurological games technology is booming worldwide
Neurological Gaming 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 the latest analysis from Emergen Research. Growing advancements in sensing technology are expected to support market revenue growth over the forecast period. Also, the growing demand for console based therapies will drive the growth of the market. A large volume of real-time data in the form of brain waves is captured using EEG (electroencephalogram) sensors, which are then processed and analyzed using sophisticated algorithms. Similarly, VR/AR technology has an Inertial Measurement Unit (IMU) which consists of three types of sensors including an accelerometer, gyroscope and magnetometer, which is used to detect relative location and motion. from the user’s head.
In addition, the growing demand for console therapy, which involves the integration of console games for neurological rehabilitation, is another major driver of revenue growth in the global neurological gaming technology market.
The growing demand for remote control devices has led to the development of new and better solutions to control devices remotely and improve user interaction. These are the key factors expected to drive the market revenue growth significantly.
However, high investment cost in BCI technology, lack of skilled manpower and lack of proper governance framework are expected to hamper the market revenue growth over the forecast period.
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Some highlights of the report
Software segment revenue is expected to grow at a significantly rapid CAGR during the forecast period owing to the growing demand for sophisticated algorithms used to convert brain signals into machine language.
The augmented reality (AR) technology segment is expected to witness a significantly robust revenue growth rate over the forecast period owing to the growing adoption of AR technologies by market players to enhance user experience.
North America is expected to register a higher revenue growth rate in the neurological gaming technology market during the forecast period than in other regional markets owing to the strong presence of international technology solution providers and national companies including 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.
Some major companies in the global market report include EMOTIV, Inc., Smart Eye AB., Qneuro Inc., Bit & Brain Technologies SL, Ultraleap Ltd., EON Reality Inc., Magic Leap, Inc., Leap Motion, Inc. , Niantic, Inc. and Neuralink Corporation.
In July 2021, EMOTIV, Inc., raised $50.0 million in a Series B funding round to make text marketing more conversational. The platform focuses on text marketing, which is similar to an actual conversation with a human being, rather than just an email. The new round of investment allowed the company to continue product development to grow its workforce to more than 200 people and open offices in Atlanta and Boston.
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Emergen Research has segmented the global neurogaming technology market based on components, technology, end-use, and region:
Components Outlook (Revenue, USD Billion; 2021-2030)
Technology Outlook (Revenue, USD Billion; 2021-2030)
Augmented reality (AR) technology
Virtual reality (VR) technology
End-Use Outlook (Revenue, USD Billion; 2021-2030)
Regional Outlook (Revenue, USD Billion; 2021-2030)
The rest of Europe
Rest of APAC
Rest of LATAM
Middle East and Africa
United Arab Emirates
Rest of MEA
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1 Scope of the report
1.1 Market Overview
1.2 Research objectives
1.3 Years considered
1.4 Market research methodology
1.5 Economic indicators
1.6 Currency considered
2 Executive summary
3 Global Neurological Gaming Technology by Players
4 Neurological Gaming Technology by Regions
4.1 Neuro Gaming Technology Market Size by Regions
4.2 Americas Neuro Gaming Technology Market Size Growth
4.3 APAC Neuro Gaming Technology Market Size Growth
4.4 Europe Neurogaming Technology Market Size Growth
4.5 Middle East & Africa Neuro Gaming Technology Market Size Growth
8 Middle East and Africa
9 Market Drivers, Challenges and Trends
9.1 Market Drivers and Impact
9.1.1 Growing Demand from Key Regions
9.1.2 Growing Demand from Key Applications and Potential Industries
9.2 Market Challenges and Impact
9.3 Market trends
10 Global Neuro Gaming Technology Market Forecast
Analysis of the 11 key players
12 Research findings and conclusion
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Finally, all aspects of the Neurological Gaming Technology Market are quantitatively as well qualitatively assessed to study the Global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market based on market drivers, limitations and its future prospects.
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