What is Consumer EEG Device?
Consumer EEG device is a wearable device for electroencephalography which tracks brain activities through electrodes placed in an array along with the user or research subject and improves brain activity through neurofeedback. The EEG headset helps to make meditation easy, sleep management, improve concentration, mental acuity, and enable lucid dreaming. The EEG is also used for neuroscience research, medical research, understanding certain medical conditions, and brain-computer interfaces. However, the evolution of portable and wireless connectivity EEG devices has led laboratories or research labs to adopt new cutting-edge EEG devices due to their flexibility and ideal in everyday situations.
The market study is broken down by Type (Wet EEG Devices, Gel-based, Saline Solution, Dry EEG Devices and Others), by Application (Brain-computer interfaces (BCI), Biometrics, Custom Solutions, Neuroscience and Clinical Applications and Neuromarketing) and major geographies with country level break-up.
The global market is highly competitive and consists of a limited number of providers and companies that are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analysts at AMA Research estimates that Players from United States will contribute to the maximum growth of Global Consumer EEG Device market throughout the predicted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
NeuroSky (United States), Emotiv (United States), Advanced Brain Monitoring (United States), Wearable Sensing (United States), Muse (Canada), Neurable Inc. (United States), NextMind (France), Neuroelectrics (Spain), Neeuro (Singapore) and IMEC (Belgium) are some of the key players that are part of study coverage.
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Consumer EEG Device market by Type, Application and Region.
On the basis of geography, the market of Consumer EEG Device has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Channel Type, the sub-segment i.e. 2 Channel EEG will boost the Consumer EEG Device market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Connectivity Technology, the sub-segment i.e. Cable will boost the Consumer EEG Device market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
In October 2018, Emotiv partnered with global software and technology solution provider SAP to develop an adaptive user experience (UX) for improved well-being and productivity at work. By this partnership, Emotiv will become a leader in exploring an exciting new era in human-enterprise UX with the aim of providing people with a custom view of their work coupled with hands-free interaction. With the analysis of people’s real-time cognitive states, it can give users helpful feedback about their cognitive load, stress, and attention levels
In June 2020, the US-based bio-informatics and technology solution provider Emotiv launched a new Emotiv MN8 to create brain data-driven applications with EEG buds. This will allow users to measure stress and to create apps that are responsive to one’s brain activity to inform workplace strategies aiming at improving learning, well-being, safety, and productivity. The device can be connected via Bluetooth connectivity to the iOS and Android mobile apps.
Market Trend
- Evolution of Wireless Connectivity and Sensors in Consumer EEG Device.
Market Drivers
- Increasing Demand of EEG for Various Neuroscience Activities to Get Idea How Brain Acts During Different Situations.
Opportunities
- Increasing Number of Sleeping Disorder, Anxiety, and Epilepsy Patients Due to Changing Lifestyle and Workload, and Many Others Brain Related Diseases.
Restraints
- Some of the EEG Modalities Face Signal Processing Issues.
Challenges
- EEG From Dry Electrodes Contains Considerably More Artifacts and Noise than Wet Electrodes.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Consumer EEG Device Manufacturers, Consumer EEG Device Technology Service and Solution Providers, Suppliers and Distributors of Consumer EEG Device, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-Use Industry and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.