Brain Fingerprint Technology Market
Brain Fingerprint Technology Market - Global Industry Assessment & Forecast
- By Equipment Personal Computer, Data Acquisition Board, Graphics Card, Sensors, Four-Channel Electroencephalography (EEG) Amplifier System
- By Technique Brain Fingerprinting Testing, Scientific Procedure, Computer Controlled
- By Application National Security, Medical Diagnosis, Advertising, Criminal Justice
- By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
|Forecast Years:||2023 - 2030|
|Historical Years:||2017 - 2021|
|Revenue 2022:||USD 3.17 Billion|
|Revenue 2030:||USD 4.91 Billion|
|Revenue CAGR (2023 - 2030):||5.60%|
|Fastest Growing Region (2023 - 2030)||Asia Pacific|
|Largest Region (2022):||North America|
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Global Brain Fingerprint Technology Market is valued at USD 3.17 Billion in 2022 and is projected to reach a value of USD 4.91 Billion by 2030 at a CAGR of 5.60% over the forecast period.
The Brain Fingerprint Technology is a computer-based test that identifies, documents, and provides evidence of a crime. Additionally, it is frequently used to identify people who belong to oppressive psychological cells. This approach calculates electrical brain waves by evaluating the acknowledgment of natural increases in response to diverse data or information presented on a computer screen.
Brain Fingerprint Technology Market Size, 2022 To 2030 (USD Billion)
Lies are detected using technological solutions provided by market participants in the worldwide Brain Fingerprint Technology Market. To ascertain if a specific piece of information is actually stored in the subject's brain, these technologies enlist the assistance of electroencephalography, sometimes known as the "EEG" technique. A person's electrical brainwaves can be recorded and measured using methods in the global market for Brain Fingerprint Technology to determine their reactions to particular topics. In essence, methods in the global market for Brain Fingerprint Technology rely on particular event-related brain potentials to identify a connection between different pieces of knowledge within the subject's brain. Then, this is assessed by mapping the subject's brainwaves to determine how the subject's brain interprets particular pieces of the information presented.
The methods in the market for Brain Fingerprint Technology used for crime detection are utilized to gauge and show whether the individual exhibits any familiarity with the specifics of a particular crime or a crime scene. Many methods and techniques used in the global market for Brain Fingerprint Technology are still in the discovery stage and are regarded as debatable. In order to heighten and improve the accuracy of these testing technologies, participants and start-up investors in the worldwide Brain Fingerprint Technology Market are investing more and more in research. The two main drivers of the growth of the global market for Brain Fingerprint Technology are the need to quickly solve complicated crimes and increasing investments in counterterrorism initiatives.
Additionally, this technology is highly needed due to the development of AI, smart biometrics, sensors, and other tools used in brain fingerprinting. Moreover, the growing acceptance of this technology across judiciary systems across the globe is offering a profitable potential for market players. In addition, the constant R&D to produce new sophisticated and precise equipment required for brain fingerprinting is strengthening the market's growth.
● Counter Terrorism: The following crucial aspects of the battle against terrorism can be addressed with the aid of brain fingerprinting.
○ Aid in identifying those who have, directly or indirectly, supported terrorism.
○ Aid in locating terrorists with training who have the capacity to carry out new attacks, even if they are hiding out in a sleeper cell and haven't been active in years.
○ Identify those connected to terrorist groups and acts who have knowledge of or expertise in banking, finance, or communications.
○ Assist in figuring out whether a person is a leader within a terrorist group. The idea behind Brain Fingerprint Technology is that all human actions originate in the brain. There may or may not be supporting evidence in a terrorist act, such as DNA or fingerprints, but the criminal's mind is always active during the planning, carrying out, and recording of the crime. An innocent person would not be familiar with the groups, training, and plans that the terrorist is. Before the development of Brain Fingerprinting tests, there was no reliable technique to identify this essential distinction.
● Terrorist Activities: With the development of the Brain Fingerprinting system, an important scientific discovery has now been transformed into an applicable technology. Security and intelligence collection have entered a new era. The ability to rapidly and reliably identify terrorists and others who support terrorism has improved. Any terrorist should no longer be able to escape punishment due to a lack of proof. Furthermore, there is no justification for an innocent person to be wrongfully imprisoned or found guilty of terrorist action. One who is participating in terrorist activity and one who is not can be distinguished with an incredibly high degree of accuracy using a brain fingerprinting test.
● Criminal Justice: Determining who committed a crime is a crucial responsibility of the criminal justice system. The perpetrator of the crime has a record of the crime stored in their memory, whereas the innocent suspect has not. This is the main distinction between a guilty person and an innocent suspect. Before the development of Brain Fingerprinting tests, there was no reliable method for identifying this essential distinction. Testing for brain fingerprints cannot establish innocence or guilt. That is what a judge and jury are there to do. This innovative technology provides the judge and jury with fresh, factually sound material to aid in their decision-making. In only 1% of significant crimes are DNA and fingerprint evidence available. According to estimates, brain fingerprinting testing will be used in 60 to 70 percent of these serious crimes. There will be significant effects on the criminal justice system. Now is the time to greatly increase the efficiency of the entire system, from inquiries to parole hearings. Investigation and prosecution of innocent people will be significantly cheaper thanks to brain fingerprinting testing, which will also free up law enforcement personnel to focus on suspects who have verified, in-depth knowledge of the crimes.
● Medical: The patented technology known as "Brain Fingerprinting" allows researchers to test memory and cognitive performance in Alzheimer's patients objectively for the first time. Initial tests have demonstrated to be,
○ It could be commercially available in 18 to 24 months and is likely to be more accurate than other commonly used tests. A headband with integrated electrodes is worn during the 30-minute test, and technicians then show the patient with words, phrases, and images that they are both familiar with and unfamiliar with in order to check the patient's brain for the presence of information that should be there. The brain responds to familiar information by creating MERMERs, or particular elevations in cell activity. This response can be used by the technician to gauge how quickly information leaves the brain and whether any medications being taken are slowing it down.
COVID-19 Impact Analysis
The COVID-19 epidemic impacted numerous sectors of the economy. Governments worldwide implemented several measures to stop the virus from spreading, including the closure of public and private transportation, gathering places, and other non-essential activities. During the epidemic, the healthcare industry was under a great deal of stress. Several surgical procedures were delayed to stop the virus from spreading during the epidemic. In addition, convicts were freed from custody and placed under home confinement to prevent the virus from spreading inside prisons.
Additionally, courts were closed all across the world, which reduced the number of hearings. Because of the COVID-19 infection, there was a reduction in the use of brain fingerprinting in diagnosis. As global vaccination rates rise and hearings that were postponed are now taking place, the use of Brain Fingerprint Technology is anticipated to increase in the post-pandemic period, promoting market growth in the anticipated timeframe.
The Global Brain Fingerprint Technology Market is segmented based on Equipment, Technique, Application, and Region. Based on Equipment, the market is classified into Personal Computer, Data Acquisition Board, Graphics Card, Sensors, and Four-Channel Electroencephalography (EEG) Amplifier System. Furthermore, based on the Technique, the market is segmented into the Brain Fingerprinting Testing, Scientific Procedure, and Computer Controlled. In addition, based on the Application, the Brain Fingerprint Technology Market has been segmented into National Security, Medical Diagnosis, Advertising, and Criminal Justice. Region-wise, the Global Brain Fingerprint Technology Market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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Based on Application
Over the expected period, the criminal justice sector is anticipated to drive market expansion for Brain Fingerprint Technology. For every nation, the increase in criminal prosecutions around the world has been a serious issue. In such situations, it becomes challenging for the legal authorities to find the person guilty. Brain Fingerprint Technology is widely used in the detection of criminal cases thanks to the government's support and the growing advancement of technology. For instance, the Indian government employed this cutting-edge technology to prosecute those suspected of drug trafficking, rape, murder, and information extortion from terrorists. Additionally, the US judicial system endorses the use of Brain Fingerprint Technology, supporting the sector's expansion.
Based on Region
North America is expected to be the largest market for Brain Fingerprint Technology during the forecast period Due to the rising number of criminal cases in this region. For instance, 21,570 murder cases were reported in the United States in 2020. The use of brain fingerprinting on suspects in crimes is done with the judge's approval. The use of Brain Fingerprint Technology has been encouraged by the local government and legal systems, which has helped the market expand there.
On the other hand, The Asia-Pacific region is expected to experience rapid expansion in the brain fingerprinting industry. The region's developing economies are aiding the market expansion in this region. For instance, India was the second nation after the United States to adopt brain fingerprinting for crime detection and the first to convict an accused based on evidence from such devices. Over the anticipated timeframe, it is anticipated that similar acceptance of this technique by other nations in this region will spur the development of Brain Fingerprint Technology.
The key players in the Global Brain Fingerprint Technology Market include- Brain Fingerprinting Laboratories and others.
Segmentation of the Global Brain Fingerprint Technology Market:
|Regions & Countries Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|
Frequently Asked Question
What is the global demand for Brain Fingerprint Technology in terms of revenue?
The global Brain Fingerprint Technology valued at USD 3.17 Billion in 2022 and is expected to reach USD 4.91 Billion in 2030 growing at a CAGR of 5.60%.
Which are the prominent players in the market?
The prominent players in the market are Brain Fingerprinting Laboratories.
At what CAGR is the market projected to grow within the forecast period?
The market is project to grow at a CAGR of 5.60% between 2023 and 2030.
What are the driving factors fueling the growth of the market.
The driving factors of the Brain Fingerprint Technology include
- Increasing demand for biometrics
Which region accounted for the largest share in the market?
North America was the leading regional segment of the Brain Fingerprint Technology in 2022.