Trimble (TRMB - Free Report) recently collaborated with Neurable, in a bid to bolster transportation, architecture, engineering and construction (AEC) industries.
This collaboration is aimed at enhancing productivity and user safety by bringing brain-computer interface (“BCI”) technology for application in real world. Moreover, the companies will leverage neurotechnology to provide users with hands-free and voice-free interaction experiences.
By combining bio signals from brain with eye tracking technology, the company will enable users to effectively interact and communicate information. Further, it will not only look after the well-being of the driver but also the high-risk front-line workers in the AEC industry.
We believe Trimble is poised to benefit from the partnership considering Neurable’s robust innovations in neuroscience coupled with its own Mixed-Reality Program.
Coming to price performance, shares of Trimble have fallen 27.9% over a period of one year, compared with the industry’s decline of 18.2%.
BCI Market Growth Prospects
The BCI technology creates a pathway between a wired brain and an external device such as computers or (IoT) devices.
Per reports, the global market for BCI technology is expected to witness a compounded annual growth rate of 22.8% between 2018 and 2023, driven by an increasing demand for sensor technology globally.
Notably, the BCI technology finds its application in healthcare by enabling movement in a physically challenged individual. Moreover, it is also being utilized by gaming enterprises to give the users an enhanced augmented reality (“AR”) experience.
Consequently, the collaboration benefits both the companies on the back of growing demand in this domain.
Trimble Inc. Price and Consensus