Brain Computer Interface (BCI) involves capturing and understanding of human brain waves, which are electrical signals generated by the brain. By analyzing these signals various parameters such as concentration levels, focus, and thoughts can be deciphered. These signals can then be used as input for controlling various kinds of devices. BCI is currently largely used in the healthcare sector. However, technological advances have led to adoption of BCI in different applications including consumer electronics. This research service assesses the current trends, radical innovations, drivers & challenges, stakeholder activities, patent and funding scenario, and impact of key innovations related to BCI.