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Cognitive Assessment and Training Market by Component, Organization Size, Application, Vertical And Region - Global Forecast to 2025

Cognitive Assessment and Training Market by Component, Organization Size, Application, Vertical And Region - Global Forecast to 2025

  • October 2020
  • 258 pages
  • ID: 5084752
  • Format: PDF
  • MarketsandMarkets

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The global cognitive assessment and training market size grew from USD 3.2 billion in 2020 to USD 11.4 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 29.3% during the forecast period. Various factors such as the rising adoption of gamification for cognitive assessment, social distancing practices resulting in increased adoption of eLearning, and the COVID-19 pandemic leading to the increased need to test cognition at home are expected to drive the adoption of the cognitive assessment and training market. The objective of the report is to define, describe, and forecast the cognitive assessment and training market size based on component, organization size, application, vertical, and region.
With the growing focus on mental health and cognitive assessment and training solutions to be leveraged virtually, the market is witnessing significant growth.Various factors, such as the rising adoption of gamification for cognitive assessment, social distancing practices resulting in increased adoption of eLearning, and the COVID-19 pandemic resulting in the increased need to test cognition at home, are expected to drive the adoption of the cognitive assessment and training market.

The growing need for technological advancements in the healthcare industry during COVID-19, the rising demand for improved brain and mental fitness, and the increasing need for remote patient care in the COVID-19 pandemic scenario would provide opportunities for market growth.However, the market faces restraints, such as time constraints in developing clinically validated brain training solutions and negative publicity in media of brain training efficiency.

The high dependency on traditional assessment methods and the lack of awareness of brain fitness among the current population are the key challenges in the adoption of cognitive assessment and training solutions and services.

The services segment to grow at a higher CAGR during the forecast period
The cognitive assessment and training market is segmented on the basis of components, such as solutions and services.The services segment is expected to grow at a rapid pace during the forecast period.

The growth can be attributed to the increasing demand for training and support services by end user to effectively evaluate the cognitive ability of the individuals to better assist and train for future development and growth.

The data management solutions segment to grow at the highest CAGR during the forecast period
The cognitive assessment and training market by solution has been segmented into assessment, data management, data analysis and reporting, cognitive training, and others (rater training, concession management, and screening solutions). The data management segment is expected to witness rapid growth in adoption due to the rising need for pharmaceuticals to increase data accuracy and to make informed decisions related to clinical drug development for treating patients.

The learning applications segment to grow at the highest CAGR during the forecast period
The cognitive assessment and training market by application has been segmented into clinical trials, learning, research, and others (diagnostics, patient engagement, and recruitment). The learning segment is expected to witness rapid growth due to to rising concerns of organizations to increase mental ability of employees to yield better productivity in future job performance within organizations.

Among verticals, education segment to grow at the highest CAGR during the forecast period
The cognitive assessment and training market by industry vertical has been segmented into healthcare and life sciences, education, corporate, and others (sports and government and defense). The education vertical is expected to register the highest CAGR during the forecast period; the growth can be attributed to the increasing concern of educators to understand student’s imagination and learning skills and accordingly prepare study materials to develop necessary life skills for the future growth of students.

Among regions, Asia Pacific (APAC) to grow at the highest CAGR during the forecast period
APAC is expected to grow at the highest CAGR during the forecast period. The increasing investments by the tech companies in major APAC countries, such as China, and Japan, increasing government regulations and initiatives are expected to drive the growth of the market in APAC.

Breakdown of primaries
In-depth interviews were conducted with Chief Executive Officers (CEOs), innovation and technology directors, system integrators, and executives from various key organizations operating in the cognitive assessment and training market.
• By Company: Tier I: 34%, Tier II: 43%, and Tier III: 23%
• By Designation: C-Level Executives: 50%, Directors: 30%, and Others: 20%
• By Region: North America: 25%, APAC: 30%, Europe: 30%, MEA: 10%, and Latin America: 5%

The report includes the study of key players offering cognitive assessment and training solutions and services.It profiles major vendors in the global cognitive assessment and training market.

The major vendors in the global cognitive assessment and training market are Cambridge Cognition (UK), Cogstate (US), Quest Diagnostics (US), Signant Health (US), Total Brain (US), Pearson (UK), Philips (Netherlands), Signant Health (US), MedAvante-ProPhase (US), CogniFit (US), ERT (US), VeraSci (US), BrainCheck (US), MeritTrac (India), Berke (US), Neurotrack (US), BrainWare (US), Lumosity (US), The Brain Workshop (UAE), ImPACT Applications (US), Savonix (US), Winterlight Labs (Canada), Aural Analytics (US), Unmind (UK), Kernel (US), and Altoida (US).

Research Coverage
The market study covers the cognitive assessment and training market across segments.It aims at estimating the market size and the growth potential of this market across different segments, such as components, organization size, application, vertical, and regions.

It includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report
The report would provide the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall cognitive assessment and training market and its subsegments.It would help stakeholders understand the competitive landscape and gain more insights better to position their business and plan suitable go-to-market strategies.

It also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

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