Cognitive assessments are very beneficial as they determine a person's brain health by measuring and quantifying important aspects of brain functions such as memory, processing speed, reasoning capabilities and many others. These assessments can last from a couple of hours to a couple of days depending on the type of test. This help to explore the difficulties in learning that the user is facing, their IQ level, and their cognitive strength and weaknesses.
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Global cognitive assessment and training market is expected to reach USD 15,646.19 million by 2028 from USD 3,473.22 million in 2020 growing with the CAGR of 22.7% in the forecast period of 2021 to 2028. The major factors driving the growth of the cognitive assessment and training market is growing adoption of gamification for cognitive assessment, rising demand for various cognitive assessment solutions and services, growing awareness for brain fitness, rising demand to understand and enhance neuroplasticity of brain, increased use of smartphones and tablets and increased spending on research by healthcare sector.
Growing awareness of mental fitness and rising demand to enhance the neuroplasticity of brain across the world will drive the market's growth rate
In April 2020, Min Chun Lee and Kyeongho Byun along with other fellow mates on the growing demand of brain fitness and how it affects the behaviour and development of an individual. Increasing awareness among various age groups regarding mental fitness for their numerous advantages is the major factor driving the market's growth. Numerous benefits of integrating gamification in cognitive training assessments, which boosts the formation of new memories and simulates positive brain changes, is the major factor driving the market's growth.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2021 to 2028
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Base Year
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2020
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Historic Years
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2019 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Offering (Solutions and Services), Mode of Assessment (Online and Offline), Type of Assessment (Hosted Assessment, Biometrics Assessment, Personal Interview and Pen and Paper Based Assessment), Age (Seniors (Above 60 Years), Adults (25-60 Years), Children (Below 14 Years) and Youth (15-24 Years)), Application (Health & Clinical Assessment, Brain Training, Memory Assessment, Research, Classroom Learning, Corporate Learning and Others), Industry (Healthcare, Education, Government, Corporate, Defense, Sports and Others)
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Countries Covered
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U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
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Market Players Covered
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LearningRx (U.S.), Quest Diagnostics Incorporated (U.S.), Koninklijke Philips N.V. (Netherlands), Medavante-Prophase Inc. (U.S.), Akili Interactive Labs, Inc. (U.S.), pymetrics, Inc. (U.S.), VeraSci (U.S.), Lumos Labs, Inc. (U.S.), Signant Health (U.S.), CogniFit (U.S.), ImPACT Applications Inc. (U.S.), Cogstate Ltd. (Australia), Brain9D (India), BrainWare Learning Company (U.S.), Cambridge Cognition Ltd (Australia), CNS Vital Signs, LLC (U.S.), Cognadev, Cogniciti Inc. (South Africa), Elevate Labs (Canada), Memorado (U.S.), Predictive Success Corporation (Canada), Savonix, Inc. (U.S.) among others.
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis:
Global cognitive assessment and training market is segmented into six notable segments which are based on offering, mode of assessment, type of assessment, application, industry and age.
- On the basis of offering, the cognitive assessment and training market has been segmented into solutions and services. In 2021, solutions segment is expected to dominate the cognitive assessment and training market with 79.39% market share due to high initial investment.
- On the basis of mode of assessment, the cognitive assessment and training market has been segmented into online and offline. In 2021, online segment is expected to dominate cognitive assessment and training market with 81.95% market share due to digital transformation of offline technologies.
- On the basis of type of assessment, the cognitive assessment and training market has been segmented into hosted assessment, biometrics assessment, personal interview and pen and paper based assessment. In 2021, hosted assessment segment is expected to dominate cognitive assessment and training market with 41.75% market share as it has wide reach and has uniform techniques for cognitive assessment and training.
- On the basis of application, the cognitive assessment and training market has been segmented into health & clinical assessment, brain training, memory assessment, research, classroom learning, corporate learning and others. In 2021, health & clinical assessment segment is expected to dominate cognitive assessment and training market with 30.66% market share as cognitive assessment is majorly used in clinical trials in order to maintain the functionality of elderly brain.
- On the basis of age, the cognitive assessment and training market has been segmented into children (below 14 years), youth (15-24 years), adults (25-60 years) and seniors (above 60 years). In 2021, seniors (above 60 years) segment is expected to dominate cognitive assessment and training market with 45.58% market share due to as cognitive trainings are mostly used in medical trials where most of the candidates are senior citizen.
The seniors (above 60 years) segment will dominate the age segment of the cognitive assessment and training market
The seniors (above 60 years) segment will emerge as the dominating segment under age segment. This is because of the growing number of technological advancements in the market especially in the developing economies. Further, growth and expansion of research development services on a global scale will further bolster the growth of this segment.
- On the basis of industry, the cognitive assessment and training market has been segmented into healthcare, education, government, corporate, defense, sports and others. In 2021, healthcare segment is expected to dominate cognitive assessment and training market with 35.23% market share as this sector is rapidly adopting such technologies; also this segment coherently grows with application segment.
The healthcare segment will dominate the industry segment of the cognitive assessment and training market
The healthcare segment will emerge as the dominating segment under industry with approximately 35.00% market share. This is because of the growing number of infrastructural development activities in the market especially in the developing economies. Further, growth and expansion of the ICT industry all around the globe will further bolster the growth of this segment.
Major Players
Data Bridge Market Research recognizes the following companies as the market players in market: LearningRx (U.S.), Quest Diagnostics Incorporated (U.S.), Koninklijke Philips N.V. (Netherlands), Medavante-Prophase Inc. (U.S.), Akili Interactive Labs, Inc. (U.S.), pymetrics, Inc. (U.S.), VeraSci (U.S.), Lumos Labs, Inc. (U.S.), Signant Health (U.S.), CogniFit (U.S.), ImPACT Applications Inc. (U.S.), Cogstate Ltd. (Australia), Brain9D (India), BrainWare Learning Company (U.S.), Cambridge Cognition Ltd (Australia), CNS Vital Signs, LLC (U.S.), Cognadev, Cogniciti Inc. (South Africa), Elevate Labs (Canada), Memorado (U.S.), Predictive Success Corporation (Canada), Savonix, Inc. (U.S.).
Market Development
- In July 2020, pymetrics, Inc. had a partnership with Infosys Limited which has been working on Reskill & Restart Platform that is designed specifically for providing online platform for the aptitude and skills assessment followed by curated job-specific skills training. The company has enhanced its business portfolio with the partnership that has also boosted the brand value of the company in the global market.
- In September 2020, Signant Health has launched a new Master Class web series which is designed specifically to boost the understanding skills of clinical operations professionals which are interested in electronic clinical outcome assessments (eCOA). The complimentary and educational class launches deal among three courses along with 16 on-demand lessons that is designed for all levels of eCOA experience taught by clinical research science and technology experts. The company is going to enhance its business portfolio turning more income for it.
Regional Analysis
Geographically, the countries covered in the market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
As per Data Bridge Market Research analysis:
North America is the dominant region in cognitive assessment and training market during the forecast period 2021 - 2028
As a result of the existence of numerous significant companies in the U.S., this nation is anticipated to control the industry. In addition, they are giving cognitive exams to both active-duty soldiers and veterans in their defense forces to boost their resilience.
Asia-Pacific is estimated to be the fastest-growing region in cognitive assessment and training market the forecast period 2021 - 2028
China is predicted to lead growth as older individuals enroll in cognitive tests to monitor their brain health. Additionally, doctors are using remote monitoring systems to keep an eye on their patients.
COVID-19 Impact
The COVID-19 epidemic has compelled organisations to adopt digital cooperation and production. Organizations that had been putting off their digital transformation are now moving quickly toward tech-driven advanced technologies. Profiting from the digital transformation of the pandemic are important providers of cognitive evaluation and training. Because cognitive evaluation and training software may be provided without direct contact, COVID-19 has had little influence on the market. On the other hand, manufacturers of hardware components face serious production issues. Since all international import and export has been banned, the supply chain for cognitive evaluation and training equipment has been disrupted. Market participants are focusing more and more of their efforts on the sale of platforms, services, and software.
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