In this rapidly changing world of technology, cognitive assessment & training market is projected to show major growth prospects during the forecast period. Major factor driving the cognitive assessment & training market is the increasing awareness for brain fitness. Increasing demand for cognitive assessment & training across various industry verticals is another major factor responsible for fueling the growth of cognitive assessment & training market.
Cognitive assessment is the process of gauging the mental capability of a person which is in turn related to a lot of basic abilities attributed to a human mind. It is basically carried out in order to determine a person’s learning ability by identifying their strengths and weaknesses and proper cognitive training is provided in order to overcome those weaknesses. Cognitive training is not just limited to adults. It is increasingly being implemented for students with learning difficulties and disabilities such as dyslexia and dyscalculia. Owing to this, there has been a considerable increase in the applications of cognitive assessment and training market. Increasing demand for brain training from the next generation population is one major factors driving the growth of cognitive assessment and training market.
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Major Key Players:
Cambridge Cognition Ltd. (U.K),
Cogstate Ltd. (U.S.),
Bracket Global (U.S.),
Medavante, Inc. (U.S.),
Quest Diagnostics, Inc. (U.S.),
ProPhase, LLC (U.S.),
Eresearchtechnology Inc. (U.S.),
Neurocog Trials, Inc. (U.S.), and Pearson Education (U.K)
According to MRFR, The global cognitive assessment and training market is expected to grow with approximately 25% of CAGR during forecast period 2017-2023.
Major industrial competitors like Cambridge Cognition Ltd., Cogstate Ltd. (U.S.), Bracket Global (U.S.), Quest Diagnostics, Inc. and Pearson Education among others are registering their presence in the cognitive assessment & training market. Pearson and Cognifit are the leading vendors in the field of education for training and assessment solutions and services. The increasing demand for cognitive assessment solutions and services is one of the major factors driving the growth of cognitive assessment & training market. Increased awareness for brain fitness is another major factor responsible for high growth of cognitive assessment & training market. This market has been segmented on the basis of component, assessment type, application and vertical. The component segment is bifurcated into solution and services segments. The solution segment is further sub-segmented into data management, project management, data analysis & reporting, assessment and others. Cognitive solutions are mainly used for monitoring and measuring cognitive changes and impairments. Whereas, the services segment is further bifurcated into consulting and training and support. Out of which, the services segment is expected to grow at the highest CAGR during the forecast period. This is owing to the increasing awareness about the cognitive training and assessments in schools and colleges.
North America region holds the largest market share of global cognitive assessment & training market followed by Europe and Asia Pacific regions. The growth in the North America region is mainly dominated by U.S. and Canada and is attributed to rise in technological enhancements and aging population in the region. The region also has a well-established infrastructure which allows implementation of advanced technologies. The growing demand for improving the neuroplasticity of the brain and increasing awareness about brain fitness are the major driving factors of cognitive assessment and training market in the region.
Cognitive assessment & training market can be segmented on the basis of following:
- Data Management
- Project Management
- Data Analysis & Reporting
- Training & Support
By Assessment Type
- Hosted Assessment
- Biometric Assessment
- Pen & Paper Based Assessment
- Classroom Learning
- Corporate Learning
- Brain Training
- Clinical Trials
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- Technology Investors
- Research/Consultancy firms
- Technology Solution Providers
- Government Bodies
- Software Vendors
- Healthcare practitioners
- Brain training companies
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