Cognitive Assessment and Training Market
Cognitive Assessment and Training Market: Information by Application (Data Management), Organization Size (SMEs), Industry Vertical (Healthcare, Education), and Region — Forecast till 2029
Market Overview
Cognitive Assessment and Training develop a computing ability that provides a physiological assessment of the individual with personalized checkups. Cognitive training provides personalized psychological tests and e-learning modules for the training.
Development in the healthcare sector and increasing awareness about mental fitness is expected to propel the market of Cognitive assessment and training. Additionally, the solutions and services provide integration of Artificial Intelligence and Human Intelligence to produce better results in creative tasks, especially, in the field of education and healthcare.
The global Cognitive Assessment and Training market is anticipated to propel with a skyrocketing CAGR of 26.28% during the forecast period.
The strong use of automation in healthcare operations and Cognitive Assessment and Training to elevate the physiological service standards after consultation sessions with physiologists is anticipated to fuel the market growth.
As per the analysis by StraitsResearch, Deep learning technology is soaring new heights in the global market. The market is estimated to generate US$ 5.8 trillion by the end of 2020 and is also boosting the next level of innovation in computing ability.
The increasing population of the elderly in countries such as South Korea and Japan has increased the expenditure on healthcare services across these regions. The investments are subsequently providing new opportunities for the development of the cognitive assessment and training market. These products also help to reduce the risk of Dementia, identified as prominent neurological disorders which are expected to augment the application of these services across the globe. Extensive level of stress, consumption of unhealthy diet, and use of psychoactive drugs also contribute to considerable development of cognitive stimulation. Cognitive assessment and training solutions act as protective countermeasures and remedies for neurological disorders.
Cognitive Assessment and Training provides evaluation and testing using Artificial Intelligence, Neuroscience, and Psychology to provide dynamic reorganization of higher cerebral functions, in challenging problems related to neurological disorders. Brain plasticity which also known as cortical remapping and neuroplasticity has cemented the theory of modification of cognitive function across varied age groups. Cortical remapping is expected to record skyrocketing growth in the cognitive assessment and training market.
Cognitive training services are developed to provide users with a better ability to think, examine, and contemplate the situations and make decisions. Regular training sessions help to develop concentration, planning, learning ability, sequencing, and perception. Thus, strong implementation of automation in complex and unstructured tasks related to cognition training increases the efficiency and develops better solutions.
Market Snapshot
Segmental Analysis
By Application
In terms of application segment, Cognitive training is anticipated to cater major share in the global market. Machine Learning algorithms powered by Artificial Intelligence help customers operating in the healthcare sector. Integration with intuitive technology would provide a wide range of innovative options for modular product developments according to the best-suited needs of the customers.
Cambridge Neuropsychological Automated Test Battery (CANTAB) is a training module that helps in treating patients with severe psychiatric disorders. The evaluation of the psychiatric conditions revealed that 80% of the patients with stress-related health issues and brain-related problems are suffering with some levels of psychiatric disorder. These disorders can be easily cured using Cognitive training. The application of these solutions for a vast customer base will provide new development avenues for the market.
By Industry Vertical
In the Industry vertical segment, the healthcare segment is anticipated to dominate the market as most of the cognitive assessment and training-related services are developed to treat neurological disorders and psychiatric mental conditions. Promising developments in the healthcare sector to improve its performance will cater to the growth of the market.
Regional Analysis
North America
North American market is expected to hold a noteworthy share in the global market. The adoption of Artificial Intelligence and Cognitive Assessment and Training in the sector such as e-learning and the healthcare sector is cementing the development of the market. North America is also identified as the leader in the development of neurological treatment and a leader in dementia treatment. Such opportunities are anticipated to aid in maintaining its solid sales footprints in the global market.
In North America, gamification of the cognitive assessment and training services is on the rise which increases its popularity amongst kids and high school students. Results from the evaluations are helping the parents to identify the level of psychological development in the children.
Europe
Training gamification also witnessed a considerable spike in the Europe region. This development helped Europe to accumulate a considerable share in the global market. According to the study published by MyCognition Inc., which operates mainly in the U.K., patients treated using video games with a training of 90 minutes per week showed significant improvements in verbal memory performance. While the patients treated with other methods showed no significant improvement in their conditions.
Thus, effective implementation of cognitive assessment and training by integration of video games in development of training solutions is expected to project high market share for the regions of Europe and North America. These regions have great level of proliferation and popularity of video game applications which is the reason that this factor is expected to have a great impact on the market in the region.
Asia Pacific
According to our analysis, Asia Pacific is expected to emerge as the fastest-growing region in the market. The development is attributed to the increased willingness of private firms and public sector enterprises in implementing Cognitive Assessment and Training.
The Asia Pacific market is mainly governed by countries such as India, China, and Japan. Additionally, these countries will also provide a large market for consumers due to efforts of the governments in the countries to integrate digitization in the education and healthcare sector.
Top Key Players of Cognitive Assessment and Training Market
Global Vendors operating in the market of Cognitive Assessment and Training are
- Quest Diagnostics
- Pearson PLC
- BrainCheck
- Cambridge Cognition
- Philips
- MeritTrac
- BrainWare
- Cogstate
- Lumosity
- CogniFit Ltd.
- Microgate srl
- Tx Group
- Signant Health
- MedAvante-ProPhase
The global market players such as Pearson PLC, Philips are involved in developing the market share through an inorganic growth strategy to create a strong foothold in the market. The companies are efficiently working in direct collaborations with the end-user enterprise or with the small scale and midsized organizations making impressive developments in the Cognitive Assessment and Training market.
Educational service providers and healthcare service providers are identified as the target customer base for manufacturers in the market. Custom product developments to address the specific requirement of the customers is expected to be the key product strategy of the manufacturers.
The global and established market players are estimated to account for a considerable share in the global market. Whereas, increasing participation of regional players and domestic manufacturers also induce the degree of market fragmentation across the globe. Intense and fierce competition amongst the market players is providing the development of better and interactive products to stay competitive in the market and target customers from prominent industry verticals.
Report Scope
| Report Metric | Details |
|---|---|
| CAGR | 26.28% |
| Forecast Period | 2023-2031 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends |
| Segments Covered |
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| Geographies Covered |
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Cognitive Assessment and Training Market Segmentation
By Application
- Data Analysis and Reporting
- Data Management
- Cognitive Training
- Consulting Services
By Industry Vertical
- Healthcare
- Corporate businesses
- Government and PSUs
- Education
By Organization Size
- Small and Medium-scale Enterprise (SMEs)
- Large Enterprises
By Region
North America
- The U.S.
- Canada
- Mexico
Europe
- The U.K
- Italy
- France
- Spain
- Germany
- The Rest of Europe
The Middle East and Africa (MEA)
- Saudi Arabia
- Egypt
- South Africa
- The Rest of MEA
Asia-Pacific
- India
- China
- Japan
- Australia
- South Korea
- The Rest of Asia-Pacific
South America
- Columbia
- Chile
- Peru
- Argentina
- The Rest of South America
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