What Is The Current and Historic Market Size Analysis Of Cognitive Assessment And Training Market?
The cognitive assessment and training market has seen considerable growth due to a variety of factors.
• The market for cognitive assessment and training has seen remarkable expansion in the recent past. It is projected to rise from $6.05 billion in 2024 to $7.59 billion in 2025, with a compound annual growth rate (CAGR) of 25.5%.
The surge during the historical phase can be ascribed to factors like a fast-growing elderly population, a surge in investment, amplified healthcare spending, and digital transformations.
What Are The Predictions for The Cognitive Assessment And Training Market Size In The Coming Years?
The cognitive assessment and training market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of cognitive assessment and training is poised for phenomenal expansion in the coming years. There is an anticipation of growth up to $18.33 billion by 2029, with a compound annual growth rate (CAGR) of 24.7%.
Rising health care spends, increasing demands for brain training among the younger populace, and proliferation in investments are key contributors to the growth expected in this forecast period. The primary trends for this period include emphasis on emerging artificial intelligence, development of mobile applications, merger and acquisition activities, and focus on neuropsychological testing and assessment methods.
Which Factors Are Boosting Growth In The Cognitive Assessment And Training Market?
The expansion of the cognitive assessment and training market is anticipated to be driven by the rising trend towards e-learning. E-learning refers to instruction delivered via digital platforms such as computers. An essential component of online learning is the assessment. Cognitive assessments provide an overview of a person's scholarly abilities and obstacles, giving a structured picture of their performance, which aids in monitoring progress in e-learning. The adoption of e-learning has escalated significantly, thereby boosting the demands for cognitive evaluations. For example, in January 2024, data from Eurostat, the statistical office of the European Union based in Luxembourg, revealed that 30% of EU internet users aged between 16 and 74 enrolled in online education in 2023, a rise from 28% in 2022. The Netherlands reported the highest enrolment at 54%, followed by Finland at 53% and Sweden at 48%. Consequently, the popularity of e-learning is fuelling the expansion of the cognitive assessment and training market.
What Are The Core Segments Of The Globa Cognitive Assessment And Training Market?
The cognitive assessment and training market covered in this report is segmented –
1) By Component: Solutions, Services
2) By Organization Size: Small And Medium-sized Enterprises (SMEs), Large Enterprises
3) By Vertical: Healthcare And Life Sciences, Education, Corporate, Other Verticals
4) By Application: Clinical Trials, Learning, Research, Other Applications
Subsegments:
1) By Solutions: Assessment Tools And Software, Cognitive Training Programs, Gamified Cognitive Training Applications, E-Learning Platforms For Cognitive Skills Development
2) By Services: Consulting And Advisory Services, Custom Cognitive Training Program Development, Workshops And Seminars, Support And Maintenance Services For Assessment Tools
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Which Emerging Trends Are Reshaping The Cognitive Assessment And Training Market Size?
Primary stakeholders are investing in the creation of mobile applications and software loaded with cutting-edge technologies like artificial intelligence and the Internet of Things to influence the development of the cognitive assessment and training market. The primary goal is to focus on technological advancements and introduce new products for improved results and enhanced market offerings. To illustrate, a US sports company named S2 Cognition unveiled a Mobile Testing Lab for athletes in October 2022. This Mobile Testing Lab provides cognitive evaluations at event venues which accommodate large gatherings of athletes for competitions and camps.
Who Are the Key Players in the Cognitive Assessment And Training Market?
Major companies operating in the cognitive assessment and training market include:
• Pearson plc
• Quest Diagnostics
• Koninklijke Philips N.V
• Cogstate Ltd
• CogniFit Ltd
• Cambridge Cognition Ltd
• MeritTrac Services Pvt Ltd
• WIRB-Copernicus Group
• Signant Health
• BrainCheck
• Looxid Labs
• Sensus Cognition
• Gradians.com
• APTitude
• QuodeIT
• Kareermatrix
• Mytat
• CALCI
• Vprep
• Medavante-Prophase Inc.
• pymetrics. Inc.
• Lumos Labs. Inc.
• ACE Applied Cognitive Engineering Ltd.
• Arrowsmith Program
• BrainWare Learning Company
• Total Brain
• VeraSci
• Berke
• Neurotrack
• Lumosity
• Brain9D
What are the Regional Insights into the Cognitive Assessment And Training Market?
North America was the largest region in the global cognitive assessment and training market in 2024. Asia-Pacific is expected to grow faster in the forecast period. The regions covered in the cognitive assessment and training market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
