The Global Cognitive Assessment & Training Market size is expected to reach $11.4 billion by 2026, rising at a market growth of 26.6% CAGR during the forecast period. Cognitive assessment & training is a formal test that evaluated a person’s psychological functioning and speed of information processing.
The cognitive tests help in increasing the focus of the individual to increase their efficiency and productivity. The increasing older population and increased healthcare spending also act as a major driver for the market growth during the forecast period. The increasing use of smartphones and tablets makes these tests easily accessible. Thus, it provides direction for the growth of the industry in the next decade.
One of the major neurological diseases in the world is Dementia, which can be detected by these cognitive solutions will boost the market during the forecast period. There are many advantages that these solutions provide such as personality management, psychological education for individuals, and sports management. There is an increasing number of students, who are appearing for the competitive exam which can further boost the growth of the market over the forecast period. The players operating in the market will increase the quality of the solutions and competition in the market that further contribute to the growth of the market. The information technology advancement also results in improving the quality of the cognitive solutions that will surge its demand.
At present, the global cognitive assessment and training market is observing vigorous growth. The cognitive assessments and training solutions are helping to detect the cognitive impairment signs at the initial stages. These solutions were initially used for conducting a formal assessment of the patient for their psychological functioning and the speed of information processing. Some impairment can be caused due to human aging, some are neural disorders and some are the result of exposure to drugs or medicines. The solution is combined with many tools for assessment, data analysis, and management that support the cognitive training, sports management, and detecting dementia at the initial stage for individuals, which are administered during the classroom sessions, clinical trials, research, brain training, corporate teaching, and diagnostics.
Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium-sized Enterprises (SMEs). The Large Enterprises market dominated the Global Cognitive Assessment & Training Market by Organization Size 2019. The Small & Medium-sized Enterprises (SMEs) market is expected to witness a CAGR of 28.9% during (2020 - 2026).
Based on Component, the market is segmented into Solution and Services. Solutions Segment is further bifurcated into Assessment & Data Management, Data Analysis & Reporting and Cognitive Training & Others. The services group is estimated to grow at a rapid speed during the forecast period. The growth is driven by the increasing demand for training and support services by the end-users to assess the cognitive ability of a person effectively and help the person by training and assisting for the future development and growth.
Based on Application, the market is segmented into Clinical Trials, Research, Learning and Others. The learning segment is estimated to register rapid growth due to the increasing concerns of the organizations to uplift the mental ability of the employees to improve their productivity in the future and perform better in the organization.
Based on End User, the market is segmented into Healthcare & Life Sciences, Education, Corporate and Others. The market of cognitive assessment is attributed to the rising adoption of gamification in the assessment techniques. The gamification adds up to the assessment process and offers better engagement, along with maintaining the value of the process. Moreover, the advancement of cognitive assessment and training tools is increasing the adoption across the corporates in the recruitment process to evaluate the competency of the person.
| Report Attribute | Details |
|---|---|
| Market size value in 2019 | USD 2.9 Billion |
| Market size forecast in 2026 | USD 11.4 Billion |
| Base Year | 2019 |
| Historical Period | 2016 to 2018 |
| Forecast Period | 2020 to 2026 |
| Revenue Growth Rate | CAGR of 26.6% from 2020 to 2026 |
| Number of Pages | 296 |
| Number of Tables | 530 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Component, Application, Organization Size, End User, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Free Valuable Insights: Global Cognitive Assessment & Training Market to reach a market size of $11.4 Billion by 2026
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America holds the major share in cognitive assessment and training market, due to its large base of the older generation population and dementia patients. Increasing incidents of neurological disorders and increasing adoption of these techniques in schools and colleges because of the smartphone and tablet proliferation can also stimulate the demand in Asia Pacific, Africa, and the Middle East region. Europe is also estimated to witness a stable demand because of the growth in the education industry.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Quest Diagnostics, Incorporated, Koninklijke Philips N.V.Cambridge Cognition Holdings PLC, Cogstate Ltd., WCG IRB (Medavante, Inc.), Cognifit, Inc., eResearch Technology, Inc., Lumos Labs, Inc. (Lumosity), Signant Health and Brain Resource Ltd.
By Component
By Application
By Organization Size
By End User
By Geography
Companies Profiled
The global cognitive assessment & training market size is expected to reach $11.4 billion by 2026.
There are several reason that cause high demand of this market one of them is the increasing need for technological advancements in the healthcare sector during COVID-19.
The largest market size holder of the global cognitive assessment and training market in North America while Asia Pacific is estimated to grow at a higher CAGR during the forecast period.
Quest Diagnostics, Incorporated, Koninklijke Philips N.V.Cambridge Cognition Holdings PLC, Cogstate Ltd., WCG IRB (Medavante, Inc.), Cognifit, Inc., eResearch Technology, Inc., Lumos Labs, Inc. (Lumosity), Signant Health and Brain Resource Ltd.
The expected CAGR of cognitive assessment & training market is 26.6% from 2020 to 2026.
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