Cognitive Assessment And Training Market Outlook 2031:
The global cognitive assessment and training market size was valued at USD 5.35 Billion in 2022 and is projected to reach USD 54.04 Billion by 2031, expanding at a CAGR of 29.3% during the forecast period 2023 - 2031. The growth of the market is attributed to the improved economic conditions along with rising literacy rates.
A standardized examination that evaluates a person’s psychological functioning and speed of information processing is called cognitive assessment and training. These assessments aid in effective identification and acting on human needs.
Among several verticals, the training is widely adopted by educational institutions that can help in the customized assessment for students to meet their academic goals due to increased competitiveness in the education sector.
Psychologists prescribe development sessions for children in the concerned areas based on the results of the assessments. Moreover, these solutions are extensively adopted in the healthcare industry besides the education sector, to track, measure, prepare, or improve an individual's cognitive functions.
Dementia is one of the most common neurological diseases worldwide and these cognitive training solutions are highly preferred to treat such disorders. Certain project-oriented organizations often deploy such assessments before assigning a project to a manager, which may result in an increase in demand for the training service during the forecast period.
Cognitive Assessment And Training Market Trends, Drivers, Restraints, and Opportunities
- Growing application such as gamification in the cognitive testing is a key factor driving the market. Various industries such as corporate and education organizations have reaped the benefits of gamification.
- Rising awareness of brain fitness solution and continuous advancements in technology for the healthcare industry are projected to boost the market.
- Increasing healthcare spending and the rising number of ageing population globally are expected to fuel market growth during the forecasted period.
- Requirement of businesses to obtain professional certification before releasing their devices for clinical use is expected to impede the market growth.
- Cognitive testing and training solutions & services have been largely affected by the emergency lockdown due to the COVID-19 outbreak. This is a key restraining factor for the market.
Scope of the Cognitive Assessment And Training Market Report
The report on the global cognitive assessment and training market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Cognitive Assessment and Training Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Components (Solutions [Assessment, Data Management, Data Analysis & Reporting, Cognitive Training, and Others] and Services [Training & Support and Consulting]), Applications (Dementia Screening, Brain Training, Clinical Trials, Employer Evaluation, Classroom Learning, Concussion Management, and Academic Research), and Verticals (Education, Healthcare, Pharmaceutical, Sports, and Defense)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Pearson Assessments; ImPACT; Cogstate; GL Assessment; Cambridge Cognition; LearningRX; Lumosity; Listen and Learn Centre; Posit Science (BrainHQ); Oxford Learning; Sherwood Children's Assessment Centre; CNS Vital Signs; and Tulsa Center for Child Psychology
Global Cognitive Assessment and Training Market Segment Insights
Services segment is anticipated to dominate the market
Based on components, the global cognitive assessment and training market is bifurcated into solution and services. The solutions segment is further divided into assessment, data management, data analysis and reporting, cognitive training, and others.
The services segment is further bifurcated into training & support and consulting. The services segment is anticipated to dominate the market during the forecasted period. The growth of this segment is attributed to an increase in end-user demand for training and support services to improve individual's cognitive capacity and help the person to assist for potential advancement and growth.
Clinical trials segment is expected to expand at a high CAGR
On the basis of applications, the market is segmented into dementia screening, brain training, clinical trials, employer evaluation, classroom learning, concussion management, and academic research.
The clinical trial segment is expected to expand at a high CAGR during the forecast period. The ability to evaluate and identify cognitive changes as well as the ability to track, diagnose, and reduce the risk of disease development in patients are some key factors pushing the segment growth.
Healthcare segment is expected to hold a large market share
Based on verticals, the global cognitive assessment and training market is segmented into vertical education, healthcare, pharmaceutical, sports, and defense. The healthcare segment is expected to hold a large market share during the forecast period.
Cognitive assessment is widely used in the diagnosis and treatment of dementia by healthcare organizations to analyze patients with psychiatric or cognitive disorders. Cognitive impairment can be caused in early childhood or late adulthood.
Cognitive disabilities may also be caused by the rising age of patients and their health conditions such as diabetes, stroke, drug misuse, and alcohol use.
North America is dominating the market
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is currently dominating the market and is anticipated to constitute a major share market in the coming years due to the increasing aging population and rising cases of dementia patients in the region.
On the other hand, the market in Asia Pacific is expected to grow at a fast CAGR during the forecast period. The adoption of cognitive assessment and training solutions and services due to rising awareness of mental health and importance of cognitive skills in several organizations are key driving factors for the regional market growth.
The global cognitive assessment and training market has been segmented on the basis of
- Data Management
- Data Analysis & Reporting
- Cognitive Training
- Others (Rater Training, Concussion Management, and Screening Solutions)
- Training & Support
- Dementia Screening
- Brain Training
- Clinical Trials
- Employer Evaluation
- Classroom Learning
- Concussion Management
- Academic Research
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- Pearson Assessments
- GL Assessment
- Cambridge Cognition
- Listen and Learn Centre
- Posit Science (BrainHQ)
- Oxford Learning
- Sherwood Children's Assessment Centre
- CNS Vital Signs
- Tulsa Center for Child Psychology
Some of the major players competing in the global cognitive assessment and training market are Pearson Assessments; ImPACT; Cogstate; GL Assessment; Cambridge Cognition; LearningRX; Lumosity; Listen and Learn Centre; Posit Science (BrainHQ); Oxford Learning; Sherwood Children's Assessment Centre; CNS Vital Signs; and Tulsa Center for Child Psychology.
By providing innovative solutions, these major players are able to create leverage and opportunities for the market expansion across several regions. End-users of cognitive assessment and training solutions are expected to remain primarily between educational and medical professionals.