North America Cognitive Assessment and Training Market, By Offering (Solutions, Services), Mode of Assessment (Online, Offline), Type of Assessment (Hosted Assessment, Biometrics Assessment, Personal Interview, Pen and Paper Based Assessment), Age (Seniors (Above 60 Years), Adults (25-60 Years), Children (Below 14 Years), Youth (15-24 Years)), Application (Health & Clinical Assessment, Brain Training, Memory Assessment, Research, Classroom Learning, Corporate Learning, Others), Industry (Healthcare, Education, Government, Corporate, Defense, Sports, Others), Country (U.S., Canada and Mexico) Industry Trends and Forecast to 2028
Market Analysis and Insights: North America Cognitive Assessment and Training Market
North America cognitive assessment and training market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with the CAGR of 23.1% in the forecast period of 2021 to 2028 and expected to reach USD 6,562.30 million by 2028. Increasing spending on research by healthcare sector is one of the prominent factors that are driving the growth of the market.
Cognitive assessment and training refers to a series of questions and tests which are designed to measure the cognitive abilities of a person. They involve various types of questions, puzzle games and other interactive activities. Since mental fitness has become extremely important due to the rising cases of cognitive diseases, thus people are taking up assessments and playing brain training games on various web and mobile platforms to keep track of their brain health.
Numerous benefits of integrating gamification in cognitive training assessments which boosts the formation of new memories and simulates positive brain changes is the major factor which is driving the growth of the cognitive assessment and training market. The delayed approvals of cognitive training games by regulatory authorities are a major factor which is restraining the growth of the cognitive assessment and training market.
The rising awareness of benefits associated with implementing cognitive training sessions, games and assessments in schools and other colleges is a major factor which will create an opportunity for the growth of the cognitive assessment and training market. The prevalent use of traditional cognitive assessments due to their numerous benefits is a factor which is posing a challenge for the growth of the cognitive assessment and training market.
This cognitive assessment and training market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographical expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Cognitive Assessment and Training Market Scope and Market Size
The cognitive assessment and training market is segmented into six notable segments which are based on offering, mode of assessment, type of assessment, application, industry and age. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of offering, the cognitive assessment and training market is segmented into solutions and services. In 2021, offering segment is dominated by solutions segment and is expected to grow at higher rate due to high initial investment.
- On the basis of mode of assessment, the cognitive assessment and training market is segmented into online and offline. In 2021, online segment dominates the mode of assessment segment and is expected to grow at higher rate owing to digital transformation of offline technologies.
- On the basis of type of assessment, the cognitive assessment and training market is segmented into below hosted assessment, biometrics assessment, personal interview and pen and paper based assessment. In 2021, type of assessment segment is majorly dominated by hosted assessment segment as it has wide reach and uniform techniques for cognitive assessment and training.
- On the basis of age, the cognitive assessment and training market is segmented into seniors (above 60 years), adults (25-60 years), children (below 14 years) and youth (15-24 years). In 2021, age segment is majorly shared by seniors (above 60 years) segment as cognitive trainings are the mostly used in medical trials where most of the candidates are senior citizen.
- On the basis of application, the cognitive assessment and training market is segmented into a health & clinical assessment, brain training, memory assessment, research, classroom learning, corporate learning and others. In 2021, application segment is dominated by health & clinical assessment segment as cognitive assessment is majorly used in clinical trials in order to maintain the functionality of elderly brain.
- On the basis of industry, the cognitive assessment and training market is segmented into a healthcare, education, government, corporate, defense, sports and others. In 2021, healthcare segment dominates the industry segment and is expected to grow at the highest rate as this sector is rapidly adopting such technologies, also this segment coherently grows with application segment.
Cognitive Assessment and Training Market Country Level Analysis
Cognitive assessment and training market is analysed and market size information is provided by country, offering, mode of assessment, type of assessment, application, industry and age as referenced above.
The countries covered in cognitive assessment and training market report are U.S., Canada and Mexico in North America, Germany, U.K., France, Switzerland, Italy, Spain, Netherlands, Russia, Belgium, Turkey, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific in the Asia-Pacific, South Africa, UAE, Saudi Arabia, Israel, Egypt and Rest of Middle East & Africa as a part of Middle East and Africa, Brazil, Argentina, and Rest of South America as part of South America.
The U.S is expected to dominate the cognitive assessment and training market due to the presence of many key players in this country. Not only that, they are also providing cognitive assessments for their defence forces mainly to the veterans as well the active duty soldiers to increase their resiliency. Canada is expected to dominate the market after the U.S. as the government has set up committee for promoting the importance of cognitive assessment. Additionally, school kids are increasingly adopting online brain training games to nurture their cognitive abilities.
The country section of the cognitive assessment and training market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of North America brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Increasing use of Smartphones and Tablets
Cognitive assessment and training market also provides you with detailed market analysis for every country growth in industry with sales, components sales, impact of technological development in cognitive assessment and training and changes in regulatory scenarios with their support for the cognitive assessment and training market. The data is available for historic period 2011 to 2019.
Competitive Landscape and Cognitive Assessment and Training Market Share Analysis
Cognitive assessment and training market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, North America presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to North America cognitive assessment and training market.
The major players covered in the cognitive assessment and training market report are Lumos Labs, Inc., Posit Science, Total Brain, Elevate Labs, Memorado, Predictive Success Corporation, BrainWare Learning Company, CNS Vital Signs, LLC, pymetrics, Inc., Arrowsmith Program, ACE Applied Cognitive Engineering Ltd, Akili Interactive Labs, Inc., Savonix, Inc., LearningRx, Inc., ImPACT Applications Inc., Signant Health, VeraSci, Cogstate Ltd., Quest Diagnostics Incorporated, Medavante-Prophase Inc. and Pearson among others among others. Many product developments are also initiated by the companies worldwide which are also accelerating the growth of Cognitive assessment and training market.
For instance,
- In January 2020, ImPACT Applications Inc. has been acquired by the Riverside Insights which is among the top research backed concussion assessment for the concussion assessments. The company is going to continue and operate under its current brand name and its products and services along with offering of thousands of healthcare providers, schools and organizations that it currently serves today. The company is going to extend its portfolio through the acquisition that is going to generate more income for the company.
- In June 2020, ACE Applied Cognitive Engineering Ltd. has developed a software based brain training platform that help players to achieve peak performance for training their brains to quickly respond on the certain events for the performance in the players through the brain mapping. The company is going to enhance the revenue for the company through the launch of this service.
Production expansion, new product development and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for cognitive assessment and training.
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