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The cognitive assessment and training market size is estimated to grow at a CAGR of 30.18% between 2022 and 2027 and the size of the market is forecast to increase by USD 13,732.94 million. The report includes historic market data from 2017 to 2021. It also extensively covers market segmentation by Type (large enterprise and SMEs), End-user (healthcare, education, and others), and Geography (North America, Europe, APAC, Middle East and Africa, and South America). This report also includes an in-depth analysis of drivers, trends, and challenges.
The growth of the market depends on several factors, including cost-effective online cognitive assessments, increasing focus on brain health, and emphasis on high-quality education. Brain health is a vital determinant of an individual's medical condition, as a healthy brain can perform all cognitive processes like learning, judging, and remembering. Awareness of brain health tests has increased due to the rise of memory-oriented diseases. Alzheimer's disease is the sixth-leading cause of death in the US, and researchers have developed an AI-based algorithm, SuStaIn, to identify different types of dementia. Gamification is also used to diagnose the stages of dementia. Technological advancements, such as AI and IoT, will improve diagnosis efficiency, and the growing focus on brain health is expected to drive market growth for cognitive assessment and training.
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Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Total Brain: The company was founded by leading neuroscientist, Dr. Evian Gordon, MD, Ph.D. It provides a neuroscience-based mental health and brain performance solution that begins with powerful self-monitoring and self-care apps for individuals, driving robust team analytics for enterprises and continuous monitoring for providers.
The cognitive assessment and training market report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
North America is expected to contribute significantly, accounting for 31% of the global cognitive assessment and training market's growth during the forecast period. The region benefits from a robust infrastructure for implementing cognitive assessment and training, particularly in developed countries. Key players like Bracket, CogniFit, ImPACT Applications, and others operating in the United States are driving market growth by providing reliable cognitive assessment solutions.
The COVID-19 outbreak in 2020 had a profound impact worldwide, leading to widespread lockdowns and a shift towards online learning and remote work. This change in lifestyle negatively affected people but also increased the acceptance and adoption of cognitive assessment and training. Government support and increased awareness of mental health during the pandemic have further propelled the market's penetration.
Economic development and technological advancements in different countries within the region create favorable conditions for market growth. These factors are expected to drive the cognitive assessment and training market's expansion during the forecast period.v
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The market share growth by the large enterprise segment will be significant during the forecast period. A large company is typically one with more than 500 employees and significant revenue. Large organizations are those that have significant needs for cognitive assessment and training solutions to improve employee cognitive skills and optimize performance. The large enterprise segment of the cognitive assessment and training market is characterized by its size and complexity. These companies often have multiple departments and teams that require tailored training programs to meet their unique cognitive needs. In addition, large companies can operate in different industries such as healthcare, finance, and technology that require different types of cognitive training solutions.
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The large enterprise segment was valued at USD 1,017.29 million in 2017 and continued to grow until 2021. Cognitive assessment and training solutions offered to large companies include a variety of techniques such as cognitive-behavioral therapy, neurofeedback, and brain-training games. These solutions are specifically aimed at improving cognitive skills such as attention, memory, and problem-solving. The demand for cognitive assessment and training solutions in the enterprise segment is driven by several factors. One of the main drivers is the need to optimize employee performance and productivity. Large companies are constantly looking for ways to improve the cognitive skills of their employees in order to achieve better performance. Another factor is the growing awareness of the importance of cognitive health and its impact on overall well-being. Such factors are anticipated to drive the growth of the market during the forecast period. v
Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Gamification for cognitive assessment is a key trend influencing the market growth. Gamification is increasingly being used to make cognitive assessments interesting and engaging. Cognitive tasks can often be viewed as taxing, frustrating, and repetitive, leading to participant withdrawal. Integrating games into cognitive tasks increases learner engagement without compromising the scientific value and data quality of cognitive assessment and training solutions. Gamification in cognitive assessment and training enables brain stimulation and improves long-term learner engagement. Gamification impacts game design elements into cognitive tasks without compromising their scientific value, improving data quality, enhancing training effectiveness, and maximizing participant engagement. Therefore, some market vendors are integrating engaging games with their cognitive assessment and training solutions, leading to rapid market growth.
For example, criteria proposes to revolutionize candidate evaluation through gameplay. The company offers a game-based assessment known as Cogniify, the next-generation cognitive skills assessment for recruitment. The assessment consists of seven short, engaging games that measure cognitive ability and key attributes such as mental agility, cognitive speed, spatial validity, and numerical competence. The incorporation of gamification into cognitive assessment is expected to drive the growth of the market during the forecast period.
Credibility concerns related to solutions and courses are challenging the cognitive assessment and training market growth. The number of providers of cognitive assessment and training solutions is growing and is expected to grow even more in the coming years. As the number of providers grows, so do the issues related to the reliability of the courses and testing programs they offer and their ability to improve student achievement. The quality of programs offered by institutions and providers of cognitive assessment and training solutions is one of the primary concerns of users.
In addition, many institutions have a low brand presence and are unable to attract users. Cognitive training institutions and service providers are struggling to obtain the required accreditations, accreditations, and rankings according to industry benchmarks and are unable to attract students and their parents despite strong faculty and resources. Such factors are expected to challenge the growth of the market during the forecast period.
The cognitive assessment and training market analysis report includes the adoption lifecycle of the market, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on market penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Cognitive Assessment and Training Market Customer Landscape
The 2020 COVID-19 outbreak spread widely across the world. Due to the rising death toll from COVID-19, especially in the first half of 2020, lockdowns were imposed across the world. As a result, the acceptance of online learning and work-from-home models increased, negatively impacting people's lifestyles. Government support increased awareness of mental health during the pandemic and ensured deeper penetration of the cognitive assessment and training market. In different countries, factors such as economic development and increasing technological advancement create opportunities for growth. Such factors are anticipated to drive the growth of the market during the forecast period.
The cognitive assessment and training market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Cognitive Assessment And Training Market Scope |
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Report Coverage |
Details |
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Page number |
160 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 30.18% |
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Market growth 2023-2027 |
USD 13732.94 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
29.84 |
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Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
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Performing market contribution |
North America at 31% |
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Key countries |
US, China, Japan, UK, and Germany |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Brain Resource Inc., Cambridge Cognition Holdings Plc, CNS Vital Signs LLC, CogniFit Inc., Cogstate Inc., Koninklijke Philips NV, LearningRx Inc., Lumos Labs, Manipal Education and Medical Group, neurocare group AG, Oxford Learning Centers Inc., Pearson Plc, Posit Science Corp., Quest Diagnostics Inc., Riverside Assessments LLC, Sherwood Childrens Assessment Center, Signant Health, The GL Education Group Ltd., WCG Clinical Inc., and Tulsa Center for Psychological Assessments |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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