Cognitive Assessment and Training Market: Market Segments: By Component (Solution and Services); By Organization Size (Large Enterprises, and Small and Medium-sized Enterprises (SMEs)); By Application (Clinical Trials, Learning, and Research); By Vertical (BFSI, Retail, IT & Telecom, Education, Healthcare, and Others); and Region – Analysis of Market Size, Share & Trends for 2014 – 2019 and Forecasts to 2030
Cognitive assessment and training are a method of measuring, along with other criteria, the IQ or level of intelligence, perceptual ability, and verbal and non-verbal abilities. It is a method of formal evaluation of the psychological functions and speed of information processing of an individual. In addition, through experience and meaning, it is the mental process of gaining knowledge and understanding. Cognitive evaluation is useful for various functions, such as early population dementia detection, individual cognitive training, sports management, and others.
Cognitive Assessment and Training Market is expected to project a notable CAGR of 29.7% in 2030.
Cognitive Assessment and Training Market to surpass USD 12.3 billion by 2030 from USD 3.1 billion in 2018 at a CAGR of 29.7% throughout the forecast period, i.e., 2019-30. Another major factor responsible for the high growth of the cognitive evaluation & training market is increased awareness of brain fitness. One of the key factors creating a positive outlook for the market is significant growth in the electronics industry across the globe.
Cognitive Assessment and Training Market: Segments
Solution segment to grow with the highest CAGR of XX.X% during 2019-30
Cognitive Assessment and Training Market is segmented by component as solution and services. The solution segment is further sub segmented into assessment, data management, project management, data analysis & reporting, and others. The service segment is further bifurcated into advisory and training activities. The solution accounted for the higher market share in 2018 and the dominance of the segment is due to the increasing demand for mobile-based cognitive solutions and web-based cognitive evaluation applications. Moreover, the global penetration of the Internet is driving the growth of the demand for cognitive testing and training.
Cognitive Assessment and Training Market: Market Dynamics
Adoption of BYOD in Clinical Trials
In the global cognitive Assessment and training market, the emergence of digital technologies in the healthcare industry is a major factor boosting the healthcare sub-segment. Moreover, the increasing demand from doctors and hospitals to access patient databases on mobile devices or institution-owned mobile devices is promoting the increasing adoption of mobile applications and IT systems among healthcare organizations and other entities, which is also driving the market for cognitive assessment and training.
Stringent government regulations and negative publicity about brain training efficiency
Companies are attempting to enhance brain fitness by increasing the number of solutions and applications built to improve neuroplasticity. However, businesses need to receive clinical approvals for releasing their products to be used on individuals after designing brain training solutions. As it takes a year to create a clinically validated brain fitness solution, the faster growth of the demand for cognitive evaluation and training is limited.
Cognitive Assessment and Training Market: Regions
Cognitive Assessment and Training Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC and MENA.
Cognitive Assessment and Training Market in North America held the largest market share of XX.X% in the year 2018 and it is expected to continue its market dominance in the future owing to large base of the aging population and dementia patients while sAsia Pacific (APAC) is projected to rise at the highest CAGR. In key countries such as China, India and Japan, the increasing understanding of mental wellbeing and cognitive skills is expected to fuel the adoption of cognitive evaluation and training solutions and services. In these countries, technological developments and digitization are also expected to increase the demand for cognitive assessment and training solutions from key verticals, such as healthcare and life sciences, education, and industry. Due to growth in the education market, Europe is expected to witness steady demand.
Cognitive Assessment and Training Market: Key Players
- Cambridge Cognition Ltd
- ·Company Overview
- ·Business Strategy
- ·Key Product Offerings
- ·Financial Performance
- ·Key Performance Indicators
- ·Risk Analysis
- ·Recent Development
- ·Regional Presence
- ·SWOT Analysis
- Cogstate Ltd.
- MedAvante, Inc.
- ProPhase, LLC
- Neurocog Trials, Inc.
- Medavante, Inc.
- Quest Diagnostics, Inc.
- ProPhase, LLC
- Eresearchtechnology Inc.
- Gompf Brackets, Inc
Cognitive Assessment and Training Market report also contains analysis on:
Cognitive Assessment and Training Market Segments:
- ·Data Management
- ·Data Analysis and Reporting
- ·Cognitive Training
- ·Training and Support
By Organization Size:
- Large Enterprises
- Small and Medium-sized Enterprises (SMEs)
- Clinical Trials
- IT and Telecom
- Cognitive Assessment and Training Market Dynamics
- Cognitive Assessment and Training Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved in the Market
- Value Chain of the Market
- Market Drivers and Restraints