Global cognitive assessment and training market will grow by USD 13.56 billion during 2020-2024.
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Technavio has announced its latest market research report titled Global Cognitive Assessment and Training Market 2020-2024 (Graphic: Business Wire)
Amid the COVID-19 pandemic, the global cognitive assessment and training market registered a YOY growth of 32.48% in 2020 and the market is estimated to expand at a CAGR of over 28% during the forecast period. The report offers a detailed analysis of the impact of the COVID-19 pandemic on the market in optimistic, probable, and pessimistic forecast scenarios. - Get Free Sample Report Delivered Instantly to Know More
Cognitive Assessment and Training Market: Cost-effectiveness of online cognitive assessments to drive growth
Cognitive tests involving manual pen and paper are laborious and require significant monetary investments. Hence, many companies are increasingly adopting online cognitive assessments as they are affordable and provide superior outcomes compared to the manual process. The computerized cognitive assessments also offer automated scoring and reduce human errors. With the advances in technology, increasing adoption of digital solutions, and the growing popularity of mobile learning, the demand for online cognitive assessment solutions will increase over the forecast period.
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As per Technavio, the improved economic conditions and high literacy rates will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Cognitive Assessment and Training Market: Improved Economic Conditions and High Literacy Rates
Improving economic conditions and high literacy rates among parents have increased the emphasis on quality education among parents worldwide. This has increased the investments in personality development measures by parents such as cognitive assessments for the overall development of their children. This is encouraging vendors in the market to offer cognitive training and tests to help parents in learning about their children’s cognitive abilities and allow them to take corrective actions. This trend is expected to have a positive impact on the growth of the global cognitive assessment and training market over the forecast period.
"Rising adoption of gamification for cognitive assessments and the increasing number of start-ups will further boost market growth during the forecast period", says a senior analyst at Technavio.
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Cognitive Assessment and Training Market: Major Vendors
The report covers details on the market’s competitive landscape and offers information on the products offered by various companies, including:
Brain Resource Ltd.
Cambridge Cognition Holdings Plc
ImPACT Applications Inc.
Cognitive Assessment and Training Market: Segmentation Analysis
This market research report segments the cognitive assessment and training market by end-user (healthcare, education, and other) and geography (APAC, Europe, MEA, North America, and South America).
The North America region led the cognitive assessment and training market in 2020, followed by Europe, APAC, MEA, and South America respectively. During the forecast period, North America is expected to register the highest incremental growth due to factors such as the presence of a robust infrastructure, rising awareness about cognitive assessment and training, the high concentration of key vendors in the region.
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Some of the key topics covered in the report include:
Market Share by Competitors
Market positioning of vendors
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