Yahoo Finance Cognitive Assessment & Training Market is Expected to Grow with Approximately 26.80% of CAGR by 2026 - Report by Market Research Future (MRFR)
New York, US, Oct. 28, 2021 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Cognitive Assessment & Training Market information by Component, by Assessment Type, by Application and Vertical – forecast to 2027” market size to grow at a compound annual growth rate of 26.80% by 2026.
Market Scope:
Cognitive assessment is imperative in schools and organizations to ascertain the psychological condition of individuals. Tests for the assessment have been digitized in order to leverage the use of smart devices and personal computers. Market Research Future’s (MRFR) report on the cognitive assessment & training market covers a comprehensive analysis on various techniques for detection of neurological disorders. It covers prospects on the industry for the forecast period (2020-2027) while taking into consideration the effects of the COVID-19 pandemic.
Dominant Key Players on Cognitive Assessment & Training Market Covered are:
Quest Diagnostics Inc. (U.S.)
Cogstate Ltd. (U.S.)
Cognifit (U.S.)
Eresearchtechnology Inc. (U.S.)
Pearson Education (U.K)
Neurocog Trials Inc. (U.S.)
ProPhase LLC (U.S.)
Bracket Global (U.S.)
Medavante Inc. (U.S.)
Cambridge Cognition Ltd. (U.K)
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Market USP Exclusively Encompassed:
Market Drivers
Gamification to Drive Market Demand
HVAC contractors and real estate developers are collaborating to provide modern and luxurious homes with all amenities. Automation of cooling and heating systems to provide convenience and comfort to home owners can drive the market demand for cognitive assessment & training systems. Bundled products that work in a common connected platform are the latest selling point pursued by developers to drive sales of automation systems. For instance, Samsung Corporation has developed the SmartThings application to control a bevy of products on the platform. It can be used in creating ambience for single family and multi-family environments.
Technological Breakthroughs in Healthcare Trials to Drive Market Growth
Smart homes can utilize cognitive assessment & training solutions for controlling heating, electrical, cooling, and light appliances. They can increase comfort and usability while managing the ambience of rooms through a centralized remote. Moreover, it can enhance the security of homes by enabling floodlights and security illuminations at breach points. The COVID-19 pandemic has propelled the demand for smart lights by providing a safe space for work in homes and workstations.
Development of Clinically Approved Brain Training Solutions to Impair Market Growth
The huge initial costs of installation owing to added costs of installation and equipment can hamper the cognitive assessment & training market growth. Use of expensive software, light sources, and control systems can deter potential clients. However, dipping prices of LEDs and energy savings of these lights can prove to be fruitful to the market in the coming years.
Browse In-depth Market Research Report (100 Pages) on Cognitive Assessment & Training Market:
https://www.marketresearchfuture.com/reports/cognitive-assessment-training-market-4677
Segmentation of Market Covered in the Research:
Assessment Solution to Gain Market Share
By solutions, the market is segmented into data analysis and reporting, data management, project management, and assessment.
Consulting Services to Garner Huge Revenues
By services, the cognitive assessment and training market is segmented into consulting and training and support.
Hosted Assessment to Gain Traction
By assessment type, the market is segmented into hosted assessment, biometric assessment, and pen and paper-based assessment.
Clinical Trials to be Biggest Application
Major applications of the cognitive assessment & training market are clinical trials, research, brain training, corporate learning, and classroom learning.
Healthcare Vertical to Lead in Global Market
By vertical, the market caters to pharmaceuticals, defense, education, sports, healthcare, and corporates. Healthcare professionals will conduct tests to assess the cognitive state of patients and partner with vendors to offer home-based or field-based tests.
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Regional Analysis
APAC to Lead in Market Share
APAC is estimated to display a strong growth rate owing to demand for cognitive assessment training solutions and services. Awareness of mental health and well-being due to deadline-driven environments and peer pressure can drive its demand. Large aging populace and their vulnerability to cognitive disorders can propel market growth. Investments in R&D solutions of mental diseases can have a profound effect on the industry.
COVID-19 Impact on the Global Cognitive Assessment & Training Market
The COVID-19 pandemic will negatively affect the cognitive assessment & training market. But work from home and remote work will affect mental faculties of employees and drive market demand. Tracking of cognitive disabilities will be imperative as COVID-19 affects the nervous system. Increasing focus on mental health and value of cognitive assessment and training solutions can bode well for the market.
Industry News
Fire Audiology has added Cognivue Thrive, a cognitive assessment device, to its product offering. The latest product can provide screenings for patients to check their auditory and visual senses.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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