Cognitive Assessment and Training Market Size, Share & Forecast 2027
Cognitive Assessment and Training Market
The Cognitive Assessment and Training Market was estimated around USD 2246 million in 2019 and is expected to grow at a CAGR of 29.8% over the forecast period (2020-2027).
The factors driving the growth of Cognitive Assessment and Training Market includes rise in the number of E-Learning platforms around the world, growing trend of gamifying cognitive assessments, increase in the geriatric population and extensive use of cognitive assessment and training module by major corporations to identify right talent and provide comprehensive learning to their employees. According to the report published by Bloomberg, the Global E-Learning Market is expected to reach USD 15,000 Million by the end of 2028, expanding at a CAGR of 6.5% over the forecast period (2021-2028), which will accelerate the Cognitive Assessment and Training Market size, in the approaching years. Moreover, the technological advancements in the healthcare industry, rise in the smartphone penetration rates and increase in clinical trials using electronic media to gather patient-reported outcomes (PROs), are some of the additional factors supplementing the market growth. In addition, the increasing investments by leading players on research and development, advancements in IT systems, rising disposable incomes, rapid urbanization, and growing population growth rates, are further contributing to the market growth.
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However, the growth of Cognitive Assessment and Training Market is hindered due to inadequate knowledge about cognitive assessment tests.
The major players operating in the Cognitive Assessment and Training Market are Quest Diagnostics Incorporated, Signant Health, BrainWare Learning Company, BrainCheck, Inc., MeritTrac Services Pvt. Ltd., Total Brain, Pearson, MedAvante-ProPhase, Inc., Cambridge Cognition Ltd. and Cogstate Ltd., among others.
Based on Assessment Type, the Pen & Paper Based Assessment segment is predicted to expand at a significant CAGR during the forecast period
Pen and paper base assessments are helpful in collecting samples of student’s work, diagnose areas of misunderstanding and are easier to understand, are some of the factors responsible for the segment’s growth.
Based on Vertical, the Healthcare segment is projected to grow at a remarkable CAGR over the forecast period
As per the Cognitive Assessment and Training Market Industry Analysis, cognitive assessment and training solutions are increasingly used in the healthcare institutions to analyze people with cognitive disabilities along with advancements in medical treatment, are propelling the growth of the segment.
Based on Region, the North American region is anticipated to expand at a robust CAGR during the forecast period
Rise in Government’s spending on healthcare sector, increasing number of e-learning platforms, growing consciousness amongst people about mental health and cognitive skills and high per capita incomes are some of the important factors augmenting the market growth in North America.
Key Development
In 2020, Total Brain collaborated with the Center for Adolescent Research and Education (CARE). The collaboration is aimed at promoting positive youth development by offering CARE collaborative teen beneficiaries access to Total Brain’s neuroscience-based mental health and wellness assessment and screening tools.
Market Segmentation
Segmentation by Component
Solution
Assessment
Data Management
Data Analysis and Reporting
Cognitive Training
Services
Consulting
Training & Support
Segmentation by Assessment Type
Hosted Assessment
Biometric Assessment
Pen & Paper Based Assessment
Segmentation by Vertical
Corporate
Healthcare
Education
Sports
Defence
Pharmaceuticals
Others
Segmentation by Region
Asia PacificChina
Japan
India
Rest of APAC
North AmericaUnited States of America
Canada
EuropeUnited Kingdom
Germany
France
Spain
Rest of Europe
RoWBrazil
South Africa
Saudi Arabia
UAE
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