Dublin, March 29, 2023 (GLOBE NEWSWIRE) -- The "Cognitive Assessment And Training Global Market Opportunities And Strategies To 2031" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists; marketers and senior management with the critical information they need to assess the global cognitive assessment and training market as it emerges from the COVID-19 shut down.
The global cognitive assessment and training market reached a value of nearly $3,353.42 million in 2021, having increased at a compound annual growth rate (CAGR) of 15.52% since 2016. The market is expected to grow from $3,353.42 million in 2021 to $9,797.92 million in 2026 at a rate of 23.9%. The market is then expected to grow at a CAGR of 20.65% from 2026 and reach $25,050.03 million in 2031.
Companies Mentioned
- Pearson PLC
- Quest Diagnostics
- Koninklijke Philips N.V
- Cogstate Ltd.
- CogniFit Ltd.
Reasons to Purchase
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Growth in the historic period resulted from rapid growth in aging population, an increase in investments, increased healthcare expenditure and digitization. Factors that negatively affected growth in the historic period were reduction in free trade and time-constraints in developing clinically validated brain training solutions.
Going forward, a rise in healthcare expenditure, an increase in demand for brain training from next generation population and increasing investments will drive market growth. Factors that could hinder the growth of the cognitive assessment and training market in the future include effect of COVID-19 on companies and a high dependency on traditional assessment methods.
The cognitive assessment and training market is segmented by component into solutions and services. The solution market was the largest segment of the cognitive assessment and training market by component, accounting for 67.11% of the total market in 2021. The services market is expected to be the fastest-growing segment in cognitive assessment and training market component, going forward at a CAGR of 25.54% during 2021-2026 period.
The cognitive assessment and training market is segmented by application into clinical trials, learning, research, others. The clinical trials market was the largest segment of the cognitive assessment and training market by application accounting for 32.8% of the total market in 2021. The clinical trials market is expected to be the fastest-growing segment in cognitive assessment and training market by application, going forward at a CAGR of 24.8% during 2021-2026 period.
The cognitive assessment and training market is segmented by organization size into small and medium-sized enterprises (SMEs), large enterprises. The large enterprises market was the largest segment of the cognitive assessment and training market by organization size, accounting for 72.9% of the total market in 2021. The small and medium-sized enterprises (SMEs) segment is expected to be the fastest-growing segment in cognitive assessment and training market segmented by organization size, going forward at a CAGR of 25.1% during 2021-2026 period.
The cognitive assessment and training market is segmented by vertical into healthcare and life sciences, education, corporate, others. The healthcare and life sciences market was the largest segment of the cognitive assessment and training market by vertical, accounting for 60.3% of the total market in 2021. The healthcare and life sciences segment is expected to be the fastest-growing segment in cognitive assessment and training market segmented by vertical, going forward at a CAGR of 24.3% during 2021-2026 period.
North America was the largest region in the cognitive assessment and training market, accounting for 39.2% the global market in 2021. It was followed by Asia-Pacific, Western Europe and the other regions. Going forward, the fastest growing regions in the cognitive assessment and training market will be Asia-Pacific and the Middle East, where growth will be at CAGRs of 27.5% and 25.52% respectively from 2021-2026.
The global cognitive assessment and training market is moderately fragmented, with a large number of regional players operating in the market. The top ten competitors in the market made up to 22.5% of the total market in 2021. Major players in the market include Pearson PLC, Quest Diagnostics, Koninklijke Philips N.V, Cogstate Ltd, CogniFit Ltd, Cambridge Cognition Ltd, MeritTrac Services Pvt Ltd, WIRB-Copernicus Group, Signant Health, and BrainCheck.
The top opportunities in the cognitive assessment and training market segmented by component will arise in the solution segment, which will gain $4,107.8 million of global annual sales by 2026. The top opportunities in the cognitive assessment and training market segmented by organization size will arise in the large enterprises segment, which will gain $4,567.4 million of global annual sales by 2026.
The top opportunities in the cognitive assessment and training market segmented by vertical segment will arise in the healthcare and life sciences segment, which will gain $3,973.0 million of global annual sales by 2026. The top opportunities in the cognitive assessment and training market segmented by application will arise in the clinical trials segment, which will gain $2,229.7 million of global annual sales by 2026. The cognitive assessment and training market size will gain the most in the USA at $2,414.2 million.
Market-trend-based strategies for the cognitive assessment and training market include focusing on new artificial intelligence, focusing on developing mobile apps, focusing on merger and acquisitions and focusing on neuropsychological testing and assessment techniques.
Player-adopted strategies in the cognitive assessment and training market include incorporating the use of artificial intelligence (AI) for learning through the launch of new products, providing meaningful insights to care providers regarding the health of patients through innovative product launches, enhancing business operations through strategic collaborations and partnerships and focusing on boosting the mobile version of cognitive assessment and stimulation application through upgrading existing products.
To take advantage of the opportunities, the publisher recommends the cognitive assessment and training companies to focus on new artificial intelligence tools, focus on mobile applications for cognitive assessment and training, expand in emerging markets, continue to target developed markets, focus on merger and acquisition activities, provide competitively priced offerings, focus on increasing awareness, participate in trade shows and events, continue to target fast-growing end-use applications.
This report describes and explains the cognitive assessment and training market and covers 2016-2021, termed the historic period, and 2021-2026 termed the forecast period, along with further forecasts for the period 2026-2031. The report evaluates the market across each region and for the major economies within each region.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 266 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value (USD) in 2021 | $3353.42 Million |
| Forecasted Market Value (USD) by 2031 | $25050.03 Million |
| Compound Annual Growth Rate | 22.3% |
| Regions Covered | Global |
Key Topics Covered:
1. Cognitive Assessment And Training Market Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
6. Introduction and Market Characteristics
6.1. General Market Definition
6.2. Cognitive Assessment and Training Market Definition and Segmentations
6.3. Market Segmentation by Component
6.3.1. Solutions
6.3.2. Services
6.4. Market Segmentation by Organization Size
6.4.1. Large Enterprises
6.4.2. Small And Medium-sized Enterprises (SMEs)
6.5. Market Segmentation by Vertical
6.5.1. Healthcare And Life Sciences
6.5.2. Education
6.5.3. Corporate
6.5.4. Others
6.6. Market Segmentation by Application
6.6.1. Clinical Trials
6.6.2. Learning
6.6.3. Research
6.6.4. Others
7. Global Market Size And Growth
7.1. Market Size
7.2. Historic Market Growth, 2016 - 2021, Value ($ Million)
7.2.1. Market Drivers 2016 - 2021
7.2.2. Market Restraints 2016 - 2021
7.3. Forecast Market Growth, 2021 - 2026, 2031F Value ($ Million)
7.3.1. Market Drivers 2021 - 2026
7.3.2. Market Restraints 2021 - 2026
8. Cognitive Assessment And Training Market, Regional Analysis
8.1. Global Cognitive Assessment And Training Market, By Region, Historic and Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
8.2. Global Cognitive Assessment And Training Market, By Country, Historic and Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
9. Global Cognitive Assessment And Training Market Segmentation
9.1. Global Cognitive Assessment And Training Market, Segmentation By Component, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
9.2. Global Cognitive Assessment And Training Market, Segmentation By Organization Size, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
9.3. Global Cognitive Assessment And Training Market, Segmentation By Vertical, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
9.4. Global Cognitive Assessment And Training Market, Segmentation By Application, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
10. Major Market Trends
10.1. New Artificial Intelligence Tools In Cognitive Assessment And Training
10.2. Developing Mobile Phone Applications For Cognitive Assessment And Training
10.3. Strategic Merger And Acquisitions
10.4. Neuropsychological Testing and Assessment Techniques Development
For more information about this report visit https://www.researchandmarkets.com/r/xuk3pp
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