Market Highlights
The cognitive assessment and training market 2020 size are estimated to strengthen its position due to increased consumer awareness about its benefits. the information and communication technology industry reports are put forth by Market Research Future, which focuses on market options for growth. A 25 % CAGR is predicted to create revenues worth USD 9 billion in the coming period.
The development of the technological component is estimated to spur the global cognitive assessment & training market share in the forthcoming period. The upsurge in the number of startups in the cognitive assessment & training market in the impending period is estimated to benefit the long-term growth. The increased focus on proper selection and assessment of candidates is anticipated to nudge the market in an upward trajectory in the forecast period. The developing need for refining the neuroplasticity of the brain is projected to intensively guide the expansion of the cognitive assessment & training market in the forthcoming period.
Cognitive training can help overcoming various psychological barriers and improve mental strength. These assessment and training modules vary depending on the age and mental status of as individual. From a teenager to and elderly person, cognitive assessment is being the utilized to understand mental strength of individuals belonging from different age group. It can also help students who face learning difficulties or have disorders such as dyscalculia and dyslexia.
Cognitive assessment is the process of gauging the mental capability of a person which is in turn related to a lot of basic abilities attributed to a human mind. It is basically carried out in order to determine a person’s learning ability by identifying their strengths and weaknesses and proper cognitive training is provided in order to overcome those weaknesses.
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Segmentation:
The segment-based scrutiny of the cognitive assessment & training market is conducted on the basis of segments such as component, assessment type, application, vertical, and region. On the basis of the component, the cognitive assessment & training market consists of solution and services. Based on the assessment type, the cognitive assessment & training market is segmented into biometric assessment, hosted assessment, and pen & paper-based assessment. By application, the cognitive assessment & training market consists of corporate learning, clinical trials, classroom learning, brain training and research. On the basis of vertical, the market for cognitive assessment &training is segmented into healthcare, education, sports, corporate, defense and pharmaceuticals. Based on the regions, the cognitive assessment & training market is segmented into North America, Asia Pacific, Europe and other global regions.
Competitive Analysis
The enhancement in manufacturing potential is projected to create an improved product offering in the global market. The buying patterns in the market are expected to promote the development of the market in the upcoming period. the development of assets is estimated to create a positive scope for the development of the market in the coming period. The focus on expansion by the market contenders is expected to create a favorable momentum in the global market in the forecast period. The inclusion of sustainability in business plans is expected to create optimistic opportunities for development in the upcoming period. The emphasis on innovation is expected to help the market establish relevancy in line with estimated customer preferences. The positive reinforcement by government policies is expected to open up new avenues for progress in the coming period. The access to the notable target markets is estimated to allow the market contenders to gain the impetus necessary for success in the forecast period.
The remarkable players in the cognitive assessment & training market are Cogstate Ltd. (U.S.), Bracket Global (U.S.), Cambridge Cognition Ltd. (U.K), Quest Diagnostics, Inc. (U.S.), Neurocog Trials, Inc. (U.S.), ProPhase, LLC (U.S.), Cognifit (U.S.), Medavante, Inc. (U.S.), Eresearchtechnology Inc. (U.S.), and Pearson Education (U.K)
Detailed Regional Analysis
The regional analysis of cognitive assessment & training market is being studied for regions such as Asia Pacific, North America, Europe and Rest of the World. It has been observed that North America is estimated to account for the largest share of the market, whereas Europe is projected to grow at the fastest rate during the forecast period. The major growth in cognitive assessment & training market in North America is attributed to technological advancements and increasing adoption of cognitive assessment & training applications across various industry verticals in that region.
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Cognitive Assessment & Training Market, By Component (Solution, Services), By Assessment Type (Classroom Learning, Corporate Learning, Brain Training, Clinical Trials, Research), By Application (Corporate, Healthcare), By Vertical - Forecast till 2023
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