Cognitive Assessment and Training Market was valued USD 3.5 billion in 2021 and expected to grow at a CAGR of 20.4% | Size & Report Forecast

Cognitive Assessment and Training Market

Cognitive Assessment and Training Market touched USD 3.5 billion in 2021 and register a CAGR of 20.4% during the period, 2022-2029 and is expected to reach USD 15.5 billion in 2029

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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.

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 Pacific
China
Japan
India
Rest of APAC

North America
United States of America
Canada

Europe
United Kingdom
Germany
France
Spain
Rest of Europe

RoW
Brazil
South Africa
Saudi Arabia
UAE

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