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Cognitive Assessment And Training Global Market Report 2024 To 2033 | Pearson plc, Quest Diagnostics, Koninklijke Philips N.V, Cogstate Ltd
Cognitive Assessment And Training Market Segment
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According to The Business Research Company's, The cognitive assessment and training market size has grown exponentially in recent years. It will grow from $4.85 billion in 2023 to $6.05 billion in 2024 at a compound annual growth rate (CAGR) of 24.8%. The growth in the historic period can be attributed to rapid growth in aging population, an increase in investments, increased healthcare expenditure and digitization.
The cognitive assessment and training market size is expected to see exponential growth in the next few years. It will grow to $13.73 billion in 2028 at a compound annual growth rate (CAGR) of 22.8%. The growth in the forecast period can be attributed to a rise in healthcare expenditure, an increase in demand for brain training from next generation population and increasing investments. Major trends in the forecast period include focusing on new artificial intelligence, focusing on developing mobile apps, focusing on merger and acquisitions and focusing on neuropsychological testing and assessment techniques.
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Market Drivers and Trends:
Increased adoption of e-learning is expected to propel the growth of the cognitive assessment and training market during the forecast period. The delivery of learning and training through digital resources such as computers is known as eLearning. Assessment is an important aspect of the online classroom. A cognitive assessment offers a profile of an individual's academic abilities and challenges, as it provides a managed snapshot of their performance, thus helping to track progress in e-learning. There has been a significant increase in the adoption of e-learning, which in turn has increased the demand for cognitive testing. According to the e-learning statistics 2020 published by EdApp, a company that creates micro-learning-based learning management systems, the e-learning market is projected to reach over $300 billion by 2025. Therefore, increased adoption of e-learning drives the growth of the cognitive assessment and training market.
Key players focusing on developing mobile applications and software equipped with the latest technologies such as artificial intelligence and the Internet of Things are shaping the cognitive assessment and training market. The companies are focusing on technological innovations and new product launches for better and enhanced results and product offerings to the market. For instance, in October 2022, S2 Cognition, a US-based sports company, launched a Mobile Testing Lab for athletes. The Mobile Testing Lab offers cognitive assessments to event venues hosting large groups of athletes for tournaments and camps.
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Major Key Players of the Market:
IBM Corporation, Salesforce.com, Inc., Engie SA, SAP SE, Simble Solutions Ltd, Enablon, Schneider Electric SE, GreenStep Solutions Inc, IsoMetrix Software, Dakota Software Corporation, Altilium, Yokogawa India, SGS India, Mitsui, Pwc Japan Group, Enking International, Carbon Trust China, Carbonstop, Enesource, Carbon Care Asia, Sphera, Carbon Intelligence, Planetly, Compact Carbon Capture (3C), Accuvio, Cority Software Inc, Energycap LLC, Intelex Technologies Inc, Locus Technologies, Nativeenergy Inc, Johnson Controls, Accenture* PLC, Velocityehs And Carbon Trust, Envirosoft Corporation, Energywatch's Watch Wire, Metricstrac, Processmap EHS Software, Carbon Footprint Ltd, Shagaya Clean Energy Development, Greencarbon Co. W.L.L, Tristar Group, Alternative Energy Projects Co, Starsight Energy.
Cognitive Assessment And Training Market 2024 Key Insights:
• The cognitive assessment and training market size is expected to see exponential growth in the next few years. It will grow to $13.73 billion in 2028 at a compound annual growth rate (CAGR) of 22.8%.
• Rising Demand For Cognitive Assessment And Training Driven By Increased Adoption Of E-Learning
• Innovative Mobile Applications And Software Drive Growth In Cognitive Assessment And Training Market
• North America was the largest region in the global cognitive assessment and training market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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