The global cognitive assessment and training market is expected to be valued at USD 37.33 Billion by 2027 from USD 4.11 Billion in 2019, registering a CAGR of 31.6% through the forecast period. Cognitive assessment and training (CAT) refer to the holistic evaluation of an individual’s mental faculties, including IQ (intelligence quotient), perceptual abilities, verbal skills, information processing speed, and various other parameters. Cognitive assessment offers significant benefits, such as immediate detection of dementia, cognitive training, etc., and finds application in a wide range of areas, including psychological education, sports management, employee management training, and personality management. CAT plays a vital role in the corporate sector, as companies implement various cognitive assessment techniques and solutions during employee recruitment to determine a candidate’s overall eligibility.
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The global cognitive assessment and training market is expected to gain massive traction in the forthcoming years. The pivotal factors accelerating the growth of this market include the rising awareness about mental health and fitness, growing rate of gamification for cognitive assessment, rising adoption of e-learning, and rapid digitization and technological advancements, especially in developing countries. The growing adoption of advanced cognitive assessment and training solutions in the corporate, education, healthcare, and sports industries is a major propeller for the global market growth. The education sector extensively employs CAT solutions to develop personalized cognitive tests for students in order to prepare them for various competitive examinations. Moreover, cognitive assessment plays a significant role in the healthcare sector, helping healthcare professionals assess and monitor the cognitive functions of an individual. It is widely used in clinical trials and the detection of neurological disorders.
Key findings of the report:
- Based on component, the solutions sub-segment held the highest revenue of USD 2.67 Billion in 2019 and is projected to dominate the global market through the forecast period at an impressive 31.1% CAGR. CAT solutions are extensively used in the healthcare sector to detect mental health disorders and cognitive disabilities, such as dementia.
- The healthcare industry is the leading end-user sub-segment in the global cognitive assessment and training market. This sub-segment retained the most significant 54.6% market share by 2019. CAT solutions find profound application in clinical drug development processes, mental health disorder diagnosis, and cognitive functioning assessment. Cognitive training and support services aid in the treatment of specific mental health conditions, including dementia and Alzheimer’s. Hence, the segment is expected to maintain its dominant position over the forecast period due to such favorable factors.
- The Asia Pacific market held a significant 27.0% market share by 2019 and is estimated to register the fastest CAGR of 32.7% over the forecast period. Fast-paced digitization, growing awareness of mental health disorders, and the increasing significance of cognitive assessment and training across numerous industry verticals bolster the growth of the market in this region.
- Leading players in the global cognitive assessment and training market include Cognifit, Cambridge Cognition Ltd., Bracket, Pearson Education, Medavante Inc., Quest Diagnostics, Neurocog Trials, ERT Clinical, Prophase, LLC, and Brain Resource Company.
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For the purpose of this report, the global cognitive assessment and training market has been segmented based on component, assessment method, end-user, and region:
Component Outlook (Revenue, USD Billion; 2017-2027)
- Data Management
- Data Analysis and Reporting
- Project Management
- Training and Support
Assessment Type Outlook (Revenue, USD Billion; 2017-2027)
- Biometrics Assessment
- Hosted Assessment
- Pen and Paper Based-Assessment
End-user Outlook (Revenue, USD Billion; 2017-2027)
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Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East Africa
- Saudi Arabia
- Rest of Middle East Africa