According to a new market research report published by Credence Research “Global Cognitive Assessment and Training Market (Assessment Type (Biometrics Assessment, Hosted Assessment, Pen and Paper Based Assessment); Component (Solution [Assessment, Data Analysis and Reporting, Data Management, Project Management, Others] Service [Consulting, Training & Support); Application (Brain Training, Classroom Learning, Clinical trials, Corporate Learning, Research, Others); End-use (Education, Healthcare, Corporate, Sports, Defense, Pharmaceuticals, Others)) – Growth, Future Prospects and Competitive Analysis, 2019 - 2027”, the Cognitive Assessment and Training market is set to grow with a CAGR of 32% during the forecast period, up from US$ 3.42 Bn in 2018.
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The global cognitive assessment and training market is driven by the increasing adoption of the gamification in the assessment techniques. The integration of the gamification into the cognitive assessment process makes the process easier and improves the quality of the process. The gamification effectively fits into the assessment process and provide better engagement while maintain the value of the process. Furthermore, the advancement in the cognitive assessment and training tools is boosting its adoption across several corporate in the recruitment process to assess the competency of the candidate. Additionally, the increasing geriatric population along with the rising prevalence of the Alzheimer diseases is accelerating the growth of the market.
The adoption of the cognitive assessment and training among the corporate is estimate to grow significantly during the forecast period. As the technology is becoming more advance and the assessment tools are becoming more sophisticated, the organization started to use cognitive assessment and training solutions to enhance the mental health and cognitive fitness of the employees via structured course and tools. Furthermore, the corporate are leveraging on the assessment tools in the recruitment process and enhancing the productivity of the employees.
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Asia Pacific is projected to grow significantly during the forecast period. The growth of the market is driven by the increasing geriatric population across the region. China alone has approximately 194 million people over the age of 60 years and this number is estimated to increase to 440 million by 2050. This is driving the demand for the cognitive assessment and training. Furthermore, the growing prevalence o f the neurological diseases in the region is also propelling the market growth.
Some of the prominent vendors in the cognitive assessment and training market are Cognifit, Cambridge Cognition Ltd., ERT Clinical, Bracket Global, CNS Vital Signs LLC, Brain Resource Ltd., IntelliTools Inc., CRF Health, Medavante Inc., Cogstate Ltd., Neurocog Trails Inc., Lumos Labs, Quest Diagnostics, Posit Science Corp., and Pearson Assessments.
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