Cognitive Assessment and Training Market
Cognitive Assessment and Training Market Assessment by Component - Cognitive Assessment and Training Software and Cognitive Assessment and Training Services
Cognitive Assessment & Training Market Insights
The global cognitive assessment & training market has evolved significantly over the last decade. Pegged at over US$ 1.5 Bn in 2019, the global cognitive assessment & training market will multiply 4.7X times from its current value during the forecast period (2020 - 2030). Usage of smartphones and tablets to collect clinician-reported outcome (ClinRO) measures are rapidly increasing worldwide.
With the industry shifting toward electronic data collection, guidelines are being created on the recommended approach for establishing a similarity between the electronic version of a clinician-administered measure and the paper version.
Standardized Electronic Clinician-reported Outcome (eClinRO) measures provide various benefits, including elimination of the duplication of data, reduction in transcription errors, real-time access to data, and accurate and complete data collection. Parallel to this, the gamification of cognitive assessment and training market will further boost its prospects.
Due to significant improvements in the integrity, quality, and timeliness of the data collected, there are a growing number of clinical trials employing electronic media to collect patient-reported outcomes (PROs). This leads to an increase in patient engagement, which is expected to drive the cognitive assessment & training market.
Cognitive Assessment & Training Market End User Insights
On the basis of end user, the market is segmented into personal computers (PC) and mobile & tablet. Among these, the mobile & tablet segment shall emerge as the highest revenue generator, with more than 60% share of the total market value. The segment will continue to generate revenue at an astounding ~17% CAGR through 2030.
Mobile technologies are used in cognitive assessment and clinical research for patient recruitment, data collection, symptom monitoring, and health management. In order to improve patient compliance, patient care, patient safety, and patient satisfaction, the adoption of mobile applications and IT systems are increasing in hospitals and healthcare centers. Also, the increasing demand from physicians and hospitals to access patient databases remotely is supporting the increasing adoption of mobile applications and IT systems in healthcare organizations.
Know More Details About the Report
Cognitive Assessment & Training Market Component Insights-
Advancements in IT systems and healthcare technologies plays an important role in fueling growth of cognitive assessment solutions in many of the developed and developing countries. Software components account for a majority share of more than 70% of the total market value. The segment will grow at a stupendous ~17% CAGR through 2030.
As organizations across the world leverage industry 4.0 technologies such as artificial intelligence, machine learning, and the internet of things, they require high-performance software to aid precision performance. The services component segment will grow at a marvelous ~15% CAGR between 2020 and 2030.
Cognitive Assessment & Training Market Regional Insights-
North America is the largest regional market, accounting for 42% of the total market value. Developed countries such as the US are home to start-ups and prominent market players. When coupled with high-disposable income of consumers, the North American region will continue its share-wide dominance with over 15% CAGR during the projection period.
Regions in the Asia Pacific, namely, East Asia and South Asia & Oceania present the most remunerative opportunities from six major regions. East Asia will grow at 16% CAGR and South Asia & Oceania will grow at 19% CAGR from 2020 to 2030.
Booming digital economies in these regions such as Indonesia, India, Singapore, China, Japan, and South Korea are central to the skyrocketing growth. The development in mobile health technologies has emerged as a natural extension of the new generation of healthcare systems and IT solutions. The factors are impelling the growth of cognitive assessment & training markets in these regions.
Avail customized purchase options for your needs
Cognitive Assessment & Training Market Technology Insights-
With the advancements in mobile technologies, cognitive assessment vendors are developing mobile based cognitive assessment solutions and integrating advanced digital technologies. Due to this advancement the demand for cognitive assessment solutions will increase in the forecast period.
New entrants might also introduce new technologies to penetrate into the market. Global cognitive assessment & training market is consolidated in nature, key players in the market include IBM Corporation, Quest Diagnostics, and Cogstate Ltd. accounting for more than 50% share in global market
Cognitive Assessment & Training Market COVID-19 Impact Insights
The COVID-19 Pandemic has forced organizations to adopt digital collaboration and manufacturing. Organizations that were postponing their digital transformation are rapidly shifting their operations to tech-driven advanced technologies.
This will increase the demand for online cognitive assessment & training components such as software and services (Training, Consulting, and Support & Maintenance). Major players in the cognitive assessment & training market are leveraging this pandemic driven digital transformation to garner revenues. Since cognitive assessment & training software can be delivered without physical interaction, COVID-19 has had little impact on the market.
However, hardware component manufacturers face stiff production challenges. As global import and export is suspended, the supply chain of cognitive assessment & training hardware has been disrupted. Market players are now focusing their efforts on selling software, services, and platforms.
COVID-19 has created an increasing prospect pool for cognitive assessment & training companies, as organizations look to judiciously spend their cash reserves in financially rewarding technologies. Cognitive assessment & training with its versatility of applications in various industry verticals is well poised to help organizations minimize financial losses. Fast recovering countries such as Australia, and India will present profitable revenue opportunities amid the COVID-19 Pandemic.
An Adaptive Approach to Modern-day Research Needs
Rising incidence of neurological diseases and rising adoption of cognitive assessment techniques in schools and colleges due to smartphone and tablet penetration may also spur demand for these solutions.
Global Cognitive Assessment & Training Market: Scope of the Report:
The recent global cognitive assessment & training market report by Fact.MR offers a 10-year forecast from 2020 to 2030. The report elaborates on key drivers, restraints, opportunities and threats to the expansion of the global cognitive assessment & training market. A detailed segmental analysis, based on component, type and end-user, has been provided in the report.
Regional analysis in terms of supply chain analysis, business execution and market value analysis provides an in-depth perspective about the future scope of the global cognitive assessment & training market. In addition, a separate section on market structure has also been provided. The section provides a detailed analysis of key market players and the strategies for expansion in the cognitive assessment & training market.
Have a report related query? Speak to us directly
The global cognitive assessment & training market is segmented on the basis of component, type, end-user, and region.
- Support & Maintenance
- Personal Computer (PC)
- Mobile & Tablet
- Research Organization
- North America
- Latin America
- East Asia
- South Asia
- Middle East & Africa
Global Cognitive Assessment & Training Market - Scope of the Report
The following report provides a forecast and analysis of the global cognitive assessment & training market along with the historical data of 2015, estimated data 2020 and forecast data up to 2030 in terms of value (US$ Mn), according to a Fact.MR study. The research propounds critical trends that are currently influencing growth within the global cognitive assessment & training market along with several macro-economic indicators. This newly published and insightful report on cognitive assessment & training sheds light on key dynamics, and their impact on the overall value chain from providers to integrators to end-users, which are expected to transform the future of the global cognitive assessment & training market.
The report also comprises the study of current issues with end users and opportunities for cognitive assessment & training. It also contains value chain analysis, including the key market participants. To provide users of this report with a comprehensive view of the market, we have included a detailed competitive analysis about the key players involved in the market and strategic overviews. The dashboard included in the report provides a detailed comparison of cognitive assessment & training providers on parameters such as total revenue, product offerings, and key strategies. A list of key companies operating in the cognitive assessment & training market provided in the report adds to the credibility of this exhaustive research study.
This taxonomy prepared are confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than the addressee(s) is unauthorized and prohibited.
Country-specific assessment on demand for cognitive assessment & training has been provided for each regional market, along with the market size valuation and forecast, impact analysis of key regional and country-wise dynamics, which were obtained through quotes from numerous cognitive assessment & training providers, experts, and integrators. Y-o-Y growth projections have also been offered on all regional markets incorporated in the report. Moreover, future trends, growth prospects, and other possibilities related to the market have been answered in the report.
Global Cognitive Assessment & Training Market: Research Methodology
A number of primary and secondary sources were consulted during the course of the study. Secondary sources include Factiva, Morningstar and Hoovers, and company annual reports and publications. Comprehensive interviews have been conducted by our analysts, and the intelligence and insights obtained have been used for validating the information gained through secondary research. The report also includes a description of assumptions and acronyms utilized for research purposes. Data gathered has been validated using the triangulation method to offer useful quantitative and qualitative insights into the cognitive assessment & training market.
A short market viewpoint offered in the report elucidates the macro-economic aspects that influence the growth of the cognitive assessment & training market, which includes global GDP growth rate, impact of COVID-19, brain monitoring software industry growth rate, smartphone penetration growth rate, rare disease prevalence rate and per capita spending on mental health, etc. This report serves as an authentic resource of intelligence on the cognitive assessment & training market, enabling the readers to take fact-based decisions on the future direction of their businesses
Need an Exclusive Report for your Unique Requirement?
- Related Reports -
The Rise of Intelligent Packaging
Personalized, Connected and Sustainable
- Our Clients -
- Evaluate How Fact.MR's Report Can Help. -
Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
Is a sample of this report available for evaluation?
Yes, you can request a sample, and it will be sent to you through an email.