Cognitive Assessment and Training Market Size is Expect to USD 7.5 Billion by 2020

Date: 2015-09-05

“Cognitive assessment primarily is the assessment of cognitive capabilities to estimate an individual’s intellectual functioning. It involves various tests administered to the individual to determine a wide range of abilities such as memory, problem-solving skills, language skills, and other intellectual capabilities. Pen and paper-based assessment, hosted assessment and training tools, biometrics, and innovative medical instruments are some of the methods used for cognitive assessment and training. Cognitive assessment finds wide application in areas such as clinical trials, classroom learning, corporate learning, and academic research across various verticals like education, healthcare, corporate, sports, defense, and others.

Aging population across the world and increasing awareness for brain fitness among individuals and professionals are the main drivers of the cognitive assessment and training market. With the advancement in technology and growing need for cognitive assessment and brain training, the  market is expected to witness huge opportunity to grow in the next five years.

The cognitive assessment and training market comprises key players such as Pearson Assessments, Cognifit, Bracket Global, Cogstate, Brain Resource, Cambridge Cognition Ltd., and others. These players adopted various strategies such as new product developments as well as partnerships & collaborations and business expansions to cater to the needs of the cognitive assessment and training market.

It is expects the cognitive assessment and training market size to grow from USD 2.4 billion in 2015 to USD 7.5 billion by 2020, at a CAGR of 25.6% from 2015 to 2020. The healthcare sector is also expected to account for the largest market share throughout the forecast period. However, there are few revenue pockets, namely defense and sports, which are also expected to witness significant growth in this period.

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