The cognitive assessment and training market is anticipated to display an exponential 16.5% CAGR between 2020 and 2030. The coronavirus pandemic will have a moderate effect on the global cognitive assessment and training market, owing to disruptions in supply chains and production for hardware components required for cognitive assessment systems. However, online platforms are helping market players to sustain operations and minimize losses during the crisis period.
The overall growth projection of the global cognitive assessment & training market is expected to be on a lower trajectory than the previous forecast due to the ongoing COVID-19 pandemic. During the second quarter of 2020, an increment in sales of this software is anticipated as a result of increasing prevalence of mental disorders and increasing per capita spending on mental health. After the dissipation of the pandemic, demand for cognitive assessment testing across the globe will continue to increase, not only among the younger generation, but also among the widely expanding geriatric population pool.
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
Cognitive Assessment & Training Market Component Insights-
Key Companies Profiled
- IBM Watson
- Cambridge Cognition Limited
- NeuroCog Trials
- ERT Clinical
- Brain Resource Company
- Signant Health
- Cogstate Limited
- Quest Diagnostics, Inc
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.
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