Cognitive Assessment and Training Market to Expand 4.7x Through 2030; Online Platforms Generate Lucrative Opportunities During Covid-19 Pandemic

Cognitive assessment and training program developers are leveraging telehealth technologies to provide one on one online service to clients with a wider range of training

ROCKVILLE, MD / ACCESSWIRE / August 4, 2020 / 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.

“Mobile technologies are being used increasingly for cognitive assessment and research purposes bolster data collection, and health management. Mobile device technologies also aid in improving patient compliance, safety and satisfaction, which will aid market growth in the near future,” says the Fact.MR report.

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Cognitive Assessment and Training Market – Key Takeaways

• Education sector applications of cognitive assessment and training are anticipated to display strong growth on the back of focus on optimization of academic programs.
• Consulting services are witnessing strong growth, driven by market players collaborating with corporate bodies, seeking employee training programs.
• North America is a prominent market for cognitive assessment and training owing to proliferation of mobile devices and a large base of potential dementia patients.
   

Cognitive Assessment and Training Market – Driving Factors

• Rapid expansion of the global geriatric population coupled with investments into dementia research contribute to market growth.
• Rising number of students applying for competitive examinations bolster demand for cognitive assessment and training.

Cognitive Assessment and Training Market – Constraints

• Lack of awareness and acceptance of cognitive assessment test results is a key obstacle to market growth.
• Varied cultural and educational environments lead to a lack of standardization, posing challenges to market players.

Anticipated Market Impact by Coronavirus Outbreak

The coronavirus pandemic is having a moderate impact on the global cognitive assessment and training market owing to disruptions to hardware components required for computer-based assessments. Further, fears of contagion have hurt consultation services requiring one-on-one interactions. On the other hand, telehealth, and online platforms for cognitive testing and training will generate new revenue streams, and help in partially mitigating the losses of the industry during the crisis period.

Explore the global cognitive assessment and training market with 186 figures, 88 data tables, along with the table of contents of the report. You can also find detailed segmentation on https://www.factmr.com/report/4781/cognitive-assessment-and-training-market

Competition Landscape

Major developers in the cognitive assessment and training market include but are not limited to Cogstate Ltd., IBM Corp., and Quest Diagnostics among others.

Leading players in the cognitive assessment and training market are largely focusing on the development of new offerings with industry collaborations and integration of new technologies to optimize accuracy of results.

For instance, Harena Data is collaborating with Rezzil to provide cognitive assessment and training services to soccer players through virtual reality platforms. Similarly, Royal Phillips has launched its new AI-based IntelliSpace Cognition platform for neurological disorder patients in the US. SMARTfit Inc. has unveiled cognitive motor training programs in the United States.

More on the Report

The FACT.MR’s market research report provides in-depth insights on cognitive assessment and training market. The market is scrutinized according to component (software and services), type (personal computer and mobile & tablet), and end user (healthcare, research organization, education, and others), across seven key regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East and Africa).

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