As cited by the research report titled ‘Global Cognitive Assessment and Training Market Size study, by Type (Pen-based and paper-based assessment, Hosted assessment) by Component (Solution, Services) by Application (Clinical trials, Brain training, Classroom learning) and Regional Forecasts 2021-2027’, available with MarketStudyReport, global cognitive assessment and training market was worth USD 3.2 billion in 2020 and is projected to grow with a CAGR of 29.70% to accumulate USD 19.76 billion over 2021-2027.
 

Increasing competition in education sector, mounting healthcare expenditure, and rising elderly population are the major factors driving global cognitive assessment and training market growth. As per United Nations' Department of Economic and Social Affairs, the elderly population aged 65 years or older was around 703 million in 2019 and is expected to increase to 1.5 billion by 2050.
 

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Therefore, with an increasing number of senior citizens across the world the prevalence of diseases like lack of sightedness and dementia are likely to rise, which in turn has augmented the demand for cognitive assessment and training.
 

For the record, cognitive assessment and training is the process of assessing the IQ level, mental fitness, and cognitive abilities like logical thinking and problem solving of an individual. Technological advancements as well as growing number of market players are likely to augment the industry growth over the estimated timeline.
 

Speaking of the negatives, considerable amount of time involved in developing brain training solutions along with adverse thoughts about brain training and cognitive skills are hindering the market progression over the projected timeline.
 

Based on type, global cognitive assessment and training industry is segmented into pen-based & paper-based assessment, and hosted assessment. Considering component range, the marketplace is categorized into solution, and services. Speaking of application ambit, the business space is divided into clinical trials, classroom learning, and brain training.
 

The geographical analysis of the worldwide cognitive assessment and training industry involves North America, Asia Pacific, Europe, Latin America, and the rest of the world. Experts cite that North America is likely to hold a significant market share during the estimated timeline, primarily due to the high concentration of prominent companies in the region.
 

Meanwhile, Asia Pacific market is poised to showcase the highest growth rate over the projected timeline 2021-2027 owing to increasing technological adoption along with growing number of dementia patients across the region.
 

Prominent players influencing the global cognitive assessment and training industry trends are Posit Science Corporation, Listen and Learn Centre, Lumosity, LearningRx Franchise Corporation, Cambridge Cognition Ltd., GL Assessment, Cogstate Ltd., Impact Tech Inc., Pearson Assessments, and Oxford Learning. The report incorporates detailed profiles of the aforementioned players with information on their businesses and product portfolios, along with the latest developments.