The brain training apps Market is estimated to be valued at US$ 10,962.74 Mn in 2023 and is expected to exhibit a CAGR of 23% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Brain training apps are software applications designed to help improve cognitive functions such as memory, problem-solving, attention and processing speed through various games and activities. These apps utilize adaptive algorithms and personalized recommendations to offer fun and engaging puzzles, quizzes and activities tailored for individual users based on their performance. Popular brain training apps help enhance cognitive abilities in the areas of math, language, problem-solving, attention and memory.
Market Dynamics:
Rising prevalence of neurological and cognitive disorders: The increasing incidence of neurological conditions such as Alzheimer's disease, dementia, Parkinson's disease and autism spectrum disorder has underscored the need for simple and effective methods to boost cognitive functions. Brain training apps are emerging as a promising avenue to help manage the risk of cognitive decline through regular mental exercises. According to WHO estimates, over 55 million people globally have dementia and there are nearly 10 million new cases every year.
Increasing adoption of wearable devices & brain-computer interface technology: Advancements in wearable devices, neuro-technology and brain-computer interface have enabled constant monitoring of brain activity patterns and development of individualized assessment and training programs based on the data collected. Integration of EEG, MRI and other neuroimaging tools with brain training systems allow deep assessment of cognitive abilities and performance tracking over time. This technology is expected to boost adoption of brain training apps in the coming years.
Segment Analysis
The global brain training apps market is dominated by the cognitive training sub-segment. This sub-segment accounted for around 45% of the market share in 2023. Cognitive training apps help in improving attention, memory, problem solving skills and multi-tasking abilities. Increasing acceptance of technology based healthcare solutions and growing geriatric population have spurred the demand for cognitive training apps.
PEST Analysis
Political: Governments across major economies are supporting brain health and cognitive assessment initiatives. Favorable regulations have encouraged adoption of brain training apps.
Economic: Rising per capita income coupled with growing awareness about maintaining brain health have stimulated market growth. However, economic slowdowns may restrict customer spending on non-essential apps.
Social: Rapid digitalization, growing popularity of mind and body wellness programs, and increasing health consciousness among younger generation are the key social factors boosting adoption.
Technological: Advancements in AI, machine learning and data analytics have enabled development of more engaging, effective and personalized brain training solutions. Growing penetration of smartphones and tablets facilitates usage of on-the-go brain training apps.
Key Takeaways
The Global Brain Training Apps Market Demand is expected to witness high growth, exhibiting CAGR of 23% over the forecast period, due to increasing health awareness among consumers and growing geriatric population. The North America region dominated the brain training apps market with around 35% share in 2023 owing to high disposable income, high healthcare expenditure and presence of leading solution providers in the region.
Regional analysis
The North America region dominated the brain training apps market with around 35% share in 2023 owing to high disposable income, high healthcare expenditure and presence of leading solution providers in the region like CogniFit, Lumosity and Peak in the US. The Asia Pacific region is expected to exhibit fastest growth during the forecast period owing to rising awareness regarding brain health, increasing number of neurodegenerative disease patients, and growing penetration of smartphones in the region.
Key players operating in the brain training apps are CogniFit, Elevate, Peak, Rosetta Stone Ltd., LearningRx, Lumosity, HAPPYneuron, Inc., Wise Therapeutics, Inc., Easybrain and Happify, Inc. Key players are focused on developing more personalized and customized brain training programs by incorporating technologies like virtual reality and augmented reality. They are also expanding their geographic footprint through partnerships and mergers & acquisitions.
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This report studies the Brain Training Apps Market with many aspects of the industry like the market size, market status, market trends and forecast, the report also provides brief information of the competitors and the specific growth opportunities with key market drivers.
Find the complete Brain Training Apps Market analysis segmented by companies, region, type and applications in the report.
The report offers valuable insight into the Brain Training Apps market progress and approaches related to the Brain Training Apps market with an analysis of each region.
The report goes on to talk about the dominant aspects of the market and examine each segment.Get a Free Sample: https://www.reportsandmarkets.com/sample-request/global-brain-training-apps-market-3861060?utm_source=techsite_medium=14The global Brain Training Apps market segmented by company, region (country), by Type, and by Application.
The segmental analysis focuses on revenue and forecast by region (country), by Type, and by Application for the period 2021-2027.Market Segment by Regions, regional analysis coversNorth America (United States, Canada and Mexico)Europe (Germany, France, UK, Russia and Italy)Asia-Pacific (China, Japan, Korea, India and Southeast Asia)South America (Brazil, Argentina, Colombia etc.
)Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)Research objectives:To study and analyze the global Brain Training Apps market size by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2026.To understand the structure of Brain Training Apps market by identifying its various sub segments.Focuses on the key global Brain Training Apps players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.To analyze the Brain Training Apps with respect to individual growth trends, future prospects, and their contribution to the total market.To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).To project the size of Brain Training Apps submarkets, with respect to key regions (along with their respective key countries).To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.To strategically profile the key players and comprehensively analyze their growth strategies.To strategically profile the key players and comprehensively analyze their growth strategies.The report lists the major players in the regions and their respective market share on the basis of global revenue.
