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(MoneyNewsWire.Net, September 18, 2018 ) The global cognitive assessment market is estimated to grow at a CAGR of 27.12% during the forecast period 2018 – 2025 and account to US$ 17.08 Bn by the year 2025.
The global cognitive assessment market is experiencing an intense growth with regards to the investments, trials being carried out and deployment for future in the current scenario and is anticipated to rise in the coming years. The market for cognitive assessment consists of some well-established players across the globe, which are currently investing huge amounts in order to deliver the most advanced service to the customers. Government funding for research & development, strategic partnerships between various technology companies, supportive policies from the Government to allow conducting cognitive tests for various purposes are anticipated to enable huge surges in the cognitive assessment market over the forecast period.
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Top key players operating in the cognitive assessment market are Quest Diagnostics, Thomas International Ltd., Brain Resource Company, Cogstate Ltd., and Posit Science Corp. Also, Cambridge Cognition Ltd., Groupe SBT, Cognifit, Cogniciti, and Pearson Education are other key companies in the cognitive assessment market.
The cognitive assessment market segmentation is done on the basis of component, application, and end-user. The market for cognitive assessment is segmented on the basis of component into software, hardware, and service. Further, the market has been segmented into various applications where the cognitive tools can be put to use. The various applications that form the basis of the segment in the study include scientific research, clinical trials, academic assessments, corporate training & recruitment, and others. Also, the cognitive assessment market has been segmented on the basis of end-users that includes healthcare, education, enterprise, sports, Government, defense, and others. On the basis of geography, the cognitive assessment market is analyzed into North America, Europe, Asia- Pacific (APAC), Middle East & Africa (MEA) and South America (SAM).
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APAC is estimated to gain largest market share over the forecast period and is anticipated to account for close to one-third of the total market by 2025. The growth in the region is primarily driven by newer infrastructure as well as technological developments. The developing economies of APAC are experiencing a tremendous growth in their FDIs in various industry sectors. Furthermore, large population in the Asia Pacific region has led to increased population suffering from dementia problems. The APAC region comprises of several developing economies such as China and India as well as many South East Asian countries, strongly demanding for cognitive assessment tools prominently in the healthcare, education and training & recruitment sectors. The rising population of these countries is the main driver for growth of increasing usage of cognitive assessment tools in the region.
The Insight Partners
Sameer Joshi
+1-646-491-9876
sam@theinsightpartners.com
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