by Market Overview:
Brain training apps are software applications used on various technological devices like smartphones, tablets, laptops etc. These apps are used to train brain and enhance cognitive abilities like memory, focus, problem solving etc. through various activities, games, tests and exercises.
Market key trends:
One of the key trends in the brain training apps market is gamification of brain training. Gamification refers to incorporating game elements into brain training activities in order to increase engagement and enhance motivation of users. Brain training apps nowadays offer complex and entertaining games and interactive activities to users instead of monotonous drills and tests. Gamification makes brain training engaging and fun which drives its adoption.
Segment Analysis
The global brain training apps market is segmented into social skills, health & fitness, memory and concentration, language learning, meditation, and others. Among these, the memory and concentration segment dominates the market and is expected to remain dominant over the forecast period. This is due to the growing need for improving memory and concentration among both students and professionals worldwide. With hectic daily schedules and workloads, brain training apps that focus on memory and concentration are gaining immense popularity as they help enhance these cognitive abilities in a fun and engaging manner.
Key Takeaways
The Global Brain Training Apps Market Demand is expected to witness high growth, exhibiting a CAGR of 23% over the forecast period, due to increasing screen time among people worldwide and rising preference for gamified learning.
Regional analysis:
North America dominates the global brain training apps market and is expected to continue its dominance over the forecast period. This is attributed to the presence of key players and rising awareness about brain training apps among individuals for professional and personal use in the region. Asia Pacific is expected to grow at the fastest pace during the forecast period due to the growing middle-class population, increasing disposable income, and rising popularity of mobile learning.
Market size: The global brain training apps market size for 2023 is US$ 10962.74 Mn. The market is expected to surge over the forecast period propelled by growing digitalization and adoption of mobile devices worldwide.
Key players: Key players operating in the brain training apps market are CogniFit, Elevate, Peak, Rosetta Stone Ltd., LearningRx, Lumosity, HAPPYneuron, Inc., Wise Therapeutics, Inc., Easybrain and Happify, Inc. These companies are focusing on new product launches, partnerships, and mergers and acquisitions to strengthen their foothold in the market. For instance, CogniFit partnered with Union de Tenis de Mesa de Uruguay to develop customized cognitive training programs for top table tennis athletes.
Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
