Global Cognitive Assessment and Training Market Analysis & Forecasts, 2019

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Jul 22, 2015, 01:14 ET

DUBLIN, July 22, 2015 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/jr8z3r/global_cognitive) has announced the addition of the "Global Cognitive Assessment and Training Market 2015-2019" report to their offering.

The global cognitive assessment and training market to grow at a CAGR of 15.27% for 2014-2019.

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The report, Global Cognitive Assessment and Training Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. It also includes a discussion of the key vendors operating in this market.

This report covers the present scenario and the growth prospects of the global cognitive assessment and training market for 2015-2019. To calculate the market size, the report considers revenue generated by the counseling centers, which provide cognitive assessments for a fee or subscription. The market size estimated considers cognitive assessment sessions provided for the K-12 education segment (individuals up to the age of 16 years). Also, the following end-users were considered while calculating the revenue generated in the market: up to 6 years and 6-16 years of age.

There has been a gradual increase in standards and benchmarks in the education industry globally. This places pressure on students to perform well in competitive exams, a fact reflected in the exponential growth of the test preparation market worldwide. On the other hand, the improved economic conditions and better literacy rates of those born between the early '60s and early '80s have resulted in a heightened interest among these individuals to provide better-quality education to their children. In the process, they have realized the importance of cognitive skills development and how closely it is associated with student performance. Hence, to ensure the overall development of their children, they are investing in personality development measures such as cognitive assessments. With growing awareness, the penetration of these services will increase, creating opportunities for vendors to offer such tests while at the same time helping parents learn more about their children's cognitive abilities and empowering them to take corrective action, if required.

According to the report, cognitive assessment tests provided by vendors are standardized, and different tests address different sets of needs across sectors. As the market accommodates an increasing number of vendors, it is will face lower levels of product differentiation. An increasing number of products are becoming homogeneous in nature, which is resulting in declining price of similar products by vendors. The standardization of tests also helps in reducing the confusion and complexities among customers. The ability of such tests to assess a child's development facilitates is easy for customer to understand, as are the results of such tests. Consequently, this helps customers choose services related to cognitive assessments and training from among different vendors.

Further, the report states that vendors' training programs and assessment tests are facing credibility issues.

Key Vendors