The global Brain Training Apps Market Growth Accelerated by Drastic Increase in Brain Training Apps Users
Brain Training Apps Market |
Brain training apps refer to
mobile applications which aim to train cognitive abilities such as
problem-solving, attention, memory, language, and social skills through
challenges and exercises. Brain training exercises such as Sudoku, chess,
virtual crossword puzzles and memory games help improve cognitive functions
through stimulating brain activities. With rising awareness about brain health
and cognitive decline, users have been motivated to incorporate brain training
into their daily routine. Further, factors such as easy accessibility, low cost
and wide availability of these apps have boosted their popularity over the past
few years.
The global Brain Training Apps
Market is estimated to be valued at US$ 10962.74 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 key trends:
One of the key trends driving the
growth of the brain training apps market is the drastic increase in brain
training apps users over the last few years. According to a study, the global
brain training apps market witnessed a user base growth of over 120% between 2020
to 2022. The Covid-19 pandemic further accelerated this growth as lockdowns and
movement restrictions compelled users to focus on activities that could be
performed from home. Brain training apps emerged as an effective way for users
to engage their brain in a fun and interactive manner while staying indoors.
The availability of a wide variety of brain training games catering to
different age groups, interests and cognitive needs has made these apps very
attractive amid the pandemic. This dramatic spike in users has significantly
contributed to the increased demand and revenue in the brain training apps
market during this period.
Segment Analysis
The global Brain Training Apps
market is dominated by the memory and attention sub segment. This sub segment
holds more than 35% of the total market share owing to rising ageing population
worldwide. With increasing age, the risk of cognitive decline and diseases such
as Alzheimer's and dementia rise considerably. Hence, memory and attention
training apps are seeing high demand as they help enhance memory, focus,
concentration and provide brain workout routines.
Key Takeaways
The Global
Brain Training Apps Market Size is expected to witness high growth over
the forecast period of 2023 to 2030. The global Brain Training Apps Market is
estimated to be valued at US$ 10962.74 Mn in 2023 and is expected to exhibit a
CAGR of 23% over the forecast period 2023 to 2030.
North America region currently
holds the largest share of over 30% of the total market. However, Asia Pacific
region is emerging as the fastest growing regional market growing at a CAGR of
around 26% during the forecast period. Key factors for high growth in Asia
Pacific include rising disposable incomes, growing smartphone penetrations and
increasing awareness about brain fitness apps.
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. CogniFit and
Lumosity are currently the dominating players owing to their wide skills based
and science backed brain training solutions available for all major platforms
including both Android and iOS. CogniFit also leads in terms of number of
downloads globally.
Get More Insights Here
https://www.newsstatix.com/brain-training-apps-market-size-share-growth-outlook-2023/
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