by The rising prevalence of cognitive decline, dementia and Alzheimer’s disease across both developed and developing regions has bolstered the demand for brain training apps which provide cognitive exercises and help in improving memory,attention, problem solving and other cognitive functions. Brain training apps incorporate various features like notifications, reminders, spaced retrieval and gamification techniques to make learning engaging and aid in cognitive enhancement. With widespread digitalization and increasing internet penetration, brain training apps provide a convenient and accessible mode for cognitive exercise from any remote location.
The global Brain Training Apps Market is estimated to be valued at US$ 10,962.74 million in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The market is witnessing increasing adoption of machine learning and Artificial Intelligence integrated brain training apps. AI enables adaptive difficulty adjustments, personalized recommendations and continuous performance tracking. This augments the effectiveness of cognitive training. Furthermore, recent studies have shown positive effects of combining brain training with physical activity. Many new apps are focusing on multi-dimensional programs involving both cognitive and physical exercises tailored as per individual needs and goals. Augmented Reality and Virtual Reality based brain training is another emerging trend with immersive experiences and 3D simulations finding increased applications for memory, problem solving and focus enhancement.
Porter’s Analysis
Threat of new entrants: The brain training apps market has moderate threat of new entrants as significant capital investments are required to enter the market. However, with increasing digitalization and availability of affordable smartphones, the barrier is lowering.
Bargaining power of buyers: The bargaining power of buyers is high as there are many apps available at low prices and customers can switch between apps easily.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are many app developers and platform developers in the market.
Threat of new substitutes: The threat of new substitutes is moderate as alternative options like physical brain games are available but cannot replicate all the features of brain training apps.
Competitive rivalry: The competitive rivalry in the market is high as the major players like Argus Control System, Koninklijke Philips NV continuously invest in innovation and technology to offer new features.
Key Takeaways
The global brain training apps market size is expected to witness high growth over the forecast period. The global Brain Training Apps Market is estimated to be valued at US$ 10,962.74 million in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030.
Regionally, North America is expected to dominate the market owing to high smartphone penetration and awareness regarding brain health and training. The Asia Pacific region is anticipated to register the fastest growth due to increasing disposable incomes and growing focus on preventive healthcare in countries like China and India.
Key players operating in the brain training apps market are Argus Control System, Koninklijke Philips NV, Lumosity, CogniFit,Elevate, Peak, and Posit Science. Argus Control System offers brain training apps like MindMatrix and SmartCap while Koninklijke Philips NV provides brain training programs through Philips BrainTrainer apps. Lumosity and CogniFit are primarily focused on cognitive skills improvement through brain training games on their apps. Elevate and Peak apps offer meditation and mindfulness training programs to reduce stress levels. Posit Science is focused on preventing age-related cognitive decline through their brain training app programs
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
