June 18, 2024
Brain Training Apps Market

Brain Training Apps Market Capturing Development Trends Amid Rising Usage Of Smartphones

The Brain training apps market has witnessed a significant growth over recent years. These apps help in improving cognitive abilities such as memory, problem-solving skills, multitasking and focus through various fun games and puzzles. Users can enhance their mental abilities for better productivity at work and daily activities through frequent usage of brain training apps on their smartphones and tablets. Key functions provided by these apps include recall improvement, mind mapping, speed reading and logical reasoning. Improved memory and sharpness assist people of all age groups from students to professionals.

The Global Brain Training Apps Market is estimated to be valued at US$ 12629.08 Bn in 2024 and is expected to exhibit a CAGR of 14% over the forecast period 2024 to 2031.

With growing usage of smartphones and tablets worldwide, brain training apps are gaining popularity among users to keep their brain agile and productive. The rising awareness about brain fitness is among the major factors contributing to the market growth. Increasing incidence of cognitive diseases like dementia among the geriatric population worldwide is resulting in growing demand for measures to improve cognitive performance through brain training apps.

Key Takeaways

Key players operating in the Brain Training Apps market are BSP International Foundations, MAIT S.p.A., Soilmec S.p.A., Changsha Tianwei Engineering Machinery Manufacturing Co., Ltd., Casagrande Group, DELMAG GmbH & Co. KG, Bauer Group, Junttan Oy, International Construction Equipment, and Liebherr. These key players are focusing on developing more engaging games and exercises targeting different age groups through their apps.

The growing usage of smartphones worldwide and increasing availability of affordable smartphones are fueling the demand for brain training apps. As per statistics, over 60% of the world’s population owns a smartphone presently. Users prefer downloading brain training apps on their phones for easy access while commuting or travelling.

The Brain Training Apps Market Demand is expanding globally with players focusing on different regional markets and launching localized versions of apps in multiple languages. Advancing digitalization and improving internet penetration in developing economies are providing a push to the overall market growth. Entry of international players in developing Asian and Latin American markets will continue to provide new opportunities over the coming years.

Market key Trends

Gamification of brain training exercises is one of the major trends witnessed in this market. Game elements like points, rewards, levels etc. help users in engaging with the brain training apps for longer durations and improved motivation in completing the exercises. This results in better cognitive benefits. With constant innovations, brain training apps are focusing more on personalized recommendations, tailored programs and symptom tracking abilities making the overall experience more user-centric. Integration of augmented reality and virtual reality based games is another emerging trend improving the immersive experience for users.

Porter’s Analysis

Threat of new entrants: The Brain Training Apps market has moderate threat of new entrants due to high hardware, software and marketing costs associated with developing Brain Training Apps.

Bargaining power of buyers: Buyers have low bargaining power in this market as there are many players providing differentiated Brain Training Apps.

Bargaining power of suppliers: The suppliers have low bargaining power in this market as there are many existing and potential suppliers.

Threat of new substitutes: There is always a threat of new Brain Training Apps or alternative methods becoming substitutes. However, switching costs are high for users invested in existing Brain Training Apps.

Competitive rivalry: The competitive rivalry is high among the key global players as the market is growing at a healthy rate.

Geographical Regions

North America region accounts for the largest value share in the Brain Training Apps market owing to the high penetration of smartphones and awareness about brain training. The United States holds the major share in the region.

Asia Pacific region is expected to witness the fastest growth during the forecast period due to the rising disposable incomes, increasing internet penetration and burgeoning demand from countries like India and China. Increasing spend on healthcare and fitness in emerging nations of Asia is driving the market growth in this region.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it.