Mobile Games Is The Largest Segment Driving The Growth Of Brain...

Mobile Games Is The Largest Segment Driving The Growth Of Brain Training Apps Market

Posted 2023-11-16 14:49:06

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 Overview:
Brain training apps involve simple exercises and activities that help enhance memory, attention, problem-solving and other cognitive abilities. These app-based programs train the user’s brain similar to the way physical activity trains the body.

Market key trends:
The growing awareness about brain fitness and cognitive decline due to aging is driving increased adoption of brain training apps. Rising preference for mobile-based brain training programs over other methods is also fueling market growth. Furthermore, continuous technological advancements have made brain training apps more engaging, accessible and effective. Gamification of brain training where cognitive exercises are wrapped in video game format is another key trend gaining popularity among users. Introduction of virtual reality and augmented reality based brain training is also an emerging trend in the market.

Market key trends:
One of the key trends in the brain training apps market is the growing adoption of gamification and social elements in brain training activities. By incorporating elements of games such as scoring systems, levels, challenges, and rewards, brain training apps are able to make the learning process more engaging and fun for users. Many popular apps also allow users to compete and compare scores with friends and other users on leaderboards, further driving engagement. Gamified brain training helps motivate users to stick with brain exercises over the long run to reap the cognitive benefits.

SWOT Analysis
Strengths: Brain training apps provide a convenient, portable and affordable way for users to boost cognitive skills anywhere and anytime via their smartphones and tablets. They allow personalized training programs tailored to individual needs and skills.
Weaknesses: The effectiveness of some brain training apps in delivering long term cognitive benefits is still being researched. Not all users have the patience or motivation for regular brain training.
Opportunities: Rising health awareness and growing geriatric population prone to dementia and Alzheimer’s present a vast market potential. Integration of AR/VR and other new technologies can make training more immersive and engaging.
Threats: Lack of clinical evidence and regulations in the brain health sector raise doubts on product claims. Stringent guidelines and standards may impose challenges on app developers.

Key Takeaways
The Global Brain Training Apps Market Demand is expected to witness high growth, exhibiting CAGR of 23% over the forecast period, due to increasing health awareness among consumers about brain fitness and cognitive decline prevention.

Regionally, the North America brain training apps market accounts for the largest share currently due to sedentary lifestyle and increasing cognitive disorders. Asia Pacific is expected to be the fastest growing market owing to rapidly aging populations in countries like China and India.

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. The market is characterized by intense competition among these major companies, small startups and independent app developers. Players are focusing on product innovation, personalization and integration with other digital technologies to gain market share.