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.
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https://www.newswirestats.com/brain-training-apps-market-size-share-growth-outlook-forecast-2023/
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