Brain training apps utilize a variety of scientifically validated techniques and games to help enhance users’ cognitive skills such as memory, attention span, problem-solving and mental wellness. These apps are convenient, engaging tools that allow users to tune their brain functions through regular practice.
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 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The brain training apps market is witnessing significant growth on account of rising focus on mental wellness. Mental health issues have risen substantially in the last few years due to changing lifestyles and increased stress levels. Brain training apps are gaining traction as they help boost cognitive functions and offer mental stimulation which contributes to reduced stress, improved mood and overall mental wellness. Regular use of these apps conditions the brain to function more efficiently through problem-solving puzzles and games. They are particularly helpful for the geriatric population experiencing cognitive decline. As consumers pay more attention to brain health, demand for brain training apps is likely to increase considerably over the forecast period.
SWOT Analysis
Strength: Brain training apps hold the potential to engage users in mentally stimulating activities to improve cognitive abilities. These apps provide personalized training and evaluation to users based on their needs and progression.
Weakness: Most brain training apps focus only on a few cognitive domains like memory, attention, and problem-solving. There is a lack of wide coverage of other important cognitive skills. User adherence and long-term benefits also remain questionable for some apps due to the lack of clinical evidence.
Opportunity: The aging global population and rising prevalence of cognitive decline disorders indicate a huge untapped market for effective brain health solutions. Advances in neuroscience and technologies can help developers create more comprehensive and scientifically validated brain training platforms.
Threats: Only a few brain training apps have demonstrated clear evidence on real-world cognitive benefits through well-designed clinical trials. Established competitors and new entrants may offer more integrated brain health programs threatening the market position of some existing apps. Stringent regulations can also limit the commercial claims of some apps lacking proven efficacy.
Key Takeaways
The global brain training apps market demand is expected to witness high growth on account of the growing geriatric population susceptible to cognitive decline. 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 10% over the forecast period 2023 to 2030.
North America currently dominates the market due to rising incidence of neurological disorders and frequent adoption of digital health technologies in the region. Asia Pacific is anticipated to exhibit the fastest growth in the brain training apps market over the forecast period. This can be attributed to rising disposable incomes, growing health awareness, and increasing penetration of smartphones in developing economies like China and India. Favorable government support for digital health startups is also facilitating the widespread adoption of brain training technologies in the region.
Key players operating in the brain training apps are Argus Control System, Koninklijke Philips NV, Greentech Agro LLC, Biodynamic LLC., General Hydroponics, Inc., Logiqs B.V., Lumigrow, Inc., Hydrofarm Inc., Hydrodynamics International Inc., Heliospectra AB, Village Farms International, Inc., Platinum Produce Company and Millennium Pacific Greenhouses Ltd, and Soave Enterprises LLC.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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