Brain training apps are mobile applications that aim to help improve mental abilities through performance in a variety of cognitive exercises and activities. These include puzzles, math problems, memory tests, language exercises and more that claim to enhance functions like focus, memory, reasoning and problem-solving. Popular brain training apps provide ongoing challenges tailored to users’ performance in short sessions of gameplay. The global brain training apps market has seen rapid growth in recent years driven by rising popularity of cognitive training games and increased usage of smartphones and mobile devices.
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 Dynamics
Increased smartphone and mobile device usage: One of the key drivers fueling the market growth has been rising penetration of smartphones and accessible mobile internet globally. Brain training apps by default are designed for touchscreen mobile platforms which has enabled widespread adoption. As mobile internet access has expanded, people now have these cognitive exercises readily available on their devices for quick and regular practice sessions.
Rising focus on cognitive health and brain fitness: Another major factor driving more people to use brain training apps is increased emphasis on cognitive health and brain fitness. Regular mental workouts delivered via brain games are considered important for maintaining sharpness, similar to physical exercise for the body. As life expectancies grow, preventing cognitive decline in aging has become a health priority for many users.
Segment Analysis
The brain training apps market can be segmented based on platform, application type and age group. The smartphone platform segment dominates the market and accounts for around 70% share as most apps are developed targeting smartphones due to their reach. In terms of application type, memory and attention training apps form the largest segment owing to growing adoption from elder age groups for improving memory. When segmented by age group, the mid-aged (36-59 years) and elder (60+ years) individuals constitute the key segments in terms of active users and revenues for market players. The elder age group segment is expected to witness fastest growth during the forecast period.
PEST Analysis
Political: Governments across regions are focusing on brain fitness initiatives to tackle issues like Alzheimer’s and dementia in aging populations. This is positively impacting the market growth.
Economic: Rising per capita incomes and growing health awareness is driving individuals to spend more on healthcare and wellness apps and services for cognitive training.
Social: Growing social stigma against aging and memory-related diseases is compelling people to actively train their brain and delay cognitive decline. This is boosting the adoption of brain training apps.
Technological: Advancements in technologies like augmented reality, virtual reality and artificial intelligence are enabling development of more engaging and effective brain training solutions. This is expanding the functionalities and use cases of apps.
Key Takeaways
The Global Brain Training Apps Market Size is expected to witness high growth over the forecast period supported by rapid digitalization and increasing health consciousness. 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.
The North American region currently dominates the market attributed to high smartphone penetration and significant investments by players. The Asia Pacific region is predicted to be the fastest growing market due to large consumer base and growing health expenditures 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. Major players are focused on product differentiation and new features through continuous innovation. They are also expanding in emerging markets through partnerships and acquisitions. These players are investing heavily in R&D to develop more comprehensive and personalized brain training solutions. They also adopt strategies like new product launches, collaborations and mergers & acquisitions to strengthen their market position.
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