The Global Brain Training Apps Market is estimated to reach over USD 44.43 Billion by 2030, exhibiting a CAGR of 24.2% during the forecast period.
The brain training applications are intended to improve memory, thinking abilities, cognitive capacity, focus, reasoning, and overall intelligence, to boost performance on crucial daily tasks. Scientifically approved exercises are transformed into enjoyable games, useful feedback, and extensive insights into human cognition in the brain training apps. The market has had great success selling the product, and several companies have released items aimed at promoting healthy ageing in general. Augmented reality is being used in classrooms to make studying more enjoyable for children, and the results are amazing. In this technology-driven environment, interactive AR games can assist children in grasping concepts at their own pace. Children can benefit from augmented reality-based brain games to help them learn, pay attention, and process information faster. As a result, incorporating augmented reality into brain training apps will give this market more growth potential. However, a lack of awareness regarding brain training applications may hinder market growth over the foreseeable period.
Additionally, rising R&D efforts, government initiatives to employ sustainable components in manufacturing, and investments by major players are expected to create lucrative revenue possibilities for players in the global brain training apps market over the forecast period.
The brain training apps market is segmented based on app type and end-user type. Based on app type, the market is segmented as Memory, Attention, Language, Executive Function, Visual/spatial, and Other App Types. Based on end-user, the market is segmented into Android, iOS and Other User Types.
Based on product, the android segment is a major contributor to the brain training apps market.
The android category is expected to hold a major share in the global brain training apps market in 2021. The market has seen remarkable growth in recent years, owing to an increase in the number of smartphone and tablet users and an increase in the demand for wearable devices, which is one of the key causes for the rise of the global market. Additionally, the market will be driven by increased internet penetration and increasing app profitability. The market will be driven by the large number of Android mobile users, particularly in developing countries.
Visual segment witness growth at a rapid rate
The Visual segment is projected to grow at a rapid rate in the global brain training apps market over the upcoming years. Visual skill games are a set of games that aid in developing visual abilities and training visual-spatial skills. The games are designed for people of all ages. Train your Brain - Visuospatial Games is one such example. The game is available on the Android platform and includes a variety of games to develop player's visual capacity and teach visual-spatial skills, such as identifying an objective number within a numerical range, repeating symmetrical patterns, puzzles and forms, and others., especially in countries such as the US, Germany, UK, China, and India.
The North America brain training apps market holds a significant regional revenue share.
The North American brain training apps market is expected to register the highest market share in revenue soon due to the rising demand for new mobile application technologies, which is expected to infuse market growth tremendously. Moreover, the presence of key market players and increasing collaboration among major players for market penetration in the region provides the opportunity to expand the global Brain Training Apps market over the upcoming years.
In addition, Asia Pacific is projected to proliferate in the global brain training apps market due to increased scientific research across the region. Due to growing concerns about the environment, rapid industrialization, government initiatives, and increasing funding in various industries.
The key players in the brain training apps market have shifted their focus towards bio-based components for product manufacturing and are initiating significant strategies such as mergers, acquisitions, and joint ventures of major and domestic players to enhance product portfolio and strengthen their market footprint across the globe. Some of the major key players in the brain training apps market are Confit, Elevate, Peak, Rosetta Stone Ltd., earning, Lumosity, HAPPY neuron, Inc., Wise Therapeutics, Inc., Easy brain and Happify, Inc.