Brain training apps market

The brain training apps are designed to improve memory, thinking skills, cognitive capacity, focus, reasoning, and overall intellect, with the ultimate goal of improving the performance of important everyday tasks. The brain training apps offer scientifically validated tasks and turns them into fun games, actionable feedback, and rich insights into human cognition. For instance, Lumosity is one of the world's popular brain training app used by over 100 million members worldwide. This popular brain games app offers 5-minutes workouts designed on the basis of neuroscience research. This brain training app consists of science-based games designed to train exercise memory, speed, attention, flexibility, and problem-solving. The activities in Lumosity Brain Trainer App were designed by top neuroscientists to improve players' Brain Performance Index (BPI). The simple games tap into cognitive processes like speed, attention, memory, flexibility, and problem solving. Lumosity promotes greater relaxation and focus with mindfulness. Additionally, Elevate Labs offers Elevate - Brain Training App which provides personalized training program to improve focus, cognitive skills, and processing speed. This brain training app includes more than 40 games intended to boost productivity, self-confidence, and learning ability. By focusing on math, articulation, writing, reading, and listening, the games help to enhance the ability to communicate with others.

Lack of scientific research is one of the major factors hampering the growth of the market. There are several companies in the market that develop brain training apps with lack of proper research and expert advice, and claims to be effective for cognitive assessment. For instance, in 2016, Lumos Labs agreed to pay US$ 2 million in a settlement with the Federal Trade Commission, which accused the labs of deceiving people with claims that their games could help them get smarter or avoid memory loss.

Additionally, lack of awareness about brain training apps is also hampering growth of the market. High dependency on traditional assessment methods such as pen and paper-based assessment methods, is one of the restraining factors for the growth of brain training apps market.

North America held dominant position in the global Brain Training Apps market in 2020

Statistics:

North America held dominant position in the global Brain Training Apps market in 2020, accounting for 31.8% share in terms of value, followed by Europe and Asia Pacific.

Figure 1: Global Brain Training Apps Market Share (%), By Region, 2020

Owing to presence of various market players the U.S. accounted for 76.5% share in North America Brain Training Apps market in 2020 and is projected to retain its dominance during the forecast period. Furthermore, owing to increasing merger & acquisition and collaboration activities by market players in order to strengthen its position in the global market. For instance, In November 2020, Rosetta Stone Ltd. announced partnership with Navajo Language Renaissance, a U.S.-based nonprofit organization that is working to revitalize the Navajo language using Rosetta Stone software. Through this partnership, the companies launched Rosetta Stone Navajo Language app to assist parents to have access to program to help their children to learn Navajo at home and at school.

Visual/spatial segment is expected to drive the market growth during the forecast period

On the basis of app type, the global brain training apps market is segmented into memory, attention, language, executive function, visual/spatial, and others.

Visual skill games are made of different games which help to improve visual ability and train visual-spatial skills. The games are developed for all age groups. One such example is Train your Brain - Visuospatial Games. The game is available on android platform and consists of different types of games such as locate an objective number within a numerical range, repeat symmetrical patterns, puzzles and shapes, and others to improve player’s visual ability and train visual-spatial skills.

Figure 2: Global Brain Training Apps Market Value (US$ Mn) Analysis and Forecast, 2017 - 2027

The global Brain Training Apps market was valued at US$ 5,891.2 Mn in 2020 and is expected to reach US$  30,511.9 Mn by 2028 at a CAGR of 23.0% between 2021 and 2028.

Major players operating in the global Brain Training Apps market include CogniFit, Elevate, Peak, Rosetta Stone Ltd.m, earningRx, Lumosity, HAPPYneuron, Inc., Wise Therapeutics, Inc., Easybrain and Happify, Inc.