by The brain training apps industry has significantly grown in recent years due to rising adoption of digital technologies. Brain training apps provide a wide range of cognitive exercises and activities to help users improve their memory, problem-solving skills, attention span and make mind sharper. Some key features of brain training apps include virtual coaching, performance tracking, personalized recommendations and gamification elements to engage users.
The Global Brain Training Apps Market is estimated to be valued at US$ 12629.08 Billion in 2024 and is expected to exhibit a CAGR of 14% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Brain Training Apps Market are BSP International Foundations, MAIT S.p.A., Soilmec S.p.A., Changsha Tianwei Engineering Machinery Manufacturing Co., Ltd., Casagrande Group, DELMAG GmbH & Co. KG, Bauer Group, Junttan Oy, International Construction Equipment, and Liebherr.
The rising awareness regarding benefits of Brain Training Apps Market Size and increased risk of neurological disorders has boosted the demand for efficient brain training apps. Many companies are focusing on expanding their regional presence and launching personalized brain training programs to cater to the growing needs of users across different age groups and backgrounds.
Growing demand in the market
The increasing popularity of mobile gaming and on-the-go cognitive exercise routines has significantly boosted the adoption of brain training apps. As per a survey, over 40% of users reported witness improvements in concentration levels and problem-solving abilities after regularly using brain training apps for 4-6 weeks. Many app developers are offering attractive subscription plans and bundles to encourage long-term usage.
Global expansion of the market
Geographically, the North American region dominates the brain training apps market due to high mobile penetration and awareness regarding benefits of cognitive training programs. However, Asia Pacific is expected to exhibit fastest growth during the forecast period due to rising health consciousness and increasing rate of internet adoption in developing countries. Many international players are entering partnerships with local cognitive assessment companies for cooperative launches of customized brain training content and games.
Market key trends
One of the key trends gaining popularity in the Brain Training Apps Market is the integration of AR/VR capabilities. Developers are leveraging augmented and virtual reality technologies to create immersive brain training experiences that feel more like video games for increased user engagement. Gamified brain training routines involving problem-solving in 3D virtual environments are known to deliver better results compared to traditional 2D exercises. This trend is expected to accelerate over the coming years as VR/AR technologies evolve further.
Porter’s Analysis
Threat of new entrants: High capital requirements for developing brain training apps make the threat of new entrants low in this market.
Bargaining power of buyers: Individual buyers have high bargaining power in this market as there are numerous brain training apps available.
Bargaining power of suppliers: The apps market depends on software developers as key suppliers with differentiated products making their bargaining power high.
Threat of new substitutes: new alternatives like mobile games and online courses pose threat of substitution to some extent.
Competitive rivalry: Intense competition exists between major established players in this market.
Geographic regions: North America accounts for the largest share of the brain training apps market currently both in terms of value as well as volume. Factors such as increasing awareness about brain training, fast adoption of new technologies and busy lifestyle driving the demand in this region.
Asia Pacific is poised to be the fastest growing regional market for brain training apps during the forecast period. Increasing health consciousness, growing middle class population and higher penetration of smartphones in countries like China and India provide immense growth opportunities.
*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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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
