London, 26 June 2015: Technavio, the independent tech-focused global research firm, has published a report on the global cognitive assessment and training market 2015-2019, which is expected to grow at a CAGR of 15.27% during the forecast period of 2014-2019.
The education market is expected to contribute heavily to the overall growth of the cognitive assessment and training market. Privatization of educational institutions coupled with the parents’ demand for better quality education has forced vendors to promote capability tests to help children lean effectively. Also, government initiatives pertaining to mental well-being are boosting the market for cognitive assessments.
“The increasing level of competition among vendors is exerting pricing pressure. As a result, they have to find new ways to sell their products in the market. Many vendors are providing cognitive assessment services along with other services, such as achievement assessment, to attract a large number of customers,” says Faisal Ghaus, Vice President of Technavio.
“They are also bundling services similar to cognitive assessments that facilitate an understanding of the learning profiles of students. Such strategies encourage further segmentation and target customers who seek customized services.”
Key Market Drivers:
- Emphasis on Quality Education.
- Increased Partnerships by Vendors.
- Rise in Investments.
- Population Growth in Emerging Economies.
Key Market Trends:
- Standardization of Tests.
- Improved Accessibility of Tests.
- Product Bundling.
Key Market Vendors:
- Bracket Global LLC
- Cambridge Cognition Ltd.
- ImPACT Applications Inc.
- Posit Science Corp.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
