WASHINGTON: The growth rate for Digital Cognitive Fitness products in the US is 17.1% and revenues will more than double to $2.8 billion by 2022, up from the $1.2 billion reached in 2017, according to the new report by Metaari called ” The 2017-2022 U.S. Digital Cognitive Fitness Market.” In general, Digital Cognitive Fitness products can be divided into two broad categories: products designed to improve cognitive functions in relatively healthy people and products designed to mitigate cognitive deficiencies caused by mental health problems, addiction, disability, or traumatic injury.
“There are several primary and secondary catalysts driving the Cognitive Fitness market in the US,” reports Sam S. Adkins, Metaari’s Chief Researcher and author of the report. “The market is now in the midst of profound innovation and disruption. New startups are launching advanced products based on virtual reality, augmented reality, artificial reality, and neuroscience at a steady rate and venture capital is flowing to these new companies.” There are seven major catalysts in the US Cognitive Fitness market including a steady of flow of next-generation products coming on the market, Artificial Intelligence and cognitive computing innovations, a growing number of products that integrate virtual reality (VR), a wide range of new products designed for children with special needs, and the rapid adoption of mental training apps in the sports world.
“The new cognitive learning products that utilize artificial intelligence platforms such as the cognitive computing platform IBM Watson are fundamentally new types of learning technologies that require a completely different set of developer skills compared to legacy products,” comments Adkins. “Most of the successful commercial game-based braining training products target specific cognitive abilities with well-designed tasks empirically proven to improve those abilities.” There are two sections in this report: a demand side-analysis and a supply-side analysis. The demand-side analysis breaks out five-year revenues forecasts for six buying segments: consumers, PreK-12 schools, higher education institutions, corporations & businesses, federal government agencies, and state & local government agencies. The supply-side analysis includes a revenue breakout by seven types of Cognitive Fitness products: cognitive edugames & brain trainers, mental training apps for athletes, mindfulness apps, products for children with special needs, digital mental health treatment products, digital addiction intervention products & services, and cognitive disability therapy products. “The barriers-to-entry for new Cognitive Fitness companies are now quite high as very sophisticated products continue to come on the market,” adds Adkins. “These new products integrate cutting-edge neuroscience and biotechnology. Many of the therapeutic products have been developed in partnerships with clinical specialists and those products tend to command high price points.”
