The brain training apps market is estimated to be valued at US$ 30,511.9 Million in 2031

A newly published report by Coherent Market Insights reveals a sustainable growth opportunity in the brain training apps market. Coherent Market Insights’ analyst projected the brain training apps market to be valued at US$ 30,511.9 Mn in 2031.  It is expected to exhibit a CAGR of 23.0% over the forecast period 2024 -2031, as highlighted in a new report published by Coherent Market Insights.

The increasing worldwide geriatric population continues to lead the growth for brain training applications. According to the United Nations, the total world population that was 60 years or more stood at 962 million in 2017. It continues to grow and is expected to reach nearly 2.1 billion by 2050.

Brain training apps provide a range of mini-games and exercises to keep the brain active and enhanced. The increasing technological penetration via smartphones and accessible internet is making these apps more affordable and viable options for cognitive training among older adults. In addition, growing awareness about the importance of brain and memory fitness is encouraging the adoption of such apps.

Key market trends include:  Major market trends are as follows: Introduction of gamification elements and augmented reality/virtual reality capabilities in brain training apps have been a major trend shaping industry dynamics. Gamification is the application of game mechanics and game design techniques in non-game contexts in order to engage and motivate users. The integration of leaderboards, achievements, levels, and other game components has made brain training enjoyable, thereby leading to greater user retention and satisfaction levels.

On similar lines, AR and VR solutions enhance the experience of brain training with higher immersion and interactivity.

Brain Training Apps Market Opportunities: The memory and skill building apps segment is expected to hold a substantial share of the brain training apps market during the forecast period. These apps are designed to improve memory, attention, problem-solving abilities, and other cognitive skills through fun games and activities. Launch of novel innovations like gamified brain training programs with adaptive difficulty and performance tracking is further propelling the growth of this segment.

Meditation apps are gaining widespread popularity for managing stress and promoting mental well-being. These apps guide users through different meditation techniques like mindfulness meditation, breathing exercises, body scans, and more. Growing health consciousness amid rising stress levels is raising uptake of meditation apps that can help relax the mind and reduce anxiety. Increasing usage of wearable devices integrated with meditation apps is also expected to boost the growth of this segment during the forecast period.

Key Market Takeaways: The global brain training apps market size is anticipated to witness a CAGR of 23.0% during the forecast period 2024-2031. This is owing to growing adoption of brain fitness programs to keep the mind engaged as people age.

On the basis of product type, memory and skill building apps segment is expected to hold a dominant position. This is owing to increasing awareness about cognitive benefits of brain training programs.

On the basis of region, North America is expected to hold a dominant position over the forecast period. This is due to high mobile penetration and emphasis on brain fitness.

Competitor Insights: Key players operating in the brain training apps market include CogniFit, Elevate, Peak, Rosetta Stone Ltd., LearningRx, Lumosity, HAPPY neuron, Inc., Wise Therapeutics, Inc., Easybrain and Happify, Inc.

Recent Developments: In 2016, Lumos Labs agreed to pay US$ 2 million in a settlement with the Federal Trade Commission, which accused the company of misleading individuals with claims that their games might help them become smarter or avoid memory loss. More information in full report