Brain Fitness Market: Overview
The brain fitness market may gain extensive growth opportunities across the forecast period of 2020-2030 on the back of the growing prevalence of mental disorders around the world. The escalating geriatric population is also an ideal growth indicator for the brain fitness market. With aging, a person’s cognitive thinking abilities deteriorate. This is when brain fitness comes into the picture. The heightening increase in incidences of memory loss, brain injury, learning disorders, ADHD, and others may also bring considerable growth for the brain fitness market.
The global brain fitness market can be segmented into software, brain training tools, and others in terms of product. On the basis of type, the brain fitness market can be classified into visual brain fitness training, cognitive brain fitness training, biofeedback brain fitness training, and others.
This report provides an extensive analysis of the factors inviting immense growth opportunities for the brain fitness market. The report also focuses on growth parameters such as competitive landscape, key trends, regional assessment, etc. The study helps the stakeholders to grasp the diverse growth factors of the brain fitness market conscientiously. The report also brings substantial information about the COVID-19 impact on the brain fitness market.
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Brain Fitness Market: Competitive Analysis
The manufacturers in the brain fitness market are developing devices that are in tandem with modern technological advancements. From percussive therapy to electrical muscle simulations (EMS), the manufacturers in the brain fitness market try to inculcate every technological aspect that helps in boosting sales. Government support in terms of encouraging mental health improvements through various initiatives also serves as great growth generators for the brain fitness market.
Some well-established players in the brain fitness market are Synaptikon GmbH, SMARTfit Inc., CNS Vital Signs, NovaVision, Lumos Labs, Inc., MyBrainTrainer, Cogmed, BrainHQ, Advanced Brain Technologies, and others.
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Brain Fitness Market: Emerging Role of Startups in Growth Contribution
The heightening influence of technological advancements has led to the discovery of novel devices and mechanisms supporting brain fitness. Many startups are introducing novel products and services that help the populace to tackle mental stress. Here are some startups and the type of products and services they offer.
Psious: With a finding of €10.1 mn, Psious offers a mobile-based technology made by psychologists that creates hyper-realistic virtual environments. This platform helps in tackling anxiety disorders through virtual exposure therapy.
Lyra: This U.S.-based startup is promoting brain fitness through serving as a medium between various companies and their employees to mental health providers.
Urgotech: Founded in 2015, Urgotech explores technological innovations for a good brain fitness experience. It recently introduced a padded headband known as Urgonight that uses neurofeedback therapy to display a real-time display of the brain activity. The device also connects to an app and teaches to control the brain waves that impact sleep.
Brain Fitness Market: Growth Perspectives
Due to the emergence of the novel coronavirus pandemic and the losses incurred due to it, brain fitness has become more important than ever. Therefore, this aspect can assure promising growth for the brain fitness market through the forecast period of 2020-2030. Technology has made great leaps over time across the brain fitness market. Along with e-consultations and online treatment, the players in the brain fitness market are also developing state-of-the-art devices to offer exceptional convenience to the consumer. Thus, this factor rings bells of growth through the brain fitness market.
Brain Fitness Market: Regional Insights
The brain fitness market is geographically segmented into North America, Latin America, the Middle East and Africa, Asia Pacific, and Europe. North America may hold the largest market share across the assessment period due to the growing prevalence of neurological disorders. The baby boomer population is also bringing tremendous growth for the brain fitness market.
Asia Pacific may also garner good growth across the forecast period due to the rising disposable income and the growing awareness about mental health.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.