The new report by Expert Market Research titled, 'Global Cognitive Enhancement Wearable Technology Market Report and Forecast 2021-2026', gives an in-depth analysis of the global cognitive enhancement wearable technology market, assessing the market based on its segments like device type, technology, type, distribution channel, and major regions like Asia Pacific, Europe, North America, Middle East and Africa and Latin America. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2021-2026)
- Historical Market Size (2020): USD 59 Billion
- Forecast CAGR (2021-2026): 17%
- Forecast Market Size (2026): USD 151 Billion
The growth of cognitive enhancement wearable technology is primarily driven by rising prevalence of neurological disorder such as depression, sleep disorders, and anxiety. The utilisation of neuromodulation devices along with conventional therapies are expected to push the growth for cognitive enhancement we in the forecast period. Further, the increasing demand from sports industry is expected to propel the growth of the market. However, the lack of peer reviewed research and ethical issues may constrain the growth in the forecast period.
Industry Definition and Major Segments
Cognitive enhancement wearable technology includes equipment such as cap, head set or band which helps in improving the brain functions such as attention, concentration, and information processing. The cognitive enhancement wearable technology is also helpful in mood disorders, speel quality and general wellness.
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On the basis of technology, industry is segmented into:
- Electroencephalogram (EEG)
- Transcranial Direct Current Stimulation (tDCS)
Based on device type, the market is divided into:
- Audio Headset
- Head Bands
- Head Cap
The industry is classified on the grounds of type into:
The distribution channel for market is categorised into:
On the basis of regional markets, the industry is divided into:
1 North America
1.1 United States of America
2.2 United Kingdom
3 Asia Pacific
4 Latin America
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
Regionally, North America and Europe are the largest shareholders in global cognitive enhancement wearable technology market regions due to presence of key players in the regions. Further, high disposable income and technical awareness of the populace is expected to aid in the growth of the regional market. Meanwhile, Asia Pacific is projected for significant growth in the forecast period, owing to factors such as, rapid growing economic development, increasing technological advancements and expanding geriatric population.
Key Market Players
The major players in the market are Halo Neuro, Inc., Sooma Oy, InteraXon Inc. (Muse), Melomind, FocusBand Technologies, Neuro Management LLC, and a few others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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