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 technology, device type, type, distribution channel, and major regions. 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 (2016-2026)
- Historical Market Size (2020): USD 59 Billion (Wearable Technology Market)
- Forecast CAGR (2021-2026): 17% (Wearable Technology Market)
The wearable technology for cognitive enhancement promises many benefits including help in treatment of neurological disorders and enhancing the functional capabilities of the users. The products can measure the brain activity of users and help in evaluating the performance in diverse fields such as sports and games. The technology is also said to help users learn new skills such as playing guitar. The rising disorders such as lack of quality sleep, depression, erratic mood, and anxiety can also be controlled with the aid of wearable technology. The new products also claim to improve the memory and attention of users which will propel the market demand.
Industry Definition and Major Segments
The wearable technology for cognitive enhancement is used in devices that are used for stimulating or recording brain functions. They can be easily worn by the users as a band or cap and enhance the brain functions including memory, information analysis and mediation or concentration. The technology is also useful for some neurological disorders.
Based on technology, industry is categorised into:
- Electroencephalogram (EEG)
- Transcranial Direct Current Stimulation (tDCS)
- Others
On the grounds of device type, the market is divided into:
- Audio Headset
- Head Bands
- Head Cap
- Others
The industry is segmented on the basis of type into:
- Battery
- Charge
The distribution channels for market are classified into:
- Offline
- Online
The report also covers the regional cognitive enhancement wearable technology markets like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Market Trend
The market for cognitive enhancement wearable technology is being propelled by the rising geriatric population and high expenditure on latest technology in the developed nations. The developing nations such as India and China also have great potential for the demand because of their increasing disposable income and urbanization of the continuously growing population. With the better of exposure of cognitive enhancement wearable technology through social media, the market demand will accelerate rapidly. The key players have heavy investing in their research and development activities for improvements in technology and innovative solutions which will further bolster the growth of the industry.
Explore the full report :https://www.expertmarketresearch.com/reports/cognitive-enhancement-wearable-technology-market
Key Market Players
The major players in the market are Halo Neuro, Inc, Sooma Oy, InteraXon Inc. (Muse), Melomind, FocusBand Technologies, and Neuro Management LLC, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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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