Neuromarketing technology is widely used in different verticals such as healthcare, retail, food & beverage, and consumer electronics. The intense market competition encourages the business organizations to improve their communication and strengthen their perceptions of consumer behavior. Additionally, with the advent of technology and rising e-commerce sector, consumers are pretty much sensitive for the selection of products which gives neuro marketers a wider scope to improve the e-communication and m-communication to make effective advertisement in social media, internet sites as well as blogs.
Mostly consumers are deeply influenced by the packaging and color of the products, and advertising campaigns. Therefore, various techniques are used to determine the consumer behavior such as functional magnetic resonance imaging (fMRI), electroencephalography (EEG), Eye tracking, Positron emission tomography (PET), and magneto encephalography (MEG). Additionally, fMRI and EEG techniques are widely used by the companies to achieve better and effective predictive results of consumer behavior. However, the installation cost and mobility concerns are the major challenging factors for neuromarketing technology market over the forecast period
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Major Key Players
Css/Data intelligence (U.S.),
Merchant Mechanics (U.S.),
Cadwell Industries Inc.(U.S.),
Neural Sense (South Africa),
Neurospire Inc. (U.S.),
The Neilsen Company LLC, (U.S.),
Olson Zaltman Associates (U.S.),
Behavior and Brain Lab (Italy),
Sensomotoric Instruments GMBH (Germany), Sr Labs (Italy), Synetiq Ltd. (Budapest), SR Research ( Canada), and Compumedics Limited (Australia)
According to MRFR, The global Neuromarketing technology Market is expected to reach USD 100 million by 2023 growing at a 12% CAGR over the forecast period 2017-2023.
Furthermore, neuroscience technologies associated with conventional methods enable the brand companies to interpret the consumers’ conscious and non-conscious affection stimuli, attentional patterns, memory activations and attentional patterns, which encourage to analyze the complex thought process of the consumer with respect to tastes and preferences.
Geographically, the neuromarketing technology is segmented into five different regions namely North America, Asia Pacific, Europe, and the Rest of the World.
North America is presumed to be the dominating region in neuromarketing technology market. The U.S. is the leading country in this region. However, increasing investment in the field of neuro science and presence of a large number of solution providers are the major driving factors for the neuro marketing technology market to grow over the forecast period. Europe and Asia Pacific are also anticipated to have a significant growth in neuromarketing technology. The U.K is expected to be a prominent country in the European region owing to rise in economic development over the review period.
The neuromarketing technology has been categorized into technology, solutions and end user.
Based on the technology, the neuromarketing technology is sub divided into functional magnetic resonance imaging (fMRI), electroencephalography (EEG), Eye tracking, Positron emission tomography (PET), and magneto encephalography (MEG). Additionally, solutions segment is subcategorized into customer experience, people engagement, and product development. Furthermore, Neuromarketing technology is further divided on the basis of end user that includes retail, healthcare, food & beverage, and consumer electronics.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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- Research Firms.
- Government Agencies
- Neuromarketing technology manufacturers.
- Wearable smart device and accessories manufacturers.
- Military and security systems and equipment manufacturers.
- Multimedia marketing and gaming industries.
- Cloud services, big data services and internet service providers.
- Multimedia and video content developers.
- Branding, product and services marketing industries
TABLE OF CONTENTS
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
LIST OF TABLES
Table1 World Population by Major Regions (2017 To 2023)
Table2 Global Neuromarketing Technology Market: By Region, 2017-2023
Table3 North America Neuromarketing Technology Market: By Country, 2017-2023
LIST OF FIGURES
FIGURE 1 Global Neuromarketing Technology Market segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis of Global Neuromarketing Technology Market
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