Neuromarketing Technology Market Is Anticipated To Grow at a 8.90% CAGR To Reach About USD 3.19 Billion By 2030
Research Reports
Sep 14, 2023
Market Research Future Highlights:
The global Neuromarketing technology market is accounted to register a CAGR of 8.90% during the forecast period and is estimated to reach USD 3.19 Billion by 2030. In order to identify and analyse consumer behaviour and perception based on cognitive and emotional responses to marketing inducements, a practise known as neuromarketing applies neuroscience to routine market operations. Finding out how the target market might respond to the introduction of a new product is the first step in the neuromarketing process. Neuroscience is helpful in examining and researching consumer perceptions, and it has significantly improved predictions of consumer behaviour. Organisations engaged in research and marketing can narrow their focus and customise their offerings to better serve their clientele thanks to neuroscience.
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Neuroscience can be used to access the customer’s brain processes and develop accurate product placement. Most businesses employ a variety of technologies, including functional magnetic resonance imaging (fMRI), electroencephalography (EEG), eye tracking, positron emission tomography (PET), and magnetoencephalography (MEG), to determine customer purchase decisions. However, significant organisations in the information technology sector, like Google Inc. (US), Neilsen Company LLC (US), CBS, Frito-Lay, and A&E Television, have employed neuromarketing research approaches to assess consumer behaviour for their specific products. On the other hand, the market for neuromarketing technology is anticipated to grow due to the increased interest in studying consumer behaviour.
On the other hand, it’s anticipated that the attraction of neuromarketing technology will be constrained throughout the review period due to the installation cost, mobility concerns, and the regulatory bodies’ ongoing revision of biometric legislation.
Key Companies in the Esports Market:
Neuromarketing Technology Market Top Leaders
- Css/Data intelligence (U.S.)
- Behavior and Brain Lab (Italy)
- Merchant Mechanics (U.S.)
- Neural Sense (South Africa)
- Neurospire Inc. (U.S.)
- The Neilsen Company LLC, (U.S.)
- Nviso (Switzerland)
- Olson Zaltman Associates (U.S.)
- Sensomotoric Instruments GMBH (Germany)
- Sr Labs (Italy)
- Synetiq Ltd. (Budapest)
- Cadwell Industries Inc. (U.S.)
- SR Research (Canada)
- Compumedics Limited (Australia)
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Description of segments:
The technology market for neuromarketing is divided into segments based on technology, solutions, end users, and geographical regions. During the forecast period, a respectable growth rate is anticipated for the worldwide neuromarketing technology market.
The functional magnetic resonance imaging (fMRI), electroencephalography (EEG), eye tracking, positron emission tomography (PET), and magnetoencephalography segments of the neuromarketing technology market are based on application.
The neuromarketing technology market is divided into retail, healthcare, food and beverage, and consumer electronics based on the propulsion kinds.
The five geographical divisions of neuromarketing technology are North America, Asia Pacific, Europe, and the Rest of the World. The North American region is anticipated to lead the neuromarketing technology market. The United States is the most powerful nation in this region. The main factors causing the neuromarketing technology market share to increase over the forecast period are the availability of a large number of solution providers and increased investment in the field of neuroscience.
North America is anticipated to play a prominent role in the neuromarketing technology market during the forecasted period. The United States is the top nation in the region due to an increase in the number of companies offering neuroscience technology solutions. On the other hand, the United States has a highly established technical infrastructure that has led to early technology adoption and compelled many businesses to successfully investigate consumer behaviour.
Regional Classification:
North America is likely to dominate the neuromarketing technology sector. The United States is the most powerful country in this area. The presence of a large number of solution providers, as well as increased investment in the field of neuroscience, are the primary driving factors for the neuromarketing technology market share to grow throughout the forecast period.
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North America is expected to be a key region in the neuromarketing technology market over the forecast period. The United States is the region’s top country due to an increase in the number of solution suppliers of neuroscience technology. The United States, on the other hand, has a highly developed technological infrastructure that has driven various corporations to successfully research client behavior. Because of these factors, the neuromarketing technology industry is likely to be driven between 2017 and 2023. The neuromarketing technology sector in Europe is predicted to grow dramatically during the next few years.
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