Market Highlights:
Neuromarketing is the incorporation of neuroscience with day to day market activities in order to identify and study consumer behavior and perception, based on cognitive and affective response to marketing inducements. The first step of neuromarketing includes the accumulation of information about how the target market would respond if a new product penetrates the market.
The global Neuromarketing technology market has always been consumer-driven. Just staying afloat or being one of the super league players depends on the knowledge of consumer pulse and making decisions accordingly. Neuromarketing technology is the answer. It is a detailed analysis of the consumer behavior pattern that gives a comprehensive understanding of how the market is going to react in coming days. The technology incorporates scientific methods where cognitive and affective response plays pivotal roles. The market is so lucrative that major companies are investing a significant share in such researches to understand consumer patterns and devise products accordingly. The global neuromarketing technology research market is expecting a boom where it can attain a stellar CAGR of 12% during the forecast period (2017-2023) with an eye on USD 100 million valuation. Market Research Future’s (MRFR) report on the said market takes an all-integrated look to reveal precise pointers that can assist in making better predictions.
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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.),
- Nviso (Switzerland),
- Olson Zaltman Associates (U.S.),
- Behavior and Brain Lab (Italy),
- Sensomotoric Instruments GMBH (Germany),
- Sr Labs (Italy),
- Synetiq Ltd. (Budapest),
- SR Research ( Canada),
- 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.
Market Competition:
The market is showing tremendous prospect as many key players of great repute from the diverse field are investing much which is taking the market ahead. Remarkable contributions made by heavyweight corporates and IT firms such as Google Inc. (U.S.), Neilsen Company LLC. (U.S.), CBS, Frito-lay and A & E television can be considered exemplary, and they have implemented neuromarketing research techniques to measure consumer behavior for their respective products.
Regional Analysis:
Region-specific segmentation of the market includes namely North America, Asia Pacific (APAC), Europe, and the Rest-of-the-World (RoW).
North America holds the maximum share of the revenue generated worldwide. The U.S. dominates the region with a substantial percentage. Heavy investment has been made in the field of neuroscience by various market influencers, and the presence of a large number of solution providers are expected to boost the market considerably. The APAC and Europe are expected to register significant growth. The U.K. is expected to generate a weighty share owing to which European market can rise.
Segmentation:
The global neuromarketing technology research market can be segmented by technology, solution, and end-user.
Based on technology, the market is sub-segmented into functional magnetic resonance imaging (fMRI), electroencephalography (EEG), eye tracking, positron emission tomography (PET), and magnetoencephalography (MEG).
Solution-wise the market can be segmented into customer experience, people engagement, and product development.
On the basis of end user that includes retail, healthcare, food & beverage, and consumer electronics.
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Intended Audience:
- 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
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
Continued….
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
FIGURE 4 Value Chain of Global Neuromarketing Technology Market
FIGURE 5 Share of Global Neuromarketing Technology Market in 2017, by country (in %)
Continued….
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