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Neuromarketing Solutions Market

Neuromarketing solutions Market by Technology & Region - Forecast 2022 - 2032

Market Insights on Neuromarketing Solutions covering sales outlook, demand forecast & up-to-date key trends

Neuromarketing solutions Market Outlook (2022-2032)

[310 Pages Report] The neuromarketing solutions market is anticipated to have a steady CAGR of 7.5% during 2022-2032.

The neuromarketing solutions market share is predicted to grow from US$ 1.6 Billion in 2022 to US$ 3.2 Billion in 2032. Previously, the market was thriving at a higher CAGR of 8.1% (2016-2021), resulting in a market size of US$ 1.4 Billion in 2021.

The use of neuromarketing in media, advertising, and telecommunication has exploded in popularity in recent years. Several prominent corporations are spending extensively on the study of various aspects of neuromarketing in order to better understand their responses to media and advertising campaigns, which is having a significant impact on the market for neuromarketing solutions around the world. The desire to understand consumer behavior is propelling the neuromarketing solutions market size forward significantly.

Attributes

Details

Neuromarketing solutions Market CAGR (2022-2032)

7.5%

Neuromarketing solutions Market Size (2022)

US$ 1.6 Billion

Neuromarketing solutions Market Size (2032)

US$ 3.2 Billion

How does COVID-19 influence the Neuromarketing solutions Market?

The impact of Covid-19 on the neuromarketing solutions market has been significant because individuals have been confined to their houses as a result of the worldwide lockdown, and the data generated from brick-and-mortar showrooms and such has been decreased.

The manufacturing of neuromarketing systems is also projected also be harmed because the global supply chain has been disrupted, and manufacturing sites have been shut down completely.

The pandemic has impacted the number of neuromarketing solutions market opportunities prevalent in the industry.

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What is Propelling the Neuromarketing solutions Market?

The neuromarketing solutions market analysis indicates that during the projected period, the global neuromarketing solutions market is expected to develop due to an increasing requirement to monitor consumers' purchasing behavior.

As per the new market research report on neuromarketing solutions, the market has progressed into a useful tool for studying and analyzing customer purchasing behavior and making better marketing selections. Marketers use neuromarketing to understand better the aspects that influence consumers' purchasing decisions. Understanding this behavior is critical for product design, product advertising, product branding, and product advertising decisions.

As a result, the increased need for understanding and studying customer buying behavior in order to make effective and efficient marketing decisions is likely to drive neuromarketing solutions market growth throughout the forecast period.

Over the forecast period, the worldwide neuromarketing solutions market is expected to develop due to the adoption of cutting-edge technologies to understand customer purchasing behavior. To understand and analyze a person's behavior toward visual and audio stimuli, major neuromarketing solutions providers in the market are focusing on adopting cutting-edge technologies such as biometrics that measure heart rate, eye tracking & facial coding, functional magnetic resonance imaging (fMRI), and galvanic skin response (GSR).

Better and more effective marketing tactics have been developed to successfully advocate a product or service. Over the forecast period, these factors are expected to boost the global neuromarketing solutions market adoption trends.

What Restraints the Neuromarketing Solutions Market?

Over the projected period, the high cost of neuromarketing is expected to limit the growth of the global neuromarketing solutions market. Scanners like fMRI and MEG equipment have a significant initial investment and ongoing operating costs. Because these systems are so huge, they take up a lot of room and restrict workspace mobility.

The cost, mobility, and scalability of bulky neuromarketing technologies like fMRI and MEG scanners are important roadblocks to their widespread use. As a result, over the forecast period, high costs and mobility concerns are projected to limit the demand for neuromarketing solutions.

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What are the Trends in the Neuromarketing solutions Market?

Eye-tracking systems are becoming increasingly popular in neuromarketing solutions market and advertising research, which could lead to profitable growth prospects. In gaming and virtual reality, eye-tracking systems are used.

These methods are increasingly being utilised in market research to monitor and track shopper eye movements in stores. In the sphere of website design, the eye tracking solutions market has a lot of room for growth. Furthermore, the area is predicted to see significant expansion in the fields of market research and advertising research, as well as the ability to perform online research.

Significant business opportunities are projected to arise as research and development activity increase in the neuromarketing solutions market. Because neuromarketing solutions are too expensive for small and medium-sized businesses, it is critical to supply cost-effective alternatives.

Many solution providers are concentrating their efforts on research and development in order to create scalable and cost-effective solutions. Market participants might concentrate on R&D operations and grow their global footprint and fully utilise the available neuromarketing solutions market key trends & opportunities.

Comparative View of Adjacent Neuromarketing solutions Market

Neuromarketing solutions Market:

Attributes

Neuromarketing solutions Market

CAGR

(2022-2032)

7.5%

Market Value

(2026)

US$ 2.2 Billion

Growth Factor

Over the forecast period, the worldwide neuromarketing solutions market is expected to develop due to the adoption of cutting-edge technologies to understand customer purchasing behaviour.

Opportunity

Significant business opportunities are projected to arise as research and development activity increase in the neuromarketing solutions market.

Key Trends

Regulatory laws governing neuromarketing are projected to stifle the growth of the global neuromarketing solutions market during the forecast period.

Content Marketing Software Market:

Attributes

Content Marketing Software Market

CAGR

(2022-2032)

18%

Market Value

(2026)

US$ 22.6 Billion

Growth Factor

Increased adoption of personalised content and customer engagement using content marketing tools is resulting in increased market size of the industry.

Opportunity

For several organisations, innovative techniques have been employed to increase content output which is also impacting the changing market outlook.

Key Trends

In the current global pandemic scenario, events and conferences have been cancelled, resulting in a rise in digital technologies as organisations try to deliver personalised content remotely. The market for advertising has exploded as a result of the rise of social media.

Digital Marketing Software Market:

Attributes

Digital Marketing Software Market

CAGR

(2022-2032)

14%

Market Value

(2026)

58.65 Billion

Growth Factor

Individuals' rising desire for mobile devices to access information on the go, and therefore the continuous transition from desktop PCs to smartphones is driving the market forward.

Opportunity

The continuous move from wired to wireless communication, as well as the increasing usage of wireless communication devices, which is predicted to drive digital media consumption, bodes well for market growth throughout the projection period.

Key Trends

Smartphone proliferation has sparked an increase in digital media consumption, prompting marketers to place more online advertising on social media and other digital platforms in order to gain more exposure and visibility which is leading the market forward.

The neuromarketing solutions market analysis indicates manufacturers of neuromarketing solutions concentrate on creating scalable and simple-to-use products. Effective product cost management is critical in developing cutting-edge neuromarketing solutions that are affordable to end customers. The subject on whom the test is being performed may be harmed if these solutions are applied and used incorrectly.

As a result, neuromarketing solution providers must meet equipment specifications and certification, as well as follow the regulatory regulations set forth by national and international regulating authorities.

The global neuromarketing solutions market is growing due to the increasing use of neuroscience marketing. Customers' decision-making mechanisms can be studied and analysed using a variety of neuromarketing techniques.

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What is the Segmentation Outlook of the Neuromarketing solutions Market?

Functional magnetic resonance imaging (fMRI), magnetoencephalography (MEG), eye tracking, electroencephalography (EEG), and positron emission tomography (PET) are the many types of technology used in the global market for neuromarketing solutions.

With a neuromarketing solutions market share of 47.6%, the fMRI section led the way, closely followed by the EEG segment. Although end users are concerned about the mobility and expense of fMRI equipment, demand for this technology is not likely to be hampered in the coming years, assuring the segment's continuous dominance.

EEG is the second most popular neuromarketing technique, and it is projected to remain so in the next years. In the near future, eye tracking is predicted to pique the interest of experts working in the field of advertising research.

The majority of eye tracking technologies are used in advertising and media studies. Because companies that provide eye tracking solutions are likely to be actively involved in the process of developing improved remote as well as mobile eye tracking solutions, neuromarketing solutions market size is expected to grow at a rapid rate in the coming years.

Which is the Leading Segment in the Neuromarketing solutions Market by Technology?

Functional Magnetic Resonance Imaging (fMRI), one of the neuromarketing solutions sectors, is expected to grow at an annual rate of 8.2% and reach US$1 billion by the end of the forecast year.

After an early assessment of the pandemic's commercial ramifications and the resulting economic crisis, the electroencephalography (EEG) segment's growth is corrected to a revised 9.3% CAGR over the next seven years.

Which is the Leading Region in the Neuromarketing solutions Market?

In the year 2032, the neuromarketing solutions market in the United States is expected to be worth US$1201.7 Million. China, the world's second largest economy, is expected to reach a market size of US$305.9 Million by 2032, representing a 9.7% CAGR throughout the analysed period. Japan and Canada are two more important geographic markets, with forecasted growth rates of 8.1 percent and 7.2 percent, respectively, from 2020 to 2027. Germany is expected to expand at a CAGR of around 7.2 percent in Europe.

The demand for neuromarketing solutions is rising steadily on a global level.

Regions

CAGR (2022-2032)

United States

8.4%

United Kingdom

8.1%

China

9.7%

Saudi Arabia

6.1%

Brazil

5.5%

How Competition Influences the Neuromarketing solutions Market?

There are multiple companies in the neuromarketing sector, which is moderately competitive. With the rising need for neuromarketing applications and technical improvement throughout emerging economies, few firms are now leading in terms of market share; numerous companies are strengthening their market presence, consequently expanding their company footprint across new markets.

Product launches are a priority for market leaders in order to expand the demand for neuromarketing solutions. Major market players are involved in contracts and agreements in order to get a competitive advantage in the marketplace.

Some of the recent developments in the Neuromarketing solutions market are:

Uniphore acquires Emotion Research Lab, a video and emotion AI business, in January 2021. Emotion Research Lab's broad video-focused AI capabilities will enable totally new applications and experiences across the enterprise when joined with Uniphore's CSA technologies, which understand, analyse, and automate voice interactions in real-time.

Neuro-ID, a behavior-as-a-Service (BaaS) technology provider, revealed that it has raised a USD 7 million Series-A round of funding in December 2020. Fin VC and TTV Capital led a fundraising round. Canapi Ventures was also a part of the round. Human Analytics from Neuro-ID makes access to an organization's behavioural data simple, revealing important insights into an interaction's intent and the digital customer experience's distinct mindset. Neuro-technologies ID's allow for real-time activity tracking, increasing traditional fraud screening by capturing complex kinds of fraud, such as bots, that might defy historical or static data, while also guaranteeing that the best candidates aren't mistakenly targeted as false positives.

Key players

Key Segments

By Technology:

  • Functional Magnetic Resonance Imaging
  • Electroencephalography
  • Eye Tracking
  • Positron Emission Tomography
  • Magnetoencephalography

By Region:

  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • South America

Frequently Asked Questions

The neuromarketing solutions market share is projected to have a CAGR of 7.5% through 2032.

North America is the leading neuromarketing solutions market region, with an anticipated CAGR of 8.4% by 2032.

Functional Magnetic Resonance Imaging (fMRI) segment is expected to lead the neuromarketing solutions market with the projected CAGR of 8.2% through 2032.

The neuromarketing solutions market is predicted to grow US$ 1.7 Billion by 2032.

Table of Content

1. Preface

    1.1. Market Definition and Scope

    1.2. Market Segmentation

    1.3. Key Research Objectives

    1.4. Research Highlights

2. Assumptions and Research Methodology

3. Executive Summary: Global Neuromarketing Solutions Market

4. Market Overview

    4.1. Introduction

    4.2. Market Dynamics

        4.2.1. Drivers

        4.2.2. Restraints

        4.2.3. Opportunities

    4.3. Key Market Indicators

    4.4. Key Developments, By Country

    4.5. Overview of Neuromarketing Solutions in Marketing

    4.6. Global Neuromarketing Solutions Market Analysis and Forecasts, 2022 – 2032

        4.6.1. Market Revenue Projections (US$ Mn)

    4.7. Neuromarketing Solutions Value Chain Analysis

    4.8. Market Outlook

5. Global Neuromarketing Solutions Market Analysis and Forecasts, by Technology

    5.1. Overview & Definitions 

    5.2. Key Trends

    5.3. Neuromarketing Solutions Market Size (US$ Mn) Forecast by Technology, 2022 - 2032

        5.3.1. Functional Magnetic Resonance Imaging (fMRI)

        5.3.2. Electroencephalography (EEG)

        5.3.3. Eye tracking

        5.3.4. Positron Emission Tomography (PET)

        5.3.5. Magnetoencephalography (MEG)

    5.4. Technology Comparison Matrix

    5.5. Market Attractiveness by Technology

6. Global Neuromarketing Solutions Market Analysis and Forecasts, by Region

    6.1. Key Findings

    6.2. Neuromarketing Solutions Market Size (US$ Mn) Forecast By Region, 2022 - 2032

        6.2.1. North America

        6.2.2. Europe

        6.2.3. Asia Pacific

        6.2.4. Middle East and Africa

        6.2.5. South America

    6.3. Market Attractiveness by Region

7. North America Neuromarketing Solutions Market Analysis and Forecast

    7.1. Key Findings

    7.2. Key Trends

    7.3. Neuromarketing Solutions Market Size (US$ Mn) Forecast by Technology, 2022 - 2032

        7.3.1. Functional Magnetic Resonance Imaging (fMRI)

        7.3.2. Electroencephalography (EEG)

        7.3.3. Eye tracking

        7.3.4. Positron Emission Tomography (PET)

        7.3.5. Magnetoencephalography (MEG)

    7.4. Neuromarketing Solutions Market Size and Volume (US$ Mn and Million Units) Forecast by Country, 2022 - 2032

        7.4.1. The U.S.

    7.5. Market Attractiveness Analysis 

        7.5.1. By Technology

8. Europe Neuromarketing Solutions Market Analysis and Forecast

    8.1. Key Findings

    8.2. Key Trends

    8.3. Neuromarketing Solutions Market Size (US$ Mn) Forecast by Technology, 2022 - 2032

        8.3.1. Functional Magnetic Resonance Imaging (fMRI)

        8.3.2. Electroencephalography (EEG)

        8.3.3. Eye tracking

        8.3.4. Positron Emission Tomography (PET)

        8.3.5. Magnetoencephalography (MEG)

    8.4. Neuromarketing Solutions Market Size and Volume (US$ Mn and Million Units) Forecast by Country, 2022 - 2032

        8.4.1. The U.K.

    8.5. Market Attractiveness Analysis 

        8.5.1. By Technology

9. Asia Pacific Neuromarketing Solutions Market Analysis and Forecast

    9.1. Key Findings

    9.2. Key Trends

    9.3. Neuromarketing Solutions Market Size (US$ Mn) Forecast by Technology, 2022 - 2032

        9.3.1. Functional Magnetic Resonance Imaging (fMRI)

        9.3.2. Electroencephalography (EEG)

        9.3.3. Eye tracking

        9.3.4. Positron Emission Tomography (PET)

        9.3.5. Magnetoencephalography (MEG)

    9.4. Neuromarketing Solutions Market Size and Volume (US$ Mn) Forecast by Country, 2022 - 2032

        9.4.1. China

    9.5. Market Attractiveness Analysis 

        9.5.1. By Technology

10. Middle East and Africa (MEA) Neuromarketing Solutions Market Analysis and Forecast

    10.1. Key Findings

    10.2. Key Trends

    10.3. Neuromarketing Solutions Market Size (US$ Mn) Forecast by Technology, 2022 - 2032

        10.3.1. Functional Magnetic Resonance Imaging (fMRI)

        10.3.2. Electroencephalography (EEG)

        10.3.3. Eye tracking

        10.3.4. Positron Emission Tomography (PET)

        10.3.5. Magnetoencephalography (MEG)

    10.4. Neuromarketing Solutions Market Size and Volume (US$ Mn and Million Units) Forecast by Country, 2022 - 2032

        10.4.1. Saudi Arabia

        10.4.2. Africa

    10.5. Market Attractiveness Analysis 

        10.5.1. By Technology

11. South America Neuromarketing Solutions Market Analysis and Forecast

    11.1. Key Findings

    11.2. Key Trends

    11.3. Neuromarketing Solutions Market Size and Volume (US$ Mn and Million Units) Forecast by Technology, 2022 - 2032

        11.3.1. Functional Magnetic Resonance Imaging (fMRI)

        11.3.2. Electroencephalography (EEG)

        11.3.3. Eye tracking

        11.3.4. Positron Emission Tomography (PET)

        11.3.5. Magnetoencephalography (MEG)

    11.4. Neuromarketing Solutions Market Size and Volume (US$ Mn and Million Units) Forecast by Country, 2022 - 2032

        11.4.1. Brazil

        11.4.2. Rest of South America

    11.5. Market Attractiveness Analysis 

        11.5.1. By Technology

12. Competition Landscape

    12.1. Market Player – Competition Matrix

    12.2. Market Share Analysis By Company (2021)

    12.3. Company Profiles 

        12.3.1. Tobii Technology

            12.3.1.1. Company details

            12.3.1.2. Company description

            12.3.1.3. Business overview

            12.3.1.4. SWOT analysis

            12.3.1.5. Financials

            12.3.1.6. Strategic overview

        12.3.2. iMotions

            12.3.2.1. Company details

            12.3.2.2. Company description

            12.3.2.3. Business overview

            12.3.2.4. SWOT analysis

            12.3.2.5. Strategic overview

        12.3.3. SR Research

            12.3.3.1. Company details

            12.3.3.2. Company description

            12.3.3.3. Business overview

            12.3.3.4. SWOT analysis

            12.3.3.5. Strategic overview

        12.3.4. ISCAN, Inc.

            12.3.4.1. Company details

            12.3.4.2. Company description

            12.3.4.3. Business overview

            12.3.4.4. SWOT analysis

            12.3.4.5. Strategic overview

        12.3.5. Compumedics Limited

            12.3.5.1. Company details

            12.3.5.2. Company description

            12.3.5.3. Business overview

            12.3.5.4. SWOT analysis

            12.3.5.5. Financials

            12.3.5.6. Strategic overview

        12.3.6. Cadwell Industries, Inc.

            12.3.6.1. Company details

            12.3.6.2. Company description

            12.3.6.3. Business overview

            12.3.6.4. SWOT analysis

            12.3.6.5. Strategic overview

        12.3.7. EB Neuro S.p.A. 

            12.3.7.1. Company details

            12.3.7.2. Company description

            12.3.7.3. Business overview

            12.3.7.4. SWOT analysis

            12.3.7.5. Strategic overview

13. Key Takeaways

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List of Tables

Table 1: Global Neuromarketing Solutions Market Size (US$ Mn) Forecast, by Technology, 2022–2032

Table 2: Global Neuromarketing Solutions Market Size (US$ Mn) Forecast, by Region, 2022–2032

Table 3: North America Neuromarketing Solutions Market Size Forecast, by Technology, 2022–2032 (US$ Mn)

Table 4: North America Neuromarketing Solutions Market Size Forecast, by Country, 2022–2032 (US$ Mn)

Table 5: Europe Neuromarketing Solutions Market Size Forecast, by Technology, 2022–2032 (US$ Mn)

Table 6: Europe Neuromarketing Solutions Market Size Forecast, by Country, 2022–2032 (US$ Mn)

Table 7: Asia Pacific Neuromarketing Solutions Market Size Forecast, by Technology, 2022–2032 (US$ Mn)

Table 8: Asia Pacific Neuromarketing Solutions Market Size Forecast, by Country, 2022–2032 (US$ Mn)

Table 9: Middle East and Africa Neuromarketing Solutions Market Size Forecast, by Technology, 2022–2032 (US$ Mn)

Table 10: Middle East and Africa Neuromarketing Solutions Market Size Forecast, by Country, 2022–2032 (US$ Mn)

Table 11: South America Neuromarketing Solutions Market Size Forecast, by Technology, 2022–2032 (US$ Mn)

Table 12: South America Neuromarketing Solutions Market Size Forecast, by Country, 2022–2032 (US$ Mn)

Nikhil Kaitwade
Principal Consultant
LinkedIn
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List of Charts

Figure 1: Global Neuromarketing Solutions Market Revenue (US$ Mn) Projection, 2022–2032

Figure 2: Global Neuromarketing Solutions Market Size (US$ Mn) Forecast, by Technology, 2022–2032

Figure 3: Global Neuromarketing Solutions Market Value Share Analysis, by Technology, 2021 and 2032

Figure 4: Global Neuromarketing Solutions Market Attractiveness Analysis, by Technology

Figure 5: Global Neuromarketing Solutions Market Attractiveness Analysis, by Region

Figure 6: North America Neuromarketing Solutions Market Revenue (US$ Mn) Forecast, 2022–2032

Figure 7: North America Neuromarketing Solutions Market Revenue Share Analysis, by Technology, 2021 and 2032

Figure 8: North America Neuromarketing Solutions Market Revenue Share Analysis, by Country, 2021 and 2032

Figure 9: North America Neuromarketing Solutions Market Attractiveness Analysis, by Technology

Figure 10: North America Neuromarketing Solutions Market Attractiveness Analysis, by Country

Figure 11: Europe Neuromarketing Solutions Market Revenue (US$ Mn) Forecast, 2022–2032

Figure 12: Europe Neuromarketing Solutions Market Revenue Share Analysis, by Technology, 2021 and 2032

Figure 13: Europe Neuromarketing Solutions Market Revenue Share Analysis, by Country, 2021 and 2032

Figure 14: Europe Neuromarketing Solutions Market Attractiveness Analysis, by Technology

Figure 15: Europe Neuromarketing Solutions Market Attractiveness Analysis, by Country

Figure 16: Asia Pacific Neuromarketing Solutions Market Revenue (US$ Mn) Forecast, 2022–2032

Figure 17: Asia Pacific Neuromarketing Solutions Market Revenue Share Analysis, by Technology, 2021 and 2032

Figure 18: Asia Pacific Neuromarketing Solutions Market Revenue Share Analysis, by Country, 2021 and 2032

Figure 19: Asia Pacific Neuromarketing Solutions Market Attractiveness Analysis, by Technology

Figure 20: Asia Pacific Neuromarketing Solutions Market Attractiveness Analysis, by Country

Figure 21: Middle East and Africa Neuromarketing Solutions Market Revenue (US$ Mn) Forecast, 2022–2032

Figure 22: Middle East and Africa Neuromarketing Solutions Market Revenue Share Analysis, by Technology, 2021 and 2032

Figure 23: Middle East and Africa Neuromarketing Solutions Market Revenue Share Analysis, by Country, 2021 and 2032

Figure 24: Middle East and Africa Neuromarketing Solutions Market Attractiveness Analysis, by Technology

Figure 25: Middle East and Africa Neuromarketing Solutions Market Attractiveness Analysis, by Country

Figure 26: South America Neuromarketing Solutions Market Revenue (US$ Mn) Forecast, 2022–2032

Figure 27: South America Neuromarketing Solutions Market Revenue Share Analysis, by Technology, 2021 and 2032

Figure 28: South America Neuromarketing Solutions Market Revenue Share Analysis, by Country, 2021 and 2032

Figure 29: South America Neuromarketing Solutions Market Attractiveness Analysis, by Technology

Figure 30: South America Neuromarketing Solutions Market Attractiveness Analysis, by Country

Figure 31: Market Share Analysis for Eye Tracking Solutions Providers (2021)

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