Market Overview
The global Neuromarketing technology market is accounted to hold approximately USD 100 million
by the end of the year 2023. Further, it is estimated to grow at a CAGR of 12%
during the forecast period of 2017 to 2023. In regular market operations of
neuroscience, neuro marketing is widely used in order to analyze the behavior
and perception of the customers by detecting them on the basis of emotional and
cognitive responses to marketing inducements.
The worldwide Neuromarketing technology
market growth is driving due to the rising emphasis on the impact of
different marketing efforts. Moreover, the growing investment in neuromarketing
to optimize profitability and increase adoption of novel marketing activities
is the major driving factor for the global market. Additionally, the global
market is fueling due to the rising use of neuromarketing in retail,
telecommunications, media & marketing, and advertising.
However, the global Neuromarketing
technology market might get affected due to the mobility issues and installation
costs associated with the neuromarketing technology. Moreover, the regulations
by various regulatory bodies might hinder the growth of the global market
during the forecast period. Apart from this, the global market might experience
challenges due to the rising mobility issues and increasing expense of
fMRI.
Market Segments
The global Neuromarketing technology
market has been classified based on solutions, technology, and
propulsion types.
Based on the solution segment, the present market
has been segmented into people engagement, customer experience, product
development, and project management. On the basis of the propulsion types
segment, the worldwide market has been divided into healthcare, retail,
consumer electronics, food and beverage, and others.
In terms of the technology segment, the global
market has been classified into electroencephalography (EEG), functional
magnetic resonance imaging (fMRI), magnet oencephalography, eye tracking, and
positron emission tomography (PET).
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Regional Analysis
According to the Neuromarketing technology
market analysis report, the worldwide has been divided into different
regions such as Europe, Latin America, North America, Asia Pacific, and the
rest of the World.
Among all, the North American region is predicted
to lead the global neuromarketing technology industry over the review period.
This region is growing due to various factors, such as increasing investment in
the neuroscience field and a large number of solution providers in the region.
Moreover, this region is highly contributed by the most powerful country, the
United States. Moreover, the increasing solution providers of neuroscience
technology in the United States fuel regional market growth over the assessment
period. In addition, the United States is the early adopter of technology as it
is consists of highly developed technical infrastructure. As a result, the
global market is projected to rise during the forecast period of 2023. Apart
from these, the European regional market is estimated to witness significant
development in the further coming year.
Industry news
In May 2019, Conroy Media, Ltd. signed an agreement
with Nielsen for audio and local TV electronic rating services in various
nations. This company was an earlier subscriber to Nielsen Scarborough, which
developed its connections for better accountability and accuracy.
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