According to a report published recently by Value Market Research, the Global Neuromarketing Technology Market was valued at USD 337.5 BN in 2018 and is anticipated to cross over USD 770 BN by 2025 with a CAGR of 12.5% during 2019 to 2025. The focus on the impact of various marketing activities and the increase in investments is the major driver driving the growth of this market. The adoption of neuromarketing in media & marketing, advertising, retail and telecommunication are a few of the other factors pushing the neuromarketing technology market growth. The increased expenditure by key players on the technology to monitor and measure the impact of campaigns, advertisement and branding are responsible for fuelling the market growth.
Neuromarketing refers to the study of neuroscience and market research. It is a study on the brain’s responsiveness to advertisement and branding activities. Neuromarketing provides data related to human preferences and emotional responsiveness for various products and advertisements. It involves technologies such as functional MRI, EEG and MEG which are used to measure the brain’s activity in response to marketing activity. Neuromarketing helps marketers to understand the key factors which persuade a customer to make a purchase. It also helps marketers to gain an insight into the consumer’s behavior which in turn helps the company to devise effective and efficient marketing strategies.
The report “Global Neuromarketing Technology Market Report By Technology (Functional Magnetic Resonance Imaging, Electroencephalography (EEG), Steady State Topography, Eye Tracking And Magnetoencephalography (MEG)) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2018-2025” covers the market dynamics,the market analysis along with segmentation by technology, key players and region and it also provides a detailed outlook on the competitive landscape of the global neuromarketing technology market.
By technology, functional magnetic resonance imaging, electroencephalography (EEG), steady-state topography, eye tracking and magnetoencephalography (MEG) are the segments of the global neuromarketing technology. The functional magnetic resonance imaging system has reportedly led this segment owing to the ability to image deep brain structures especially those involved in emotional responses to offer more accurate results. The rise in adoption in retail, media & marketing, telecommunication and other end-use industries are further fuelling the market growth.
North America, Europe, Asia Pacific, Latin America and Middle East & Africa are the geographical segments of the neuromarketing technology market globally. North America has dominated the market by accounting for the maximum market share owing to the rise in the expenditure on neuronal research along with the presence of key players in the region. The advancements in technology are further boosting the neuromarketing technology growth.
The Report Segments Global Neuromarketing Technology Market -
Functional Magnetic Resonance Imaging
Steady State Topography
Middle East & Africa
Players Profiled In the Report:
Behavior and Brain Lab, Cadwell Industries Inc., Compumedics Limited, Css/Data intelligence, Merchant Mechanics, Neural Sense, Neurospire Inc., Nviso, Olson Zaltman Associates, Sensomotoric Instruments GMBH, Sr Labs, SR Research, Synetiq Ltd and The Neilsen Company LLC
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