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Neuromarketing Solutions Market Outlook, Trends, Analysis

Neuromarketing Solutions Market (Technology - Functional Magnetic Resonance Imaging (fMRI), Electroencephalography (EEG), Eye Tracking, Positron Emission Tomography (PET), Magnetoencephalography (MEG)) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

Neuromarketing Solutions Market

Neuromarketing solutions refer to a commercial segment of marketing that makes use of various medical technologies, such as functional Magnetic Resonance Imaging (MRI) for the purpose of analysis of response generated by brain to marketing stimuli. It is a part of the marketing communication segment making use of neuropsychology to examine affective, sensorimotor, and cognitive response of consumers to marketing stimuli. Growing prominence of these solutions is anticipated to development of the global neuromarketing solutions market in the forthcoming years.   

The main purpose of neuromarketing is to comprehend the rationale behind as to how consumers decide on what to purchase and when to purchase. Neuromarketing solutions come with several benefits comprising efficient and effective strategies of marketing campaigns. In addition, it also provides ultimate control over the wants and needs of consumers and fewer product failures and campaigns. Such marketing benefits are estimated to fuel development of the global neuromarketing solutions market in the years to come. Positron emission tomography (PET), magnetoencephalography (MEG), functional magnetic resonance imaging (fMRI), eye tracking, and electroencephalography (EEG) are some of the popular technologies of neuromarketing.  

Benefits of Neuromarketing to Influence Marketing Decisions and Foster Market Growth

Neuromarketing has developed into an efficacious technology in the study and analysis of consumers’ buying behavior, thereby leading to much informed and marketing decisions. It is essential to gain understanding of consumer behavior so as to make informed decisions regarding product advertising, product design, product branding, and product advertising. As such, increasing requirement to study and comprehend buying behavior of consumers so as to make efficacious and effective marketing decisions. These factors are estimated to propel growth of the global neuromarketing solutions market in the years to come.

With the ongoing global pandemic, Covid-19, the global neuromarketing solutions market has suffered a setback, and it is likely to continue until life returns to normalcy. Nationwide lockdowns imposed by governments of several countries has adversely impacted the production activities, supply chain of global neuromarketing solutions sector across the globe.

Global Neuromarketing Solutions Market: Snapshot

In the recent times, the application of neuromarketing in the fields of media, advertising, telecommunication has gained significant momentum. A number of large companies are investing heavily on the study of various subjects related to neuromarketing to understand their response to the media and their advertising campaigns, which consequently, is influencing the market for neuromarketing solutions remarkably across the world. The need to study the behavior of the consumer is also adding to the growth of this market substantially.

The market, which stood at US$0.94 bn in 2016, is likely to expand at a 10.20% CAGR between 2017 and 2025 and reach US$2.20 bn by the end of 2025. Although the future of this market looks thriving, the regulatory and the cost-, mobility-, and scalability-related issues associated with neuromarketing solutions may hamper the growth of this market to some extent over the forthcoming years.

neuromarketing solutions market

Functional Magnetic Resonance Imaging to Remain Most Preferred Technology

Based on the technology, the global market for neuromarketing solutions is classified into functional magnetic resonance imaging (fMRI), magnetoencephalography (MEG), eye tracking, electroencephalography (EEG), and positron emission tomography (PET). The fMRI segment led this market with a share of 47.6% in 2016 and was closely followed by the EEG segment. Although the mobility and the cost of fMRI devices is a concern for the end users but the demand for this technology would not be affected in the coming years, ensuring the continued dominance of this segment.

EEG is second-most common technology utilized in neuromarketing solutions and is expected to remain so over the next few years. Eye tracking is also expected to attract the attention of researchers working in the field of advertising research in the near future. Eye tracking solutions are predominately utilized in advertising and media research. The companies providing eye tracking solutions, are likely to involve actively in the process of developing advanced remote as well as mobile eye tracking solutions, owing to which this segment is anticipated to report a high-paced growth in the years to come.

North America to Lead Global Neuromarketing Solutions Market

Asia Pacific, Europe, the Middle East and Africa, North America, and South America are the prime regional markets for neuromarketing solutions across the world. Among these, North America emerged as the leading contributor to the worldwide market for neuromarketing solutions in 2016, generating US$355.6 mn in revenues. With the U.S. being headquarter of a large pool of leading companies functioning in this market, the region is likely to remain dominant over the next few years. Europe is another prominent regional market for neuromarketing solutions across the world. Analysts predict this regional market to be driven by the rising investments and the economic developments in the U.K. over the forthcoming years.

Among others, Asia Pacific is anticipated to witness a massive rise in its neuromarketing solutions market in the near future and China is projected to lead the Asia Pacific market for neuromarketing solutions. The market in the Middle East and Africa is expected to experience a sluggish rise while the growth of South America market will be restricted by the regulatory hurdles in the years to come.

The global neuromarketing solutions market demonstrates a highly consolidated competitive landscape. EB Neuro S.p.A., Cadwell Industries Inc., Compumedics Ltd., ISCAN Inc., SR Research, LC Technologies, SensoMotoric Instruments, iMotions, and Tobii Technology are some of the leading players operating in this market.

The following segmentation of the global neuromarketing solutions market has been provided in the report:

By Technology

  • Functional Magnetic Resonance Imaging (fMRI)
  • Electroencephalography (EEG)
  • Eye tracking
  • Positron Emission Tomography (PET)
  • Magnetoencephalography (MEG)

By Geography

  • North America
    • The U.S.
    • Rest of North America
  • Europe
    • The U.K.
    • Rest of Europe
  • Asia Pacific
    • China
    • Rest of Asia Pacific
  • Middle East & Africa
    • Saudi Arabia
    • Africa
    • Rest of Middle East & Africa
  • South America
    • Brazil
    • Rest of South America
Neuromarketing Solutions Market Outlook, Trends, Analysis

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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, 2015 – 2025
            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, 2015 - 2025
            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, 2015 - 2025
            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, 2015 - 2025
            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, 2015 - 2025
            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, 2015 - 2025
            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, 2015 - 2025
            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, 2015 - 2025
            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, 2015 - 2025
            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, 2015 - 2025
            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, 2015 - 2025
            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, 2015 - 2025
            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, 2015 - 2025
            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 (2016)
     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. SensoMotoric Instruments
                      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. LC Technologies
                      12.3.4.1. Company details
                      12.3.4.2. Company description
                      12.3.4.3. Business overview
                      12.3.4.4. SWOT analysis
                      12.3.5.5. Strategic overview
            12.3.5. SR Research
                      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. Strategic overview
            12.3.6. ISCAN, 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. Compumedics Limited
                      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. Financials
                      12.3.7.6. Strategic overview
            12.3.8. Cadwell Industries, Inc.
                      12.3.8.1. Company details
                      12.3.8.2. Company description
                      12.3.8.3. Business overview
                      12.3.8.4. SWOT analysis
                      12.3.8.5. Strategic overview
            12.3.9. EB Neuro S.p.A. 
                      12.3.9.1. Company details
                      12.3.9.2. Company description
                      12.3.9.3. Business overview
                      12.3.9.4. SWOT analysis
                      12.3.9.5. Strategic overview

13. Key Takeaways

List of Tables

Table 1: Global Neuromarketing Solutions Market Size (US$ Mn) Forecast, by Technology, 2015–2025
Table 2: Global Neuromarketing Solutions Market Size (US$ Mn) Forecast, by Region, 2017–2025
Table 3: North America Neuromarketing Solutions Market Size Forecast, by Technology, 2015–2025 (US$ Mn)
Table 4: North America Neuromarketing Solutions Market Size Forecast, by Country, 2015–2025 (US$ Mn)
Table 5: Europe Neuromarketing Solutions Market Size Forecast, by Technology, 2015–2025 (US$ Mn)
Table 6: Europe Neuromarketing Solutions Market Size Forecast, by Country, 2015–2025 (US$ Mn)
Table 7: Asia Pacific Neuromarketing Solutions Market Size Forecast, by Technology, 2015–2025 (US$ Mn)
Table 8: Asia Pacific Neuromarketing Solutions Market Size Forecast, by Country, 2015–2025 (US$ Mn)
Table 9: Middle East and Africa Neuromarketing Solutions Market Size Forecast, by Technology, 2015–2025 (US$ Mn)
Table 10: Middle East and Africa Neuromarketing Solutions Market Size Forecast, by Country, 2015–2025 (US$ Mn)
Table 11: South America Neuromarketing Solutions Market Size Forecast, by Technology, 2015–2025 (US$ Mn)
Table 12: South America Neuromarketing Solutions Market Size Forecast, by Country, 2015–2025 (US$ Mn)

List of Figures

Figure 1: Global Neuromarketing Solutions Market Revenue (US$ Mn) Projection, 2015–2025
Figure 2: Global Neuromarketing Solutions Market Size (US$ Mn) Forecast, by Technology, 2015–2025
Figure 3: Global Neuromarketing Solutions Market Value Share Analysis, by Technology, 2017 and 2025
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, 2015–2025
Figure 7: North America Neuromarketing Solutions Market Revenue Share Analysis, by Technology, 2017 and 2025
Figure 8: North America Neuromarketing Solutions Market Revenue Share Analysis, by Country, 2017 and 2025
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, 2015–2025
Figure 12: Europe Neuromarketing Solutions Market Revenue Share Analysis, by Technology, 2017 and 2025
Figure 13: Europe Neuromarketing Solutions Market Revenue Share Analysis, by Country, 2017 and 2025
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, 2015–2025
Figure 17: Asia Pacific Neuromarketing Solutions Market Revenue Share Analysis, by Technology, 2017 and 2025
Figure 18: Asia Pacific Neuromarketing Solutions Market Revenue Share Analysis, by Country, 2017 and 2025
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, 2015–2025
Figure 22: Middle East and Africa Neuromarketing Solutions Market Revenue Share Analysis, by Technology, 2017 and 2025
Figure 23: Middle East and Africa Neuromarketing Solutions Market Revenue Share Analysis, by Country, 2017 and 2025
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, 2015–2025
Figure 27: South America Neuromarketing Solutions Market Revenue Share Analysis, by Technology, 2017 and 2025
Figure 28: South America Neuromarketing Solutions Market Revenue Share Analysis, by Country, 2017 and 2025
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 (2016)

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