Neuromarketing Technologies: Global Markets
The global market for neuromarketing technology reached $21.0 million in 2015. The market is expected to reach $22.0 million by 2021 from $50.3 million in 2016, increasing at a compound annual growth rate (CAGR) of 18.0% from 2016 to 2021.
- An overview of the global markets for neuromarketing technologies, which apply IT and the disciplines of psychology, neuroscience and economics to understand consumer behaviour.
- Analyses of global market trends, with data from 2015, estimates for 2016, and CAGRs through 2021.
- A look at how neuromarketing technology allows companies to acquire data about the customer’s thoughts and feelings so that they may tailor marketing practices, products and services to their customer needs.
- A definition of neuromarketing and demonstration of how it is a demand driver for IT applications.
- A breakdown of neuromarketing services based on two components: hardware (fMRI, EEG, Eye tracking and Biometrics), and software which is responsible to process the signals and provide information about emotions and motivation.
- Profiles of major players in the industry.
SCOPE OF THE REPORT
This report covers several key areas in the neuromarketing market. Global market trends are analyzed with currently available data on the number of neuromarketing companies and their sales revenues. The report discusses recent technological advances in neuroscience technology, ethical issues in neuromarketing, and the challenges and barriers that may restrict the market.
The history and current state of neuromarketing is reviewed and discussed. An analysis of industry structure, including sales, market share and the major market drivers, is presented. Key neuromarketing technologies such as functional magnetic image resonance imaging (fMRI), electroencephalography (EEG), galvanic skin response (GSR) measurement, eye tracking and biometrics are examined. Likely future industry developments in neuromarketing technology are discussed.
Detailed reviews of company revenues based on their use of neuromarketing is considered beyond the scope of this report and is excluded from the study.
Regions in this report include the EMEA (Europe, Middle East and Africa), the Americas (North America and Latin America) and APAC (Asia-Pacific). Regions are broken down further where data was available.
Joana Sousa holds an MSc in Biomedical Engineering with expertise in the areas of biomedical engineering, innovation management and marketing strategy. She is currently Project Manager at NOS Innovation, a Portuguese telecommunications company. She is also a partner in Unlimited-Hashtag.com, a start-up combining technological skills and business expertise to provide support for the innovation process from conception to market. She was R&D project coordinator at PLUX–Wireless Biosignals, SA, and Innovation sub-director at Edge Innovation. In parallel, she conducted research in biomedical signal processing, features extraction, pattern recognition, continuous patient monitoring and development of new bio-signal techniques for research, health and sports. She was also innovation sub-director, coordinating innovative projects and managing innovation in the IT, communications and health areas. She is an independent expert in the European Community’s H2020 framework, which provides funding for research and innovation.