Neuromarketing Technology Market Analysis, Emerging Factors, Leading Growth Drivers, Segments, Sales, Profits and Future Outlook | COVID-19 Effects from kranti's blog

Market Scenario

The need to tap into various end-user groups is expected o motivate the Neuromarketing Technology Market Analysis 2020. The ICT industry reports are created by Market Research Future, which centers on market choices for expansion. An income potential of USD 100 million is forecasted for the market while mounting at a 12% CAGR by 2023.

The rise in demand for customization of services is predicted to guide the development of the market or neuromarketing technology in the coming years. Moreover, the emphasis on product positioning is anticipated to accelerate further the growth of the neuromarketing technology market in the forecast period. The robust development of neuromarketing technology tools is also estimated to boost the global market in the coming period.

 Segmental Analysis 

 The segmentation of the neuromarketing technology market is conducted on the basis of solutions, technology, region, and end-user. On the basis of technology, the neuromarketing technology market is segmented into positron emission tomography (PET), electroencephalography (EEG), eye tracking, functional magnetic resonance imaging (fMRI), and magneto encephalography (MEG).  Based on the solutions, the neuromarketing technology market is segmented into people engagement, customer experience, and product development. On the basis of end-users, the neuromarketing technology market is segmented into healthcare, retail, food & beverage, and consumer electronics.

 Detailed Regional Analysis 

 The regional assessment of the neuromarketing technology is segmented into Asia Pacific, Europe, North America, and the Rest of the regions. The North American region is acknowledged to be the governing region in the neuromarketing technology market. The U.S. is the most important nation in this region. Though, the escalating investment in the field of neuroscience and the attendance of a significant number of solution providers are the main motivating factors for the neuromarketing technology market to develop through the forecast period. The European and Asia Pacific region are also likely to have a noteworthy impact  on neuromarketing technology. The U.K is projected to be a well-known country in the European region due to ascent noted in economic growth over the forecast period.

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 Competitive Analysis

The consumers in the market are well aware of their requirements and how the market can meet them. The enrichment of the sources of supply is allowing the market players to create products that can be successful in the market effectively. The collaboration of competitors in this market is expected to give way to new developments and novel product launches. The availability of favorable policies and regulations by trade bodies and governments is expected to hasten the augmentation of the market in the forecast period. The development of the market is contingent on the delicate balance of the forces of demand and supply. The improved economic state of the companies is expected to lead to better research and development trials and activities in the impending period. The upgradation in production capacity is estimated to accelerate market expansion in the upcoming period further.

The notable contenders of neuromarketing technology market are Behavior and Brain Lab (Italy), Merchant Mechanics (U.S.), Css/Data Intelligence (U.S.), Sensomotoric Instruments GMBH (Germany), Neural Sense (South Africa), Synetiq Ltd.  (Budapest), Neurospire Inc.  (U.S.), The Neilsen Company LLC, (U.S.), Nviso (Switzerland), Olson Zaltman Associates (U.S.), Sr Labs (Italy), SR Research ( Canada), and Compumedics  Limited (Australia).

Industry Updates:

Feb 2020 Jumpstory has planned to disrupt the USD 3 billion industry with its AI-powered subscription platform, using neuromarketing principles and a ‘works where you do method which sees it put together with other MarTech software and platforms so marketers can edit, search,  and use images openly. JumpStory functions on a limitless subscription form, which makes the image sourcing both more accessible and more reasonably priced.

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