PUBLISHER: Orion Market Research | PRODUCT CODE: 1826607
PUBLISHER: Orion Market Research | PRODUCT CODE: 1826607
Neuromarketing Market Size, Share & Trends Analysis Report by Technology (Functional Magnetic Resonance Imaging (FMRI), Electroencephalography (EEG), Eye Tracking, Positron Emission Tomography (PET), and Magneto Encephalography (MEG)), and by End-User (BFSI, Retail/Consumer Brands, Media & Entertainment, Healthcare & Pharmaceuticals, E-commerce & Technology, Scientific Institutions, Market Research, and Others), Forecast Period (2025-2035)
Industry Overview
Neuromarketing market was valued at $1.6 billion in 2024 and is projected to reach $3.6 billion by 2035, growing at a CAGR of 7.8% during the forecast period (2025-2035). The neuromarketing market is primarily driven by increasing demand for understanding and enabling businesses to customize products and services more effectively. By providing deeper insights into customer decision-making, neuromarketing supports the efficient execution of marketing strategies. Moreover, increasing awareness of neuroscience applications, with technological developments such as the Internet of Things (IoT), further fuels the market growth.
Market Dynamics
Integration of VR in Neuromarketing Boosts Market Growth
As technology continues to develop, virtual reality (VR) is emerging as a valuable tool for neuromarketing research. By immersing individuals in simulated environments, VR can evoke authentic emotional responses and provide marketers with a more realistic view of consumer behavior and preferences than traditional methods. Its ability to replicate real-world scenarios enables researchers to test marketing strategies in controlled and lifelike settings, providing deeper insights into how the brain processes and reacts to different stimuli.
Growing Use of EEG & FMRI Technologies
The increasing utilization of both EEG and FMRI is significantly contributing to market growth. Neurofeedback, which leverages these neuroimaging techniques to acquire real-time measures of brain activity that can be used to encourage self-regulation and behavior modification. This approach opens new therapeutic possibilities in the fields of psychiatry and neurology by helping patients actively regulate disordered brain regions. Also, the integration of simultaneous real-time FMRI and EEG neurofeedback delivers collective insights into both hemodynamic and electrophysiological brain functions, providing a more comprehensive tool for research and clinical applications.
Market Segmentation
EEG Segment Maintained a Leading Position in the Global Neuromarketing Market
The EEG segment contributes a major share in the neuromarketing market, mainly due to its affordable and widespread accessibility as compared to other neuromarketing tools. EEGs enable real-time measurement of brain activity, providing valuable insights into consumer emotions and cognitive responses to marketing stimuli. Additionally, the integration of artificial intelligence (AI) and machine learning (ML) is further enhancing data analysis and interpretation, which makes EEG a powerful tool for understanding consumer behavior.
The global neuromarketing market is further divided by geography, including North America (the US and Canada), Europe (the UK, Germany, France, Italy, Spain, Russia, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, Australia and New Zealand, ASEAN Countries, and the Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).
North America is Leading the Neuromarketing Market
North America is anticipated to hold a significant share of the neuromarketing market, driven by early adoption of advanced technology, a strong research ecosystem, and the presence of key players. Several companies in the region are increasingly focused on decoding consumer behavior through a neurological lens and are investing heavily in advanced tools such as EEG, biometric sensing, eye-movement analysis, eye-tracking, and advanced software solutions.
The major companies operating in the global neuromarketing market include Buyology Inc., Immersion Neuroscience Inc., Merchant Mechanics Inc., and Nielsen Consumer LLC, among others. Market players are leveraging partnerships, collaborations, mergers, and acquisition strategies for business expansion and innovative product development to maintain their market positioning.
Recent Developments