Neuromarketing Solutions Market Size

Neuromarketing Solutions Market size was valued at USD 1.93 Billion in 2023 and is projected to exceed USD 6.27 Billion by the end of 2036, expanding at over 9.5% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of neuromarketing solutions is evaluated at USD 2.1 Billion. Neuromarketing has become much more significant in the recent years, and its demand has increased considerably owing to the increased emphasis placed on the consumer through marketing and the predominant digitalization around the globe. The drastic advancements in technology in every sector of the economy has propelled the need for technological innovation in the advertisement industry, thereby raising the need for studying neuromarketing and its application in multiple industries. Moreover, growing advertising spending of businesses is also poised to act as a significant growth factor for the global neuromarketing solutions market. For instance, more than 9 percent of the revenue is spent by the companies on the marketing.

In addition to these, factors that are believed to fuel the market growth of neuromarketing solutions are the opportunities generated as a result of the growing focus of the media and entertainment companies on developing advertising tactics which capitalizes on the widespread use of smartphones, backed by the increasing deployment of high-speed data networks. Digital marketers worldwide are highly influenced by neuromarketing as it helps them create conversion path, basis on the cognitive characteristics of the consumers, which further helps them to convey and contribute to their specific economic choices. Besides this, the market growth can also be attributed to the rising research and development activities in the field of neuroscience, especially to study the cognitive behavior of human beings utilizing different cognitive models, also known as the persuasion code.