Global Eye Tracking Market - Overview
As per Market Research Future (MRFR), the global Eye Tracking Market is projected to reach approximately USD 1,432 million with a CAGR of 29% from 2017 to 2023 (forecast period). One of the main driving factors for the eye tracking market is the high demand for eye trackers in the healthcare vertical, in particular for the assistive communication application. The increasing penetration of eye tracking technology in vertical consumer electronics and high demand for eye trackers for customized advertising and consumer research are a few other key factors that have a positive impact on the growth of the eye tracking market.
COVID 19 Analysis:
Eye-Tracking Technology Market was demanding all the time, even with the COVID impacts. It is because people were more at home and were keen to use smart devices. Therefore, the demand scale for the eye-tracking technology and device was larger even with COVID impacting across the globe.
The only problem that the industry faced was the slower manufacturing or production process. With the world in a complete lockdown situation, the production workforce was lowered, and the key players had to restrict their work time. But, with the COVID pandemic taking a down track now, the production pace is normalized, and the demands are met by an ample amount of supply.
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Splitting
The eye tracking market was segmented according to type, application, vertical, and region. The segment type encompasses remote eye tracking and mobile eye tracking. The application segment comprises the interface of virtual reality, research, and human computers. Aerospace, retail, automotive, government & defense are part of the vertical segment.
Mobile eye tracking is commonly used under the application section to calculate how drivers are affected by a new proprietary form of advertising on pillars in parking garages. Mobile eye tracking gives the subject a greater degree of freedom which involves more natural movement of the head and eyes to be recorded. This approach is gaining traction in applications in market research, particularly in the retail and advertising sector. Growing demand from large FMCG companies and retailers for on-field market research is expected to spur growth in the mobile eye tracking market.
Regional Analysis
Eye Tracking market regional analysis is being studied for regions like Asia Pacific , North America, Europe and the rest of the world. In terms of the largest market share in Eye Tracking market, North America is one of the world's leading regions. In the region of North America, eye tracking becomes part of the VR API, an open standard under development supported by Oculus, Google, and others.
During the forecast period, North America is expected to account for the greatest share of the eye tracking market. That sector's dominance can be attributed to the region's comparative economic superiority. A few key factors driving growth in North America are the increasing use of advanced technology in the healthcare sector and growing research activities to understand human behaviour. As major players like SMI, Europe is expected to grow in the forecast years , bringing eye tracking technology to both standalone VR head-mounted displays and smartphones. This increasing investment by major European players is expected to drive the region's eye tracking market. Owing to technical advances in the eye tracking devices and reduced prices of eye tracking devices in the area, APAC region has the highest CAGR.
Key Players
The prominent players in the Eye Tracking Market are – Ergoneers GmbH (Germany), Seeing Machines Ltd. (Australia), Tobii AB (Sweden), Facebook Inc. (US), PRS IN VIVO (US), SR Research Ltd. (Canada), EyeTech Digital Systems (U.S), Apple Inc. (U.S), Smart Eye AB (Sweden), and Lumen Research Ltd. (UK) among others.
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