The Eye Tracking Market Research Overview states that this technology is one of the most crucial inventions of all time. It is a technique that has some sort of measuring potential around the areas people look at. It is also known as the point of gaze. All of such measurements are carried out by a device called, eye tracker. Hence, it is useful for recording the eye positions and the movements that they are or about to make. With this technology, near-infrared light is projected towards the pupil of the eyes, which produces detectable reflections in both cornea and pupil. And, these reflections are then tracked down by the infrared camera. Hence, it is known as the optical tracking solution of the corneal reflections.
The potential of eye tracking device to gather data quickly and efficiently, and that is what has contributed to evolving its demand in the market. Not just that, but this technology is also cost-effective to help drive more attention of people towards it. It supports the implementation of visual processing aspects for collectively enhancing the demand for Virtual Reality technology as well. The key players across the globe are putting in their immense efforts in pursuit to help grow the eye-tracking market on a larger scale. Today, the integration of Eye-Tracking Software is passed onto laptops, desktop monitors, and mobile phones.
This Eye Tracking Market Study focuses on the overall growth and potential of the global industry. Along with that, it also highlights the key market segmentation based upon different areas to put clarity on how the industry operates. The regional classification is what gives complete exposure to how the market is functioning around the globe. The Global Eye Tracking Market Size was larger in the previous period and broke the revenue records. But, with the demands multiplying in the present forecast period, the market size of the Global Eye Tracking Industry is expected to cross the mark of $1432 Million USD by the end of 2023. The CAGR for the market is 29% for the forecast years 2017 to 2023.
Global 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.
Major Drivers of The Market
Cost-effectiveness is one of the crucial market driving potentials of the Global Eye Tracking Industry. Smart device manufacturers do not have to spend a lot to include this technology and device in their products. As a result, it doesn’t contribute to hiking the prices of the end-products.
Apart from that, the rising demand in the field of healthcare and medicine and increase in the number of eBook readers is possibly the latest driver of the market and is also considering the Eye Tracking Market Trend.
Significant Opportunities for The Market:
The increased use of mobile phones, laptops, and desktops is possibly a productive opportunity for the Global Eye Tracking Market. The communication segment is the richest demanding section for the global market. Hence, the Eye Tracking Market Growth potential within this area is impeccable.
The demand for eye-tracking technology in the virtual reality software and hardware aspects for the gaming sector is yet another significant opportunity for the market to boom. The visual real-time processing technological aspects are what helps serve this purpose.
The possible downfall of the Global Eye Tracking Market is because people are more frequently using contact lenses. The use of contact lenses possibly hampers the functionality of the tracking devices.
The reflections cannot reach the pupil, and the working potential deteriorates. Therefore, the sales are also lowering down for this impact. But, the key players are trying to evolve their technology to attend this restraint on priority.
Market Growth Challenges
COVID did put some sort of challenges upon the Global Eye Tracking Market. It suppressed the production pace, and the industry experienced a big down toll. But even with low manpower, the key players and the collective market tried to meet the demands with maximum potential.
As the COVID effect is lowering, the growth aspects of the Global Eye Tracking Market are increasing exponentially. But, the fact is that the industry will have to lower the prices now, in order to make more sales. Therefore, maintaining profit and giving out quality technology at affordable pricing is a challenge.
Cumulative Growth Analysis
The Global Eye Tracking Market is now offering its products and technology to entertainment, advertising, packaging, and web design companies as well. This has expanded the area of sales for the global market.
And with the Eye Tracking Market Analysis, the growth rate is recorded to be at around 29% for the present forecast years. With it, the predicted market size is also expected to grow over $1432 Million USD by the end of 2023.
Based on the Type Segmentation, the Global Eye Tracking Market is categorized into mobile type, remote type, and others. Different types of devices demand different technologies, and the key players were ready for it.
The mobile type eye-tracking technology was way more demanding than any other type. The key players were keen to work more on it.
Based on the application segmentation, the Global Eye Tracking Market is meant to serve different applications to highlight its potential.
The applications that the industry focused on are human-computer interaction, research, virtual reality, and others. These applications explain the weightage and value of this technology across diverse sectors.
Based on the verticals segmentation, the Global Eye Tracking Market is adapted by different sectors. These sectors are aerospace, automotive, retail, defense & government, and others.
All of these sectors are actively making use of eye-tracking technology for diverse purposes. They are leveraging upon the potential of it for their business or non-profit benefits.
The regional classification of the Global Eye Tracking Market is widely spread across various regions that include North America, Asia Pacific, Europe, and other parts of the world.
North America is considered as one of the leading regions for the market and holds the highest Eye Tracking Market Share. It helped generate the highest revenue in the previous forecast years. And with immense Eye Tracking Market Demand, the expectations are even higher in the present period.
The Key Players to the Global Eye Tracking Market are:
All the key players have contributed to the amazing growth of the Global Eye Tracking Market. But, Facebook Inc. is one of the companies that have taken this market to the next level. It has proposed its own eye-tracking start-up named Eye Tribe to leverage upon the rising demands of it. Google is yet another one to pick its own eye-tracking start-up named, EyeFluence.
The Global Eye Tracking Market Outlook or Overview is as follows:
The Report Focuses on the overall market classification in different aspects. It covers the market overview, dynamics, segmentation, and regional analysis to showcase clarity upon how the market functions. The report also puts light upon the recent developments within the industry.
The Market Segmentation Highlights for the Global Eye Tracking Market are as follows:
Frequently Asked Questions (FAQ) :
A detailed regional and country-level analysis of the following segments are present in the report – North America, Asia-pacific, Europe, and Rest of the World.
Increasing innovations in the market are poised to catapult APAC market on upward trajectory.
The rising popularity of AR and VR is supposed to drive market growth in North America.
The market is anticipated to mark a stellar CAGR of 29%.
The market is anticipated to be worth USD 1432 Mn by 2023.
Table of Contents
1. Executive Summary
2. Research Methodology
2.1. Scope of the study
2.1.2. Research Objective
2.2. Research Process
2.2.1. Primary Research
2.2.2. Secondary Research
2.3. Market size Estimation
2.4. Forecast Model
3. Market Dynamics
3.1. Market Drivers
3.2. Market Inhibitors
3.3. Supply/Value Chain Analysis or Market Ecosystem
3.4. Porter’s Five Forces Analysis
4. Eye Tracking Market, by Type
5. Eye Tracking Market, by Applications
5.2 Human-Computer Interaction
5.3 Virtual Reality
6. Eye Tracking Market, By Verticals
6.5. Government & Defense
7. Regional Market Analysis
7.2. North America
7.3.4. Rest of Europe
7.4.4. South Korea
7.4.5. Rest of Asia-Pacific
7.5. Middle East & Africa
8. Competition Analysis
8.2. Competitive Scenario
8.2.1. Market Share Analysis
8.2.2. Market Development Analysis
8.2.3. Product/Service Benchmarking
8.3. Facebook Inc. (US.)
8.3.2. Product/Service Offering
8.4. Seeing Machines Ltd. (Australia)
8.4.2. Product/Service Offering
8.5. Ergoneers GmbH (Germany)
8.5.2. Product/Service Offering
8.6. Tobii AB (Sweden)
8.6.2. Product/Service Offering
8.7. SR Research Ltd. (Canada)
8.7.2. Product/Service Offering
8.8. PRS IN VIVO (U.S.)
8.8.2. Product/Service Offering
8.9. Apple Inc. (U.S.)
8.9.2. Product/Service Offering
8.10. Smart Eye AB( Sweden)
8.10.2. Product/Service Offering
8.11. EyeTech Digital Systems (U.S)
8.11.2. Product/Service Offering
8.12. Lumen Research Ltd. (U.K.)
8.12.2. Product/Service Offering
LIST OF TABLES
TABLE 1 EYE TRACKING MARKET, BY TYPE
TABLE 2 EYE TRACKING MARKET, BY APPLICATIONS
TABLE 3 EYE TRACKING MARKET, BY VERTICALS
TABLE 4 EYE TRACKING MARKET, BY REGIONS
TABLE 5 NORTH AMERICA EYE TRACKING MARKET, BY TYPE
TABLE 6 NORTH AMERICA EYE TRACKING MARKET, BY APPLICATIONS
TABLE 7 NORTH AMERICA EYE TRACKING MARKET, BY END USER
TABLE 8 NORTH AMERICA EYE TRACKING MARKET, BY REGION
TABLE 9 EUROPE EYE TRACKING MARKET, BY TYPE
TABLE 10 EUROPE EYE TRACKING MARKET, BY APPLICATIONS
TABLE 11 EUROPE EYE TRACKING MARKET, BY VERTICALS
TABLE 12 EUROPE EYE TRACKING MARKET, BY REGION
TABLE 13 U.K. EYE TRACKING MARKET, BY TYPE
TABLE 14 U.K. EYE TRACKING MARKET, BY APPLICATIONS
TABLE 15 U.K. EYE TRACKING MARKET, BY VERTICALS
TABLE 16 U.K. EYE TRACKING MARKET, BY REGION
TABLE 17 ASIA-PACIFIC EYE TRACKING MARKET, BY TYPE
TABLE 18 ASIA-PACIFIC EYE TRACKING MARKET, BY APPLICATIONS
TABLE 19 ASIA-PACIFIC EYE TRACKING MARKET, BY VERTICALS
TABLE 20 ASIA-PACIFIC EYE TRACKING MARKET, BY REGION
TABLE 21 REST OF WORLD EYE TRACKING MARKET, BY TYPE
TABLE 22 REST OF WORLD EYE TRACKING MARKET, BY APPLICATIONS
TABLE 23 REST OF WORLD EYE TRACKING MARKET, BY VERTICALS
TABLE 24 REST OF WORLD EYE TRACKING MARKET, BY REGION
LIST OF FIGURES
FIGURE 1 RESEARCH METHODOLOGY
FIGURE 2 EYE TRACKING MARKET: BY TYPE (%)
FIGURE 3 EYE TRACKING MARKET: BY APPLICATIONS (%)
FIGURE 4 EYE TRACKING MARKET: BY VERTICALS (%)
FIGURE 5 EYE TRACKING MARKET: BY REGION (%)
FIGURE 6 NORTH AMERICA EYE TRACKING MARKET, BY TYPE (%)
FIGURE 7 NORTH AMERICA EYE TRACKING MARKET, BY APPLICATIONS (%)
FIGURE 8 NORTH AMERICA EYE TRACKING MARKET, BY VERTICALS (%)
FIGURE 9 NORTH AMERICA EYE TRACKING MARKET, BY REGION (%)
FIGURE 10 EUROPE EYE TRACKING MARKET, BY TYPE (%)
FIGURE 11 EUROPE EYE TRACKING MARKET, BY APPLICATIONS (%)
FIGURE 12 EUROPE EYE TRACKING MARKET, BY VERTICALS (%)
FIGURE 13 EUROPE EYE TRACKING MARKET, BY REGION (%)
FIGURE 14 ASIA-PACIFIC EYE TRACKING MARKET, BY TYPE (%)
FIGURE 15 ASIA-PACIFIC EYE TRACKING MARKET, BY APPLICATIONS (%)
FIGURE 16 ASIA-PACIFIC EYE TRACKING MARKET, BY VERTICALS (%)
FIGURE 17 ASIA-PACIFIC EYE TRACKING MARKET, BY REGION (%)
FIGURE 18 ROW EYE TRACKING MARKET, BY TYPE (%)
FIGURE 19 ROW EYE TRACKING MARKET, BY APPLICATIONS (%)
FIGURE 20 ROW EYE TRACKING MARKET, BY VERTICALS (%)
FIGURE 21 ROW EYE TRACKING MARKET, BY REGION (%)