Eye Tracking Market

Global Eye Tracking Market Size & Growth (2019 - 2024)

Globally, the size for Eye Tracking Market is estimated to grow at a remarkable CAGR of 27.4% during the forecast period.

In research institutes, this eye tracking is used on the visual system as an input device to provide interaction between the human and computer. In the commercial sector, eye tracking has great deals advertisements, sponsorships, and others. Artificial intelligence plays a vital role in representing recorded data graphically. The first eye tracker is a special type of contact lens with an embedded mirror or magnetic field sensor which is attached to the eye.

An increase in the use of eye-tracking technology in the military and aerospace sectors fuel the growth of the global Eye Tracking Market. Growing adoption of artificial intelligence, virtual reality, and augmented reality in consumer electronics & other commercial utilization areas are poised to help the market profit tremendous momentum over the coming years. The North American region ruled the market in 2018 and is supposed to retain its dominance over the forecast period.

The fast growth of eye tracking in new pertinence such as lie-detecting systems, video gaming industry, and cognitive testing, also in aeronautics industries and R&D in the field of augmented reality, virtual reality, and others are propelled to drive the market in near future.

Rise in the capital income in both developed and developing countries is likely to outshine the demand of the market. Growth opportunities for the market lie in the adoption of eye trackers in assisting communication applications. Increasing demand for the production of eye trackers especially from the aviation industry is bolstering the growth of the Eye Tracking Market.

Increasing demand for transportation along with the rising population is majorly propelling the demand of the market. Rise in the disposable income in urbanized areas is driving the growth of the market to the extent. In addition, the rise in the sales of the products through advertisement is accelerating the growth of the market.

However, the high cost for manufacturing final products due to fluctuating prices of raw materials is slowly restraining the demand of the market. Rapid changes in economic strategies are also impeding the demand of the market. Lack of skilled persons in monitoring the systems efficiently is limiting the growth of the Eye Tracking Market.

Further, the growth in automation and active acceptance of robotics technology across the industry verticals restrain the Eye Tracking Market growth.

Key happenings in this market in the recent past:

• In January 2017, Eye Tech Digital Systems, Inc., in partnership with Quantum Rehab, launched a visually controlled wheelchair. This is useful for individuals who cannot use a manual control system. Vision Tracker technology is mounted directly on a tablet or desktop computer and is integrated into the wheelchair, allowing the user to control the wheelchair-using visual movements.
• The Eye Tracking Market has recently experienced dramatic growth due to the increasing adoption of visual capture technology in the commercial sector, especially in industry and areas. These industries include retail, healthcare, research, automotive, consumer electronics, government and defense, security and surveillance.
• In the Eye Tracking Market surge in demand for contactless biometrics is expected to play an essential role in business development. Biometric systems are primarily used for prison management systems and security purposes in the defense sector. Defense organizations and police are deploying iris biometric scanners to identify individuals and enhance security measures.
• The Washington DC Maine Correctional Service has implemented iris scanning, which is a contactless technology that is much faster than fingerprint scanning. This technology is used to track prison inmates, verify their identity before granting access to restricted locations, and verify the identity of visitors.
• Eye Tracking Market in which the development of medicine and healthcare, and the growing number of e-book readers, may drive the expansion of the global eye tracking market.

REPORT COVERAGE:

This research report on the Global Eye Tracking Market has been segmented and sub-segmented into the following categories and analyzed market size & forecast for each segment until 2024.

Eye Tracking Market - By Component

• Hardware
• Software

On the basis of component, the Hardware segment is leading with the highest shares of the market. Rise investments in the healthcare centers with the latest equipment from private and public organizations is fueling the growth of the market.

Eye Tracking Market Analysis – By Product Type

• Remote Eye Tracking
• Mobile Eye Tracking

On the basis of product type, the Remote eye tracking type is growing at a faster rate from the past few years. The emergence of cloud-based technology in every application is lavishing the growth of the market.

Eye Tracking Market Analysis - By Application

• Human-Computer Interface (HCI)
• Medical
• Virtual Reality
• Research & Development

Eye Tracking Market Analysis – By Vertical

• Communication
• Marketing
• Entertainment
• Others

Eye Tracking Market Analysis - By Region

• North America - US, Canada, Mexico and Rest of North America
• Europe -  UK, France, Spain, Germany, Italy,  Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic and Rest of Europe
• APAC - India, China, Japan, South Korea,  Australia, New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore and Rest of APAC
• Latin America - Brazil, Argentina, Chile and Rest of Latin America
• Middle East and Africa -  KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, rest of MEA

Regionally, North America is accounted for holding the largest shares of the market by owing to the quick adoption of the advanced technology and also the launch of specific applications in favor of the end-users.

The North America region ruled the market with a revenue share of just over 48% in 2018. It is supposed to retain its dominance over the forecast period. The U.S. is the largest revenue contributor in the region owing to driving the adoption of smart sensors and contactless biometric systems.

The Asia Pacific is following North America is leading with dominant shares of the market with the rise in the scale of automotive industries and also increasing the consumption rate of the electronic goods. Europe is to have a significant growth rate in foreseen years by increasing awareness over artificial intelligence in real-time applications. The Middle East and Africa are inclined to have huge growth opportunities in the coming years.

A bulk of prominent industry players are based in the U.S., Germany and China, and most of the developments are occurring in these regions.

Some of the noteworthy players in the Global Eye Tracking Market profiled in this report are:

1. Tobii AB (Sweden)
2. SensoMotoric Instruments GmbH (Germany)
3. SR Research Ltd. (Canada)
4. Seeing Machines (Australia)
5. EyeTracking, Inc. (US)
6. PRS IN VIVO (US)
7. Smart Eye AB (Sweden)
8. LC Technologies, Inc. (US)
9. Ergoneers GmbH (Germany)
10. EyeTech Digital Systems, Inc. (US)