Eye Tracking Market, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI4899
Eye Tracking Market size is expected to account for a considerable growth rate during the forecast period owing to a rise in demand for recording & analyzing visual behavior with accuracy and the growing adoption of Virtual Reality (VR), Augmented Reality (AR), & data analytics equipment. It offers various features such as objective & quantifiable data, remote access, a high level of detail allows visual representation, and easily integrates with other technology such as ECG and others in consumer electronics and commercial applications. Increasing utilization and growing investments in wearable technology will result in rising growth opportunities for the market in the coming years.
Growing demand for Augmented Reality (AR) and Virtual Reality (VR) will fuel the market growth. Enhanced image quality, a better user experience, reduction in eye strain, and improved focus are factors accelerating their demand in consumer electronics. Eye tracking technology is easy to integrate with AR/VR devices, such as laptops and headgears, among others. Companies are continuously involved in the development of new products, which will further boost the demand for eye tracking systems in the coming years.
The increasing utilization of gesture control technologies is projected to restrain the eye tracking market expansion over the forecast timeframe. Reduction in hygiene concerns, growing digitalization in various industries, and the presence of touchless sanitary solutions, among others will affect the industry growth. Moreover, a halt in operations and supply chain due to the imposition of lockdown across the globe during the covid-19 pandemic is further restraining the market value. The supply chain disruption has created a major issue for manufacturers as it has hampered new product development and R&D initiatives.
Mobile eye tracking is likely to experience exponential growth during the forecast timeline. Mobile tracking offers free eye & head movements and better user experience with free movements. Remote eye tracking camera can be embedded in laptops, monitors, and kiosks, providing minimum loss of eye tracking data. Companies are also continuously performing R&D activities for mobile eye tracking to cater to the high demand for various computing devices.
The software segment in the eye tracking market is predicted to witness significant growth through 2027 led by an increase in the use of tools and devices for real-time monitoring & controlling of the data and a rise in the integration of Bluetooth, artificial intelligence, IoT, & others. The integration of AI technology in software suits of mobile tracking can rise the growth opportunities of critical medical applications as it eases the training patterns of large data sets. The growing demand for contactless devices for security, medical, and others that incorporate software assistance for proper functioning will accelerate the demand for software suite in the market.
The consumer electronic segment is anticipated to dominate the market till 2027 impelled by the rising demand for electronics such as assistive communication devices for physically impaired persons and improvements in the tracking technology in smart consumer durables. In September 2020, Control Bionics launched multi-modal Augmentative and Assistive Communications (AAC) devices, especially for persons with speech and motor disorders. Adding to this, smartphone manufacturers are also inclined toward the adoption of eye tracking technology with AI to enhanced customer experience.
North America eye tracking market will observe substantial growth from 2020 to 2027 on account of strong & favorable economic conditions and the rising acceptance of the latest technologies, such as 5G & IoT, which increases the usage of smart wearable devices. The strong presence of key players will propel the market demand in this region. For example, Tobii Pro, a leader in the market, provides several solutions related to gaming, virtual reality, scientific research, and human & industry performance, among others.
There are several companies involved in the market including Tobii AB, MacRumors.com, Argus science LLC., Eyetech Digital Systems, Mirametrix, Inc., Pupil Labs GmbH, Gazepoint, Smart Eye, sr-reearch.com, MaCRumors.com LLC, and SemoMotoric, among others. Industry leaders are focusing on updating and innovating their eye tracking systems to deliver high competitiveness among other players.
The market research report on eye tracking includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2016 to 2027 for the following segments:
Market, By Tracking
- Remote Tracking
- Mobile Tracking
Market, By Offering
- Research & Consulting Services
Market, By Industry Verticals
- Retail & Advertisement
- Consumer Electronics
- Healthcare & Research Labs
- Government, Defense, and Aerospace
- Automotive & Transportation
The above information has been provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa (MEA)
- South Africa
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