Eye Tracking Market is expected to demonstrate a CAGR of 25.3% by 2030
The Global Eye Tracking Market size is estimated to be USD 0.34 billion in 2019 and is predicted to reach USD 4.06 billion by 2030 with a CAGR of 25.3% from 2020-2030. Eye Tracking is a system which analyzes the direction of gaze and eye movement with respect to head. Eye tracking involves the various activities such as eye movement, blinking, reaction of pupil to different activities. It is an advanced sensor based technology which gives unique insight to human behavior. It also allows the hands free interaction and creates new experiences to the user.
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There have been various technological advancements taking place over the forecast period coupled with rapid developing infrastructure. Furthermore, increased use of sensor coupled with increase in automation in various industries is also expected to fuel the growth of eye tracking market in the near future.
The other factors include increased adoption of eye tracking in various industries with wide application coupled with increased use of smart devices on a global level. However, high cost of advanced devices and sensors are expected to hamper the market growth. Moreover, increase in research and development activities coupled with innovation in different areas are expected to create numerous opportunities in the eye tracking market over the forecast period.
Market Segmentations and Scope of the Study:
The global eye tracking market share is analyzed on the basis of type, application, industry vertical and geography. On the basis of type, the market is segmented into Head-mounted eye trackers and Remote eye trackers. On the basis of application, the market is divided into Assistive communication, Academic research, Consumer behavior research, and Usability testing. On the basis of industry vertical, the market is divided into Retail, Automotive, Healthcare, Military & Aerospace, and Others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
Geographical Analysis
North America is expected to hold the major market share over the forecast period owing to the increase in technological advancement and rapid developing infrastructure coupled with increase in automation and increased use of sensors are further expected to drive the growth of eye tracking market over the forecast period.
Asia Pacific is further expected to show significant growth with gradual increase in market share owing to the increase adoption of eye tracking in different industries with wide applications with constant increase in the adoption of new technology are further expected to support the marker growth.
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The eye tracking market, which is highly competitive, consists of various market players. Some of the major market players include LC technologies, Tobii AB, Ergoneers GmbH, Eyetech Digital Systems, Mirametrix Inc., Smart Eye AB., Seeing Machines, Pupil Labs GmbH, Gazepoint and SR Research Ltd. among others.
There have been various developments taken in the past few years and will further takes place in near future which contributes the overall market growth. For instance, Seeing Machines has collaborated with L3 Commercial Aviation, to provide Seeing Machines’ integrated eye tracking capabilities into their Full Flight Simulator (FFS). Seeing Machines has worked with L3 to develop the solution featuring Seeing Machines’ leading eye tracking capability to be deployed into a new Boeing 787 FFS for a major Australian airline.