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Eye Tracking Market Overview
The surging demand for the eye tracking technology in the healthcare domain, rising adoption in consumer electronics products, and increasing penetration in the automotive industry are the key factors driving the global eye tracking market.
Eye tracking refers to a technology that measures the motion of an eye, relative to either the head or the point of the eye gaze. It tracks the eye movement and eye position, including pupil dilation, for revealing reactions that might get unreported.
In terms of offering, the eye tracking market is categorized into hardware, software, and services. Among these, the hardware category held the largest share in the market in 2019, due to the increasing demand for eye tracking hardware in the healthcare, consumer electronics, and several other sectors.
On the basis of type, the eye tracking market is bifurcated into remote and mobile. Of these, the remote bifurcation held the larger share in the market in 2019. Remote eye tracking devices are easily configurable and cheaper as compared to the mobile variants. Due to this, the demand for remote eye tracking is increasing globally. The mobile category is expected to register faster growth during the forecast period (2020-2030). This can be attributed to the surging demand for mobile eye tracking in the retail and entertainment sector, as it offers more degrees of freedom, for recording the head and eye movement.
In terms of vertical, the eye tracking market is categorized into IT & telecom, media & entertainment, retail, healthcare, consumer electronics, automotive, and others; wherein ‘others’ includes aerospace & defense and education. Among these, the healthcare category held the largest share in 2019, due to the increasing adoption of the eye tracking technology in the diagnosis of problems with eye movements, pupillary position, and other ophthalmic issues. Automotive is expected to be fastest growing category during the forecast period, and this can be ascribed to the increasing demand for driver monitoring systems, for the tracking of eyelid movement and gaze direction, to reduce accidents on the road.
Based on region, North America is projected to hold the largest eye tracking market share throughout the forecast period. This is ascribed to the increasing use of advanced technologies for the diagnosis of several diseases and strong focus toward understanding the human behavior, such as purchasing habits and search activities, in the retail sector. However, Asia-Pacific (APAC) is expected to be the fastest growing market during the forecast period, owing to the increasing focus toward improving the passenger safety in vehicles as well as growing awareness about the benefits of eye tracking in various verticals.
Eye Tracking Market Dynamics
The increasing demand for the eye tracking technology in augmented reality (AR)/virtual reality (VR) devices is a key trend. AR/VR devices require proper position of the eyes, for maintaining the image quality and optical sharpness. Using the eye tracking technology in these devices can help in guiding the user in adjusting the device, if it is out of position. It also helps in optimizing the image quality, due to which the players in the eye tracking market are increasingly incorporating the eye tracking technology in AR/VR devices. For instance, in 2018, Tobii AB, in collaboration with Lumus Ltd., announced plans to incorporate the eye tracking technology in the Lumus DK50 AR development kit. With this partnership, Tobii AB aims to offer its eye tracking technology enabled AR/VR devices to the users.
The surging demand for the eye tracking technology in the healthcare sector is a major factor driving the growth of the eye tracking market. Eye tracking is used in hospitals for the determination of Parkinsonian syndromes, monitoring patients with dyslexia, and assisting in the diagnosis of multiple sclerosis (MS). With the increasing prevalence of MS and various other diseases, the demand for eye tracking in the healthcare domain is growing globally. Due to the rising smoking prevalence and air pollution levels, the cases of MS are surging across the globe, mainly in developed countries. According to the World Health Organization (WHO), the higher-income countries in the regions of Europe and North America have a higher prevalence of MS as compared to those in other regions. Hence, with the rising medical issues among the populace, the demand for eye tracking in the healthcare sector is driving the market.
Eye Tracking Market Competitive Landscape
Due to the presence of various players, the eye tracking market is highly competitive in nature, with the players increasingly launching new products to increase their presence. For instance, in 2019, Tobii AB launched I-series, a flagship communication device, which can be easily controlled by a computer and has a programmable button, for better touch and eye tracking movement.
Some of the key players operating in the global eye tracking market are Tobii AB, Seeing Machines Limited, EyeTech Digital Systems Inc., Smart Eye AB, Eyegaze Inc., Ergoneers GmbH, ISCAN Inc., Gazepoint, Apple Inc., Pupil Labs GmbH, and Mirametrix Inc.
The report will also provide a country-wise analysis. Some of the major countries that are covered in the report are the U.S., Canada, the U.K., Germany, France, Italy, Spain, Russia, Poland, China, Japan, India, South Korea, Australia, Thailand, Indonesia, Malaysia, Singapore, Mexico, Brazil, Argentina, Colombia, Peru, South Africa, Turkey, the U.A.E., Saudi Arabia, Israel, Qatar, and Nigeria.
Eye Tracking Market Segmentation
Market Segmentation by Offering
Market Segmentation by Type
Market Segmentation by Vertical
Market Segmentation by Geography