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Increasing usage of smart sensors is a major factor driving revenue growth of the eye tracking market
— Emergen Research
VANCOUVER, BC, CANADA, June 27, 2023/EINPresswire.com/ — The global eye tracking market size was USD 802.6 Million in 2022 and is expected to register a revenue CAGR of 32.5% during the forecast period, according to latest analysis by Emergen Research. Increasing usage of smart sensors in various industries is a major factor driving the market revenue growth.
One of the recent trends observed in eye tracking market is increasing use of eye tracking technology in the automotive industry. Eye tracking technology is being used in development of Advanced Driver Assistance Systems (ADAS) and autonomous vehicles to monitor driver behavior and attention, detect drowsiness and distraction, and improve overall safety on the road. Currently, 92.7% of new vehicles in the U.S. have at least one ADAS and by 2043, 95% of all registered vehicles in the U.S. will be equipped with most ADAS. Eye-tracking technology has been extensively used in various industries such as automotive, healthcare, retail, and others. Eye tracking devices and related algorithms are being used to gain insights into retail store consumer behaviors. These devices and algorithms help how much consumers spend monitoring or browsing a product.
The latest market intelligence study, called “Global Eye Tracking Market Forecast to 2028,” jots down some of the most prominent growth potentials of the global Eye Tracking market. The report is primarily targeted at the industry stakeholders looking to capitalize on this report’s contents to make improved business decisions. The report is further intended to help the readers gain vital insights into the global market, particularly the prevailing growth opportunities and competitive scenario. The insightful data & information provided by this report are gathered from various primary and secondary sources.
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Some Key Highlights from the Report
The optical tracking segment accounted for largest revenue share in 2022. Optical tracking systems are continuously being used in Virtual Reality (VR) and Augmented Reality (AR) devices due to their ability to capture both active and passive motion of a full body, which enables VR to gather additional information about position of a participant. In addition, these tracking systems do not require wired attachments. Less requirement for physical connections makes them more attractive to users. Optical also enables many entities to be tracked at the same time.
The hardware segment is expected to account for a significantly large revenue share during the forecast period. The hardware components of an eye-tracking system typically consist of a head-mounted vision-capturing device equipped with cameras and sensors, as well as eye-tracking glasses or lenses. The data captured by vision trackers is then stored on an external or internal storage device. On the other hand, the software is integrated into a remote desktop, which receives data from the head-mounted system.
The healthcare segment is expected to account for largest revenue share over the forecast period. In the healthcare industry, researchers and businesses are actively creating novel methods to diagnose and identify diseases and disabilities, while also enhancing healthcare efficiency. The use of eye tracking technology and attention computing can facilitate innovation and promote better healthcare globally.
Market in North America is expected to register a significantly fast revenue growth rate during the forecast period. The demand for eye tracking technology in this region is driven by its widespread adoption in sectors such as healthcare, automotive, law enforcement, and retail. This growth is supported by region’s focus on research and development, advanced infrastructure, and technological advancements by leading market players. Particularly, the United States and Canada, as highly developed countries, have played a crucial role in driving the market revenue growth. The United States, in particular, holds largest revenue share in the regional market, attributed to the extensive adoption of smart sensors and contactless biometric systems.
On July 01, 2022, Tobii, the global leader in eye tracking and pioneer of attention computing, announced its partnership with Sony. Tobii’s innovative eye tracking technology will be featured in the upcoming PlayStation VR2 headset.
The leading contenders in the global Eye Tracking market are listed below:
Tobii, SR Research Ltd., iMotions A/S, gazepoint, EyeTech Digital Systems, Smart Eye, EyeTracking, Mirametrix inc., Seeing Machines, LC Technology Solutions, and Bitbrain Technologies
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Emergen Research has segmented the global eye tracking market on the basis of type, component, location, end-use, and region:
Type Outlook (Revenue, USD Million; 2019-2032)
Eye-Attached Tracking
Optical Tracking
Electrooculography
Component Outlook (Revenue, USD Million; 2019-2032)
Hardware
Software
Location Outlook (Revenue, USD Million; 2019-2032)
Remote
Mobile
Regional Outlook of the Eye Tracking Market
The global Eye Tracking market has been categorized into several important geographical regions, including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In this section, authors of the report have studied the presence of the global Eye Tracking market across major geographies. Moreover, the estimated market share, market size, revenue contribution, sales network and distribution channel, and other crucial elements of each regional segment have been detailed in the report.
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Key reasons to buy the Global Eye Tracking Market report:
The latest report comprehensively studies the global Eye Tracking market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
The report offers an insightful analysis of the regional outlook of the market.
It offers a detailed account of the end-use applications of the products & services offered by this industry.
The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.
The report also provides an extensive analysis of the key market elements, such as drivers, constraints, opportunities, limitations, threats, and micro and macro-economic factors. The exhaustive SWOT analysis, Porter’s Five Forces analysis, feasibility analysis, and investment return analysis included in the report are intended to help the reader tactfully formulate business growth strategies. Strategic recommendations for the established market players assist them in fortifying their financial positions in the market.
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