New York, USA, April 25, 2023 (GLOBE NEWSWIRE) -- As per Research Dive’s latest report, the global 3D eye tracking software market is expected to garner a revenue of $1,778.4 million by 2031 and grow at a stunning CAGR of 27.8% in the 2022-2031 timeframe. This latest report, published by Research Dive, provides a brief outlook of the contemporary architecture of the 3D eye tracking software market including its major characteristics like growth drivers, growth opportunities, restraints, and hindrances during the analysis period of 2022-2031. All the important market figures are also provided in this report to help new entrants gain insights into the market easily.
Dynamics of the Market
Drivers: Growing ubiquity of mobile phones is predicted to boost the 3D eye tracking software market in the forecast period. Along with this, rising applications of 3D eye tracking software in the retail sector is predicted to help the market grow in the forecast period.
Opportunities: Growing utilization of eye tracking software in the automotive sector is anticipated to offer numerous growth opportunities for the market in the forecast period. Additionally, an increase in adoption of eye tracking software in AR/VR technology is expected to be the major factor behind the growth of the market in the forecast period.
Restraints: However, despite the various growth opportunities, the growing market for gesture technology is predicted to be a major restraint in the full-fledged growth of the 3D eye tracking software market.
Impact of Covid-19 on the Market
The novel coronavirus had wreaked havoc in the world. The lockdowns put in place to curb the virus affected various industries and their production cycles. The 3D eye tracking software market has been no exception to this phenomenon. Massive shortage of investments due to economic slowdown led to various companies halting their development of 3D eye tracking software. Furthermore, the demand for 3D eye tracking software from the automotive sector also dried up during the pandemic. All these factors ultimately affected the 3D eye tracking software and brought down its growth rate.
Segments of the Market
The report has divided the 3D eye tracking software market into certain segments based on type, application, end-use industry, and region.
Type: Mobile Sub-segment to be Highly Dominant
The mobile sub-segment is predicted to have a dominant market share by 2031. Rising commercialization of vision tracing technology and growing acceptance of 3D technology in smartphones are expected to help the market grow in the forecast period.
Application: Scientific Research Sub-segment to Have a Significant Market Share
The scientific research sub-segment is anticipated to be the highly lucrative one by 2031. Increasing scientific research to gain an insight into the cognitive processes underlying a wide variety of human behavior is expected to help the sub-segment register a substantial growth in the forecast period.
End-Use Industry: Retail Sub-segment to be the Highly Lucrative
The retail sub-segment is predicted to have a dominant market share by 2031. There has been an increase in the adoption of 3D eye tracking software by retailers as it helps them to implement the right store layout improvements, optimal product placement and signage, and increased sales. This increased adoption of 3D eye tracking software is expected to help the market grow in the forecast period.
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Market in the North America Region to be the Most Profitable
The 3D eye tracking software market in North America region is expected to witness immense growth by 2031. The rise in demand for 3D eye tracking software from various industries including advertisement, medical research & diagnosis, automotive, etc., is predicted to be the main growth driver of the market in the forecast period.
Prominent Market Players
Some leading market players of the 3D eye tracking software market are
- Eyeware Tech SA
- EYE SQUARE GMBH
- Smarteye
- Blink Technologies
- EYETECH DIGITAL SYSTEMS
- Visage Technologies
- Pupil Labs
- Gazepoint
- Tobii AB
- SR Research Ltd
These players are adopting various business strategies like mergers, acquisitions, and collaborations to gain a leading position in the global market.
For instance, in January 2022, OMNIVISION, a semiconductor manufacturing company, announced a collaboration with Tobii, a leading eye tracking hardware manufacturing company. This collaboration is aimed at developing advanced solutions for Metaverse. This collaboration is expected to help both the companies to pool their resources and experience and achieve their intended aim in the coming period.
Finally, the Research Dive report also summarizes many crucial aspects of the 3D eye tracking software market including SWOT analysis, latest strategic developments, financial performance of the key players, and product portfolio.
More about 3D Eye Tracking Software Market:
- How Can the Incorporation of 3D Eye Tracking Software Change the Future of Retail by Unlocking Consumer Insights?
- Global 3D Eye Tracking Software Market to Generate $1,778.4 Million by 2031, Due to Increased Applications of 3D Eye Tracking Software in Retail Sector
