New York, US, April 26, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Eye-tracking Market Research Report Information By Type, By Applications, By Verticals, And By Region – Market Forecast Till 2030, the market is anticipated to acquire a valuation of approximately USD 8.6 Billion by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 28.00% during the assessment timeframe.
Eye Tracking Market Insights:
Eye tracking technology is used to track and monitor the movements of the eyes and has various applications across industries such as healthcare, automotive, gaming, and advertising.
The increasing demand for eye tracking technology in various industries such as healthcare, gaming, and advertising is expected to drive the growth of the market. Additionally, the advancements in technology such as the development of wearable eye tracking devices are also expected to contribute to the growth of the market. However, the high cost of eye tracking devices and the lack of awareness about the technology in some regions may hinder the growth of the market.
Key Players:
Some of the key players operating in the Eye Tracking Market include-
- Tobii AB
- EyeTracking Inc.
- SensoMotoric Instruments GmbH
- Seeing Machines
- Smart Eye AB
- EyeTech Digital Systems Inc.
- LC Technologies
- Pupil Labs GmbH.
These companies are focusing on product innovation and partnerships to expand their market presence.
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Report Scope:
| Report Metric | Details |
| Revenue Forecast in 2030 | USD 8.6 Billion |
| Growth Rate | CAGR of 28,00% from 2022 to 2030 |
| Base Year | 2021 |
| Study Period | 2022-2030 |
| Key Market Opportunities | The increased use of mobile phones, laptops, and desktops. |
| Key Market Drivers | The rising demand in the field of healthcare and medicine Increase in the number of eBook readers |
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Eye Tracking Market Drivers:
One of the major drivers of the Eye Tracking Market is the increasing demand for eye tracking technology in the healthcare industry. Eye tracking technology is used for diagnostic and therapeutic purposes in various medical fields such as neurology, ophthalmology, and psychiatry. The technology is also used in clinical research and drug development. Additionally, the increasing demand for eye tracking technology in the automotive industry for driver monitoring systems and in the gaming industry for virtual reality applications is expected to drive the growth of the market.
Challenges:
One of the major challenges faced by the Eye Tracking Market is the high cost of eye tracking devices. The cost of eye tracking devices can be a barrier to adoption, especially in regions with lower levels of economic development. Additionally, the lack of awareness about the technology in some regions may also hinder the growth of the market.
Eye Tracking Market Segmentation:
The Eye Tracking Market is segmented based on type, application, and region. Based on type, the market is segmented into remote eye tracking and mobile eye tracking. Based on application, the market is segmented into healthcare, automotive, advertising and consumer behavior research, gaming, and others.
Regional Analysis:
The Eye Tracking Market is segmented into North America, Europe, Asia-Pacific, and the rest of the world. North America is expected to dominate the market during the forecast period, owing to the presence of major market players and the increasing adoption of eye tracking technology in various industries such as healthcare and gaming. The Asia-Pacific region is expected to witness significant growth during the forecast period, owing to the increasing adoption of eye tracking technology in the automotive industry.
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Industry Trends:
One of the major trends in the Eye Tracking Market is the development of wearable eye tracking devices. Wearable eye tracking devices are becoming increasingly popular due to their convenience and portability. Additionally, the integration of eye tracking technology with virtual reality and augmented reality is expected to create new opportunities in the market.
Recent Developments:
In June 2021, Tobii AB announced the launch of Tobii Dynavox PCEye Plus, a new eye tracking device designed for individuals with physical disabilities. The device is intended to help individuals with limited mobility to communicate and access digital devices using their eyes.
In May 2021, EyeTech Digital Systems Inc. announced the launch of EyeOn, a new eye tracking software platform designed for use in virtual and augmented reality applications. The platform is intended to enable developers to create immersive experiences using eye tracking technology.
opportunities in eye tracking market
The eye tracking market is rapidly growing, and with this growth comes new opportunities for both existing and new players. Some of the major opportunities in this market are as follows:
- Increasing demand for eye tracking technology in healthcare: The healthcare sector has emerged as a key growth area for eye tracking technology. It is increasingly being used in diagnosis and treatment of various medical conditions such as autism, schizophrenia, and Alzheimer's disease. As the demand for more accurate and non-invasive diagnostic tools continues to rise, the demand for eye tracking technology in healthcare is expected to grow significantly.
- Expansion of virtual and augmented reality applications: Eye tracking technology is a crucial component in virtual and augmented reality applications, as it provides a more immersive experience for users. As these technologies continue to evolve and expand into new markets, the demand for eye tracking technology is expected to grow in parallel.
- Growing demand for eye tracking technology in automotive industry: Eye tracking technology is also being used in the automotive industry for a variety of applications, including driver monitoring and assistance systems. With the increasing demand for safer and more efficient vehicles, the demand for eye tracking technology in this industry is expected to grow significantly in the coming years.
- Increasing adoption of eye tracking technology in market research: Eye tracking technology is also being increasingly adopted in market research to understand consumer behavior and preferences. With the increasing importance of customer insights in driving business decisions, the demand for eye tracking technology in market research is expected to grow significantly.
- Rising demand for eye tracking technology in gaming industry: The gaming industry is another area where eye tracking technology is being increasingly adopted. Eye tracking technology can provide a more immersive gaming experience, as it allows players to control games with their gaze. With the increasing popularity of e-sports and online gaming, the demand for eye tracking technology in this industry is expected to grow significantly.
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Overall, the eye tracking market is expected to see significant growth in the coming years, driven by the increasing demand for more accurate and non-invasive diagnostic tools in healthcare, the expansion of virtual and augmented reality applications, and the growing demand for safer and more efficient vehicles. Additionally, the increasing adoption of eye tracking technology in market research and gaming is expected to further fuel the growth of this market.
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