Newark, May 08, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 428.0 million eye tracking market will reach USD 4018.0 million by 2033. An important factor in the growth of the automotive industry is eye-tracking. The need for eye tracking is growing along with the need for automobiles and AI applications in the automotive industry. Over time, eye-tracking has supplanted more conventional methods as a crucial DMS technology because it enables gaze direction and eyelid movement analysis. For instance, Toyota beat out other market rivals by introducing an eye-tracking gadget under the Lexus brand. Additionally, Volvo intends to introduce its driver state assessment technology to the market. Eye-tracking gadgets are also in higher demand in the retail FMCG industry.
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Retail stores use eye-tracking equipment and associated algorithms to learn about customer behaviour. The algorithm determines the product arrangement that is most likely to encourage a customer to purchase at a store, the time a customer spends perusing a product, and the packaging that provides the most product information for the customer. The consumer electronics subsegment is anticipated to increase at a significant CAGR throughout the projected period.
North America will account for the largest market size during the forecast period.
The healthcare industry's increased use of cutting-edge technologies and research initiatives to better understand human behaviour are two main drivers of North America's explosive economic growth. The US has the biggest revenue share in the regional market since sensors and contactless biometric systems are widely used there.
The optical tracking segment dominated the market, with a revenue of USD 179.7 million.
The optical tracking segment dominated the market with the most significant revenue of USD 179.7 million. Optical tracking systems are in high demand in VR and AR due to their capacity to capture a complete body's active and passive motion. This gives VR access to more positional data about the user.
The hardware segment dominated the market with the most significant revenue of USD 252.5 million.
The hardware segment dominated the market with the most significant revenue of USD 252.5 million. The gear involved in eye-attached tracking consists of an external or internal storage device for recording and storing the data collected by the vision trackers, eye-tracking glasses or lenses, and a head-mounted vision-capturing system comprising cameras and sensors.
The remote segment dominated the market with the most significant revenue of USD 235.4 million.
The remote segment dominated the market with the most significant revenue of USD 235.4 million. A 3-dimensional study could require a more involved setup than a 2-dimensional study, which uses a remote sight capture device to examine respondents' conduct or observe an object.
The healthcare segment dominated the market with the most significant revenue of USD 107.0 million.
The healthcare segment dominated the market with the most significant revenue of USD 107.0 million. Initially, gaze capturing in healthcare was limited to a computer interface for patients with different motor disabilities and communication difficulties.
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Market Dynamics:
Drivers: The growing requirement for assistive transmission devices with eye-tracking centration
Eye-tracking-centered assisted transmission technologies are becoming increasingly important in the digital era. Our reliance on digital tools and interfaces for communication has increased dramatically as technology advances. These developments have created new avenues for interaction with the outside world for people with severe disabilities or restricted mobility. Particularly in assistive technology, eye-tracking technology has become a game-changer, providing a lifeline for those who depend on it for information access, communication, and device management.
Restraint: High cost
The expensive nature of eye-tracking technology has always been a major barrier to its broad adoption and usage. Although eye-tracking has proven useful in several industries, including gaming, medical, research, and assistive technology, the initial outlay has often been a major barrier.
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Some of the major players operating in the eye-tracking market are:
● SR Research Ltd.
● Gazepoint Research Inc.
● Smart Eye AB
● Mirametrix Inc.
● LC Technologies, Inc.
● Tobii AB
● iMotions A/S
● EyeTech Digital Systems, Inc.
● EyeTracking, Inc.
● Seeing Machines Limited
Key Segments cover in the market:
By Type:
● Electrooculography
● Optical Tracking
● Eye Attached Tracking
By Component:
● Software
● Hardware
By Location:
● Mobile
● Remote
By Application:
● Retail
● Automotive
● Healthcare
● Research
● Consumer Electronics
● Others
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About the report:
The global eye tracking market is analyzed based on value (USD million). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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