Eye Tracking Market Insights | Key players: Tobii AB, SR Research Ltd., Seeing Machines, EyeTracking, Inc., PRS IN VIVO and Smart Eye AB
The report "Eye
Tracking Market by Offering, Tracking Type, Application (Assistive
Communication, Human Behavior & Market Research, AR/VR, Vehicles), Vertical
(Retail, Healthcare, Government, Automotive, Consumer Electronics), and
Geography - Global Forecast to 2023", The eye tracking market, in terms of
value, is expected to be valued at USD 1,376.5 Million by 2023, growing at a
CAGR of 27.4% between 2017 and 2023.
In terms of hardware
volume, the market is expected to register a shipment of 756 thousand eye
trackers by 2023. The eye-tracking technology is used to track the movement of
the eyes to gather information such as the focus and attention span of the
humans. This data is analyzed to gain insights into the human behavior, which
may be used in retail and automotive sectors. Eye tracking can also be used to
interact with computers and through them provide services to patients with
communication disabilities in the healthcare sector. There is an increased
demand for eye-tracking technology for personalized advertisement in the retail
sector; and assistive communication devices in the healthcare sector. The
growth potential of eye tracking in AR/VR applications and the consumer
electronics vertical is also considerable on account of technological
improvements in recent years.
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Assistive communication application held largest share of
eye tracking market in 2016
The assistive
communication application accounted for the largest share of the eye tracking
market in 2016. The market for this application is expected to be driven by the
increasing demand for eye-tracking-based assistive communication devices from
regions such as North America and Europe. The improvements in the technology
and the decreasing price range are expected to drive the wider adoption of
eye-tracking-based assistive communication devices in the healthcare vertical
all around the world.
Hardware offering expected to dominate eye tracking
market during forecast period
The hardware
offering is expected to hold the largest market share and dominate the eye
tracking market between 2017 and 2023. The eye-tracking hardware is an
important component in assistive communication applications and automotive
vehicles. Also, it adds considerable value to the eye-tracking-based market
research activities in the retail sector. Increasing improvements in the
features of the hardware offerings in the eye tracking market are expected to
promote the growth in this segment.
Remote eye tracking expected to dominate eye tracking
market during forecast period
Remote eye tracking
held the largest market share in 2016 and is expected to dominate the market
between 2017 and 2023. Remote eye trackers are easy to devise and configure,
and are cheaper than mobile eye trackers. Remote eye trackers are widely
considered to be more reliable as they can be easily deployed in a variety of
environments. These are preferred more in verticals such as healthcare, retail,
and automotive.
Healthcare and research labs vertical held largest share
of eye tracking market in 2016
The healthcare and
research labs vertical formed the largest market for eye tracking in 2016. The
eye tracking market in this vertical is largely driven by the need for
assistive communication for physically impaired people and the need to
understand and model the human behavior. A number of industry leaders, such as
Tobii AB (Sweden) and SR Research Ltd (Canada), cater to this vertical.
North America expected to hold largest market share and
market in APAC expected to grow at highest CAGR during forecast period
North America is
expected to hold the largest market share and dominate the eye tracking market
between 2017 and 2023. Healthcare and retail sectors were the prominent
contributors to the eye tracking market in North America. However, the eye
tracking market in APAC is expected to grow at the highest CAGR on the back of
the rapid adoption of eye-tracking technology in automotive and transportation,
and consumer electronics verticals.
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