Eye Tracking System Market expanding at a CAGR of 26.6% between 2018 and 2028

Published: Tue Mar 19 2019

In order to study the various trends and patterns prevailing in the concerned market, Market Research Reports Search Engine (MRRSE) has included a new report titled "Eye Tracking System Market" to its wide online database. This research assessment offers a clear insight about the influential factors that are expected to transform the global market in the near future.

Eye tracking systems provide a way to study human eye movements and derive insights on the underlying processes that influence human decision making. Gaze point, fixation and saccades are some of the common terms used in eye tracking data studies. Gaze point refers to a point where vision is directed. A cluster of such gaze points for a given period of time constitutes a fixation, which can provide insights into measuring visual attention. The movement of eyes between fixations is known as saccades. Given the fact that eye movement is not always under complete volitional control of humans, eye tracking system data, such as fixation and saccades, provide unique insights into the relationship between the eyes and the human mind.

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Traditionally, the application of eye tracking systems was primarily in academic and scientific research, where they were used to study how humans interact visually with the world and what insights can be derived from them to understand human cognitive processes. The marketing and advertising industry and the healthcare sector were the earliest adopters of the eye tracking system technology. Eye tracking systems gave a new way of communication to physically or mentally disabled patients and helped improve quality of life for them and families and care givers. The marketing and advertising industry leveraged the unique insights provided by eye tracking system data to understand customer behavior and reactions to their product quality, placement and promotion techniques. Unbiased customer response data was now available from eye tracking systems, which de-layered decision making processes and provided insights on how customers see products. These remain the core applications markets today for eye tracking systems. However, with evolving technology, new use cases are coming up and promise to provide lucrative new opportunities for the eye tracking system market. Foremost among such new use cases for eye tracking systems are smartphones, gaming and AR/VR (augmented reality/virtual reality) segment. Smartphones have become ubiquitous today and integrating eye tracking system in smartphones has become a USP for high-end devices. In combination with motion tracking, eye tracking systems have revolutionized the way gaming sector has developed from stationary consoles to active involvement gaming. The development of AR/VR headsets and their use in a variety of applications is a huge potential market for eye tracking systems. Eye tracking system technology helps create unprecedented immersive experiences in AR/VR sector and also enhances technology developments of AR/VR headsets with benefits such as foveated rendering.

The global Eye Tracking System market is estimated to reach US$ 4.5 Bn by the end of 2028, expanding at a CAGR of 26.6% between 2018 and 2028 . The global Eye Tracking System market is anticipated to represent incremental opportunity of more than US$ 4 Bn over the forecast period and thus, is expected to be a high value – high growth market.

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The global Eye Tracking System market is expected to witness high growth rate during the forecast period. The unique benefits offered by eye tracking systems for consumer behavior research and academic & scientific research are driving the eye tracking system market across the globe. Additionally, increasing demand for assistive communication devices for patients suffering from ALS, ALS, Autism, Rett syndrome, Muscular dystrophy, Cerebral palsy, Aphasia, Parkinson’s and other diseases is also helping eye tracking system market’s growth. While countries, such as US, UK, Germany, France, and Canada, have solid eye tracking system market demand, new growth avenues are opening up in countries, such as China, Japan, South Korea and Mexico, for eye tracking systems.

Some of the prominent players reported in the global Eye Tracking System market study include Tobii AB, SR Research Ltd, LC Technologies, EyeTech Digital Systems, and Seeing Machines Ltd, among others. In recent times, large technology giants, such as Apple, Facebook, Microsoft, Lenovo, HTC and Google, have either been acquiring promising eye tracking system companies or collaborating with them to access eye tracking system technology for use in their own products.

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