According to a new market research report published by Credence Research “Eye Tracking Market (By Component – Hardware, Software and Services; By Application: Retail, Healthcare, Automotive, Consumer Electronics, Defense and Aerospace and Others) – Growth, Future Prospects, Competitive Analysis and Forecast 2017 – 2025”, the global eye tracking market was valued at US$ 268.7 Mn in 2016 and is expected to grow at a CAGR of 27.5% during the forecast period from 2017 to 2025.
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Increasing demand for processing valuable data in applications such as healthcare, retail and automotive to analyze customer behavior is one of the key driver in this market. Additionally, incorporation of eye tracking technology into latest devices like virtual reality (VR)/augmented reality (AR) headsets and head mount devices is anticipated to fuel the growth of global eye tracking technology market. However, factors such as rising adoption of automation in vehicles and increasing usage of advanced robotics and smart factories have been working towards reducing human intervention in various operations. Thereby, technological advancements in other parallel technologies pose as a major challenge in the adoption of eye tracking technology. Nevertheless, investments towards innovative applications such as research and consumer behavior analysis offer immense growth opportunities for the overall eye tracing market in the following years.
The global eye tracking market is fairly consolidated with several leading providers of eye tracking technology offering basic hardware, software and services. However, there is also a large presence of numerous niche players which offer specialized solutions for innovative applications. Some of the key players in the eye tracking market include Tobii AB, SensoMotoric Instruments GmbH, SR Research Ltd., Seeing Machines Ltd., EyeTracking, Inc., PRS IN VIVO, Smart Eye AB, LC Technologies, Inc., Ergoneers GmbH and EyeTech Digital Systems, Inc.
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– Increasing incorporation of eye tracking technology in the consumer electronics and virtual reality segment
– Rising adoption of eye tracking solutions in research and advertising applications
Rise of applications in the automotive and healthcare sectors