As per Market Research Future (MRFR), the global eye tracking market is projected to reach approximately USD 1,432 million with a CAGR of 29% from 2017 to 2023 (forecast period). The report on the global eye tracking market discusses and investigates the effect of the outbreak of COVID-19 on the global eye tracking market, including potential opportunities and challenges, drivers, and risks. The study explains the impacts of COVID-19 on the global eye tracking market and forecasts business growth based on various scenarios.
Eye tracking technology is a technique that provides full image quality when the image reflects on the retina. Eye tracking devices also capture data in the fastest way that is cost-effective and provide open-source software platforms that are expected to drive the eye-tracking technology industry. It also offers real-time visual processing that will increase the demand for virtual reality gaming software and hardware and is expected to generate new growth opportunities in the immediate future.
Market Dynamics
The study shows that the eye-tracking standard feature is incorporated with the latest generation of smartphones, laptops, and desktop monitors that are in high demand in the communications field. Also, eye tracking sensors support users and devices as they use less bandwidth for communication. Companies such as Google and Facebook have absorbed eye tracking startups EyeFluence and Eye Tribe, respectively, and are expected to incorporate these technologies into their future products.
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Market Segmentation
The global eye tracking market has been segmented on the basis of type, applications, and verticals.
On the basis of type, the global eye tracking market has been segmented into mobile, remote, and others.
On the basis of applications, the global eye tracking market has been segmented into human-computer interaction, virtual reality, research, and others.
On the basis of verticals, the global eye tracking market has been segmented into aerospace, retail, automotive, government & defense, and others.
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Regional Analysis
The regional analysis of the global eye tracking market is being studied for regions such as Asia Pacific, North America, Europe, and the Rest of the World.
North America is one of the most prominent regions in the world in terms of the largest market share on the eye tracking market. In North America, eye-tracking is becoming a part of the VR API, an open standard under development backed by Oculus, Google, NVIDIA, and others. In the forecast years, Europe is expected to develop significant players, for example, SMI, introduce eye-tracking technology to both stand-alone VR head-mounted displays and smartphones. This increasing investment by major players in Europe is expected to drive the eye-tracking market in the region. The APAC area has the highest CAGR due to technological innovations in eye-tracking devices and a decline in the prices of eye-tracking devices in the region.
Key Players
The industry leaders in the global eye tracking market are Facebook Inc. (US), Seeing Machines Ltd. (Australia), Ergoneers GmbH (Germany), Tobii AB (Sweden), SR Research Ltd. (Canada), PRS IN VIVO (US), Apple Inc. (U.S), Smart Eye AB( Sweden), EyeTech Digital Systems (U.S) and Lumen Research Ltd. (UK) among others.
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