Global Eye Tracking Market to record 24.5% CAGR through 2027

December 21, 2020

According to the research report titled ‘Global Eye Tracking Market Size study with COVID-19 Impact, by Offering (Hardware, Software and Research & Consulting Services), by Tracking Type (Remote Tracking and Mobile Tracking), by Application (Assistive Communication, Human Behavior & Market Research and Others), by Vertical (Retail & Advertisement, Consumer Electronics, Healthcare & Research Labs, Government, Defense, and Aerospace, Automotive & Transportation and Others) and Regional Forecasts 2020-2027’, available with Market Study Report LLC, global eye tracking market was worth USD 295.6 million in 2019 and is anticipated to record a y-o-y growth rate of 24.5% during 2020-2027.

Worldwide eye tracking market growth is driven by increasing technology penetration in transportation sector, growing adoption in advertisement vertical and for consumer research, and surging demand for assistive communication.

For those unversed, eye tracker is a device used to study and gauge the position and moment of the eye. The device is positioned on the head and is connected to the computer. It monitors activities like looking, blinking, ignoring, and noticeable reaction of the pupil to various stimuli.

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The coronavirus pandemic has adversely affected global eye tracking industry as several research labs, advertising firms, and retail stores are non-operational in many economies presently, which has further plunged the demand for eye-tracking technology-based products and services.

Moreover, growing gesture recognition sector is anticipated to negatively impact market share over the study period. Although, increasing advancements and other planned alliances by major contenders are poised to stimulate the global eye tracking industry outlook.

Citing an instance, Tobii Pro AB, in June 2020, introduced its next-gen wearable eye tracker, Tobii Pro Glasses 3, which has cameras and illuminators in the glass, allowing better eye tracking performance in dynamic environments with a subtle design. 

Established companies in global eye tracking industry are Iscan Inc., Ergoneers GmbH, Eyegaze Inc., PRS IN VIVO, Eyetracking Inc., Smart Eye AB, EyeTech Digital Systems Inc., SR Research Ltd., Seeing Machines Ltd., and Tobii AB.

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