Global eye tracking market is anticipated to reach over US $2,142 million by 2026, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2026.
Growing demand for consumer devices offering personalized experience has propelled research in eye tracking technology, accelerating market growth. The technology is combined with assistive communication devices to offer enhanced benefits associated with eye trailing.
As per the report, increasing penetration in the field of aviation, automotive, and entertainment has greatly influenced eye tracking industry growth. While, in 2017, the healthcare sector dominated the global eye tracking market in terms of revenue. The surging use of the technology in AR (augmented reality) and VR (virtual reality) applications, would expand eye tracking market size over the forecast period.
Emergence of autonomous vehicles, advanced artificial intelligence (AI), and smart factories might hamper eye tracking market growth. However, factors like innovation in eye tracking technology for interoperability, development of low-cost solutions, growing application in gaming & lie detection applications, and rising demand for contactless biometrics solutions would offer new growth impetus to eye tracking industry over the forecast period.
Speaking of the regional contribution, North America is anticipated to become the leading contributor to the global eye tracking market revenue over the projected timeline. North America also recorded the highest market revenue in 2017. Increasing demand from the retail and healthcare sectors currently drive regional market growth.
Apart from this, the growing adoption of contactless biometric solutions and smart sensors has augmented demand for eye tracking solutions across the region. The report cites that increasing penetration of mobile devices, and technological advancements will support regional industry growth. Moreover, growing applications of the technology in the region’s defense and healthcare sectors will offer new growth opportunities to the industry.
Based on the findings of the report, Asia-Pacific eye tracking market is anticipated to attain highest CAGR during the forecast period. The growth can be attributed to growing demand for assistive communication and other applications across the region’s healthcare sector.
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Renowned firms operating in eye tracking market include EyeTracking, Inc., EyeTech Digital Systems, Inc., LC Technologies, Inc., Tobii AB, Mirametrix Inc., Seeing Machines Ltd., Sensomotoric Instruments GmbH, Gazepoint Research Inc., Ergoneers GmbH, and Smart Eye AB.
Leading players are actively launching new products into the booming market. They are also initiating partnerships with other market leaders to develop new products that effectively satisfy customers demands and requirements.
This report summarizes the company profiles of leading market players alongside their business overview, product benchmarking, financials, and recent developments.
It also offers an extensive quantitative and qualitative analysis of potential industry trends and growth prospects in eye tracking market between 2018-2026.