Research Nester released a report titled “Eye Tracking Market: Global Demand Analysis & Opportunity Outlook 2027” which delivers the detailed overview of the eye tracking market in terms of market segmentation by component, type, location, application, and by region..
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The eye tracking market is anticipated to expand at a CAGR of around 27% over the forecast period i.e. 2019-2027. The growth of the market is driven by increased capital investment in the eye tracking market and growing research & development across numerous industry verticals around the globe. Additionally, increased adoption of eye tracking systems in the various sectors such as military and aviation on account of increasing demand of smart sensors for security applications is expected to contribute to significant growth of the market in upcoming years.
By region, the global eye tracking market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa region, out of which, the market in North America holds the largest share and is further expected to grow, on account of continuous investments and innovations combined with rising adoption of eye tracking technology in all the sectors, specifically healthcare and defense sectors. Moreover, the market in Europe is expected to grow at a significant rate on the back of rising investments and focus of the major players on the technological advancements in the field of eye tracking devices. Furthermore, the market in Asia Pacific region is anticipated to record highest CAGR owing to adoption of the technological innovations in various sectors, and reduction in prices of the eye tracking devices in the region.
Growing Technological Advancements to Boost Adoption of Eye Tracking Devices
The adoption of eye tracking technology in aerospace, automotive, entertainment and other sectors has influenced the growth of the market owing to integration of eye tracking technology with virtual reality, augmented reality and artificial intelligence. Additionally, the application of eye trackers across various industry verticals are increasing on account of their ability to monitor and study the consumer behavior and helps organizations to provide a better product design leading to exceptional consumer experience. These factors are anticipated to considerably support the growth of the market over the forecast period.
However, the inability of cameras to record eye movement due to different contact lenses, glasses and pupil color, is anticipated to hamper the growth of eye tracking market.
This report also provides the existing competitive scenario of some of the key players of the eye tracking market which includes company profiling of key companies such as EyeTech Digital Systems Inc., Ergoneers GmbH, LC Technologies Inc., Lumen Research, Mirametrix Inc., Pupil Labs GmbH, SR Research Ltd., Smart Eye AB (FRA:SE9), Seeing Machines(LON:SEE) and Tobii AB(STO:TOBII). The outlining enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the eye tracking market that is expected to help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.