According to the latest report by IMARC Group, titled "Eye Tracking Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global eye tracking market reached a value of US$ 725.8 Million in 2021. Eye tracking refers to the process of analyzing and evaluating eye behavior either at the point of gaze or the movement of the eye relative to the head. Electrooculography, optical tracking and eye attached are some of the common types of eye-tracking devices. Eye tracking is commonly used as a diagnostic procedure or as a means of enhancing the visual presentation of information as it accurately quantifies visual attention to study human behavior by measuring the length and direction of the gaze. Apart from this, eye tracking aids in recording a wide range of activities, such as looking, ignoring, blinking and other noticeable reaction of the pupil to stimuli. As a result, the procedure finds extensive applications in intelligent security systems, packaging designs, and psychological research.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Eye Tracking Market Trends:
The increasing demand for eye trackers in the military and defense industry as a crucial component of security arrangements represents one of the key factors creating a positive outlook for the market. Eye trackers, along with biometric iris scanners, are widely used in police departments and defense organizations to identify individuals and suspicious activities. In line with this, the widespread product employment in various applications, such as lie-detecting systems, video games, and cognitive systems, is also favoring the market growth. Apart from this, the large-scale integration of virtual reality (VR), artificial intelligence (AI) and augmented reality (AR) with eye tracking devices to recognize particular patterns, are providing an impetus to the market growth. Additionally, the significant growth in the retail industry, specifically the fast moving consumer goods (FMCG) sector, is positively impacting the market growth. Eye-tracking is widely used for decoding consumer’s purchasing conduct, promoting the optimization of marketing strategies, and enabling data-based decisions by detecting and analyzing the focus of attention, thus supporting the market growth. Other factors, including the widespread product adoption in the aerospace industry and the extensive investments in smart and wearable technology, are anticipated to drive the market toward growth. On account of the aforementioned factors, the market is anticipated to reach US$ 2,939.4 Million by 2027, growing at a CAGR of 27.1% during 2022-2027.
- On the basis of the type, the market has been classified into eye attached tracking, optical tracking, and electrooculography.
- Based on the component, the market has been bifurcated into hardware and software.
- On the basis of the location, the market has been classified into remote and mobile.
- Based on the application the market has been categorized into healthcare, retail, research, automotive, consumer electronics, and others.
- Based on the region, the market has been categorized into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia and Others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and Others) Latin America (Brazil, Mexico and Others), Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include Ergoneers GmbH, Eyegaze Inc., EyeTech Digital Systems Inc., EyeTracking Inc., Gazepoint Research Inc., iMotions A/S, Mirametrix Inc., Seeing Machines, Smart Eye AB, SR Research Ltd. and Tobii AB.
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