Eye Tracking Market Highlights:
Eye tracking technology works by measuring the point of gaze or checking the movement of it considering the head as an axis. The technology is having a prolific run in myriad industries due to its ability to read consumer behavior. The global eye tracking market is expected to benefit from factors and surpass a valuation of USD 1432 million with 29% CAGR during the forecast period (2017-2023). Market Research Future’s (MRFR’s) report closely observes factors that can impact the global eye tracking market considerably.
Factors like growing consumerism and customer-centric marketing strategies are expected to take the Eye Tracking Marketahead. Such technologies play an integral role in understanding consumer behavior. Several e-commerce sites are banking on this type of growth. On the other hand, product development strategies in sectors, like the automotive industry, are also employing this technology. However, probability of privacy invasion is looming large, which can deter the market from having its predicted growth.
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Companies deeply engrossed in the global eye tracking market are Seeing Machines Ltd. (Australia), Facebook Inc. (US), Tobii AB (Sweden), Ergoneers GmbH (Germany), PRS IN VIVO (US), EyeTech Digital Systems (U.S), SR Research Ltd. (Canada), Smart Eye AB (Sweden), Apple Inc. (U.S), and Lumen Research Ltd. (UK), and others. These companies are getting involved in various tactical moves that includes merger, acquisition, collaboration, product launch, and other methods to grow individually but their move is also impacting the holistic growth of the market in a positive manner.
In June 2019, VisualCamp announced that they are collaborating with an automobile company to develop better eye tracking devices. On the other hand, their venture with a Chinese smartphone manufacturer allows them access to almost a million smartphones, which is a big news considering how deeply it can impact the global market.
MRFR incorporates a thorough segmentation of the global eye tracking market to understand various dynamics at play from close. This would also help in getting an outline of trends that could impact the global market in the coming years. These segments were selected on the basis of type, application, and vertical.
The global eye tracking market segmentation covers applications, type, and verticals. MRFR is exploring the features of these segments to understand market trends.
According to the application-based segmentation, this market covers human-computer interaction, research, virtual reality (VR), and others. Based on verticals, the market is being segmented into aerospace, automotive, government & defense, retail, and others.
The regional segmentation of the global eye tracking market covers the Americas (North America & South America), Asia Pacific, Europe, and Rest of the World (RoW).
The Americas region is the largest regional market. Due to technological advancement, North America is the greater regional market over South America. North America holds the potential of being the largest regional market on its own. In North America, the market is growing due to the presence of many service providers and the availability of a huge variety of eye tracking options that include glasses, computer monitor eye-trackers, and light eye-trackers. Investment on eye tracking devices is also increasing as companies have started realizing the potential of the market. The maximum revenue for this market originates from the USA and Canada. Mexico is the third major country-specific market in this region.
During the forecast period, the European market can also witness huge growth as some of the important service providers based in Europe are investing more in eye tracking market. The market in this region is also surging due to the availability of advanced smartphones and standalone VR head-mounted displays. The big-league country-specific markets in this region are France, Germany, and the UK.
Asia Pacific region can jump up as the fastest growing market due to various technological innovations, and the availability of the eye-tracking devices in this region at lower prices. The user-friendly nature of eye tracking devices is positively contributing to the growth. The foremost country-specific markets in this region are China, India, Japan, and South Korea.
The RoW segment features the countries of the Middle East & Africa (MEA). In this region, the market is limited due to the limited availability of technology.
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Table of Contents
1. Executive Summary
2. Research Methodology
2.1. Scope of the study
2.1.2. Research Objective
2.2. Research Process
2.2.1. Primary Research
2.2.2. Secondary Research
2.3. Market size Estimation
2.4. Forecast Model
List of Tables
Table 1 Eye Tracking Market, By Type
Table 2 Eye Tracking Market, By Applications
Table 3 Eye Tracking Market, By Verticals
List of Figures
Figure 1 Research Methodology
Figure 2 Eye Tracking Market: By Type (%)
Figure 3 Eye Tracking Market: By Applications (%)
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