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Eye Tracking Market Overview, Industry Size, Status and Outlook, 2028 – Introspective Market Research

Eye Tracking

Eye Tracking

Market Overview:

The Eye Tracking Market was estimated at USD 314.01 million in 2021 and is projected to reach USD 1352.74 million by 2028, growing at a CAGR of 23.2 %.

Eye-tracking is a sensor technology that can identify a person’s presence and track their gaze in real-time. The system turns eye movements into a data stream that includes pupil position, gaze vectors for each eye, and gaze point information. Essentially, the technology decodes eye movements and converts them into insights that may be used in a variety of applications or as a second mode of input. The principle of eye tracking is based on the detection of infrared radiation. Near-infrared light is focused on the pupil (the center of the eyes), creating visible reflections in the pupil and cornea (the outer-most optical element of the eye). An infrared camera tracks these reflections — the vector between the cornea and the pupil. The pupil center corneal reflection is the optical tracking of corneal reflections (PCCR). The rise in the applications of eye-tracking technology has boosted the development of the market.

Major Key Players for Eye Tracking Market:

  • Eyegaze (US)
  • Ergoneers (Germany)
  • Tobii (Sweden)
  • EyeTech Digital Systems (US)
  • SR Research (Canada)
  • Seeing Machine (Australia)
  • Smart Eye (Sweden)
  • iMotions (Denmark)
  • EyeTracking (US)
  • EyeSee (Belgium)
  • Others

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Market Dynamics and Factors:

Researchers can monitor the movements of a participant’s eyes during a variety of activities using eye-tracking. This can show things such as learning patterns and social interaction methods, as well as the cognitive processes behind a wide range of human behavior. It also enables the detection of abnormal neurodevelopment as well as cognitive and perceptual impairments. Young children and those with neurological problems who are unable to explain their mental processes can also participate in studies using eye-tracking technology thus, supporting the development of the market over the forecast timeframe.

Moreover, there is no better method to evaluate user experience than to see it through their eyes. Eye-tracking can be used to investigate how platforms and services are used and how well they achieve their objectives. Eye-tracking can uncover design problems and even usage patterns that were not seen throughout the creative process thereby, strengthening the expansion of the market during the projected period.

Eye Tracking Market Report Highlight:

  • By tracking, the mobile tracking segment is anticipated to have the highest share of the eye-tracking market during the forecasted timeframe. Mobile eye tracking does not require any extra hardware and tracks real-time face and eye movements of users on a smartphone screen.
  • By application, the assistive communication segment is expected to lead the development of the eye-tracking market over the analysis timespan. It is an alternative type of communication for people to communicate when they do not have the physical ability to use verbal speech or writing. Eye-tracking can play an important role in assistive communication thus, strengthening the growth of the market.
  • By vertical, the healthcare & research labs segment is forecasted to dominate the eye tracking market. The rise in research studies and the growing applications of eye-tracking in the healthcare sector has boosted the segment’s growth.
  • The North American region is anticipated to lead the development of the eye-tracking market in the analysis period. Greater usage of modern technology in the healthcare sector, as well as increased research initiatives to better understand human behavior, are two of the key drivers of growth in North America.

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Key Industry Development:

In June 2020, Tobii Pro, a division of Tobii (Sweden), released a new version of Tobii Pro Glasses 3—the company’s next-generation wearable eye tracker designed to measure attention in any real-world scenario.

In May 2020, Tobii Dynavox, a Tobii (Sweden) business subsidiary, announced the release of the I-Series, a next-generation communication device with built-in eye tracking. These devices are specially designed for people with disabilities.

Eye Tracking Market Segmentation:

By tracking type

  • Remote
  • Mobile

By Application

  • Human Behavior Research
  • Assistive Communication
  • Virtual Reality
  • Others

By Vertical

  • Aerospace
  • Consumer Electronics
  • Healthcare & Research Labs
  • Automotive & Transportation
  • Others

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For this report, Introspective Market Research has segmented the Eye Tracking Market based on region:

Regional Outlook (Revenue in USD Million; Volume in Units, 2022-2028)

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Turkey
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Vietnam
    • Thailand
    • Rest of Asia-Pacific
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Iran
    • Rest of MEA
  • Latin America
    • Brazil
    • Argentina
    • Rest of LATAM

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Scope of the Report:

The report encompasses the entire analysis of market size in previous years for major segments and countries, as well as future estimates. The Eye Tracking Market study looks deeply into the worldwide market’s competitive landscape. The study also provides the names of key market players and the methods they used to gain a dominant position in the industry. It also includes useful market insights, dynamics and factors, and market analysis techniques such as PESTEL analysis, PORTER’s Five Forces analysis, value chain analysis, SWOT analysis, BCG matrix, and Ansoff matrix.

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