Eye Tracking Market is to Reach USD 1383.9 Million by 2028 at a CAGR of 21.1% | Valuates Reports

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15 Jul, 2022, 21:30 IST

BANGALORE, India, July 15, 2022 /PRNewswire/ -- Eye Tracking market is Segmented by Type (Hardware, Software), by Application (Assistive Communication, Human Behavior & Market Research, AR/VR, Vehicles)  : Opportunity Analysis and Industry Forecast, 2022–2028. It is published in Valuates Reports under the Software Category.

The global Eye Tracking market size is projected to reach USD 1383.9 million by 2028, from USD 350.8 million in 2021, at a CAGR of 21.1% during 2022-2028.

Major Factors Driving the Growth of Eye Tracking Market

Increasing application of eye tracking in Assistive Communication, Human Behavior & Market Research, AR/VR, and vehicles is expected to drive the growth of the eye tracking market.

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TRENDS INFLUENCING THE GROWTH OF EYE TRACKING MARKET

Increasing use of Eye Tracking in Human Behavior & Medical Research is expected to drive the eye tracking market growth. The processing of visual information involves more than 50% of the brain. Medical researchers have unique access to the brain because of eye-tracking. Eye movements nearly always indicate the presence of conditions like brain damage and cognitive impairment. By detecting how the eyes move, track, and focus, precision eye-tracking technology offers a quick, non-invasive process that can be utilized to diagnose medical issues earlier. As a measurable secondary confirmation of diagnoses and a crucial factor in earlier intervention for neurodegenerative diseases like Alzheimer's, dementia, Huntington's, and Parkinson's, this can be of enormous use.

For non-verbal patients with illnesses like cerebral palsy, autism, ALS, muscular dystrophy, stroke, traumatic brain injuries, spinal cord injuries, and Rett syndrome, several alternatives and augmentative communication (AAC) platforms and speech generating devices (SGD) use eye-tracking. These devices give these patients a crucial lifeline by enabling them to produce speech using only the force of their gaze and a virtual keyboard. For people with physical and speech impairments, eye-tracking enabled SGD and ACC devices provide faster, more effective hands-free communication and integrated smart environment control. This factor is expected to drive the growth of the eye-tracking market.

Furthermore, Eye tracking enables you to view situations from the viewpoint of customers. Eye-tracking correctly exposes what captures attention, what drives purchasing behavior, and how consumers interact with your goods, whether it's looking at product placement, packaging design, advertising, or user experience. Eye-tracking provides precise information on whether the advertisement attracts attention and engages viewers in the desired manner. This trend is expected to fuel the eye-tracking market.

Experiences with VR and AR can benefit from eye-tracking. Eye-tracking makes VR/AR experiences more immersive and user-friendly by triggering more organic gaze interactions. Eye-tracking will allow AR developers to offer users focussed rendering.

Increasing adoption of eye-tracking by OEMs is expected to fuel the eye-tracking market. A key factor in improving automotive safety is eye-tracking technology. This technology, which analyses eyelid movement and gazes direction, will eventually supplant conventional methods as the primary Driver Monitoring System technology. By detecting drivers and evaluating their attention, eye tracking will be able to save lives by providing real-time input on driver states, such as distraction and tiredness.

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EYE TRACKING MARKET SHARE ANALYSIS:

Based on application Assistive Communication segment is expected to be the most lucrative during the forecast period.

Based on region, North America is expected to be the most lucrative region forecast period. This is attributed to the comparative economic superiority of the region. A couple of the main causes fueling the rise in North America are the rising use of cutting-edge technology in the healthcare industry and the expanding research into human behavior.

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Key Companies:

  • Tobii AB
  • SensoMotoric Instruments
  • SR Research
  • Seeing Machines
  • EyeTracking
  • PRS IN VIVO
  • Smart Eye AB
  • LC Technologies
  • Ergoneers GmbH
  • EyeTech Digital Systems

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