The global eye tracking market size is projected to touch USD 1.75 billion by 2025, as per the report released by Million Insights. It is estimated to grow with a CAGR of 26.3% from 2018 to 2025. Vision catching systems are widely used to decide the duration and correct location of a user’s attention.
Key Players:
Leading players in the industry are Seeing Machines Limited, SR Research Ltd., Tobii AB, and Smart Eye AB. These players are focusing on M&A to face challenges related to improving product offerings and R&D. For example, Tobii Pro in 2017, acquired Sticky, an organization providing cloud-driven solutions that allow large-scale researches using a webcam. Tobii Pro is the leading player in the vision tracking market and this acquisition strengthens its market presence.
Growth Drivers:
The industry is foreseeing rapid growth owing to rising demand for vision capturing technology in several commercial places, especially in sectors and industries. These industries are security & surveillance, healthcare, consumer electronics, research, and retail. The optical tracking, also called video-based eye tracker, is gaining widespread acceptance from customers. It uses trackers to constantly record every movement and position of the traced person. Increasing demand for contactless biometrics is predicted to play a crucial role in the market growth over the estimated years. Biometric sensors are extensively used for security in the custodial management and defense sector. Defense organizations implement iris biometric for recognizing individuals to tighten security.
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Type Insights:
Depending on the type, the market is segregated into eye-attached tracking, electrooculography, and optical tracking. The optical tracking division is anticipated to occupy a 50.0% revenue share by 2025. Eye-attached tracking systems are predicted to grow with a CAGR of over 28.0% in the upcoming years.
Eye-attached devices like contact lenses are equipped with mirror or magnetic sensors, which can trace the vision despite head movements. It can track movement in horizontal, vertical, and torsion directions. These systems would be suitable for consumer electronics, research, healthcare, and retail segment.
The Electrooculography technique can track vision movement via electric signals produced from contact electrodes equipped on the skin near the eyes. The technique is especially useful in the research behavior of humans while sleeping. However, the vision gaze detection ability of an EOG system is not correct over the optical tracking system, which makes use of infrared technology.
Location Insights:
Depending on location, the eye-tracking market is segregated into mobile tracking and remote systems. The remote-driven vision tracking, participants have to be present in front of the device in a no-movement position. However, mobile vision trackers are mounted to participants for gathering vision movement, despite participants’ movement.
A remote capturing is implemented for analyzing the behavior of participants or for detecting an object from the 2-D view. An enhanced setup is needed for the 3-D study. On the other hand, mobile trackers are implemented when plaintiffs are free to move.
The remote division occupied the largest revenue share in 2017 and is predicted to maintain its lead from 2018 to 2025. Mobile tracking systems are anticipated to ascend with a CAGR of more than 28.0% from 2018 to 2025, especially owing to the extensive acceptance of this technology in the commercial sector.
Regional Insights:
North America led the market to hold a little more than 48.0% revenue share in 2017. It is anticipated to maintain its lead from 2018 to 2025. The U.S. is the major revenue contributor due to the widespread acceptance of contactless biometric and smart sensors. Most of the leading players are based in China, the U.S., Germany, and Japan.
Apple Inc. in 2017 took over SensoMotoric Instruments, a Germany-based company specializing in AR and eye-tracking. This acquisition predicts the development of VR and AR platforms, such as AR framework and ARKit that fuses digital data and objects with the surrounding environment and combines with iOS 11.
Asia Pacific is expected to ascend with a CAGR of more than 30.0% from 2018 to 2025. Rising acceptance of vision tracking, especially in consumer electronics is anticipated to bode well for the market growth in the upcoming years.
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