Eye Tracking Market worth $1,786 million by 2025
According to the new market research report “Eye Tracking Market by Offering (Hardware, Software, and Services), Tracking Type (Remote and Mobile), Application (Assistive Communication, Human Behavior & Market Research,), Vertical, and Geography – Global Forecast to 2025″, the eye tracking market is expected to grow from USD 560 million in 2020 to USD 1,786 million by 2025; it is expected to grow at a CAGR of 26.1% from 2020 to 2025. The high demand for eye trackers in the healthcare vertical, especially for the assistive communication application is one of the key driving factors for the eye tracking market. The increasing penetration of eye tracking technology in the consumer electronics vertical, and high demand for eye trackers for personalized advertisements and consumer research purposes are a few other key factors having a positive impact on the growth of the eye tracking market.
Remote eye tracking segment to hold largest share of eye tracking market, by tracking type, in 2020
The remote eye tracking segment will lead the eye tracking market, by tracking type, in terms of size, by 2020. The leading position of this segment can be attributed to the high demand for remote eye trackers for assistive communication and human behavior & market research applications, especially in healthcare, research, and retail verticals.
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Market for automotive & transportation vertical to grow at highest CAGR during forecast period
The eye tracking market for the automotive & transportation vertical is expected to witness the highest growth during the forecast period. Rise in the adoption of eye tracking technology in the automotive & transportation vertical for integration in driver monitoring systems is the major reason for the high growth of this vertical in the eye tracking market. Eye tracking technology is considered as an effective technology to detect drowsy or distracted drivers due to which this technology is increasingly being integrated into driver monitoring systems. The healthcare & research labs vertical is expected to dominate the eye tracking market, in terms of size, during the forecast period.
North America to hold largest share of eye tracking market by 2020
North America is expected to hold the largest share of the eye tracking market by 2020. The US and Canada are the key countries contributing to the growth of the eye tracking market in North America. Europe is expected to account for the second-largest share of the eye tracking market during the forecast period. The UK and Germany are significant demand-generating countries for eye tracking technology-based products and services in this region.
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A few key players operating in the eye tracking market are Tobii (Sweden), EyeTracking (US), SR Research (Canada), Seeing Machines (Australia), PRS IN VIVO (France), Smart Eye (Sweden), EyeTech Digital Systems (US), LC Technologies (US), Ergoneers (Germany), ISCAN (US), iMotions (Denmark), and Lumen Research (UK).