Eye Tracking Market Growth, Analysis, Latest Trends and Forecast till 2025
Posted by edwardzmusso on February 21st, 2022
The global Eye Tracking Market size is expected to reach USD 1,098 million by 2025 from USD 368 million in 2020, at a CAGR of 24.5% during the forecast period. 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.
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Impact of COVID-19 on Eye Tracking Market:
The world is facing an economic crisis caused by COVID-19 pandemic. The pandemic like various other markets has also led to a decline in the growth rate of the eye-tracking market. The major demand generators in the eye-tracking market— various retail stores, advertisement companies, and research labs—are currently non-operational in multiple countries, which has negatively impacted the demand for eye-tracking technology-based products and services. Additionally, COVID-19 has also disrupted the supply chain of the eye-tracking market, which is hindering the manufacturing and distribution of eye-tracking devices. The eye-tracking market is expected to gather momentum as soon as the supply chain issues get resolved.
Mobile eye tracking segment to witness highest growth rate in the eye tracking market between 2020 and 2025
The market for mobile eye tracking is expected to grow at the highest CAGR during the forecast period. Mobile eye tracking provides more degree of freedom for the subject, which entails a natural head and eye movement to be recorded. This approach is gaining traction in market research applications in the retail and advertisement sector.
Assistive Communication application to dominate eye tracking market, in terms of size, during forecast period
The eye tracking market, by application, is segmented into assistive communication, human behavior & market research, and others. The eye tracking market for the assistive communication application is expected to hold a dominant position during the forecast period. The need for effective assistive communication devices for physically impaired people and improvements in eye tracking technology drive the market for this segment.
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.
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), Eyegaze (US), Ergoneers (Germany), ISCAN (US), iMotions (Denmark), and Lumen Research (UK).
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Joined: February 8th, 2021
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