The Eye tracking Market is forecast to reach $2 billion by 2025, growing at a CAGR of 28% during the forecast period 2020-2025. Eye tracking products are witnessing significant adoption from augmented reality (AR) and virtual reality (VR) applications. The global revenues for AR and VR are set to increase by 100% in the next five years. According to the International Data Corporation (IDC), the total spending on AR and VR in 2017 was $11.4 billion which is anticipated to increase to $215 billion by 2021. Similarly, the rapidly increasing demand for eye-tracking technology is attributed to its extensive use in infant and child research, education and e-Sports, and others. Major companies like Dell, Acer, and MSI have started integrating eye-tracking technologies in notebooks and monitors to enhance the experience for eSports viewers.

The report: “Eye Tracking Market – Forecast (2019-2025)”, by IndustryARC covers an in-depth analysis of the following segments of the Eye Tracking Market.

Remote eye tracking, commonly known as screen-based eye tracking, is one of the most appropriate methods for measuring point of gaze. The technique widely serves the purpose of point of gaze-based interactions in a number of industries such as healthcare, transportation, communication, and others. The healthcare industry is majorly contributing towards growth of the eye tracking market, mostly due to the increasing use of remote eye tracking to identify biometrics and to recognize surgical anatomy. Moreover, remote eye tracking is also used for ophthalmic research to detect the physiology of the patient’s eye movement, which is anticipated to drive growth of the eye tracking market. Furthermore, remote eye tracking is increasingly being used for commercial applications which include usability of website, creation of the stimulator and system augmented reality and others, which is anticipated to fuel growth of the market during the forecast period.  

The ever-increasing popularity of eye tracking techniques is attributed to technological advancements via artificial intelligence, virtual reality and augmented reality. In the healthcare industry, virtual reality coupled with eye tracking is increasingly being used to track body movement, which is driving growth of the eye tracking market. The extensive use of eye tracking processes has certainly contributed to availability of affordable, easy-to-use and high-precision medical devices such as CNC machines and others which offer improved accuracy and stability. According to the National Alliance on Mental Illness, one out of five adults in the U.S., totaling 46.6 million, experiences mental illness, and of this 1.1% live with schizophrenia and 2.6% live with bipolar disorders. Eye tracking tools are increasingly being used for diagnosis of these severe psychological disorders, which is further anticipated to fuel growth of the market. Demand for eye tracking technology in the healthcare sector is estimated to grow at a CAGR of 35%, which is anticipated to propel growth of the eye tracking market during the forecast period.

North America is the largest market for eye tracking, and accounted for a market share of 28% in the year 2018. Rising innovations and technological advancements in the U.S. automotive industry has increased opportunities for eye tracking systems in this region. According to OICA, in 2017, total car production in the U.S. was 2.79 million. The high production is anticipated to drive the eye tracking market as the technology is extensively being used in cars for ensuring safety of the driver, by preventing distractions and in reducing the possibilities of road accidents.    

Radically growing ubiquity of mobile phones is the biggest growth driver for the eye tracker market. Mobile phones, such as iPhone X and Xiaomi Mi8, are equipped with depth sensing cameras further integrated with 3D eye tracking technology. Eye tracking is also being used as a tool for unlocking the phone using retina or face scan. In addition to these, adoption of 3D technology in smartphones will provide growing opportunities for eye tracking in the near future.

Eye tracking technology is being incorporated in the medical field for improving existing clinical methods for screening and diagnosis. According to Autism Speaks, a U.S.-based autism advocacy organization, about 31% of children were reported to be suffering from Autism Spectral Disorder (ASD), in 2018, which is anticipated to fuel growth of the eye tracking market. This is because eye tracking, in combination with biometric sensors, tracks eye movement of the patient and helps in diagnosing diseases such as ASD, schizophrenia and others. Many investigators and researchers have started using eye-tracking technology for conducting patient safety studies. According to IQVIA, in 2018, the total number of patients reported to be suffering from neuromuscular disorders were estimated to be 250,000 in the U.S. For such disorders, eye tracking technology can be utilized to communicate with patients, and this is further anticipated to boost growth of the eye tracking market.

In 2018, the market for eye tracking was analyzed to be consolidated with the top five players accounting for 60% of market share. Major players in the eye tracking market include Eyetracking, Inc., LC Technologies, Inc., AdHawk Microsystems Inc., Tobii AB, and RightEye LLC. Partnerships and acquisitions along with product developments and up gradations are key strategies being adopted by players in the eye tracking market.

The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. These provide the key market participants with the necessary business intelligence and help them understand the future of the Eye Tracking market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats.