Get In Touch

Global Eye Tracking Market: Snapshot

Eye tracking, at its most basic, is keeping a tab on eye activity. It studies what we look at, what we ignore, and how we blink. It also examines how the pupil reacts to various stimuli. The concept is simple, however the procedure and interpretation can prove to be complicated.

In eye tracking, data is mostly gathered leveraging an “eye tracker,” which can either be head-mounted or remote and connected to a computer. Such eye trackers are mostly comprised of a camera and a light source. The light source, infrared mostly, is directed toward the eye, while the camera tracks its reflection along with visible ocular features such as the pupil. With the evolution of technology, such eye trackers have become non-intrusive.

The data gathered from eye tracking is then analyzed using various software. Apart from analyzing the visual attention, eye data can also be scrutinized to gauge the workload and cognitive state of the subject. Eye tracking finds application in different areas ranging from automotive to medical and defense. They use eye tracking to ensure safety and well-being of the participants.

Besides, advertising and entertainment, packaging, and web design industries are also benefitting from the information gathered about their consumers’ behavior from their eye tracking. They are finding many new applications almost every day and this is opening up new opportunities in their market.

Despite such promising prospects application-wise, the demand for eye tracking devices is getting hampered because of its high cost. Rising use of contact lenses is also serving to slow down their uptake since those can disrupt the functioning of eye tracking devices.

However, with constant product development their prices are expected to come down in the future and their design is expected to become more sophisticated thereby buoying sales eventually.

Eye tracking refers to the procedure of locating, following, and recording a person’s gaze. Various technologies exist for the completion of this electronically-driven procedure, some of which rely on the images of the eye taken without any physical contact and other methods involve attachments to the eye. Therefore, eye tracking is simply measuring the activity of the eye, analyzing, where the eye looks at, what the eye ignores, when the eye blinks, and how does the pupil of the eye react to different stimuli. Remote control or a head-mounted eye tracker device is connected to a computer for collecting eye-tracking data. This data is then used to extrapolate the rotating of the eye and the direction of the gaze. Further, the collected data is saved to a file that is compatible with an eye tracking analysis software, such as the Eye Works. Eye tracking techniques are used in a variety of fields, such as, medicine, marketing, psychology, engineering, and education.

Developments in the field of medicine and healthcare and increase in the number of e-book readers are likely to drive the expansion of the global eye tracking market.

Eye tracking devices come with certain disadvantages such as high cost and the presence of contact lenses creates a disruption in the functioning of eye tracking devices. These factors are expected to create hindrances in the expansion of the global eye tracking market.

The global eye tracking market can be segmented into applications, end-user industries, and geography. In terms of applications, the market can be further segmented into medical diagnostics, psychology research, personal computers and gaming, usability research, packaging research, and others. In the field of medical research or medical diagnostics, eye tracking method finds application in diagnosing diseases such as autism spectrum disorder, schizophrenia, Parkinson’s and Alzheimer’s, and obsessive-compulsive disorders. It is also employed to detect drowsiness and support various fields of medicine. Furthermore, in the field of psychology research, eye tracking helps in measuring and correlating movements of the eye with the functioning of the brain. Similarly, usability research enables an owner of a product to increase its findability in a website to increase his/her return on investments. For instance, if a product is difficult to find on a certain website, then the owner of the website might lose out on a considerable share of the revenue. Eye tracking helps in improving the findability of that product on the website to prevent the loss on revenue and improve the website’s return on investment. Eye tracking is also widely utilized in personal computers and the gaming industry to enable game designers to get a better understanding of the game and allow the gamer to control the game with the help of eye movements. Eye tracking is used in the field of packaging research for better designing of packages and understanding consumers’ preferences. In the applications segment, the medical diagnostics segment is estimated to hold a considerable share of the market followed by packaging research due to significant investments made before a product is sent to the market as a final product. In terms of end-user industries, the global eye tracking market can be segmented into, healthcare, marketing, transportation, and others. The healthcare segment is anticipated to hold a prominent share of the market followed by the marketing and transportation segments.

In terms of geography, the market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The Asia Pacific market is projected to expand rapidly due to increasing research and development in the field of healthcare. Considerable investments in marketing and packaging to improve its export sales is also anticipated to play a crucial role in driving the expansion of the market in Asia Pacific.

Major vendors operating in the global eye tracking market include Eye Tracking, SensoMotoric Instruments, Gazepoint, Tobii, Smart Eye, LC Technology International, EyeTech Digital Systems, CoolTool, Mangold International, and Interactive Minds.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market    

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

REQUEST CUSTOMIZATION

Eye Tracking Market

Pre Book