NEWARK, May 08, 2024 (GLOBE NEWSWIRE) — Brainy Insights estimates that the $428.0 million eye tracking market will reach $4018.0 million by 2033. Eye tracking is one of the important factors in the growth of the automotive industry. The need for eye tracking is growing along with the need for cars and AI applications in the automotive industry. Over time, eye tracking has replaced traditional methods as an important DMS technology because it allows analysis of gaze direction and eyelid movement. For example, Toyota beat other competitors to the market by offering an eye-tracking tool under the Lexus brand. In addition, Volvo intends to bring driver condition assessment technology to the market. There is also a growing demand for eye trackers in the FMCG retail industry.

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Retail stores use eye-tracking equipment and associated algorithms to learn about customer behavior. The algorithm determines the product order that is most likely to encourage a customer to purchase in the store, the time a customer spends looking at the product, and the packaging that provides the most product information to the customer. The consumer electronics sector is expected to grow at a significant CAGR throughout the forecast period.

North America will represent the largest market size during the forecast period.

The healthcare sector’s increasing use of cutting-edge technologies and research initiatives to better understand human behavior are two major drivers of North America’s tremendous economic growth. The US has the largest revenue share in the regional market due to the widespread use of sensors and contactless biometric systems there.

The optical tracking segment dominated the market with revenues of US$179.7 million.

The optical tracking segment dominated the market with the largest revenue of US$179.7 million. Optical tracking systems in VR and AR are in high demand due to their ability to capture both active and passive movement of the whole body. This gives VR access to more positional data about the user.

The hardware segment dominated the market with the largest revenues at US$252.5 million.

The hardware segment dominated the market with the largest revenues at US$252.5 million. Equipment used for eye-tracking consists of an external or internal storage device to record and store data collected by vision trackers, eye-tracking glasses or lenses, and a head-mounted vision capture system that includes cameras and sensors.

The remote segment dominated the market with the largest revenues at US$235.4 million.

The remote segment dominated the market with the largest revenues at US$235.4 million. A 3D study may require a more complex setup than a 2D study, which uses a remote visual capture device to examine participants’ behavior or observe an object.

The healthcare segment dominated the market with the largest revenue at US$107.0 million.

The healthcare segment dominated the market with the largest revenue at US$107.0 million. Initially, gaze capture in healthcare was limited to a computer interface for patients with various motor impairments and communication difficulties.

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Market dynamics:

Drivers: Increasing demand for assistive transportation devices with eye tracking center

Assistive transportation technologies focusing on eye tracking are becoming increasingly important in the digital age. Our reliance on digital tools and interfaces for communication has increased dramatically as technology has advanced. These developments have created new ways of interacting with the outside world for people with severe disabilities or limited mobility. In the field of assistive technology in particular, eye-tracking technology has become a game-changer, providing a lifeline to those who rely on it to access information, communications, and device management.

Limitation: high cost

The expensive nature of eye tracking technology has always been a major barrier to its widespread adoption and use. Although eye tracking has proven useful in many industries, including gaming, medicine, research, and assistive technology, the initial expense has often been a major drawback.

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Some of the major players operating in the eye tracking market are:

● SR Research Limited.
● Ghazi Point Research Company.
● Smart Eye AB
● Mirametrics Company
● LC Technologies, Inc.
● Toby AB
● iMotions A/S
● EyeTech Digital Systems, Inc.
● EyeTracking, Inc.
● VISION MACHINERY LIMITED

Main sectors covering the market:

By type:

● Electroretinography
● Optical tracking
● Eye tracking attached

By ingredient:

● Software
● Hardware

By location:

● Mobile
● Remotely

By application:

● Retail
● Cars
● Health care
● Research
● Consumer electronics
● Other

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About the report:

The global eye tracking market is analyzed on the basis of value (USD Million). All sectors were analyzed on a global, regional and country basis. The study includes analysis of more than 30 countries for each part. The report provides an in-depth analysis of the drivers, opportunities, restraints and challenges to gain critical insight into the market. The study includes Porter’s Five Forces Model, gravity analysis, raw materials analysis, supply and demand analysis, competitor location network analysis, distribution, and marketing channel analysis.

About Smart Insights:

The Brainy Insights is a market research company that aims to provide actionable insights through data analytics to companies to improve their business acumen. We have a powerful forecasting and estimation model to meet clients’ goals of high quality output within a short period of time. We offer customized (client specific) and group reports. Our repository of aggregated reports is diverse across all categories and subcategories across industries. Our customized solutions are designed to meet customers’ requirements whether they are looking to expand or planning to launch a new product in the global market.

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