Eye tracking systems enable recording, monitoring, and analysis of eye movements to make conclusions regarding visual attention while subjects perform tasks, such as reading, viewing website or video-based content, shopping, working in an industrial environment, driving or performing other tasks. Eye movements are tracked and recorded generally in terms of fixations, gaze points, and saccades. Eye tracking system data reveals the cognitive processes behind human attention and as a result, human decision making. Due to such unique benefits, the global Eye Tracking System market is expected to have major growth in 2018, exhibiting a year-on-year growth rate of 22.1% as compared to 2017. Furthermore, the demand for Eye Tracking Systems will also be impacted by the increasing trend of personalized advertising in the marketing and advertising industry.
Eye Tracking Systems are being adopted by a bigger number end users for various applications. From analyzing infant behavior in academic and scientific research to deriving insights for better placement of products on supermarket shelves, eye tracking systems provide unique benefits. There is growing competition in the market for products and services and insights on what sways customer attention (through the use of eye tracking system) can be deeply valuable in such a competitive scenario. Companies use insights from eye tracking system studies to improve product features, enhance customer experience and ultimately make better business decisions.
Based on component type, the hardware segment will continue to be a major factor in the Eye Tracking System market in terms of global market share and is expected to account for approximately 56.5% share of the eye tracking system market by the end of 2028.
Based on application, the smartphones, gaming and AR/VR segment will take the lead from other segments in the next few years and will dominate the global Eye Tracking System market. However, the demand for Eye Tracking Systems in assistive communication and consumer behavior research segments is also expected to grow at a decent pace during the forecast period. Application of eye tracking systems in the transportation industry, particularly automotive and aviation, is still in its nascent but is expected to grow in the coming years.
In 2018, North America is expected to be the most lucrative region in the global Eye Tracking System market and is likely to hold more than 54.6% share in the global eye tracking system market share. Further, advancements in technology and better penetration of eye tracking systems in emerging economies will drive fast growth in the eye tracking system market in the Asia-Pacific region.
Increasing demand for Eye Tracking Systems in the coming years is influencing prominent manufacturers to collaborate with manufacturers of consumer devices to strike OEM level partnerships for integrating eye tracking systems in consumer products. Tobii AB, SR Research Ltd, LC Technologies, EyeTech Digital Systems and Seeing Machines Ltd. are some of the key players operating in the global Eye Tracking System market.