Global Eye Tracking Market to Reach $1.3 Billion by 2023 - Adoption of Eye Tracking in Healthcare, Automotive & Retail Verticals Expected to Increase in APAC
The eye tracking market is expected to be worth USD 1,376.5 million by 2023, growing at a CAGR of 27.4% between 2017 and 2023.
This report covers the eye tracking market on the basis of offering, application, tracking type, vertical, and geography. The hardware offering is expected to hold the largest market share during the forecast period; the market for this offering is also expected to grow at the highest CAGR during the forecast period. The dominance of the hardware offerings is due to the criticality of the component in some prominent applications, such as assistive communication and automotive.
Remote eye tracking accounted for the largest share of the market based on tracking type in 2016. The market for mobile eye tracking is expected to grow at the highest CAGR during the forecast period as it offers more degree of freedom for natural head movement in a holistic 3D environment.
The eye tracking market for the automotive and transportation vertical is expected to grow at the highest CAGR during the forecast period. There is an increase in the deployment of eye-tracking technology by automotive vendors. The large automotive and transportation market provides a huge growth opportunity for the emerging eye tracking market. This growth is expected to be more prominent in North America and Europe owing to the early adoption of eye tracking in healthcare, retail, and automotive sectors.
North America held the largest market share in 2016 and is expected to dominate the eye tracking market between 2017 and 2023. The market in APAC is expected to grow at the highest CAGR during the same period. A number of untapped verticals and applications; and growing awareness about eye-tracking technology are expected to contribute to the fast growth of the eye tracking market in APAC. During the forecast period, the adoption of eye tracking in healthcare, automotive, and retail verticals is expected to increase in APAC.
A major restraint for the growth of the eye tracking market is the growth in automation in vehicles, advanced robotics, and smart factories. Many large manufacturing plants are increasingly moving toward automation to increase efficiency and minimize human error. Also, the concept of driverless cars is expected to gain momentum in the automotive industry. With reduced human interventions in these domains, the scope for the growth of the eye tracking market is expected to be subdued.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Eye Tracking Market, By Offering
8 Eye Tracking Market, By Application
9 Eye Tracking Market, By Tracking Type
10 Eye Tracking Market, By Vertical
11 Geographic Analysis
12 Competitive Landscape
13 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/rg4blg/eye_tracking
Research and Markets
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