3D Eye Tracking Software Market

3D Eye Tracking Software Market Research, 2031

The global 3d eye tracking software market was valued at $153.7 million in 2021, and is projected to reach $1.8 billion by 2031, growing at a CAGR of 27.8% from 2022 to 2031. 3D eye tracking software industry technology allows a computer or any other equipment to track data about the user's eye movement by detecting the presence, attention, and focus, as well as the position of the person's eye and pupil size, utilizing the eye’s reflection near the infrared light beam.

The COVID-19 pandemic has brought uncertainties, causing significant economic losses as different enterprises throughout the world were shut down. This has eventually impacted demand for 3D eye tracking software due to a lack of investment in 3D eye tracking technology by major market players, as well as an economic slowdown in some countries. Additionally, the retail and automotive sectors had faced the greatest impact in terms of sales and project acquisition, causing a significant reduction in the demand for 3D eye tracking software.

It delivers unique insights into human behavior and digitizes the way individuals interact with machines & devices by giving platforms for professionals to provide solutions.

The use of 3D eye tracking software to measure eye gaze offers new possibilities,  and applications for human-machine interaction in the retail industry. Market researchers can monitor the attention of customers and retailers without fear of bias by employing 3D eye tracking technology. Eye tracking can be used to study the flow of interest, perception, and intention. When a product catches a shopper's interest, they proceed to evaluate it in a specific manner. Their view then determines whether or not they intend to purchase it. According to eye-tracking research, if initially the price appears, shoppers are more likely to see it as a better value. Retailers require visual cues along the route to make an informed purchasing decision. Retailers will be able to track visual attention in this process using 3D eye tracking software and see what better visual strategies and clues positioning work best for products.

Despite technological developments, 3D eye tracking software requires additional hardware & peripherals support to gauge the accurate results, which involves high cost of investments for the development and manufacturing of 3D eye tracking software devices. The retailers and small sized businesses find it difficult to invest in such technologies owing to shortage of funds, lack of awareness about these solutions, and technical support for the installation and use of 3D eye tracking software in their retail stores. These factors are responsible for limiting the market growth.  

Over the past few years, eye trackers have become a crucial component of market research. These devices' data can often be used to improve how a company organizes its offline and online businesses. It is now possible to measure attention to specific brands, products, or key messages using advancements in 3D eye tracking software technology. It is also used to determine how easy or difficult it is to navigate a store. This is why attention tracking delivers critical data to businesses. 3D eye tracking software market outlook can provide shelf-attention analytics that count the number of views and focal points without the need for calibration. Retail and other marketing companies use these data to provide fresh sales strategies and shopper approaches to their retail clients.

The prominent players are investing massively in the R&D activities to develop technological advanced solutions to create strong business opportunity to sustain their presence in the global market. Apart from this, industry players are adopting various expansion strategies that include product launches, mergers & acquisitions, collaborations,  and partnerships. These strategies enable manufacturers to expand their geographical presence in the global market. For instance, in January 2022, a leading global developer of semiconductor solutions, OMNIVISION partnered with eye-tracking technology company, Tobii to develop advanced solutions for vision in the Metaverse.

The key players profiled in this report include Eyeware Tech SA, Blink Technologies, Pupil Labs, SR Research Ltd., EYE SQUARE GMBH, EYETECH DIGITAL SYSTEMS, Gazepoint, Smarteye, Visage Technologies, and Tobii AB.

The 3D eye tracking software market is segmented on the basis of type, application, end-use industry, and region. By type, the market is divided into mobile systems, remote-eye tracking, and tower-mounted eye tracking. By application, the market is categorized into scientific research, marketing & user research, and industry & human performance. By end-use industry, the market is classified into retail, robotics, automotive, consumer devices, assistive technology solutions, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The 3d eye tracking software market is segmented into Type, Application and End-use Industry.

By type, the mobile system segment dominated the market in 2021. Mobile eye tracking, also referred to as head-mounted eye tracking, uses a wearable device, most typically eye tracking glasses or a headband. In order to use this type of system, a camera or mirror that records the scene or user's field of vision must typically be put in front of one or both users' eyes. Modern mobile devices are untethered, enabling study in contexts that are considerably more relevant to everyday life, including sports, automobile & simulator use, motor-control & gait tests, and athletics. These are predicted to be the major factors fueling the 3D eye tracking software market size.

By application, the scientific research segment dominated the global 3D eye tracking software market share in 2021. It is possible to get important insight into development, learning patterns, and indicators of cognitive dysfunction or disease by examining visual behavior, such as those seen in individuals with Alzheimer's, Parkinson's, schizophrenia, autism, depression, and brain injury. 3D eye tracking software can be used to identify and study reading or learning disabilities such as dyslexia.

By end-use industry, the retail segment dominated the global 3D eye tracking software market share in 2021. 3D eye tracking software provides in-depth and unbiased data on customer behavior and thought processes. It enables brand owners and market analysts to examine the steps customers take to view and choose a product. It demonstrates to them which aspects naturally drew the most attention and which ones were disregarded. Eye tracking, which provides more accurate information than surveys or questionnaires, is important for creating advertisements, brands, packaging, and product placement.

By region, North America dominated the global 3D eye tracking software market in 2021. The dominance of this region can be attributed to rise in government spending in building technologically advanced tracking solutions. Further, rising penetration of electric vehicles wherein integration of 3D eye tracking software is rapidly surging to provide virtual driver assistance. This factor is likely to fuel the 3D eye tracking software market in the coming years. Moreover, rise in sales of robotics configured 3d eye tracking devices  across various industries mainly automotive, metals & mining, and healthcare industry is fueling the global 3D eye tracking software market forecast period.

Impact of COVID-19 on the Global 3D Eye Tracking Software Industry

• COVID-19 has negatively impacted various industries such as automotive that has led to a drastic decline in automotive sales. As 3D eye tracking software is widely used in automotive, there was significant reduction in the 3D eye tracking software demand globally.
• The COVID-19 pandemic brought several uncertainties leading to severe economic losses as various businesses across the world were standstill. This lowered the demand for 3D eye tracking software due to lack of investment from major market players in 3D eye tracking technology.
• Sales of 3D eye tracking software is directly proportional to the demand from end-use industries namely automotive, retail, research, and others. However, the demand for 3D eye tracking software in retail industry was affected owing to import-export restrictions, closed borders, and supply chain disruptions due to the outbreak of the COVID-19 pandemic.
• The COVID-19 pandemic has slowed the rate of expansion of the eye tracking industry. Product demand was impacted by the shutdown of key consumer electronics, retail, automotive, and manufacturing industries.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the 3d eye tracking software market analysis from 2021 to 2031 to identify the prevailing 3D Eye Tracking Software Market Opportunity.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the 3d eye tracking software market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global 3d eye tracking software market trends, key players, market segments, application areas, and 3d eye tracking software market growth strategies.

 3D Eye Tracking Software Market Report Highlights