3D Eye Tracking Software Market Expected to Reach $1.8 billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “3D Eye Tracking Software Market," The 3d eye tracking software market size was valued at $153.70 million in 2021, and is estimated to reach $1.8 billion by 2031, growing at a CAGR of 27.8% from 2022 to 2031.

3D eye tracking is the act of detecting eye movements to establish where a person is looking, what they are looking at, and how long their gaze is at one location. As eye tracking is the sole means to precisely & objectively assess and comprehend visual attention, it is frequently employed by researchers and enterprises wanting to study human behavior as eyes are one of the main instruments  utilized for decision-making and learning.   

An eye tracker projects light onto the eye and records the direction it is reflected off the cornea using indiscernible near-infrared light and high-resolution cameras. The eye's position is then calculated, along with its precise focus, using sophisticated algorithms. As the position of the eye may be mapped numerous times per second, it is possible to measure & investigate visual activity and fine eye movements. The scene that a person is viewing can also be recorded, and eye tracking software can be used to create a visual map of how the person saw the scene's parts.

Gesture technology can be used to control computing devices and communicate with other people or the environment. As a result, gesture recognition technology is an important contender for assistive communication applications. However, a limited number of patents or users can only use gesture recognition devices. The impact of this restraining factor on the 3D eye tracking software market analysis is currently moderate/medium and is expected to remain so during the forecast period.

The demand for augmented reality (AR) and virtual reality (VR) devices is increasing due to a variety of factors, including the ability to provide users with an enhanced experience, improve image quality, assist eyes in reducing strain, and improve focus. 3D eye tracking technology can be integrated into AR/VR devices such as headgears and PCs, providing opportunities for growth. Many industry leaders have recognized this opportunity and have conducted research into these fields. Website testing is one of the most appropriate examples. Here, it is possible to gauge user attention to the website's primary points/contents, communication, and Call to Attention (CTA). If a product is difficult to find on a website, the website owner might lose money. Therefore, the revenue would grow if the website could be enhanced to make finding a product easier. The same programs can be utilized on tablets and mobile phones.

The 3D eye tracking software market is segmented on the basis of type, application, end-use industry, and region. By type, it is classified into mobile systems, remote eye tracking, and tower-mounted eye tracking. By application, it is categorized into scientific research, marketing & user research, and industry & human performance. By end-use industry, it is fragmented 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 key players profiled in the 3D eye tracking software market 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 report offers a comprehensive analysis of the global 3D eye tracking software market trends by thoroughly studying various aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working toward the growth of the market. The report also sheds light on the present scenario and upcoming trends & developments that are contributing to the 3D Eye Tracking Software Market Growth. Moreover, restraints and challenges that obstruct the market growth are also profiled in the report along with the Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers & suppliers, threats of fresh players, and emergence of substitutes in the market.

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

• Sales of 3D eye tracking software is directly proportional to the demand from retail, gaming, automotive, and research industry. However, sectors such as retail and automotive were negatively impacted by the COVID-19 pandemic, which has affected the demand for 3D eye tracking software due to disrupted supply chain.
• COVID-19 impacted all industries and the 3D eye tracking software producing companies ceased their operations owing to import-export restrictions, lockdown imposed across several countries, shortage of labor: and the fear of contracting the novel coronavirus.
• Social distancing norms, closed borders, and production constraints due to the pandemic across various countries such as China, India, and the U.S. have affected the global market.
• During COVID-19 pandemic, the global semiconductors and electronics industry has seen a variety of developments, with manufacturing and other heavy industries encountering operational issues due to restricted cash flow during the pandemic.

Key Findings of the Study

• By type, the mobile systems segment emerged as the global leader in 2021 and remote eye tracking segment is anticipated to be the fastest growing segment during the forecast period.
• By application, the scientific research segment emerged as the global leader in 2021 and marketing & user research segment is anticipated to be fastest growing segment during the forecast period.
• By end-use industry, the retail segment emerged as the global leader in 2021 and robotics segment is predicted to show the fastest growth in the upcoming years.
• By region, the North America registered the highest 3D eye tracking software market share in 2021 and is projected to maintain the position during the forecast period.