According to a new report by Allied Market Research, titled, Global Eye Tracking Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 20182024, the global eye tracking market was valued at $456.3 million in 2017, and is projected to reach $1,818.1 million by 2024, registering a CAGR of 37.1% from 2018 to 2024.
An eye tracker is a device for measuring eye positions and eye movement. Eye tracking involves measuring of either the point of gaze (where one is looking) or the motion of an eye relative to the head.
In 2017, the head-mounted eye tracker segment dominated the eye tracking market, in terms of revenue, due to increase in demand for assistive communication devices and wide application areas offered by eye-tracking technology.
Based on region, North America was the highest revenue contributor to the market in 2017, accounting for around 36.3% share, due to rise in the rapid growth of eye tracking in new applications such as lie-detecting systems and video gaming industry.
The report features a competitive scenario of the eye tracking market and provides a comprehensive analysis of the key growth strategies adopted by major players. The key players in the global market are Tobii AB, LC technologies , Eyetech Digital Systems , Ergoneers GmbH, Smart Eye AB., Mirametrix Inc., Pupil Labs GmbH, Seeing Machines, SR Research Ltd., and Gazepoint.
These players have adopted various competitive strategies such as innovation, new product development, and market expansion to boost the growth of the market.
Key Findings of the Eye Tracking Market :
- The head-mounted eye tracker segment accounted for the highest share in 2017, growing at a CAGR of 21.6% from 2018 to 2024.
- The consumer behavior research application segment generated the highest revenue, accounting for $192.8 million in 2017.
- Asia pacific is expected to dominate the market, in terms of market share, during the forecast period.