Expansion of Eye Tracking Systems Market Projected to be supported by Significant Investment

Market Overview

Consumer preference and safety are the two pivotal pillars guiding the retail and automobile industry. Critical information of the preference of consumer can be gathered through the way a viewer look at any website or at product and the duration of viewing particular thing. Also with numerous fatalities associate with driver fatigue and drowsiness behind the wheel it’s important to adopt precautionary measure. Eye tracking system are therefore key amalgamation of software and hardware which allows allowing retailer, automotive OEM’s and researchers to assess and track the eye movements of the person to assess behavior and movements.

Eye tracking system is allows to measure relative motion of eye and most importantly the point of gaze of the person. Not limited to only retail and automotive application, eye tracking system are also used for human-computer interaction, psycholinguistics, visual system, product design, marketing and psychology. The advancement in eye tracking system technology, leading car manufacturers are collaborating with eye tracking system provider to incorporate safety measure and improve drivability. With opportunity not only limited to automobile, the eye tracking system technology is also being tested for aviation application .Additionally, with increasing earthmoving equipment accidents, leading construction and mining equipment manufacturer are partnering and eye tracking system providers and suppliers to ensure safety of their expensive equipment and mitigate the chance of accidents.

The eye tracking systems market sales are driven by increasing adoption system for social media and market research. These systems are enabling marketers, developer and website designer to pretest or psychoanalyze the behavior of the recipient or the customer. With multiplying owing to limited awareness of eye tracking system technology and high cost of application the sales of eye tracking system market are yet to reach their full potential. The major trends observed in the global eye tracking system market are the use of multi camera systems that provides 360 degree view and is more accurate.

Developments for integrated system with heart rate monitoring, facial expression recognition is anticipated to be adopted in the anticipated future with the advent of fully autonomous vehicle. Likewise with growing predominance of virtual reality hardware and software in medical diagnostics and gaming is expected to create significant opportunities during the forecast period.

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Market Segmentation

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Regional outlook

The market can also be segmented on the basis of region by North America, Latin America, Eastern Europe, Western Europe, and Asia-Pacific excluding Japan, Japan, Middle East and Africa. Key markets with maximum revenue contribution include in the North America and Western Europe with automotive and market research segments driving the sales of the eye tracking systems market. The emerging market for self-driving and hybrid automobiles in Japan, U.S. and Germany is expected to drive global sales of the eye tracking system market for the initial time period of the forecast period. Likewise, key economies of China, India and Korea are expected to create a sustainable demand for the eye tracking systems market with contribution from healthcare, Entertainment and Market research application. Middle East and Africa and Latin America eye tracking systems market are expected witness significant high value market growth post 2018 with increasing application for eye tracking systems in healthcare and automobile.

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Key players

Some of the key players participating in the evolving dynamics of the eye tracking systems market are Seeing Machines, Tobii AB, Sensomotoric Instruments GmbH, Smart Eye AB, LC Technologies, Inc., Smart Eye AB, iMotions, Inc., EyeTech Digital Systems, Inc., General Motors, Polhemus, Eye Tracking, Inc and The EyeTribe among many others.

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