Eye Tracking System Market To Undertake Strapping Demand By The End 2028 | FMI
The eye tracking systems market demand is anticipated to reach a value of US$ 1.2 billion in 2022 and US$ 4.9 billion by 2028, growing quickly at a CAGR of 26.6% between 2022 and 2028.
As depicted in a recently released intelligence outlook by Future Market Insights, the global market for eye tracking system will exhibit an exceptionally high growth rate – predominantly driven by brisk technological advances and an expanding application base of eye tracking system in assistive communication devices.
However, the market for eye tracking system will continue to position itself in the high-growth low-volume quadrant throughout the projection period.
FMI anticipates the global eye tracking system market expansion at a massive CAGR of 26.6% between 2018 and 2028. While the capability of eye tracking system to offer unique insights to help comprehend human behavior will remain the most prominent factor driving its demand worldwide, FMI also marks rapid technological advances in software solutions and hardware components to continue fueling the growth of eye tracking system market through 2028.
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Although concerns regarding the safety, privacy, and security of eye tracking data continues to surround the methods used for data collection and use, strong efforts are being taken by some of the leading stakeholders in the eye tracking system market to assure data privacy and security.
Key Research Findings
- Europe and North America, the current leaders in the global eye tracking system market, will continue to represent higher value shares in the total market value throughout 2018-2028.
- The demand for eye tracking system is most likely to gain a significant boost in Asia Pacific by descending price points and an extending application base – especially in the academic research realm and multiple commercial areas.
- Although remote eye tracking system currently dominates the global market, FMI expects the wearable eye tracking system to demonstrate relatively faster growth – accounting for a larger share of revenue in the eye tracking system market by 2028 end.
- Based on application areas, assistive communication has been spearheading in terms of revenue generation. Moreover, smartphones, gaming, and AR/VR have been identified to represent the next big things creating attractive opportunities in the eye tracking system market over the forecast period.
- The critical need for expert resources and services for appropriately using the volumes of relevant and actionable data cannot be overstated, especially in case of research in medical and academic areas, and consumer behavior.
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Combined Use of Eye Tracking System with Biometric Data Facilitating Understanding of Human Decision Making
Though conventionally provided data by eye tracking system involves the position of gaze, fixations, and the areas of interest of the subject that is being tracked vis-à-vis the visual stimuli, industry experts have been repeatedly highlighting the dearth of sufficient insights on the underlying emotions, perceptions, and experiences behind the tracked gaze patterns and fixations. To overcome this longstanding functional challenge, a large number of companies operating in the global eye tracking market are providing eye tracking data in integration with other biometric measures. According to FMI, electroencephalography (EEG), facial expression analysis, and electro-dermal activity analysis are some of the biometric measures that hold the potential to create relevant synergies with the existing eye tracking data.
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