Press release
Rising Adoption of Eye-Tracking Technology in Advertisement and Consumer Research
The eye tracking market is expected to grow from USD 560 million in 2020 to USD 1,786 million by 2025; it is expected to grow at a CAGR of 26.1% during the forecast period. The high demand for eye trackers in the healthcare vertical, especially for the assistive communication application is one of the key driving factors for the eye tracking market. The increasing penetration of eye tracking technology in the consumer electronics vertical, and high demand for eye trackers for personalized advertisements and consumer research purposes are a few other key factors having a positive impact on the growth of the eye tracking market.https://www.marketsandmarkets.com/Market-Reports/eye-tracking-market-144268378.html
Market for mobile eye tracking to grow at highest CAGR during forecast period
The market for mobile eye tracking is expected to grow at a higher CAGR during the forecast period. Mobile eye tracking provides more degree of freedom for the subject, which entails more natural head and eye movement to be recorded. This approach is gaining traction in market research applications, especially in the retail and advertisement sector. The increasing demand for on-field market research by large FMCG companies and retailers is expected to spur the growth of the mobile eye tracking market.
Assistive communication application to account for largest market share during forecast period
The eye tracking market, by application, is segmented into assistive communication, human behavior & market research, and others. Assistive communication application is expected to dominate the eye tracking market, in terms of size, during the forecast period. The need for effective assistive communication devices for physically impaired people and improvements in eye tracking technology has led to the growth in the demand for eye trackers in the healthcare vertical, this is the primary reason behind the largest share of this segment in the eye tracking market.
The eye tracking market for the automotive & transportation vertical is expected to witness the highest growth during the forecast period. Rise in the adoption of eye tracking technology in the automotive & transportation vertical for integration in driver monitoring systems is the major reason for the high growth of this vertical in the eye tracking market. Eye tracking technology is considered as an effective technology to detect drowsy or distracted drivers due to which this technology is increasingly being integrated into driver monitoring systems. The healthcare & research labs vertical is expected to dominate the eye tracking market, in terms of size, during the forecast period.
Mr. Shelly Singh
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MarketsandMarkets(TM) provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets(TM) for their painpoints around revenues decisions.
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