Eye Tracking Market Opportunities and Challenges
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The mobile eye tracking market is expected to witness significant growth 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.
The market for software is expected to witness significant growth during the forecast period. The growth in the software market can be predominantly attributed to the rising expenditure in market research activities by large FMCG companies and retailers. Leading eye-tracking service providers are generating revenue from large FMCGs and retailers by offering eye-tracking based user data and preferences. The use of eye-tracking software for training services in the automotive and aviation sectors are also expected to contribute significantly to the growth of the market.
Among all verticals, the eye tracking market for automotive & transportation is expected to grow at the highest CAGR from 2020 to 2025. The 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.
Among all regions, the eye tracking market in APAC is expected to grow at the highest CAGR during the forecast period. APAC is the most attractive business destination for eye-tracking products and solution providers due to the growing consumer electronics and automotive & transportation industries in this region.
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Key players in the eye tracking market are grabbing opportunities by launching new products and expanding their global reach. Besides, expansions and product launches; partnerships, agreements, and acquisitions were a few of the other strategies adopted by companies in this market to strengthen their market position.
Mr. Aashish Mehra
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MarketsandMarkets™ 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™ for their painpoints around revenues decisions.
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