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Eye Tracking Market Set for Huge Growth in the Near Future

01-18-2018 10:36 AM CET | IT, New Media & Software

Press release from: Transparency Market Research

/ PR Agency: Transparency Market Research
Eye Tracking Market Set for Huge Growth in the Near Future

Eye tracking, at its most basic, is keeping a tab on eye activity. It studies what we look at, what we ignore, and how we blink. It also examines how the pupil reacts to various stimuli. The concept is simple, however the procedure and interpretation can prove to be complicated.

In eye tracking, data is mostly gathered leveraging an “eye tracker,” which can either be head-mounted or remote and connected to a computer. Such eye trackers are mostly comprised of a camera and a light source. The light source, infrared mostly, is directed toward the eye, while the camera tracks its reflection along with visible ocular features such as the pupil. With the evolution of technology, such eye trackers have become non-intrusive.

The data gathered from eye tracking is then analyzed using various software. Apart from analyzing the visual attention, eye data can also be scrutinized to gauge the workload and cognitive state of the subject. Eye tracking finds application in different areas ranging from automotive to medical and defense. They use eye tracking to ensure safety and well-being of the participants.

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Besides, advertising and entertainment, packaging, and web design industries are also benefitting from the information gathered about their consumers’ behavior from their eye tracking. They are finding many new applications almost every day and this is opening up new opportunities in their market.

Despite such promising prospects application-wise, the demand for eye tracking devices is getting hampered because of its high cost. Rising use of contact lenses is also serving to slow down their uptake since those can disrupt the functioning of eye tracking devices.

However, with constant product development their prices are expected to come down in the future and their design is expected to become more sophisticated thereby buoying sales eventually.

Eye tracking refers to the procedure of locating, following, and recording a person’s gaze. Various technologies exist for the completion of this electronically-driven procedure, some of which rely on the images of the eye taken without any physical contact and other methods involve attachments to the eye. Therefore, eye tracking is simply measuring the activity of the eye, analyzing, where the eye looks at, what the eye ignores, when the eye blinks, and how does the pupil of the eye react to different stimuli.

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Remote control or a head-mounted eye tracker device is connected to a computer for collecting eye-tracking data. This data is then used to extrapolate the rotating of the eye and the direction of the gaze. Further, the collected data is saved to a file that is compatible with an eye tracking analysis software, such as the Eye Works. Eye tracking techniques are used in a variety of fields, such as, medicine, marketing, psychology, engineering, and education.

Developments in the field of medicine and healthcare and increase in the number of e-book readers are likely to drive the expansion of the global eye tracking market.

Eye tracking devices come with certain disadvantages such as high cost and the presence of contact lenses creates a disruption in the functioning of eye tracking devices. These factors are expected to create hindrances in the expansion of the global eye tracking market.

The global eye tracking market can be segmented into applications, end-user industries, and geography. In terms of applications, the market can be further segmented into medical diagnostics, psychology research, personal computers and gaming, usability research, packaging research, and others. In the field of medical research or medical diagnostics, eye tracking method finds application in diagnosing diseases such as autism spectrum disorder, schizophrenia, Parkinson’s and Alzheimer’s, and obsessive-compulsive disorders. It is also employed to detect drowsiness and support various fields of medicine. Furthermore, in the field of psychology research, eye tracking helps in measuring and correlating movements of the eye with the functioning of the brain.

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Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations

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