FELTON, California, July 20, 2020 /PRNewswire/ -- The global eye tracking market size is projected to touch USD 1.75 billion by 2025, as per the report released by Million Insights. It is estimated to grow with a CAGR of 26.3% from 2018 to 2025. Vision catching systems are widely used to decide the duration and correct location of a user's attention.
These systems comprise of processing data, deciding fixation point, recording pupil movement, filtering useful data using the software. The clean data can be processed and used for several applications in retail, consumer electronics, automotive, research and healthcare industries.
Eye movement recognition is a crucial aspect being deployed in VR headsets. Fove, Inc. in July 2016, introduced its eye-tracking VR headset that can directly fuse with eye-tracking sensors embedded in the headset to monitor, user's attention. Vision tracing is projected to allow foveated rendering, a new technology that uses most of the computer graphics to monitor user's surfing while keeping all other content in low quality.
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Vision tracking applications can be widely used in the biomedical and healthcare sectors. For example, vision tracing sensors assisting in finding head trauma. However, recently, sight tracing is extensively being preferred in consumer electronics and automotive applications.
North America held a revenue share of more than 48.0% in 2017. The U.S. is the key revenue contributor due to the widespread adoption of contactless biometric and smart sensors. Most of the leading players in the eye tracking market are based in China, Germany, the U.S., and Japan. Asia Pacific is projected to exhibit a CAGR of over 30.0% from 2018 to 2025 owing to the growing preference for vision tracing especially in consumer electronics applications.
Further key findings from the report suggest:
- The optical tracking division is anticipated to ascend with a CAGR of 24.0% from 2018 to 2025 and predicted to occupy the largest share of revenue by 2025. The eye attached tracking division occupied the second-largest share in 2017.
- The healthcare division is expected to hold a 24% revenue share by 2025.
- North America occupied the major share in revenue in 2017 and is expected to maintain its lead in the upcoming years.
- The military & defense division is projected to lead from 2020 to 2025. Rising cross-border conflicts have increased the demand for barrier solutions in the defense industry.
- The leading players of the market are Seeing Machines, SR Research Ltd., and Tobii AB.
Browse 145 page research report with TOC on "Global Eye Tracking Market" at: https://www.millioninsights.com/industry-reports/global-eye-tracking-market
Million Insights has segmented the global eye tracking market on the basis of type, component, location, application, and region:
- Eye Tracking Type Outlook (Revenue, USD Million, 2014 - 2025)
- Eye Attached Tracking
- Optical Tracking
- Eye Tracking Component Outlook (Revenue, USD Million, 2014 - 2025)
- Eye Tracking Location Outlook (Revenue, USD Million, 2014 - 2025)
- Eye Tracking Application Outlook (Revenue, USD Million, 2014 - 2025)
- Consumer Electronics
- Eye Tracking Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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SOURCE Million Insights