PUNE, India, November 12, 2015 /PRNewswire/ --
According to the new market research report "Eye Tracking Market by Type (Mobile & Remote), by Application (Medical Diagnostics, HCI, Research, & Virtual Reality), by Industry (Marketing, Healthcare, Transportation, Communication & Entertainment) and by Geography - Global Trend & Forecast to 2020", published by MarketsandMarkets, the Eye Tracking Market is estimated to reach USD 1,028.1 Million by 2020, at a CAGR of 35.2% between 2015 and 2020, which includes an exhaustive analysis of the type, application, industry and geography.
Browse 69 market data Tables with 92 Figures across 174 Pages and in-depth TOC on "Eye Tracking Market".
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Eye tracking is an important technique that offers the ability to the provider to know where subject's visual attention is located. Eye tracking provides direct access to the viewer's thought processes through visual behavior analysis, and the data is highly accurate compared to conventional methods. As a result, this technology is widely used in various industry verticals.
Medical diagnostics is expected to lead the application market of eye tracking
The medical diagnostics market accounted for 29% of market share in 2014. It is expected to grow at a CAGR of 34.8% between 2015 and 2020. This is mainly because eye tracking can be used to analyse the human brain and diseases from the eye movement. Eye tracking also works as a tool for neuromarketing and has a good potential for marketing in general. The key applications areas such as brand equity, segmentation, new product development, pricing decisions, place decisions, promotion decisions, and social marketing studies in marketing are driven by the use of eye tracking technology. It works as a tool for analyzing visual attention of the consumers.
APAC is expected grow at a high rate during forecast period
APAC is expected to grow at a CAGR of 36.7% between 2015 and 2020. This is because of the advanced technological changes and new products availability at low cost. There is a lot of research and development carried out in various geographic areas. There are a few companies that are dedicatedly working only in the research and development of the eye tracking technology. The extensive R&D carried out is fueling the growth of eye tracking market.
The report articulates the drivers, restraints, challenges, and opportunities with respect to the eye tracking market and forecast the market till 2020. The report also gives a qualitative and quantitative description about different verticals considered for eye tracking market. This global report gives a detailed view of the market across the four geographical regions, namely, the North America, Europe, Asia-Pacific (APAC), and RoW. North America and Europe are the major contributing regions in terms of market value for eye tracking market, whereas the APAC is been identified as the largest growing region globally.
The market sizing of the global eye tracking market was done by both top-down and bottom-up method. In bottom up approach the market size for each type of eye tracking device was calculated, and then a region wise market for each monitoring type was figured out, and then the summation of revenue of all the regions gave us the overall market-size. In Top-down approach, the top companies in the market are analyzed and their product portfolio is studied to get the global market of the eye tracking market. This overall market is analyzed by percentage contribution of each segment like application and geography. Finally these geographic split of segment market is further analyzed to arrive at the region and country wise break up of overall market.
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The report also profiles the most promising players in the eye tracking market. The competitive landscape of the market presents a very interesting picture where a large number of players have become a force to reckon with. The key players in the eye tracking market are Tobii Ab (Sweden), SensoMotoric Instruments (Germany), SR Research Ltd (Canada), Eye Tracking Inc. (U.S.), Applied Science Laboratories (U.S.), LC technologies Inc. (U.S.), EyeTribe (Denmark), Mirametrix Inc. (Canada), SmartEye (Sweden), IMotions (U.S.), and EyeTech Digital Systems, Inc. (U.S.).
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