Market Trends of Eye Tracking Solutions Industry
This section covers the major market trends shaping the Eye Tracking Solutions Market according to our research experts:
Demand for Eye Tracking Expected to Grow Significantly Across Healthcare Segment
- Eye tracking has become helpful in clinical studies in fields including neurodegenerative illnesses, neuropsychiatric disorders, neurological ailments, and ophthalmology, among others. Furthermore, eye tracking is a powerful visual assessment technique that may supplement training and evaluation approaches in simulated medical settings. It can, for example, offer data wherever a surgeon is gazing during surgery. The increasing use of eye-tracking technologies in healthcare applications is expected to boost market growth over the forecast period.
- Healthcare companies are also increasing the adoption of eye-tracking solutions to improve ailment diagnosis, which is expected to propel market expansion over the forecast period. For example, in December 2021, Tobii's eye-tracking software was added to the platform of XRHealth, a virtual reality clinic that offers therapies in patients' homes. This made it possible for doctors to treat people with multiple sclerosis (MS) and other neurological diseases.
- Similarly, in November 2022, Gaize, Inc. declared the completion of the clinical investigation on cannabis impairment. The experiment was carried out in collaboration with dicentra, a contract research organization (CRO) based in Toronto, Canada, to enable safe data collection utilizing the Gaize gadget before and after cannabis ingestion and to assure the participants' safety while impaired and using the device. Gaize's portable, non-invasive measuring equipment was employed in the 350-person research to assess eye motion and pupillary reflex response alterations. The Gaize gadget is customized virtual reality (VR) headgear with eye-tracking sensors incorporated. It runs on a battery of automatic ocular motion and pupillary reflex assessments while recording high-resolution eye movement information and video.
- Furthermore, investments are also being made to explore new use cases. For instance, according to the NIH, the total clinical research funding made in the United States amounted to USD 18,383 million, which is expected to grow steadily during the forecast period. Thus, the increasing R&D investments are expected to develop new market opportunities and use cases for the adoption of eye tracking solutions in the healthcare sector during the forecast period.
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North America To Hold a Significant Market Share
- North America is expected to grow significantly in the eye-tracking market over the forecast period. High adoption of advanced technologies and a rise in the use of automation and sensors across the region is expected to boost the market growth. Furthermore, the sophisticated healthcare infrastructure in the United States has led to the adoption of new-generation innovations, which has contributed to the market growth in the region.
- Increasing the use of eye tracking in entertainment and sports activities to boost performance is expected to contribute to regional growth. For instance, in September 2022, SyncThink, a neurotechnology business that collaborates with more than 20 professional and collegiate sports teams, announced its plans to accelerate its expansion in the brain healthcare industry. The Eye-Sync eye-tracking analytics program that integrates with a virtual reality headset is used by various U.S. professional and college sports teams to detect concussions and monitor athlete fatigue. The company has also received approvals to expand its product into Europe.
- Government investments in eye-tracking technology to increase health and safety for army aviation personnel are expected to boost the market growth in the region over the forecast period. For instance, in March 2022, The United States Army Aeromedical Research Laboratory (USAARL) engaged in a joint research and development arrangement with EyeTracking, LLC, a San Diego-based firm that employs eye-tracking equipment to quantify human performance objectively. The USAARL's objective is to protect the security and health of Army aviation troops and other Warfighters while maximizing mission effectiveness. This involves establishing secure methods to monitor their psychological, physiological, and behavioral state while on the job.
- The increased vehicle production is also expected to boost the demand for eye-trackers since the technology is widely being studied and adopted for enhancing driver safety by eliminating distractions and providing timely alerts to lower the possibility of road accidents. According to OICA, total automobile manufacturing in the United States was 9.17 million units in 2021. This, high vehicle production across the region, thus, creates a favorable market scenario for the growth of the studied market.
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