Market Size of North America Eye Tracking Solutions Industry
|2019 - 2029
|Base Year For Estimation
|Forecast Data Period
|2024 - 2029
|Historical Data Period
|2019 - 2022
*Disclaimer: Major Players sorted in no particular order
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North America Eye Tracking Solutions Market Analysis
The North American eye-tracking solutions market is anticipated to reach a CAGR of 19.7% over the forecast period. The increasing use of smart sensors for process control and decision-making and the rising demand for contactless biometrics, coupled with the growing adoption of Artificial Intelligence (AI), Virtual Reality (VR), and Augmented Reality (AR) in consumer electronics & other commercial applications areas are expected to drive the market growth significantly. The industry has been gaining prominence due to the increasing adoption of vision-capturing technology in commercial spaces, particularly in industries and sectors including retail, healthcare, research, automotive, consumer electronics, government & defense, and security & surveillance.
- The increasing demand for contactless biometrics is a significant growth driver for the market. The biometric system is used mainly for security purposes in prison management systems and the defense sector. Defense organizations and police departments deploy iris biometric scanners to identify individuals to tighten their security arrangements.
- For instance, the Maine Department of Corrections in Washington, D.C., implemented iris scanning technology, a contactless technology that is much faster than fingerprint scanning technology. The technology is being used to track jail inmates, authenticate their identity before granting entry into restricted premises, and verify the identity of visitors.
- In January 2022, Omnivision, a global developer of semiconductor solutions, including advanced digital imaging, analog, and touch & display technology, and Tobii announced their partnership to advance solutions for vision in the Metaverse. The jointly-developed eye-tracking reference design is based on Omnivision's industry-leading BSI global shutter (GS) sensor family. It helps extended reality original equipment manufacturers (XR OEMs) speed time to market for high-demand XR consumer electronics products.
- Further, in September 2022, Tobii, a provider of eye-tracking solutions, formed an agreement with HeadVantage, a U.S.-based start-up working with NBC Sports and Sky Sports, to outfit athletes with microscopic cameras and sensors, incorporating eye-tracking technology. The collaboration allows sports fans to view through players' eyes, better comprehend the decision-making process, and assist athletes in training and improving in various sports.
- In October 2022, Meta presented the Meta Quest Pro at Meta Connect 2022. The company's yearly conference specializes in augmented and mixed reality. The Meta Quest Pro is the first item in Meta's new range of high-end gadgets. It has several advanced technologies, such as high-resolution detectors for mixed reality (MR) experiences, LCD screens, an entirely new design, eye-tracking, and natural facial expressions to make users' avatars in virtual reality (VR) mirror them more realistic.
- Further, the development in SaaS for the automotive sector boosted the studied market. For instance, in April 2023, Entegral announced the launch of Smart Assist, a vehicle claim assistance product designed for mobile device use in North America. This new SaaS (software as a service) offering puts more control directly into the customer's hands after a collision and, in the process, helps to digitize and automate the claims journey from the first notice of loss.