The eye-tracking industry will hit $1.75 billion by 2025, according to Grand View Research. These are the sectors seeing the most growth.
The eye tracking market is expected to reach $1.75 billion globally by 2025, according to a Monday report from Grand View Research.
Vision capturing systems record pupil movement, determine fixation point, process images and data, and filter relevant data, according to a press release. The purpose of these systems is to track the exact location and duration of an individual's attention visually.
With the adoption of smart sensing technology and contactless biometrics, along with continued growth of artificial intelligence (AI), virtual reality (VR), and augmented reality (AR), eye tracking is gaining popularity, said the report. The industries being affected most by the technology include retail, healthcare, automotive, consumer electronics, research, government and defense, as well as security and surveillance, the report noted.
SEE: Virtual and augmented reality policy (Tech Pro Research)
Contactless biometrics, in particular, such as iris scanning, have been vital for the development of eye tracking technology in the market, said the report. Specifically, the report emphasized how biometric systems are used for security purposes, often implemented in prison management systems and police departments.
For example, the Main Department of Corrections in Washington, DC has already implemented biometric technology, stated the report. Eye scanning technology, the booking and identification process, with the contactless technology proving to be much more efficient than fingerprint scanning, said the report.
Eye tracking technology is also imperative for VR headsets to be effective, the report noted.
Automotive integration is another huge market for eye tracking systems. IT equipment and services company Fujitsu predicts biometric authentication will soon prove to be the standard for locking and unlocking cars, as well as starting vehicles, according to TechRepublic's Alison DeNisco Rayome.
The major companies in the eye tracking market include Seeing machines, Tobii AB, and SR Research Ltd, said the report. In 2017, the North American region held the largest revenue share last year, and this will only increase, said the report.
Check out this TechRepublic article for more information on VR and AR use in the enterprise.
The big takeaways for tech leaders:
- The eye tracking market is projected to reach $1.75 billion worldwide by 2025. -- Grand View Research, 2018
- Security is one of the major sectors with a large eye tracking presence, particularly in the shift away from fingerprint identification. --Grand View Research, 2018