A three-pronged approach was followed for deducing the eye tracking market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:
Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for eye tracking market to gather the most reliable and current information possible.
Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of eye tracking market data depending on the type of information we’re trying to uncover in our research.
Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.
Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.
Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.
Qualitative Functional Deployment (QFD) Modelling for market share assessment.
Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.
Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.
Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.
This step also entails the finalization of the report scope and data representation pattern.
Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.
The eye tracking market was categorized into five segments, namely type (Eye Attached Tracking, Optical Tracking, Electrooculography), component (Hardware, Software), location (Remote, Mobile), application (Healthcare, Retail, Research, Automotive, Consumer Electronics), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).
The eye tracking market was segmented into type, component, location, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:
Demand estimation of each product across countries/regions summed up to from the total market.
Variable analysis for demand forecast.
Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.
Primary interviews for data revalidation and insight collection.
Used extensively for new product forecasting or analyzing penetration levels.
Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.
Primary interviews and vendor-based primary research for variable impact analysis.
The eye tracking market was analyzed at a regional level. The global was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into nine countries, namely, the U.S.; Canada; Mexico; the UK.; Germany; China; India; Japan; Brazil.
All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.
The eye tracking market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:
Tobii AB - Tobii AB, established in 2001 by Marten Skogo, Henrik Eskilsson, and John Elvesjo, is headquartered in Danderyd, Sweden. The company distributes its products through various channels including distributors, agents, and resellers. Tobii operates in three segments: Tobii Tech, Tobi Dynavox, and Tobii Pro. The Tobii Tech segment specializes in providing eye tracking solutions for various applications, including smartphones, computers, virtual reality, cars, and gaming. Tobii Dynavox offers innovative solutions such as eye-controlled products for individuals with speech impairments, touch-based special education software, and devices that assist people with communication or mobility challenges. Tobii Pro focuses on providing analytics software, screen-based tracking, and eye tracking hardware products. Tobii has established partnerships with renowned companies such as Avalanche Studios, Intel Corporation, Synaptics Incorporated, Stillalive Studios, Unreal Engine, and SteelSeries.
SR Research Ltd. - SR Research Ltd., established in 1993 and headquartered in Ottawa, Canada, specializes in oculomotor and psycholinguistics research, cognitive psychology related to smooth pursuit, and patient-based studies. The company provides its customers with diverse products, including the EyeLink portable duo, EyeLink 1000 Plus, and eye tracking systems for Magnetic Resonance Imaging (MRI) and Magnetoencephalography (MEG). Additionally, their services encompass DataViewer, patient-based research, gaze control paradigms, gaze contingent techniques, usability and applied research, non-human primates research, and experiment building. The EyeLink eye trackers have been referenced in approximately 3290 peer-reviewed publications, covering various research areas such as oculomotor research, reading and psycholinguistics, life span psychology, cognitive psychology, Transcranial Magnetic Stimulation (TMS), microsaccades, smooth pursuit, vergence, usability, and applied research, as well as scene camera/real world viewing publications. SR Research Ltd. collaborates with esteemed partners, including ISEN Tech Trading Co., Ltd. (China), Deltan International Trading Co. Limited (Hong Kong), Zero C Seven, Inc. (Japan), Scitech Korea Inc. (Korea), and KYS Technology Co. Ltd (Taiwan).
iMotions A/S - iMotions A/S, a Danish company founded in 2005 and headquartered in Herley, specializes in providing and licensing eye tracking software for usability and research purposes. It’s hardware and software products cater to market researchers, marketers, universities, media agencies, and advertising agencies. In addition, iMotions A/S offers a diverse range of modules, including sensor sync, usability, reading, emotion, study sharing, survey, and dynamic media modules. The company's clientele includes renowned organizations such as Procter & Gamble, Unilever, BMW AG, Expedia, Inc., Harvard Medical School, Stanford University, Nielsen Holdings PLC, and Duracell Inc. iMotions A/S serves various industries, including neuromarketing, psychology, human behavior research labs, human-computer interaction, healthcare/medical, virtual reality, neuroscience, and engineering.
Gazepoint Research Inc. - Gazepoint Research Inc. was established in 2013 by Craig Hennessey, Johnny Tam, and Julie Robillard. The company, headquartered in Vancouver, Canada, specializes in the research and development of eye trackers, making it a leading third-generation gaze tracking company. Gazepoint Research serves many customers, including Intel Corporation, Microsoft, Harvard School of Engineering and Applied Sciences, Samsung, General Motors, Stanford University, Boeing, Dolby Laboratories, HP Development Company, L.P., General Electric, and International Business Machines Corporation. The company's applications, such as Gazepoint Analysis UX edition, are utilized for usability testing, academic research, assistive tech, and human behavioral research, providing valuable solutions to its clients.
EyeTech Digital Systems, Inc. - EyeTech Digital Systems, Inc., established in 1996 and headquartered in Arizona, USA, specializes in developing and producing hardware and software solutions for interactive displays controlled by gaze, eye tracking research, and hands-free computer control for individuals with disabilities. The company's hardware product line includes TM5 Mini, VT3 Mini, board level eye tracking, and specialty hardware. Their software offerings consist of QuickCapture, QuickLink, QuickKiosk, and QuickAccess. Additionally, EyeTech provides engineering services and licensing for all stages of eye tracking integration projects through their EyeTech Engineering services. Other services offered by the company include integration and consulting, software development, feasibility studies, and hardware design services. EyeTech serves a diverse range of industries, including automotive, entertainment and interactive displays, ACC and disability, mobile devices, medical and healthcare, research, wearables, head-mounted displays, and security and safety applications.
Smart Eye AB - Smart Eye AB, established in 1999 and based in Gothenburg, Sweden, specializes in innovative eye tracking and analysis solutions. The company's diverse range of products includes the compact camera system, Blackbird, and the real-time driver analysis tool, AntiSleep. Additionally, Smart Eye offers a selection of cutting-edge research instruments such as the high-end remote eye tracker, Aurora, and the versatile multi-camera system, Smart Eye Pro. These instruments and accompanying software allow for comprehensive data analysis and visualization from various sources, including scene-cameras, screen-grabs, physiological data, simulator data, and eye tracking. Smart Eye's research instruments find applications in multiple fields, including automotive, aerospace, communication, psychology, aviation, neuroscience, clinical, and medical research. Furthermore, their applied solutions cater to OEM applications in the transportation and automotive industries.
EyeTracking, Inc. - Dr. Sandra Marshall and her colleagues from the Cognitive Ergonomics Research Facility established EyeTracking, Inc. in 1999. Headquartered in California, USA, the company specializes in providing eye tracking software, services, and expertise in cognitive workload research and visual behavior. In addition to its flagship software offerings, EyeWorks, Quad Server, and Cognitive Workload, the company develops customized software solutions. Their clientele spans across marketing research, scientific applications, usability testing, and training. EyeTracking, Inc. has partnered with international distributors such as Creact International Corporation in Japan, INNOSIMULATION in Korea, and TEA in Europe to provide eye tracking hardware and software. Notable customers of the company include Fujitsu, Maxim Systems, Inc., Matsushita Avionics (MAS), Motorola, Boeing, National Aeronautics and Space Administration (NASA), Alliance Data Systems, and Marketing Support, Inc.
Mirametrix Inc. - Mirametrix Inc., founded in 2011 and headquartered in Quebec City, Canada, specializes in producing, advancing, and distributing gaze tracking systems. These systems are utilized in content analytics and vision research applications. The company provides a range of products and services to its customers. This includes the Eye Tracking Viewer software, which enables the tracking, monitoring, and recording of eye gaze data. Additionally, they offer the S2 Eye Tracker, a portable hardware device that accurately determines the user's focus on the computer screen in real-time. To facilitate interaction with the S1 Eye Tracker, Mirametrix Inc. also offers the Eye Tracker API. Mirametrix Inc. caters to various industries and applications, including market research, software usability, academic research, scientific research, game design, and education. The company has established partnerships with renowned institutions and organizations such as The University of Aukland, Microsoft Corporation, Intel Incorporation, The University of Lowa, The Franklin Institute, NeuroSpire Inc., the University of Victoria, and Ontar Corporation.
Seeing Machines Limited - Seeing Machines Limited, established in 1999 by four researchers at the Australian National University (ANU), is headquartered in the Australian Capital Territory, Australia. The company specializes in developing and selling hardware and proprietary algorithms that enable machines to interpret human eyes and facial expressions. Their product lineup includes Guardian, a driver safety system that reduces fatigue and prevents incidents proactively; FOVIO, a driver monitoring system; and DSS services and products for managing and detecting driver distraction and fatigue. Additionally, they utilize LEDs and reflective technology for manufacturing display products. Seeing Machines Limited has formed strategic partnerships with renowned companies such as Electro-Motive Diesel, Caterpillar, Boeing, Panasonic Corporation, Robert Bosch GmbH, and LG Electronics. Their clientele spans across various industries, including mining, automotive, commercial road transport, aviation, rail, and consumer electronics.
LC Technologies, Inc. - LC Technologies, Inc. was established in 1986 by a team of engineers in Virginia and is currently headquartered in the United States. The company specializes in developing and producing hardware and software solutions incorporating eye tracking technology. LC Technologies serves diverse industries in 44 countries across North America, Latin America, Asia, and the Middle East, including defense, gaming, research, hospitals, and automotive. Among its product offerings for assistive and research applications are the Eyegaze Edge Tablet, Eyegaze Edge Desktop, The EyeFollower, EAS Monocular, EAS Binocular, and Nyan 2.0.
Supply Side Estimates
Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.
Segment revenue determination via variable analysis and penetration modeling.
Competitive benchmarking to identify market leaders and their collective revenue shares.
Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.
Demand side estimates
Identifying parent markets and ancillary markets
Segment penetration analysis to obtain pertinent
Heuristic forecasting with the help of subject matter experts
Forecasting via variable analysis
Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.
Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.
Understanding market estimates and forecasts (with the base year as 2021, historic information from 2017 to 2020, and forecast from 2022 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.
The report provides market value for the base year 2021 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.
The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.
We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.
All market estimates and forecasts have been validated through primary interviews with the key industry participants.
Inflation has not been accounted for to estimate and forecast the market.
Numbers may not add up due to rounding off.
Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).
Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).
Latin America includes Central American countries and the South American continent
Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.
GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.
We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:
Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.
Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.
The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.
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