Smart sensors are devices that utilize their internal resources and gather information from the physical environment to carry out predetermined functions upon detecting specific inputs and subsequently process the collected data. Smart sensors find applications in various industries, including entertainment, medical, consumer electronics, industrial, security & defense. The automotive sector has witnessed a surge in the use of smart sensors for sensing and controlling processes, leading to their increased adoption. These sensors can be employed for various purposes, such as executing logical functions, facilitating two-way communication, and aiding decision-making. By enabling real-time detection of gestures and movements, smart sensors empower devices with a certain level of decision-making capabilities. The demand for consumer electronics and automobiles has been a driving force behind the growing application of smart sensors. In the healthcare and biomedical sectors, these sensors have been utilized effectively, with eye-tracking sensors assisting in the detection of head trauma, concussions, and even autism in children before they can speak. In the automotive industry, smart sensors are employed in airbag systems, while in the industrial sector, they are used for environmental pollution control and monitoring. The avionics industry uses smart sensors for collision avoidance and traffic alert systems. The increasing demand for these applications and related industries has led to a significant rise in the adoption of smart sensors, consequently driving the eye-tracking market.
The projected value of the global Virtual Reality (VR) market is estimated to reach $48.5 billion by 2025. Investment in the virtual and augmented reality market has seen significant growth, rising from $15.0 million in 2012 to $1.9 billion in 2015, and it is expected to reach approximately $6.1 billion by 2025. The gaming sector has accounted for around 60.0% of this investment, driving the demand for enhanced technology within the industry. Key market players have reduced the time gap between the release of gaming hardware, devices, and accessories as they continuously strive to upgrade their offerings to cater to gamers' needs. Leading companies specializing in console and virtual reality headsets and other accessories introduced their latest products in 2016 and 2017. Notable competitors in this market include Sony Corporation, HTC Corp., Oculus VR LLC, Avegant, Google, Inc., and Microsoft. Sony Corporation reported the sale of 40.0 million PlayStation 4 units by mid-2016, while Microsoft sold approximately 20 million Xbox One and Nintendo sold around 12.8 million Wii U consoles. Companies are actively involved in the development of mobile VR, as they anticipate it will capture a significant share of the overall VR market's revenue in the coming years. For example, Sony Interactive Entertainment released PlayStation VR in October 2016, specifically designed to be fully compatible with the home video game console PlayStation 4.
The eye tracking technology enables the gathering of data to deduce the cognitive workload and activity of users. Initially, this technology was utilized as a computer interface in healthcare and defense applications. However, it has recently found its place as an input device in the consumer electronics industry. Nevertheless, integrating eye tracking equipment into existing systems remains challenging for system integrators. The eye tracking system has been commercialized and is predominantly available as an off-the-shelf product, complicating the integration process. Additionally, the eye trackers generate substantial data that requires processing and storage. When used as an input device, this data needs to be processed in real-time or near real-time. Furthermore, the eye tracking system encounters interoperability issues, such as difficulties caused by glasses or lenses worn by users, individuals engaged in deep thinking, and people with vision disabilities. Glasses and lenses can disrupt the operation of the eye tracker, leading to an inaccurate representation of the eye gaze. They can distort the shape and size of the eye, create additional artifacts in the viewing field with multi-focal glasses, and cause gaze distortion on the cornea when using moving contact lenses.
This section will provide insights into the contents included in this eye tracking market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.
Market drivers and restraints
Key market opportunities prioritized
Latest strategic developments
Market size, estimates, and forecast from 2017 to 2030
Market estimates and forecast for product segments up to 2030
Regional market size and forecast for product segments up to 2030
Market estimates and forecast for application segments up to 2030
Regional market size and forecast for application segments up to 2030
Company financial performance
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