Fifteen years ago, Swedish scientists accidentally came across a method for tracking eye movement, when they noticed a sensor they set up in the lab tracking their eyes.
Today, this technology is gathering major momentum as the IT and biotech industries look to snatch it up for use in their latest devices.
From helping the disabled operate a computer, to making cars safer by watching the driver’s eye direction, this technology has limitless capabilities. There’s even a major push to integrate it into the video game industry. That could increase the market for eye-tracking by $5 billion.
So how does this all work? Well, the system uses invisible infrared light to light up your eyes, then camera sensors measure the reflection off the retina and cornea to gauge where you’re looking. Pretty cool!
The Swedish scientists who developed this technology finally provided an initial public offering for their company back in April on the Stockholm Stock Exchange (STO). The company is called Tobii (STO: TOBII) and its stock price has already rocketed up 207% since the offering.
In October the company announced a new eye-tracking platform. That sent the stock up 40% in just two weeks.
Other technology companies are starting to jump on the bandwagon as well. The new Samsung Galaxy smartphone can track face movement, which is only a few steps away from tracking eye movement.
Right now the majority of eye-tracking sensors fit in larger hardware devices like laptop computers and vehicles. The industry is working feverishly to overcome size and power requirements for smaller mobile devices.
I’m tracking this technology via my trading system and will watch closely as it begins to saturate the market.
I’ve got my own selfish preferences for where I’d like to see this technology implemented first. With a house with four kids and a big black lab, it sure would be nice to never have to worry about losing the TV remote again.
Editor, Biotech Intel Trader