Eye Tracking Market projected to reach USD 6,992.8 Million by 2030, growing at a CAGR of 30.5% during the forecast period of 2023-2030 - pronounced by MarketDigits in its recent study
The Global Eye Tracking Market was valued USD 1,087.2 Million in 2023 and projected to reach USD 6,992.8 Million by 2030, growing at a CAGR of 30.5% during the forecast period of 2023-2030
Richmond, Dec. 13, 2023 (GLOBE NEWSWIRE) -- According to a research report *"**Eye Tracking Market”*, by Component (Hardware, Software and Services), Type (Eye Attached Tracking, Optical Tracking and Electrooculography), Location (Remote and Mobile), Application (Assistive Communication, Human Behavior & Market Research, Academic Research, Consumer Behaviour Research and Others), End-use Industry (Retail & Advertisement, Consumer Electronics, Healthcare & Research Labs, Government, Defense, and Aerospace, Automotive & Transportation and Others) and Region - Global Forecast to 2030.**
*Global Eye Tracking Market* *Report Scope:*
*Report* *Details*
*Market size value in 2023* *USD 1,087.2 Million*
*Market size value in 2030* *USD 6,992.8 Million*
*CAGR (2023-2030)* *30.5%*
*Forecast Period* *2023–2030*
*Historic Data* *2019*
*Forecast Units* *Value (USD Million/USD Billion)*
*Segments Covered* *Type**, Component, **Location, Application, **End User and Region*
*Geographies Covered* *North America, Europe, Asia Pacific, and RoW*
* * · *BIOPAC Systems Inc.*
· *Ergoneers*
*Sample of Companies Covered * · *EyeTech Digital Systems*
· *EyeTracking, Inc.*
· *FOVE, Inc.*
*Download the Sample* - *https://www.marketdigits.com/request/sample/3734*
*TOC Covers in Depth & Breath on **Eye Tracking Market*
*170 - Market Data Tables *
*65 - List of Figures*
*225 – Pages*
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits*.*
*Market Overview*
The eye tracking market involves the measurement of either the point of gaze (where one is looking) or the motion of an eye relative to the head. An eye tracker serves as a device utilized to measure eye position and movement, capturing various activities such as where to focus, what to disregard, the timing of blinks, and the pupil's reaction to different stimuli. The global eye tracking market is experiencing growth propelled by the increased adoption of eye tracking technology in the military and aerospace sectors. Additionally, the surge in investments in smart and wearable technology across industry verticals, coupled with a rising demand for assistive communication devices, contributes to the market's expansion. However, the growth in automation and widespread acceptance of robotics technology pose constraints on market growth. Conversely, the rapid integration of eye tracking in novel applications like lie-detection systems, the video gaming industry, cognitive testing, aviation industries, and research and development in augmented reality, virtual reality, and other fields is anticipated to drive the market in the near future.
*Major Vendors in the Global Eye Tracking Market:*
· BIOPAC Systems Inc.
· Ergoneers
· EyeTech Digital Systems
· EyeTracking, Inc.
· FOVE, Inc.
· Gazepoint Research Inc.
· iMotions
· ISCAN
· Lumen Research
· Mirametrix Inc.
· Pupil Labs GmbH
· Seeing Machines
· Smart Eye
· SR Research
· Tobii
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*Rising adoption of eye-tracking technology in advertisement and consumer research*
Eye-tracking technology has found widespread adoption in market research, with growing demand, particularly from the FMCG sector, to leverage this technology for enhancing sales revenue. Eye-tracking devices and associated algorithms play a crucial role in gaining insights into consumer behavior within a retail environment. These tools assist in understanding the duration a consumer spends perusing a product, determining the optimal product layout to encourage purchases, and identifying packaging designs that offer the most effective product information for customer benefit. The application of eye tracking in market research extends beyond physical retail spaces to encompass web marketing activities and the evaluation of advertisements across various mediums, including print, signage, and digital media.
*Market Dynamics*
*Drivers:*
· Increasing usage of smart sensors
· Increased adoption of Artificial Intelligence, Virtual Reality, and Augmented Reality
· Rising demand for contactless biometrics
· Increasing adoption of eye tracking technology in commercial spaces
*Opportunities:*
· Penetration of eye-tracking technology in AR/VR devices
· Integration of consumer electronics devices with eye-tracking technology
· Rise in demand for eye-tracking technology in emerging regions
*Increase in demand for assistive communication devices*
The Eye Tracking Market is experiencing a notable surge in demand driven by the increased adoption of assistive communication devices. This rise is particularly evident in various industries where there is a growing need for innovative solutions to enhance communication for individuals with disabilities. Assistive communication devices leveraging eye-tracking technology offer a transformative approach, allowing users to communicate and interact using eye movements. These devices play a vital role in empowering individuals with motor disabilities, enabling them to express themselves, access information, and engage with the world around them. The increasing awareness of the potential and versatility of eye-tracking-based assistive communication devices is contributing significantly to their heightened demand, fostering inclusivity and improving the quality of life for individuals facing communication challenges.
*The market for Eye Tracking is led by North America.*
In 2022, the North American region emerged as the leader in the eye tracking market, capturing the largest share of revenue. This prominence is attributed to the presence of major market players like EyeTracking Inc, SR Research, and others, contributing significantly to increased innovations, research, and product development within the region. The widespread adoption of eye tracking technology across diverse sectors, including healthcare, automotive, law enforcement, and retail, is fostering a robust demand for eye tracking products in North America. The region's substantial investment in research and development, coupled with advanced infrastructure and technology availability, is a driving force behind the market's revenue growth, particularly in countries like the U.S. and Canada. The U.S. holds the largest revenue share in the regional market, driven by the widespread adoption of smart sensors and contactless biometric systems. Notably, in November 2022, Apple integrated cutting-edge eye-tracking technology into its XR headset, enhancing the virtual reality experience. The XR headset features full-color pass-through technology, enabling users to overlay virtual elements onto their real-world surroundings. The introduction of 'Iris ID' technology further enhances security, allowing users to securely log into accounts and perform biometrically authenticated payments.
Furthermore, the Asia Pacific market secured a significant share of revenue and is anticipated to exhibit the highest revenue Compound Annual Growth Rate (CAGR) throughout the forecast period. The escalating utilization of eye tracking technology in research and academic institutions is fueling a growing demand for eye tracking devices across various industries in this region. Additionally, the expanding healthcare industry is a key contributor to the market's revenue growth, with an increasing number of research institutes and hospitals adopting eye tracking technologies. The presence of both emerging countries like India, China, and Indonesia, as well as developed nations such as South Korea, Japan, and Australia, is driving noteworthy advancements in product development within the market.
*The Remote Segment is Anticipated to Hold the Largest Market Share During the Forecast Period*
The global eye tracking market is segmented based on location, distinguishing between remote and mobile categories. In 2022, the remote segment claimed the largest share of revenue. Modern remote systems, termed as such due to their non-contact nature, eliminate the need for physical interaction with participants. Cameras are strategically positioned to capture eyes from a distance, with the ability to automatically adjust the field of view to accommodate head movements. These systems utilize pupil center and cornea reflection to track both eye position and head orientation. Particularly valuable in research scenarios involving groups where head contact is impractical, such as with infants or individuals with neurological impairments, remote systems often emerge as the sole viable option. Additionally, remote systems serve as the fundamental technology for various assistive communication devices. Typically, these systems comprise a camera and an Infrared Radiation (IR) source situated below the stimulus area, frequently a computer screen, though positioning above the display is also feasible.
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