Eye Tracking Market

Market Overview:

The global eye tracking market size reached US$ 886.2 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 3,750.1 Million by 2028, exhibiting a growth rate (CAGR) of 27.94% during 2023-2028. The growing need for gaining insights into consumer behavior, increasing utilization in healthcare, and rising investments in research and development activities represent some of the key factors driving the market.

Eye tracking is the process of analyzing and monitoring eye movement, gaze, and fixations. It relies on invisible near-infrared light and high-definition cameras to project light and record multiple eye functions, such as blinking, ignoring, looking, and other reactions of the pupil to stimuli. It enables studying of individual behavior to improve the experience of products, websites, and applications by identifying areas of improvement. It assists in the diagnosis and treatment of medical conditions, such as dyslexia, autism, and schizophrenia. Moreover, it helps in assessing visual impairments and guides the development of interventions. As a result, it finds extensive applications in psychological research, packaging designs, healthcare, retail, intelligent security systems, automotive, and consumer electronics across the globe.

Eye Tracking Market Trends:

The burgeoning e-commerce industry, coupled with extensive utilization of eye trackers for gaining insights into consumer behavior by analyzing the amount of time an individual spends on browsing a product, currently represents one of the key factors positively influencing the market across the globe. In addition, the growing applications of eye tracking technologies, such as optical eye tracking (OET) and electrooculography (EOG), in objectively determining fatigue in soldiers and preventing injuries and accidents is creating a favorable market outlook. Apart from this, the integration of advanced technologies, such as artificial intelligence (AI), machine learning (ML), virtual reality (VR), and augmented reality (AR), with eye trackers are bolstering the growth of the market. In addition to this, eye trackers are employed in prison management systems for identifying individuals and other security purposes, which is fueling the market growth. Furthermore, eye tracking is widely employed in studying different medical conditions, such as neurological and psychiatric disorders, based on the observation of eye movements, which provide insights into cognitive processing. This, in confluence with the increasing adoption of eye tracking to study different medical conditions, is strengthening the market growth. Besides this, extensive investments in research and development (R&D) activities and increasing utilization of eye tracking to facilitate researchers to play back events and analyze the experience of individuals with different objects are stimulating the growth of the market around the world. 

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global eye tracking market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, component, location and application.

Type Insights:

• Eye Attached Tracking
• Optical Tracking
• Electrooculography
   

The report has provided a detailed breakup and analysis of the eye tracking market based on the type. This includes eye attached tracking, optical tracking, and electrooculography. According to the report, optical tracking represented the largest segment.

Breakup by Component:

• Hardware
• Software
   

A detailed breakup and analysis of the eye tracking market based on the component has also been provided in the report. This includes hardware and software. According to the report, hardware accounted for the largest market share.

Location Insights:

• Remote
• Mobile
   

A detailed breakup and analysis of the eye tracking market based on the location has also been provided in the report. This includes remote and mobile. According to the report, remote accounted for the largest market share.

Application Insights:

• Healthcare
• Retail
• Research
• Automotive
• Consumer Electronics
• Others
   

A detailed breakup and analysis of the eye tracking market based on the application has also been provided in the report. This includes healthcare, retail, research, automotive, consumer electronics, and others. According to the report, healthcare accounted for the largest market share.

Regional Insights:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America (the United States and Canada) was the largest market for eye tracking. Some of the factors driving the North America eye tracking market included the technological advancements, extensive research and development activities, advanced security, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global eye tracking market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Ergoneers GmbH, Eyegaze Inc., EyeTech Digital Systems Inc., EyeTracking Inc., Gazepoint Research Inc., iMotions A/S, Mirametrix Inc., Seeing Machines, Smart Eye AB, SR Research Ltd., Tobii AB., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the eye tracking market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global eye tracking market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the eye tracking industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.