The industry that creates and offers eye tracking devices, software, and technology is known as the eye tracking market. Eye tracking technology enables a variety of applications, including research, healthcare, and gaming, by using sensors and cameras to monitor and track a person's eye movement and posture. Several industries, including psychology, neuroscience, marketing, human-computer interface, and assistive technology, use eye tracking technologies. A variety of eye tracking gadgets, including head-mounted and remote models, are available on the market, along with processing and visualization software. There are various kinds of eye tracking systems available, including contact or intrusive systems that demand the user to wear a device like a head-mounted display or special glasses. Remote or non-invasive systems employ infrared cameras to watch the user's eyes from a distance. The accuracy, speed, and usability of eye tracking technologies are constantly improving thanks to new breakthroughs in hardware, software, and algorithms.
Eye tracking technology is in higher demand across a range of industries, including healthcare, market research, and gaming. Consumer and industry interest in eye tracking technology is rising, and more sophisticated and user-friendly eye tracking hardware is being created. growing need for assistive communication tools like eye-tracking software for computer control and communication among people with impairments.
| ATTRIBUTE | DETAILS |
| Study period | 2020-2029 |
| Base year | 2021 |
| Estimated year | 2022 |
| Forecasted year | 2022-2029 |
| Historical period | 2018-2020 |
| Unit | Value (USD Million) (Thousand Units) |
| Segmentation | By Type, By Component, By Application, By Region |
| By Type |
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| By Component |
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| By Application |
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| By Region |
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Eye tracking technology is being used more frequently in the automotive sector for driver monitoring and safety purposes. The advancement of eye tracking technology for use in augmented and virtual reality applications, which is anticipated to propel market expansion in the ensuing years. Eye tracking technology is being used more and more in academic and scientific research, especially in the disciplines of neuroscience and psychology. increasing spending on eye tracking research and development by big businesses and startups, as well as improvements in AI and machine learning that are enabling more sophisticated eye tracking capabilities.
Eye tracking technology is being utilized more frequently in the healthcare industry for a variety of purposes, including diagnosis, treatment, and rehabilitation. In order to understand consumer behavior, preferences, and emotions, market researchers are using eye tracking technologies. The creation of assistive communication tools for people with disabilities makes use of eye tracking technologies. Overall, the eye tracking industry presents sizable prospects for businesses engaged in market research, gaming, assistive technology, healthcare, virtual and augmented reality, and assistive technology.
The cost of eye tracking technology may prevent it from being widely adopted, especially in developing nations and by smaller firms. Many individuals are unaware of the advantages of eye tracking and may not be aware of all the applications it may be utilized for. This ignorance can reduce demand. Eye tracking may not always be the best option, either in terms of effectiveness or cost. For instance, in some situations, voice or facial recognition may be a superior choice for spotting user activity. This are some main restrain of the market.
The COVID-19 pandemic has had a conflicting effect on the eye tracking market. The pandemic has hampered the world's supply chain, which has caused delays in the production and delivery of eye monitoring equipment. As a result of the pandemic, however, there has also been a rise in the demand for remote healthcare and virtual communication, which has also raised the need for eye tracking technologies. Throughout the pandemic, the use of eye tracking technologies in remote healthcare has grown in significance. Overall, the COVID-19 pandemic has given chances for expansion in remote healthcare and virtual communication while also posing some hurdles for the eye tracking sector.
The eye tracking market is expected to grow at 27.4% CAGR from 2020 to 2029. It is expected to reach above USD 4951 million by 2029 from USD 560 million in 2020.
North America held more than 48% of the eye tracking market revenue share in 2021 and will witness expansion in the forecast period.
Eye tracking technology is in higher demand across a range of industries, including healthcare, market research, and gaming. Consumer and industry interest in eye tracking technology is rising, and more sophisticated and user-friendly eye tracking hardware is being created. growing need for assistive communication tools like eye-tracking software for computer control and communication among people with impairments.
The Eye Tracking market key Tobii Ab, Seeing Machines, EyeTech Digital Systems, SR Research Ltd, Gaze point, Pupil Labs, iMotions, SMI, Smart Eye AB, Ergoneers GmbH.
Based on type, the top rank was held by the optical tracking category. Because optical tracking systems can record both active and passive motion of the entire body, they are increasingly in demand in VR and AR. This allows VR to learn more about the participant's position. The sub-segment for eye-attached tracking is anticipated to experience the fastest CAGR growth. Similar to contact lenses with embedded magnetic or mirror sensors, ye-attached capturing devices can continue tracking the vision even while the head is moving.
North America accounts for 48% of the market for eye tracking worldwide. This can be ascribed to the fact that important players are present in the area and that eye tracking technology is widely used in a variety of fields, including healthcare, market research, and the automobile industry. The eye tracking market in North America is anticipated to continue to expand as a result of rising investments in research & development efforts linked to the technology and rising demand for assistive communication devices.
The eye tracking market is segmented based on type, component, application and region.
Based on type, the top rank was held by the optical tracking category. Since optical tracking systems can record both active and passive motion of the entire body, they are increasingly in demand in VR and AR. This allows VR to learn more about the participant's position. The sub-segment for eye-attached tracking is anticipated to experience the fastest CAGR growth. Similar to contact lenses with embedded magnetic or mirror sensors, ye-attached capturing devices can continue tracking the vision even while the head is moving.
Based on Component, the component segment dominates by the hardware industry. Comparable hardware exists for optical or video-based trackers and an eye-attached tracing device. A desktop, an internal or external storage device, a camera to record eye movement and gaze points, and optical sensors to recognize and keep track of visual movement make up the Eye Tracking Device (ETD). The industry segment with the fastest CAGR would be software. The hardware and software components of the vision-capturing system vary depending on the tracker's features.
Based on Application, more than 25.00% of the market's revenue was controlled by the healthcare industry. Until recently, the only applications for gaze capture in healthcare were computer interfaces for patients with physical impairments and other communication challenges. The use of technology as an input method for consumer goods and gaming devices is growing quickly, nevertheless. The retail FMCG industry is seeing a rise in demand for eye-tracking technology. Retail stores use eye-tracking technology and its algorithms to analyses customer behavior.
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The Eye Tracking market key Tobii Ab, Seeing Machines, EyeTech Digital Systems, SR Research Ltd, Gaze point, Pupil Labs, iMotions, SMI, Smart Eye AB, Ergoneers GmbH.
Recent News 17-05-2021: - EyeTech Digital Systems announced release of its software ecosystem for the EyeOn family of eye-tracking tablets, an open platform engineered from the ground up to provide the first truly seamless eye-tracking technology experience. 16-04-2021: - SyncThink, a next gen neurotechnology company announced that it will provide the award-winning EYE-SYNC technology on the VR headset Pico Neo 2 Eye, with built-in Tobii Eye Tracking.The Eye Tracking market by region includes North America, Asia-Pacific (APAC), Europe, South America, and Middle East & Africa (MEA).
North America accounts for 48% of the market for eye tracking worldwide. This can be ascribed to the fact that important players are present in the area and that eye tracking technology is widely used in a variety of fields, including healthcare, market research, and the automobile industry. The eye tracking market in North America is anticipated to continue to expand as a result of rising investments in research & development efforts linked to the technology and rising demand for assistive communication devices.
The automotive and aerospace sectors offer tremendous growth potential in Europe, the second-largest market for eye tracking. Due to the increasing use of eye tracking technology in healthcare, automotive, and gaming applications, as well as the rising demand for virtual and augmented reality gadgets in the region, the Asia Pacific region is anticipated to see the greatest growth rate during the projected period.
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