Eye Tracking Market Size, Share, Growth Analysis, By Offering (Hardware, Software), By Location (Remote, Mobile), By Application, By Tracking Type, By Industry, By Region - Industry Forecast 2024-2031

Global Eye Tracking Market size was valued at USD 656.6 million in 2022 and is poised to grow from USD 872 million in 2023 to USD 8435 million by 2031, growing at a CAGR of 32.8% during the forecast period (2024-2031).

The market for vision-capturing technology is poised for substantial growth, driven by the increasing demand for contactless biometrics, smart sensors, and the integration of AI, VR, and AR across commercial applications. Industries such as retail, healthcare, automotive, and defense are harnessing optical tracking systems, notably video-based eye trackers, for enhanced process control and decision-making. Recent innovations, such as Tobii Pro's Sticky platform, exemplify the use of eye-tracking combined with emotion recognition to streamline market research. Furthermore, the security sector is rapidly adopting iris biometric scanners due to their efficiency and effectiveness, as seen in the initiatives by the Maine Department of Corrections. However, the market remains relatively nascent, with emerging players focusing on strategic partnerships and robust R&D to capture growth opportunities.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Eye Tracking market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Eye Tracking Market Segmental Analysis

Global Eye Tracking Market is segmented by Offering, Location, Application, Industry, Tracking Type and Region. Based on Offering, the market is segmented into Hardware, Software, Research and Consulting Services. Based on Location, the market is segmented into Remote Tracking, Mobile Tracking. Based on Application, the market is segmented into Assistive Communication, Human Behaviour and Market Research, Others. Based on Industry, the market is segmented into Retail and Advertisements, Consumer Electronics, Healthcare and Research Labs, Government, Defence and Aerospace, Automotive and Transportation, Others. Based on Tracking Type, the market is segmented into Eye Attached Tracking, Optical Tracking, Electrooculography. Based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.

Driver of the Global Eye Tracking Market

The global eye-tracking market is significantly driven by the increasing use of eye-tracking technology in advertising and consumer research. This innovative technology has gained substantial traction in market research, particularly within the fast-moving consumer goods (FMCG) sector, as retailers seek to enhance sales. Eye-tracking devices, along with their advanced algorithms, provide valuable insights into consumer behavior by analyzing how long customers engage with products in-store. They help optimize product placement, evaluate packaging impact, and assess the effectiveness of advertisements across various mediums, including print, billboards, and digital platforms. Such applications are pivotal in propelling the growth of the eye-tracking market.

Restraints in the Global Eye Tracking Market

The global eye tracking market is facing significant challenges due to supply chain disruptions. The pandemic-related lockdowns implemented by various countries have severely impacted the manufacturing and distribution processes for eye-trackers, creating hurdles for producers in delivering their products. These supply chain issues not only hamper production capabilities but also lead to delays in product availability, ultimately affecting the demand for eye-tracking technology. As a result, these factors are likely to hinder the growth of the eye tracking market during the analysis period, as manufacturers grapple with both production setbacks and the complexities of logistics in a constrained environment.

Market Trends of the Global Eye Tracking Market

The Global Eye Tracking market is experiencing significant growth driven by the rising popularity of augmented reality (AR) and virtual reality (VR) technologies. These immersive devices enhance user experience by improving image quality, reducing eye strain, and boosting concentration levels. Eye-tracking technology is increasingly being integrated into AR and VR hardware, including headgear and PCs, facilitating more personalized and interactive experiences. Major companies are heavily investing in research and development, recognizing the potential of eye-tracking applications across various sectors such as gaming, healthcare, and marketing. This synergy is paving the way for innovative solutions, making eye tracking a crucial component in the evolving digital landscape.