PUBLISHER: The Business Research Company | PRODUCT CODE: 1455447
PUBLISHER: The Business Research Company | PRODUCT CODE: 1455447
Eye tracking is a technology and methodology employed to monitor and record the movement and focus of a person's eyes while observing a visual stimulus, such as a screen, image, or physical environment. This technology enables researchers to comprehend where a person is looking, the duration of their gaze on specific areas, and the patterns of their visual attention.
The main types of eye tracking include eye-attached tracking, optical tracking, and electrooculography. Eye-attached tracking involves the use of an eye attachment, such as a specialized contact lens, to measure the movement of the attachment. It encompasses both hardware and software components and can be utilized in remote and mobile locations. Applications for eye tracking technology span various sectors including healthcare, retail, research, automotive, consumer electronics, and others.
The eye tracking market research report is one of a series of new reports from The Business Research Company that provides eye tracking market statistics, including eye tracking industry global market size, regional shares, competitors with an eye tracking market share, detailed eye tracking market segments, market trends, and opportunities, and any further data you may need to thrive in the eye tracking industry. This eye tracking market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The eye tracking market size has grown rapidly in recent years. It will grow from $1.96 billion in 2023 to $2.22 billion in 2024 at a compound annual growth rate (CAGR) of 13.4%. The expansion observed during the historical period can be credited to advancements in research and academic applications, the rise of virtual reality (VR) and augmented reality (AR), the utilization of usability testing in user experience (UX) design, and the integration of these technologies in medical and healthcare applications, as well as the gaming industry.
The eye tracking market size is expected to see exponential growth in the next few years. It will grow to $5.82 billion in 2028 at a compound annual growth rate (CAGR) of 27.3%. The anticipated growth in the forecast period can be ascribed to the broadened applications within the automotive industry, progress in wearable devices, content creation influenced by attention-based approaches, health monitoring and biometrics, and the escalating adoption of consumer electronics. Significant trends projected for the forecast period encompass the surge in remote work and collaboration tools, the prominence of accessibility and assistive technologies, developments in market research and advertising, widespread integration into consumer electronics, gaze-based advertising and market research, and progress in remote eye tracking.
The growth of the eye-tracking market is anticipated to be driven by the increasing demand for assistive communicators. Assistive communicators serve as tools aiding individuals with communication impairments, enhancing their ability to express thoughts, ideas, and needs. Eye-tracking technology plays a crucial role in this domain, enabling users to control and navigate assistive communicators by tracking their eye movements. This facilitates a more natural and efficient means of communication. A report published in May 2022 by The World Health Organization (WHO) and the United Nations Children's Fund (UNICEF) revealed that over 2.5 billion individuals require assistive products, including communication and cognition-supporting applications. This number is projected to rise to 3.5 billion by 2050 due to global population aging and the increased incidence of non-communicable diseases. Consequently, the heightened demand for assistive communicators is expected to propel the growth of the eye-tracking market.
Key players in the eye-tracking market are strategically focusing on developing mobile eye-tracking solutions for marketing and advertising research to enhance effectiveness. A mobile eye-tracking solution is a technology enabling real-time monitoring and analysis of eye movements using portable devices. This technology finds applications in usability testing, human-computer interaction, and assistive technologies. In June 2021, Tobii AB, a Sweden-based technology company specializing in eye-tracking research solutions, introduced Sticky, a new mobile eye-tracking solution for their marketing and advertising research platform. This self-service online platform combines webcam eye tracking and emotion recognition, facilitating advanced quantitative research on desktops, laptops, and mobile devices. The mobile capability allows for the collection of eye-tracking data without additional hardware or software installations. This technology enables businesses to analyze the impact of advertising materials on awareness and consumer responses to various packaging designs and product features.
In December 2021, Smart Eye, a Swedish artificial intelligence company, acquired iMotions for USD 46.6 million. This strategic acquisition positions both companies to provide a comprehensive, multi-modal approach to evaluating complex human behaviors in real-world and demanding contexts. iMotions, a Denmark-based provider of human insights software, including eye-tracking solutions, contributes to this collaboration, offering holistic human insights.
Major companies operating in the eye tracking market report are Tobii AB, Varjo, Smart Eye AB, RealEye, Xsens, Noldus Information Technology, Seeing Machine, Sensomotoric Instruments (SMI), iMotions A/S, NovaSight, Eyegaze Inc., Clearview Eye Clinic, Element Human Ltd., Ergoneers GmbH, Eye Tracking Inc., Gazepoint Research Inc., LC Technologies Inc., 4tiitoo AG, The Eye Tribe, Emotiv Inc., Mirametrix Inc., EyeTech Digital Systems, Polhemus, SR Research, PRS IN VIVO, Phoenix Research Labs, GazeHawk, Pupil Labs
North America was the largest region in the eye tracking market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the eye tracking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the eye-tracking market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The eye-tracking market consists of revenues earned by entities by provide eye-tracking services such as usability testing, retail and merchandising analysis, and neuroscience and psychology studies services. The market value includes the value of related goods sold by the service provider or included within the service offering. The eye-tracking market also includes sales of gaze interaction devices, integrated eye tracking, and remote eye trackers which are used in providing eye-tracking services. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Eye Tracking Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on eye tracking market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for eye tracking ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The eye tracking market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.