PUBLISHER: The Business Research Company | PRODUCT CODE: 1455448
PUBLISHER: The Business Research Company | PRODUCT CODE: 1455448
Eye-tracking solutions refer to devices and systems designed to detect and analyze eye movements, positions, and points of focus. These systems monitor and assess various aspects, including eye motion, pupil dilation, gaze points, and blinking, aiming to identify where individuals being studied direct their visual attention, their interactions, and areas they may overlook. Such solutions find applications across diverse domains, including the study of visual frameworks, psychology, psycholinguistics, marketing, human-computer interfaces, and product design.
The primary categories of eye-tracking solutions encompass eye-attached tracking, optical tracking, and electrooculography. Eye-attached tracking involves connecting a device to the eye to record movements and locations, serving applications in supportive and rehabilitative fields such as robotic arms, prostheses, virtual reality, and medical studies, particularly in neurological diagnostics. These solutions can be further classified into hardware and software, with applications extending to various end-user industries such as retail and advertising, automotive and transportation, media and entertainment, aerospace and defense, consumer electronics, and other sectors.
The eye tracking solutions research report is one of a series of new reports from The Business Research Company that provides eye tracking solutions market statistics, including the eye tracking solutions industry's global market size, regional shares, competitors with an eye tracking solutions market share, detailed eye tracking solutions market segments, market trends and opportunities, and any further data you may need to thrive in the eye tracking solutions industry. This eye tracking solutions market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The eye tracking solutions market size has grown exponentially in recent years. It will grow from $0.64 billion in 2023 to $0.84 billion in 2024 at a compound annual growth rate (CAGR) of 30.0%. The expansion observed during the historical period can be attributed to factors such as celebrity endorsements, the growth of e-commerce, rising disposable income, the influence of social media, and a demographic shift marked by an increasing aging population.
The eye tracking solutions market size is expected to see exponential growth in the next few years. It will grow to $2.17 billion in 2028 at a compound annual growth rate (CAGR) of 27.0%. The anticipated growth in the forecast period can be attributed to the increasing awareness of beauty consciousness, the expansion of distribution channels, the integration of digital beauty solutions, innovations in formulations, and the pervasive influence of social media and marketing. Significant trends expected during the forecast period encompass the preference for natural and organic formulations, the adoption of smart beauty devices, the emphasis on sustainable packaging, a focus on lash health and wellness, the introduction of gender-neutral products, and advancements in delivery systems.
The eye-tracking solutions market is poised for growth, driven by the increasing demand for ophthalmology services. Ophthalmology, a medical field dedicated to studying the anatomy, function, and diseases of the eyes, finds significant support from eye-tracking solutions. These solutions contribute to early diagnosis of eye conditions, assist in evaluating ocular motility for surgical procedures, and provide crucial data for assessing visual attention and cognitive skills in patients. According to the International Agency for the Prevention of Blindness (IAPB), a UK-based global alliance, vision loss is projected to increase by 55% by 2050, with the number of individuals affected expected to rise from 1,106 million in 2020 to 1,758 million in 2050. Consequently, the burgeoning demand for ophthalmological services is a key driver propelling the growth of the eye-tracking solutions market.
Key players in the eye-tracking solutions market are strategically focusing on technological advancements, particularly in eye-tracking technology, such as the development of shutter eye tracking camera modules, to enhance the vision of the Metaverse. The BSI (backside illuminated) shutter eye tracking camera module represents a specific advancement tailored for eye-tracking applications. In January 2022, OmniVision Technologies Inc., a US-based semiconductor solutions developer, collaborated with Tobii AB, a Sweden-based company specializing in eye-tracking and attention computing devices, to introduce the BSI global shutter eye tracking camera module. This module, based on the superior BSI global shutter (GS) sensor series, serves as the industry's first and only eye tracking reference design. Incorporating OMNIVISION's OC0TA, the smallest eye tracking camera module, and delivering enhanced performance benefits in near-infrared (NIR) and shutter efficiency, this integrated solution significantly accelerates the development of consumer products for Augmented Reality (AR), Virtual Reality (VR), and Mixed Reality (MR).
In May 2021, Smart Eye AB, a Sweden-based company operating in artificial intelligence-based eye tracking, completed the acquisition of Affectiva for an undisclosed amount. This strategic merger positions the combined entity as a global AI powerhouse, fostering the development and expansion of software for automobile interior detection, human factors research, media analytics, and related areas. Affectiva, a US-based company specializing in eye-tracking devices and human perception AI devices, contributes to the comprehensive capabilities of the merged business.
Major companies operating in the eye tracking solutions market report are Fujitsu Limited, ISCAN Inc., Tobii AB, Seeing Machines, Noldus Information Technology BV, Xenon Ophthamlics Inc, Smart Eye AB, SensoMotoric Instruments, BIOPAC Systems Inc., AdHawk Microsystems, iMotions A/S, Mirametrix Inc., LC Technologies, SR Research Ltd., ERGONEERS GmbH, Gazepoint Research Inc, EyeTracking Inc., Pupil Labs GmbH, FOVE Inc., Neuroset Italia S.R.L., SeeTrue Technology LLC, Optics Trainer LLC, EyeTech Digital Systems Inc., Eyeware Tech SA, CoolTool, The Eye Tribe, Eyegaze Inc., BEQUIPE, Sens-vue, Adsata
North America was the largest region in the eye tracking solutions market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the eye tracking solutions market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the eye-tracking solutions market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The eye-tracking solutions market consists of the revenues earned by entities by offering services such as glasses-based (or mobile) eye tracking, screen-based eye tracking, webcam-based eye tracking, and head-mounted (or embedded) eye tracking. The market value includes the value of related goods sold by the service provider or included within the service offering. The eye-tracking solutions market also includes sales of fixed cameras, IR sources, laptops, monitors, and scene cameras. 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 Solutions 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 solutions 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 solutions ? 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 solutions 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.