Eye Tracking Market by Type (Head Mounted Eye Tracker and Remote Eye Tracker), by Component (Hardware and Software), by Application (Assistive Communication, Academic Research, Consumer Behavior Research, Usability Testing, and Others), and by End User (R

Eye Tracking Market by Type (Head Mounted Eye Tracker and Remote Eye Tracker), by Component (Hardware and Software), by Application (Assistive Communication, Academic Research, Consumer Behavior Research, Usability Testing, and Others), and by End User (Retail, Automotive, Healthcare, Government, and Others) – Global Opportunity Analysis and Industry Forecast, 2024–2030

Eye Tracking Market
Domain – Semiconductor and Electronics
Sub Domain – Electronic Systems and Components

The eye tracking market size was valued at USD 913.6 million in 2023, and is predicted to reach USD 4909.7 million by 2030, with a CAGR of 26.0% during the forecast period, 2024–2030.

The eye tracking industry focuses on measuring eye movements, gaze direction, and fixation points, providing crucial insights into human behavior and visual perception. It covers a range of applications from psychology to market research and human-computer interaction. This dynamic sector is marked by technological advancements and increasing demand in areas such as augmented reality, virtual reality, and safety measures in automotive and healthcare sectors. The industry plays a pivotal role in shaping the future of human-computer interaction.

The increasing accidents and system malfunctions in the aviation industry have prompted the adoption of eye-tracking technology to mitigate uncertainties. This tech monitors real-time eye movements, offering insights into cognitive states. Metrics such as fixation and pupillary responses play a crucial role in predicting incidents. Tobii Pro's solution integrates webcam monitoring with emotion recognition. The U.S. Army collaborated with EyeTracking, LLC for real-time monitoring, bolstering safety for aviation personnel.

However, the initial investment in specialized hardware and software for eye tracking technology can be prohibitively expensive, particularly for smaller businesses or research projects with limited budgets. This cost factor hinders the widespread adoption of eye tracking solutions in various sectors.

On the contrary, integration of advanced technologies such as augmented reality and virtual reality to improve user interaction and immersion is expected to create ample growth opportunities for the market in the coming years. Mojo Vision recently launched a new advanced prototype of its AR smart contact lens, Mojo Lens. The prototype features new hardware elements and cutting-edge technologies, including an advanced display, communications, eye tracking technology, and an embedded power system. It enables users to access timely information quickly and discreetly without having to look down at a screen.

Segment Overview
The global eye tracking industry is segmented on the basis of type, component, application, end user, and region.
 By type, the market is bifurcated into head mounted eye tracker and remote eye tracker.
 By component, the market is classified into hardware and software.
 By application, the market is segmented into assistive communication, academic research, consumer behavior research, usability testing, and others.
 By end user, the market is categorized into retail, automotive, healthcare, government, and others.
 By region, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of world (RoW).

Regional Analysis
Asia-Pacific holds the dominant market share
In the Asia-Pacific region, eye tracking market drivers include booming gaming industry especially in the countries including China, Japan, South Korea to fulfill the demand for interactive and immersive gaming experiences. As per the latest data published on World Economic Forum, video gaming is a very lucrative and popular industry with China leads this market, boasting the highest turnover with an estimated USD 49.3 billion in 2021.

Moreover, the rapid adoption of consumer electronics, advanced Driver Monitoring System (DMS) technology, and elderly care initiatives in Asia are driving factors for the demand in the eye tracking industry. The increasing prevalence of these technologies and initiatives emphasizes the need for accurate eye tracking solutions, especially in sectors like automotive safety and healthcare.

Key Market Players
The key players in the global eye tracking market include:
• Tobii AB
• Smart Eye AB
• Lattice Semiconductor Corp
• Ogilvy
• Seeing Machines Limited
• AVSimulation
• Lumen
• Eyetech Digital Systems, Inc.
• EyeTracking
• Gazepoint
• Eyegaze
• Eyeware Tech
• SR Research Ltd.
• Pupil Labs
• Irisbond Crowdbonding, S.L.

Recent Developments
October 2023
Reyedar and Pupil Labs have partnered to use modern eye tracking and AI technologies to develop early detection methods for glaucoma, a condition that causes optic nerve damage and vision loss. The program provides financial support to improve analytics and offers career opportunities in data science, engineering, and technology.

September 2023
Gazepoint introduces SD Eye Tracker Bundles, providing a cost-effective, all-in-one solution for precise eye tracking. These bundles encompass the eye tracker, mounting hardware, and robust analysis software, ensuring affordability and accessibility for a broader audience of researchers and professionals.

May 2023
Collins Aerospace and Seeing Machines partner to develop and deliver innovative AI-powered eye-tracking solutions to the global aviation industry, enhancing safety and better supporting pilots with mission-critical fatigue detection solutions.

November 2022
Smart Eye released Smart Eye Pro 10.1 and a Mobile Stand unit with an improved remote eye tracking system that enhances its performance in all conditions, including for subjects with eye disorders where only one eye is compatible with eye tracking.

July 2022
Tobii partnered with Sony Interactive Entertainment (SIE) to provide eye tracking technology for the upcoming PlayStation VR2 headset, expanding its business landmark. It also enables millions of users worldwide to experience the power of eye tracking.

KEY BENEFITS
• The report provides quantitative analysis and estimations of the eye tracking market from 2024 to 2030. This analysis assists in identifying the prevailing market opportunities to capitalize on.
• The study comprises a detailed analysis of the eye tracking market trends, including the current and future trends to depict the prevalent investment pockets in the market.
• The information related to key drivers, restraints, and opportunities and their impact on the eye tracking market is provided in the report.
• The competitive analysis of the market players along with their market share in the eye tracking market is provided in the report.
• The SWOT analysis and Porter’s Five Forces model are elaborated in the study.
• The value chain analysis in the market study provides a clear picture of the roles of stakeholders.