A India Eye Tracking Market by Type (Head Mounted Eye Tracker and Remote Eye Tracker), by Component (Hardware and Software), by Application (Assistive Communication

India 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 Other Applications), and by End-User Industry (Retail, Automotive, Healthcare, Government and Others)- Opportunity Analysis and Industry Forecast, 2024– 2030

The India Eye Tracking Market size was valued at USD 40.5 million in 2023, and is predicted to reach USD 200.2 million by 2030, at a CAGR of 24.4% from 2024 to 2030.

The India's eye tracking market is experiencing rapid growth, fueled by the increasing adoption of consumer electronics and bolstered by proactive government initiatives. Programs such as 'Make in India' and 'Digital India' are pivotal in creating an enabling environment for digital technology advancement, aiming to establish India as a global hub for Electronics System Design and Manufacturing (ESDM). These initiatives promote domestic manufacturing, reduce dependency on imports, and enhance digital infrastructure, literacy, and governance. With a robust target of achieving USD 300 billion in sustainable electronics manufacturing and exports by 2026, the government's steadfast commitment is driving substantial investments in the sector. Both local startups and international firms are seizing opportunities to develop and integrate eye tracking technologies, leveraging India's burgeoning market demand and technological prowess. This convergence of technological innovation and market dynamics is positioning India as a significant contributor to the global eye tracking industry, with ample scope for further applications and research advancements.

Moreover, India's eye tracking technology market is experiencing substantial growth due to the significant presence of both local and global companies investing in the development of eye tracking devices. This dynamic investment landscape highlights India's potential as a promising market for eye tracking technology. The influx of capital and resources from diverse firms is driving innovation and expanding the range of eye tracking applications available. Companies are leveraging advanced technologies such as artificial intelligence and machine learning to enhance the accuracy and functionality of eye tracking solutions. This collaborative investment effort is fostering the development of cutting-edge products tailored for various industries, including automotive, healthcare, and consumer electronics. As a result, India is emerging as a key player in the global eye tracking market, with increased research opportunities and the potential for significant advancements in the field.

However, the proliferation of alternative technologies, such as gesture recognition, unimodal methods, and multimodal activity recognition, significantly restrains the growth of the eye tracking market. Gesture recognition, for instance, uses mathematical algorithms to interpret human gestures, allowing device control through simple movements. This technology excels at recognizing emotions expressed through facial expressions, hand gestures, and body language. In industries like consumer electronics and gaming, where predicting user behavior is crucial, these alternative technologies provide valuable insights beyond the capabilities of traditional eye tracking. Consequently, the availability and adoption of such alternatives hinder the market's growth potential by offering competitive solutions that address diverse user needs and preferences.

On the contrary, swift integration of eye-tracking technology across various sectors, including augmented reality (AR), virtual reality (VR), lie-detection systems, and cognitive testing, is poised to unlock significant opportunities within the eye tracking market. This technology plays a crucial role in enhancing image clarity and reducing eye strain in AR and VR applications, thereby elevating user engagement and comfort levels. This technology benefits from natural stimuli and controlled data collection, making it a dynamic field driven by startups and investments from tech giants such as Apple, Google, Facebook, and Samsung. For instance, in March 2022, Mojo Vision announced a new advanced prototype of its AR smart contact lens Mojo Lens. The prototype includes various new hardware features and advanced technologies such as advanced display, communications, eye tracking technology, and a power system embedded into the lens. It allows users to access timely information quickly and discreetly without forcing them to look down at a screen.

Segment Overview

The India eye tracking market is segmented on the basis of offering, deployment mode, application, and end-user industry.
By Type, the market is classified into head mounted eye tracker and remote eye tracker.
By Component, the market is segmented into hardware and software
By Application, the market is categorized into assistive communication, academic research, consumer behavior research, usability testing and other applications
By End-User Industry, the market is divided into retail, automotive, healthcare, government and others

Key Market Players

The key players operating in the India eye-tracking industry include companies such as:
• 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.

KEY BENEFITS
• The India eye tracking market report provides a quantitative analysis of the current market and estimations from 2024 to 2030. This analysis assists in identifying the prevailing market opportunities.
• The study comprises a detailed analysis of the India eye tracking market trends, including current and future trends for depicting prevalent investment pockets in the market.
• The information related to key drivers, restraints, and opportunities and their impact on the India eye tracking market is provided in the report.
• The competitive analysis of the market players along with their market share in the India 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 role of stakeholders.