South Korea 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 Applicatio

South Korea 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 South Korea Eye Tracking Market size was valued at USD 65.1 million in 2023, and is predicted to reach USD 279.6 million by 2030, at a CAGR of 22.0% from 2024 to 2030.

In South Korea, the eye tracking market is witnessing substantial growth, driven primarily by the burgeoning demand within the gaming and entertainment industries. The country's vibrant gaming culture, characterized by a large community of esports enthusiasts and professional gamers, stands at the forefront of this surge. Eye tracking technology is increasingly integrated into gaming hardware and software, enriching the gaming experience by enabling players to interact with in-game elements and explore virtual environments simply by using their gaze. This innovative approach to interaction is gaining traction among gamers who desire more immersive and captivating gaming experiences. As a result, the dynamic gaming and entertainment sectors in South Korea are pivotal in propelling the growth of the eye tracking market in the region.

Moreover, the expansion of the eye tracking market in South Korea is propelled by the increasing adoption of advanced Driver Monitoring System (DMS) technology within the automotive industry. For example, Smart Eye announced in March 2023 that they had secured 12 new design wins for their DMS technology through a partnership with a Korean Original Equipment Manufacturer (OEM). These design wins highlight the growing significance of DMS solutions in enhancing road safety and monitoring driver attentiveness. The integration of these cutting-edge technologies is playing a crucial role in driving the growth of the eye tracking market in South Korea, particularly within the automotive sector.

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 South Korea 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 South Korea 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 South Korea 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 South Korea 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 South Korea eye tracking market is provided in the report.
• The competitive analysis of the market players along with their market share in the South Korea 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.