Eye Tracking Market Outlook 2031
The global eye tracking market size was USD 852.16 Million in 2022 and is anticipated to reach USD 11.60 Billion by 2031 register a considerable CAGR 33.4% during the forecast period, 2023-2031. The growth of the market is attributed to increasing demand for contactless biometrics globally.
Eye tracker is a device that evaluates and analyzes the location and position of the eye in relation to the head. It is a measurement of overall activity of an eye. An eye tracker or a remote mounted on the head, which is connected to the source feed and can be used to collect eye-tracking data. It comprises of keeping track on actions including ignoring, staring, and blinking, as well as the visible reaction of pupil to various stimuli.
It has a wide range of applications in security and intelligent systems. It comprises of keeping track on actions including ignoring, staring, and blinking, as well as the visible reaction of pupil to various stimuli. It has a wide range of applications in security and intelligent systems. The COVID-19 has brought negative impact on the market owing to lockdown, which resulted in disruption in demand & supply chain across the globe. The market is expected to resume gradually by the end of year 2021.
Eye Tracking Market Trends, Drivers, Restraints, and Opportunities
- Increasing use of the technology in the aerospace and military sector is one of the key factors driving the market growth.
- Growing automation across various industry verticals is expected to boost the market growth in the coming years.
- Availability of the robotics technology, which acts as a substitute to the technology is likely to hinder the market growth during the forecast period.
- High initial implementation and usage cost presents a major challenge. This is anticipated to hamper the market growth in the projected timeline.
- Rising investments in wearable and smart technology to create a significant growth opportunity for the market in the near future.
Scope of The Eye Tracking Market Report
The report on the global eye tracking market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Eye Tracking Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Applications (Research, Automotive, Healthcare, Retail, Consumer Electronics, and Others), Location (Mobile and Remote), Types (Electrooculography, Eye Attached Tracking, and Optical Tracking), and Components (Software and Hardware)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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SR Research Ltd.; Smart Eye AB; Tobii AB; and Seeing Machines Ltd.
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Eye Tracking Market Segment Insights
Healthcare segment is expected to grow at a rapid pace
Based on applications, the global eye tracking market is divided into research, automotive, healthcare, retail, consumer electronics, and others. The hardware segment is expected to grow at a rapid pace during the forecast period owing to rise in adoption, which acts as an input mechanism in consumer electronics and gaming devices.
However, the consumer electronics segment is anticipated to hold a key share of the market in the coming years due to vision gaze technology, which enhance the design of user interface (UI) and provide smarter modes of UI gameplay and modalities interaction.
Behavior analysis of respondents to drive remote segment
On the basis of locations, the market is bifurcated into mobile and remote. The remote segment is projected to expand at a considerable CAGR during the forecast period attributed to deployment for behavior analysis of respondents from different perspective. On the other hand, the mobile segment is anticipated to account for a major market share during the forecast period due to rise in adoption of vision tracing technology in commercial applications.
Eye attached tracking segment is anticipated to hold significant market share
In terms of types, the global eye tracking market is segregated into electrooculography, eye attached tracking, and optical tracking. The eye attached tracking segment is anticipated to hold significant market share in the coming years owing to contact lenses with mirror or magnetic sensors, which can track the vision even if the head moves.
However, the electrooculography segment is expected to register a considerable CAGR during the forecast period due to technique, which allows users to track vision in darkness or even when the eyes are closed.
Demand for components related to hardware to drive segment growth
On the basis of components, the market is bifurcated into software and hardware. The hardware segment is expected to hold account for major market share during the projected timeline attributed to rise in demand for components used in the eye tracking, such as cameras, sensors, an eye-tracking lenses or glasses, and an internal or external storage device.
On the other hand, the software segment is expected to grow at a significant rate due to the integration within a remote desktop, which receives data from the head-mounted system.
North America is anticipated to constitute a key market share
In terms of regions, the global eye tracking market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the projected period owing to vast adoption of contactless biometric systems and smart sensors across the region.
However, the market of Asia Pacific is anticipated to expand at a rapid pace during the forecast period attributed to rising adoption of vision tracing, significantly in consumer electronics sector in the region.
Segments
The global eye tracking market has been segmented on the basis of
Applications
- Research
- Automotive
- Healthcare
- Retail
- Consumer Electronics
- Others
Location
Types
- Electrooculography
- Eye Attached Tracking
- Optical Tracking
Components
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the global eye tracking market are SR Research Ltd.; Smart Eye AB; Tobii AB; and Seeing Machines Ltd. Some of these players are actively engaged in various market development strategies, such as capacity expansion, new product launches, acquisition, partnership, collaboration, and mergers to increase their market share.
For instance, in May 2017, Tobii Pro, Tobii AB's research division, acquired Sticky, a cloud-based service & solution that allows for large-scale, extensive market research studies using webcam vision recording.
In August 2017, Tobii AB and Microsoft Corp. formed a partnership and jointly released 'Eye Control,' a feature-rich in-box experience, which takes advantage of Windows 10's vision gaze capabilities.
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