Eye Tracking Market Size Worth USD 13,241.1 Million in 2032 | Emergen Research

Increasing usage of smart sensors in various industries, growing adoption of Artificial Intelligence (AI), Virtual Reality (VR) & Augmented Reality (AR ) and rising demand for eye tracking from commercial spaces are some of the major factors driving revenue growth of the eye tracking market

Vancouver, Feb. 01, 2024 (GLOBE NEWSWIRE) -- The global eye tracking market size was USD 802.6 Million in 2022 and is expected to register a revenue CAGR of 32.5% during the forecast period. Increasing usage of smart sensors in various industries, growing adoption of Artificial Intelligence (AI), Virtual Reality (VR) & Augmented Reality (AR), increasing adoption of contactless biometrics, and rising demand for eye tracking from commercial spaces are some of the major factors driving revenue growth of the eye tracking market.

Eye tracking is a type of sensor technology that can recognize existence of a person and track their visual focus in real time. This technology changes eye movements into a stream of data that includes details such as location of pupils, gaze direction of each eye, and point where the gaze is focused. The market revenue growth is driven by factors such as usage of smart sensors, adoption of AR & VR in headsets, advancements in technologies, and others.

The market revenue growth is driven by rising need for contactless biometric authentication. The primary application of biometric systems is for security measures in the defense industry, law enforcement, and other commercial spaces. For instance, in January 2023, a major passenger rail service in Florida is witnessing a surge in ridership. The officials from a Florida Department of Transportation program that encourages alternatives to solo commuting credit some of this success to guidance provided by an interdisciplinary group of researchers at the University of South Florida (USF). This group used a combination of eye-tracking technology and social marketing techniques to enhance effectiveness of marketing campaigns.

However, lack of interoperability and difficulties in integrating eye-tracking systems with other technologies are major factors expected to restrain revenue growth of the eye tracking market during the forecast period. This can create obstacles in utilizing eye-tracking systems with various software and hardware systems, limiting the range of applications and use cases. The need for customized integration solutions and complexity of such integration can also lead to additional costs and delays in implementation, making it a challenging issue for organizations operating in the eye tracking market.

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Segment Insights

Type Insights:

On the basis of type, the global eye tracking market is segmented into eye-attached tracking, optical tracking, and electrooculography. The eye-attached tracking segment accounted for a significantly large revenue share in 2022. Eye-attached capturing devices are akin to contact lenses containing magnetic or mirror-based embedded sensors, which can track eye movement regardless of head movement. Eye-attached vision-capturing systems equipped with sensors are capable of tracking movement in vertical, torsion, and horizontal directions. This versatility makes these systems well-suited for application across various industries, including healthcare, research, retail, and consumer electronics. These systems can capture visual data without any interruptions even if the user slightly moves their head or is in motion.

Component Insights:

On the basis of components, the global eye tracking market is segmented into hardware and software. The software segment accounted for largest revenue share in 2022. Eye tracking devices have integrated software that helps process and analyze the data captured by cameras and sensors. This software allows for obtaining high-quality eye-tracking data in various environments. Major organizations are introducing latest products which are expected to create high demand for this segment. For instance, in August 2020, EyeLink 1000 Plus, introduced by SR Research, is equipped with a high-speed camera that can capture eye movements at a remarkable speed of up to 2000 frames per second.

Location Insights:

On the basis of location, the global eye tracking market is segmented into remote and mobile. The remote segment accounted for largest revenue share in 2022. Modern remote systems are called ‘remote’ as these systems do not require contact with participants at all. The camera is set up with a view of eyes from a distance, and systems can automatically alter the camera field of view to compensate for head movements. These systems use pupil center and cornea reflection to track eye position and head orientation.

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Regional Insights:

Based on regional analysis, the market in North America accounted for largest revenue share in the eye tracking market in 2022. Presence of major market players such as EyeTracking Inc, SR Research, and others have played a significant role in the increasing innovations, research, and product development by leading market players in this region. The widespread adoption of eye tracking technology in various sectors including healthcare, automotive, law enforcement, and retail sectors is creating a high demand for eye tracking products in this region. High level of research and development in this field, along with availability of advanced infrastructure and technology, is also driving revenue growth of the market in this region, especially in countries such as the U.S. and Canada.

Europe market accounted for a significantly large revenue share in 2022 owing to strong research and development sector, with numerous universities and research organizations dedicated to advancing eye tracking technology. This is leading to the development of new and innovative products, as well as increasing awareness and adoption of eye tracking technology in various industries. Presence of major market players in this region, such as Ergoneers GmbH, Tobii AB, and EyeTech Digital Systems, is resulting in increasing innovation and competition in the industry.

Asia Pacific market accounted for a moderately large revenue share in 2022 and is expected to register highest revenue CAGR over the forecast period. Increase in utilization of eye tracking technology within research and academic institutions is resulting in rising demand for eye tracking devices in various industries in this region. Furthermore, expanding healthcare industry in this area has played a significant role in driving market revenue growth, as more research institutes and hospitals are adopting eye tracking technologies. Presence of emerging countries such as India, China, and Indonesia, along with developed countries such as South Korea, Japan, and Australia, is leading to substantial advancements in product development within the market.

Scope of Research

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Major Companies and Competitive Landscape

The global eye tracking market is consolidated, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective products. Some of the major companies included in the global eye tracking market report are:

• Tobii

• SR Research Ltd.

• iMotions A/S

• gazepoint

• EyeTech Digital Systems

• Smart Eye

• EyeTracking

• Mirametrix inc.

• Seeing Machines

• LC Technology Solutions

• Bitbrain Technologies

Strategic Development

• On September 05, 2022, U.S.-based tech company OmniVision launched a BSI global shutter (GS) image sensor, the OG0TB, which it said is the world’s smallest image sensor for eye and face tracking in AR/VR/MR and metaverse consumer devices.

• On October 21, 2019, Tobii Dynavox, a prominent provider of assistive technology for communication, introduced the latest iteration of its flagship communication device, the I-Series. The new I-Series is distinguished as the lightest, fastest, and most robust device available in the market. It incorporates Tobii's state-of-the-art eye-tracking sensor, IS5, offering advanced eye-tracking capabilities.

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For the purpose of this report, Emergen Research has segmented the global eye tracking market on the basis of type, component, location, end-use, and region:

• Type Outlook (Revenue, USD Million; 2019-2032)

• • Eye-Attached Tracking

  • Optical Tracking

  • Electrooculography

• Component Outlook (Revenue, USD Million; 2019-2032)

• • Hardware

  • Software

• Location Outlook (Revenue, USD Million; 2019-2032)

• • Remote

  • Mobile

• End-Use Outlook (Revenue, USD Million; 2019-2032)

• • Healthcare

  • Retail

  • Research

  • Government, Aerospace & Defense

  • Consumer Electronics

  • Others

• Regional Outlook (Revenue, USD Million; 2019–2032)

  • North America

    1. U.S.

    2. Canada

    3. Mexico

  • Europe

    1. Germany

    2. France

    3. U.K.

    4. Italy

    5. Spain

    6. Benelux

    7. Rest of Europe

  • Asia Pacific

    1. China

    2. India

    3. Japan

    4. South Korea

    5. Rest of APAC

  • Latin America

    1. Brazil

    2. Rest of LATAM

  • Middle East & Africa

    1. Saudi Arabia

    2. UAE

    3. South Africa

    4. Turkey

    5. Rest of MEA

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