Eye Tracking Market Growth Trajectory Through 2024-2033

The Eye Tracking Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Eye Tracking Global Market Report 2024, The eye tracking market size has grown rapidly in recent years. It will grow from $1.96 billion in 2023 to $2.22 billion in 2024 at a compound annual growth rate (CAGR) of 13.4%. The growth in the historic period can be attributed to research and academic applications, emergence of virtual reality (VR) and augmented reality (AR), usability testing in user experience (ux) design, medical and healthcare applications, gaming industry integration.

The eye tracking market size is expected to see exponential growth in the next few years. It will grow to $5.82 billion in 2028 at a compound annual growth rate (CAGR) of 27.3%. The growth in the forecast period can be attributed to expanded applications in automotive industry, advancements in wearable devices, attention-based content creation, health monitoring and biometrics, increasing consumer electronics adoption. Major trends in the forecast period include rise of remote work and collaboration tools, accessibility and assistive technologies, market research and advertising, widespread adoption in consumer electronics, gaze-based advertising and market research, advancements in remote eye tracking.

The increasing demand for assistive communicators is expected to drive the eye-tracking market. Assistive communicators are tools that aid individuals with communication impairments by facilitating or augmenting their ability to express thoughts, ideas and needs. Eye-tracking technology allows users to control and navigate assistive communicators by tracking their eye movements, enabling a more natural and efficient means of communication. For instance, in May 2022, a report published by The World Health Organization (WHO) and the United Nations Children’s Fund (UNICEF), two prominent United Nations agencies that play vital roles in international public health and child well-being, disclosed that over 2.5 billion individuals require one or multiple assistive products, such as wheelchairs, hearing aids, or communication and cognition-supporting applications. The report highlights that this figure is projected to increase to 3.5 billion by 2050, primarily because of global population aging and the growing incidence of non-communicable diseases. Therefore, increased demand for assistive communicators is expected to propel the growth of the eye-tracking market.

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The eye tracking market covered in this report is segmented –

1) By Type: Eye Attached Tracking, Optical Tracking, Electrooculography
2) By Component: Hardware, Software
3) By Location: Remote, Mobile
4) By Application : Healthcare, Retail, Research, Automotive, Consumer Electronics, Other Application

Major companies operating in the eye-tracking market are developing mobile eye-tracking solution for marketing and advertising research to improve effectiveness. A mobile eye-tracking solution is a technology that enables real-time monitoring and analysis of eye movements using portable devices, allowing for diverse applications in fields such as usability testing, human-computer interaction and assistive technologies. For instance, in June 2021, Tobii AB, a Sweden-based technology company that specialize in eye tracking research solutions, launched Sticky, a new mobile eye tracking solution for their marketing and advertising research platform. This self-service online platform combines webcam eye tracking and emotion recognition, allowing for advanced quantitative research on desktops, laptops, and mobile devices. The mobile capability provides the ability to collect eye tracking data, without requiring additional hardware or software installations. It will allow businesses to analyze the impact of advertising material on awareness and the way people respond to it, as well as measure consumer reactions to various packaging designs and product features.

The eye tracking market report table of contents includes:

1. Executive Summary
2.Eye Tracking Market Characteristics
3.Eye Tracking Market Trends And Strategies
4.Eye Tracking Market analysis
5.Eye Tracking Market Size And Growth
6.Eye Tracking Segmentation
7.Eye Tracking Regional And Country Analysis
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27.Eye Tracking Competitive Landscape And Company Profiles
28.Eye Tracking Key Mergers And Acquisitions
29.Eye Tracking Future Outlook and Potential Analysis

TOP MAJOR PLAYERS:

• Tobii AB
• Varjo
• Smart Eye AB
• RealEye
• Xsens Technologies B.V.

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