London, Feb. 27, 2024 (GLOBE NEWSWIRE) -- The report forecasts a groundbreaking growth trajectory for the global eye tracking market over the years of projection, with the forecast revenue reaching US$2 Bn by the end of 2030. During 2023 – 2030, the market size is likely to experience stellar growth at a CAGR of 25.2%.
The staggering growth trajectory of the global eye tracking market is collectively fueled by technological advancements, diverse applications, and a global push towards more immersive and interactive experiences. The market will largely gain from the continuous advancements in eye tracking technology, with hardware and software enhancements significantly boosting the accuracy and reliability of eye tracking devices.
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REPORT SCOPE
| Report Attributes | Details | |
| Base Year | 2022 | |
| Forecast Year | 2023 – 2030 | |
| Market Size in 2022 | US$0.4 Bn | |
| Estimated Market Size in 2030 | US$2.0 Bn | |
| CAGR | 25.2% | |
| Growth Drivers |
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| Segmentation |
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| Regional Coverage |
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The assistive communication industry is witnessing a surge in eye tracking applications for diagnosing neurological disorders, evaluating vision impairments, and enhancing rehabilitation programs. Innovators like Tobii Pro, SensoMotoric Instruments, and EyeTech Digital Systems are spearheading advancements, improving patient care and diagnostic accuracy globally, particularly in North America and Europe.
Companies like Eyegaze, and Seeing Machines are focusing on developing compact, wearable eye tracking devices. These devices find utility across various sectors, including automotive, gaming, and human behaviour. Brands are leveraging this trend by incorporating eye tracking features into products, enhancing user interfaces, and improving overall user experiences, thereby increasing market appeal globally.
“A significant trend shaping the market is the integration of eye tracking technology with Virtual Reality (VR), and Augmented Reality (AR) platforms. Companies such as Tobii, and Pupil Labs are at the forefront, developing solutions that enhance user experiences, making VR and AR technologies more intuitive and responsive. This trend is gaining popularity across diverse regions and will be instrumental in the market built-up over the long term,” states the company’s analyst.
Key Research Insights
- The optical eye tracking segment maintains the leading position.
- Hardware continues to be the prime component segment while human behaviour will remain the major application area.
- North America currently dominates the eye tracking market, fueled by high adoption in manufacturing, assistive communication, and human behaviour applications.
- Asia Pacific is experiencing the fastest growth, propelled by strong R&D activity, and significant investments in assistive communication and gaming industries.
Insights into Segmentation Analysis
Optical Load Segment Leads, Eye-attached Tracking Picks Pace
In a revolutionary stride, the optical eye tracking segment emerges as the undisputed leader, commanding a substantial 70% of the market share in 2022. This cutting-edge technology, utilizing cameras and infrared light to monitor eye movements, finds extensive applications in research, assistive communication, and human behaviour domains. As the market propels towards 2030, it is eye-attached tracking that steals the spotlight, experiencing unprecedented growth and capturing around 25% of the market share.
The allure of eye-attached tracking devices lies in their compact, wearable nature, providing mobility and convenience. Witnessing a surge in demand, these devices play a pivotal role in AR/VR experiences, gaming, and medical diagnostics. As immersive technologies gain traction, the adoption of eye-attached tracking solutions skyrockets, solidifying their prominence in the market.
Human Behaviour Tops the Application List
In the diverse landscape of eye tracking applications, human behaviour stands tall, securing a substantial market share of approximately 60% in 2022. From gaze-controlled scrolling to eye-based authentication, the integration of eye tracking in consumer devices like smartphones, tablets, and laptops cements its dominance in the market.
While human behaviour maintains its stronghold, the assistive communication sector emerges as the fastest-growing category, capturing around 30% of the market share. The surge in eye tracking technology's adoption for medical applications, including the diagnosis of neurological disorders, rehabilitation studies, and the development of assistive communication devices, propels this sector to new heights.
Demand for Hardware Accounts for the Lion’s Share
In the realm of eye tracking components, hardware reigns supreme, claiming a commanding market share of approximately 65%. Comprising devices, sensors, cameras, and related equipment, the demand for high-quality and precise hardware, especially in research and gaming applications, solidifies its dominance.
Meanwhile, software experiences rapid growth, capturing approximately 30% of the market share. Advanced algorithms, analysis tools, and applications drive this surge, as eye tracking systems evolve with enhanced capabilities in data analysis, machine learning, and AI.
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Key Report Highlights
- One of the key trends propelling this surge is the integration of eye tracking technology into human behaviour devices. The eye tracking technology is all set for seamless integration into smartphones, laptops, and gaming consoles, offering users a more intuitive and interactive experience.
- Eye tracking technology finds extensive application in assistive communication, aiding in diagnostics and treatment plans, as well as enhancing user experiences in gaming and virtual reality applications.
Insights into Regional Analysis
North America Takes the Charge
Undoubtedly, North America emerges as the frontrunner, steering the global eye tracking market with a lion's share of approximately 45% in total revenue. The United States, in particular, remains a powerhouse, contributing significantly to the region's dominance. The robust technological infrastructure, substantial investments in research and development, and rapid adoption of eye tracking technology across diverse industries are key contributors.
With a stronghold in human behaviour manufacturing, including smartphones, tablets, and gaming devices, North America continues to lead the eye tracking revolution. The presence of leading tech companies and research institutions in the US, and Canada further propels innovation. Additionally, the well-established assistive communication infrastructure, utilizing eye tracking for diagnostics, assistive technologies, and patient monitoring, fuels substantial demand.
Asia Pacific Sets Stage for Significant Sales Growth
Anticipated to witness substantial sales growth, Asia Pacific is poised to claim approximately 35% of the market share during the forecast period. Fueled by advanced technological landscapes and significant investments in research and development, the region is on the cusp of a breakthrough. In countries like Japan, South Korea, and China, the assistive communication sector embraces eye tracking for diagnostics, assistive technologies, and research, further solidifying the region's standing in the global market.
As Asia Pacific shapes up to be a key player in the eye tracking arena, the convergence of technology, innovation, and market demand positions the region for remarkable growth, marking a paradigm shift in the global eye tracking landscape.
In conclusion, the eye tracking market is not only driven by technological advancements but also by a nuanced understanding of user behaviour and a global appetite for enhanced experiences. With optical eye tracking leading the charge, and North America and Asia Pacific steering the regional dynamics, the future promises an era of unparalleled innovation and integration in eye tracking technology.
Key Companies in Eye Tracking Market
- Gazepoint
- Engineers GmbH
- EyeTracking Inc.
- LC Technologies Inc.
- EyeTech Digital Systems Inc.
- Seeing Machines Ltd.
- iMotions A/S
- SensoMotoric Instruments (SMI) GmbH
- Tobii AB
- Smart Eye AB
- Pupil Labs GmbH
- EyeSee Research
- Polhemus
- Skanray Technologies Pvt. Ltd.
- EyeLink (SR Research Ltd.)
Global Eye Tracking Market Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 - (By Type Coverage, By Component Coverage, By Application Coverage, By Geographic Coverage and By Company): https://www.fairfieldmarketresearch.com/report/eye-tracking-market
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