Eye Tracking Market

Eye Tracking Market Size, Share, Growth Analysis, By Type(Optical Tracking, Eye Attached Tracking), By Component(Hardware, Software), By Application(Retail, Automotive, Healthcare, Military & Aerospace), By Region - Industry Forecast 2024-2031

Report ID: SQMIG45I2118 | Region: Global | Published Date: April, 2024
Pages: 165 | Tables: 90 | Figures: 76

Eye Tracking Market Regional Insights

In 2021, the North American region dominated the eye-tracking market with a revenue share of more than 48.00%, and this dominance is anticipated to persist throughout the forecast period. Increased usage of advanced technologies in the healthcare industry and research programs to achieve a deeper understanding of human behavior are among the key reasons for North America's rapid economic expansion. Due to the widespread deployment of sensors and contactless biometric systems, the US holds the largest revenue share in the regional market. The US, Germany, Japan, and China are home to the industry's major players, and these are the major reason propelling the eye-tracking market in the region.

The Asia-Pacific market is anticipated to see the highest CAGR over the forecast period. The Indian, Chinese, and Japanese markets are predicted to experience substantial development as a result of the expanding use of vision tracing, particularly in consumer electronics. These are the factors driving the demand in the region.

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Eye Tracking Market size was valued at USD 638.8 million in 2022 and is poised to grow from USD 852.16 million in 2023 to USD 11400.48 million by 2031, growing at a CAGR of 33.4% in the forecast period (2024-2031).

The eye-tracking is relatively fragmented, with a high level of competition. Few large players, like Tobii AB, SR Research Ltd, and EyeTracking Inc., now control the market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance their market share and profitability. 'Tobii AB', 'iMotions A/S ', 'SensoMotoric Instruments (SMI) GmbH', 'EyeTech Digital Systems Inc.', 'Seeing Machines Ltd.', 'LC Technologies Inc.', 'Gazepoint', 'Ergoneers GmbH', 'EyeTracking Inc.', 'Pupil Labs GmbH', 'Smart Eye AB', 'EyeLink (SR Research Ltd.)', 'Polhemus', 'EyeSee Research', 'Skanray Technologies Pvt. Ltd.', 'Ergoscan Consulting', 'EyeTech DS', 'Lumen Research Ltd.', 'ErgoLab', 'Mirametrix Inc.'

Eye-tracking technology has been used in market research in a big way. More and more people in retail, especially in the FMCG industry, want to use eye-tracking technology to increase sales. Eye-tracking devices and related algorithms are being used to gain insights into consumer behavior at retail stores. These devices and algorithms help figure out how long a customer spends looking at a product, what the best way is to set up a product in a store to get them to buy, and what kind of packaging gives the best information about the product for the customer's benefit. Eye tracking is also used for digital marketing and judging the effectiveness of ads in print, billboards, and digital media. These are some of the factors driving the global eye-tracking market during the analysis period.

Augmented reality (AR) and virtual reality (VR) devices are gaining popularity for several reasons, including their ability to provide consumers with a more immersive experience, improve image quality, relieve eye strain, and raise concentration. Eye-tracking technology offers an opportunity for development because it can be integrated into many augmented reality (AR) and virtual reality (VR) devices, such as headgears and personal computers. Numerous notable companies have engaged in research in these areas due to the existence of this prospect. These are some of the major trends that propel the eye-tracking market during the analysis period.

In 2021, the North American region dominated the eye-tracking market with a revenue share of more than 48.00%, and this dominance is anticipated to persist throughout the forecast period. Increased usage of advanced technologies in the healthcare industry and research programs to achieve a deeper understanding of human behavior are among the key reasons for North America's rapid economic expansion. Due to the widespread deployment of sensors and contactless biometric systems, the US holds the largest revenue share in the regional market. The US, Germany, Japan, and China are home to the industry's major players, and these are the major reason propelling the eye-tracking market in the region.

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Eye Tracking Market

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