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Eye Tracking Market Report Scope & Overview:

The Eye Tracking Market size was valued at USD 806.40 Million in 2023 and is expected to grow to USD 8.18 Billion  By 2031 and grow at a CAGR of 33.6% over the forecast period of 2024-2031.

The market for eye-tracking encompasses the tracking of either the point of gaze or the movement of an eye relative to the head. An eye tracker is a device that measures the location and movement of the eyes. Its many functions include determining where to focus, what to ignore, when to blink, and how the pupils respond to various stimuli. Eye-tracking technology has become increasingly popular in recent years, with applications ranging from market research to medical diagnosis. By analyzing eye movements, researchers can gain valuable insights into consumer behavior, cognitive processes, and neurological disorders.

 Eye Tracking Market Revenue Analysis

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In the field of marketing, eye tracking is used to study consumer behavior and preferences. By tracking where people look when viewing advertisements or product displays, marketers can optimize their designs to better capture attention and increase sales. In the medical field, eye tracking is used to diagnose and monitor a variety of conditions, including traumatic brain injury, stroke, and Parkinson's disease. By analyzing eye movements, doctors can detect subtle changes in cognitive function and track the progression of these conditions over time. the eye-tracking market is a rapidly growing industry with a wide range of applications.

Market Dynamics

Drivers

  • Increasingly Uses Eye-tracking technology in advertising and consumer research.

Eye-tracking technology is increasingly being employed to boost sales income in retail, notably in the FMCG business. In an outlet store, eye-tracking sensors and related algorithms are used to gather information about consumer behavior. These devices and algorithms assist in determining how much time a consumer spends exploring a product, what the ideal product layout is to encourage a purchase at a shop, and what packaging gives the best product information for the customer's benefit. For web marketing activities and advertising analysis in print, signage, and digital media and also In market research Eye tracking is used.

Restrains

  • Consistently expanding gesture recognition.

Gesture recognition technologies are used to operate devices without having to touch them. The increasing application of gesture control features in automobiles, increasing digitalization across industries, favorable government programs, and the presence of touchless sanitary solutions are the major drivers for the gesture recognition market. Gesture control may also be used to operate computing equipment and communicate with other people or the environment. As a result, gesture recognition technology is an essential competitor for assistive communication applications. However, only a limited number of patients or people can use gesture recognition equipment. This restricting factor's influence on the eye-tracking market is presently moderate/medium and is expected to remain so during the forecast period.

Opportunities

  • Eye-tracking technology may be implemented into AR/VR devices such as headgear and PCs, providing prospects for expansion.

Challenges

  • Lack of skill of end users.

Impact of the Russia-Ukraine War

The ongoing Russia-Ukraine war can potentially have several impacts on the Eye Tracking Market. the conflict escalates and leads to disruptions in trade and transportation routes between Russia and Ukraine, it could impact the supply chain of eye tracking technology. Eye-tracking devices and components may be produced or assembled in either country, and any disruption in the production or transportation process could result in delays or shortages of eye-tracking products. The Russia-Ukraine war escalates, and it could lead to economic instability in the region. This instability can affect consumer spending and business investments, potentially reducing the demand for eye-tracking technology. The geopolitical tension and uncertainty caused by the war can lead to hesitations and delays in decision-making processes for businesses. Companies may be reluctant to invest in new technologies, such as eye tracking until there is more clarity regarding the situation. This hesitation could slow down the growth of the eye-tracking market. The geopolitical situation can lead to changes in global trade dynamics and partnerships. Eye-tracking technology companies may need to adapt their supply chains and establish new business relationships to mitigate risks and ensure a stable supply of products. This could result in shifts in market dynamics, such as the emergence of new players or changes in market share for existing companies.

Impact of the Ongoing Recession

The impact of a recession on the eye-tracking market can be significant, as economic downturns typically lead to changes in consumer behavior and business spending. consumers tend to tighten their budgets and cut back on discretionary expenses During a recession. Eye-tracking technology, while innovative and useful, may be considered a non-essential item for many individuals. This could result in a decrease in demand for eye-tracking devices and software among consumers, leading to a decline in sales. Companies involved in research and development (R&D) activities may face budget cuts during a recession. Eye-tracking technology is often utilized in various research fields, such as psychology, neuroscience, marketing, and human-computer interaction. Reduced R&D spending could limit the resources available for developing and advancing eye tracking technology, slowing down innovation in the field. During a recession, companies often cut back on advertising and marketing expenditures to save costs. In times of economic uncertainty, businesses prioritize cost-effectiveness and return on investment. Eye tracking technology, while valuable, may be perceived as an expensive investment by some organizations. This could lead to a slower adoption rate or a shift toward more affordable alternatives, potentially impacting the growth of the eye-tracking market.

Key Market Segmentation

By Type

  • Eye Attached Tracking

  • Optical Tracking

  • Electrooculography

By Location

  • Remote

  • Mobile

By Component

  • Hardware

  • Software

By Application

  • Healthcare

  • Retail

  • Research

  • Automotive

  • Consumer Electronics

  • Others

Regional Analysis

North America led the market with a large revenue share and is expected to continue to do so during the projected period. One of the key causes for North America's rapid development is the growing use of modern technology in the healthcare industry, as well as research endeavors to better understand human behavior. Because of the widespread deployment of smart sensors and contactless biometric systems, the United States has the biggest revenue share in the regional market. The largest industrial participants are headquartered in the United States, Germany, Japan, and China, and the majority of advances take place in these countries. Over the projection period, the Asia Pacific regional market is expected to grow at the quickest rate. Increased vision tracing use, particularly in consumer electronics, is expected to drive considerable development in the Indian, Chinese, and Japanese industries.

Eye-Tracking-Market-By-Region

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REGIONAL COVERAGE:

North America

  • USA

  • Canada

  • Mexico

Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • The Netherlands

  • Rest of Europe

Asia-Pacific

  • Japan

  • South Korea

  • China

  • India

  • Australia

  • Rest of Asia-Pacific

The Middle East & Africa

  • Israel

  • UAE

  • South Africa

  • Rest of the Middle East & Africa

Latin America

  • Brazil

  • Argentina

  • Rest of Latin America

Key Players:

The major players are Seeing Machines Ltd., Gazepoint Research Inc., Tobii AB, EyeTech Digital Systems, Inc., LC Technologies, Inc., EyeTracking, Inc., Mirametrix Inc., iMotions A/S, Smart Eye AB, SR Research Ltd., Ergoneers, and others in the final report.

LC Technologies Inc-Company Financial Analysis

Company Landscape Analysis

Recent development

Tobii Pro, a branch of Tobii (Sweden), has announced the June 2020 release of Tobii Pro Glasses 3. This is the third generation of the company's wearable eye tracker, which is meant to evaluate attention in any real-world setting.

Tobii Dynavox, a subsidiary of Tobii (Sweden), has announced the May 2020 release of the I-Series, a next-generation communication device with integrated eye tracking. The new I-Series (ALS) is aimed towards those with disabilities such as cerebral palsy and amyotrophic lateral sclerosis. It provides children a voice, allowing them to stand out for themselves and grow more self-sufficient.

Eye Tracking Market Report Scope:
Report Attributes Details
Market Size in 2023  US$ 806.40 Mn
Market Size by 2031  US$ 8.18 Bn
CAGR   CAGR of 33.6% From 2024 to 2031
Base Year  2023
Forecast Period  2024-2031
Historical Data  2020-2022
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Type (Eye Attached Tracking, Optical Tracking, Electrooculography)
• By Location (Remote, Mobile)
• By Component (Hardware, Software)
• By Application (Healthcare, Retail, Research, Automotive, Consumer Electronics, Others)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Seeing Machines Ltd., Gazepoint Research Inc., Tobii AB, EyeTech Digital Systems, Inc., LC Technologies, Inc., EyeTracking, Inc., Mirametrix Inc., iMotions A/S, Smart Eye AB, SR Research Ltd., Ergoneers
Key Drivers • Increasingly Uses Eye-tracking technology in advertising and consumer research.
Market Opportunities • Eye-tracking technology may be implemented into AR/VR devices such as headgear and PCs, providing prospects for expansion.

 

Frequently Asked Questions

Ans: The Eye Tracking Market is growing at a CAGR of 33.6% over the forecast period 2024-2031.

Ans: The Eye Tracking Market size was valued at USD 0.8 Bn in 2023.

Ans. The major players are Seeing Machines Ltd., Gazepoint Research Inc., Tobii AB, EyeTech Digital Systems, Inc., LC Technologies, Inc., EyeTracking, Inc., Mirametrix Inc., iMotions A/S, Smart Eye AB, SR Research Ltd., Ergoneers, and others in the final report.

Ans: Increasingly Uses Eye-tracking technology in advertising and consumer research this drives the market.

Ans: The North America region is dominating the Eye Tracking Market.

Table of Contents

1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges

4. Impact Analysis
4.1 Impact of Russia-Ukraine War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World

5. Value Chain Analysis

6. Porter’s 5 forces model

7. PEST Analysis

8. Eye Tracking Market Segmentation, By Type
8.1 Eye Attached Tracking
8.2 Optical Tracking
8.3 Electrooculography

9. Eye Tracking Market Segmentation, By Location
9.1 Remote
9.2 Mobile

10. Eye Tracking Market Segmentation, By Component
10.1 Hardware
10.2 Software

11. Eye Tracking Market Segmentation, By Application
11.1 Healthcare
11.2 Retail
11.3 Research
11.4 Automotive
11.5 Consumer Electronics
11.6 Others

12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 North America Eye Tracking Market By Country
12.2.2 North America Eye Tracking Market By Type
12.2.3 North America Eye Tracking Market By Location
12.2.4 North America Eye Tracking Market By Component
12.2.5 North America Eye Tracking Market By Application
12.2.6 USA
12.2.6.1 USA Eye Tracking Market By Type
12.2.6.2 USA Eye Tracking Market By Location
12.2.6.3 USA Eye Tracking Market By Component
12.2.6.4 USA Eye Tracking Market By Application
12.2.7 Canada
12.2.7.1 Canada Eye Tracking Market By Type
12.2.7.2 Canada Eye Tracking Market By Location
12.2.7.3 Canada Eye Tracking Market By Component
12.2.7.4 Canada Eye Tracking Market By Application
12.2.8 Mexico
12.2.8.1 Mexico Eye Tracking Market By Type
12.2.8.2 Mexico Eye Tracking Market By Location
12.2.8.3 Mexico Eye Tracking Market By Component
12.2.8.4 Mexico Eye Tracking Market By Application
12.3 Europe
12.3.1 Europe Eye Tracking Market By Country
12.3.2 Europe Eye Tracking Market By Type
12.3.3 Europe Eye Tracking Market By Location
12.3.4 Europe Eye Tracking Market By Component
12.3.5 Europe Eye Tracking Market By Application
12.3.6 Germany
12.3.6.1 Germany Eye Tracking Market By Type
12.3.6.2 Germany Eye Tracking Market By Location
12.3.6.3 Germany Eye Tracking Market By Component
12.3.6.4 Germany Eye Tracking Market By Application
12.3.7 UK
12.3.7.1 UK Eye Tracking Market By Type
12.3.7.2 UK Eye Tracking Market By Location
12.3.7.3 UK Eye Tracking Market By Component
12.3.7.4 UK Eye Tracking Market By Application
12.3.8 France
12.3.8.1 France Eye Tracking Market By Type
12.3.8.2 France Eye Tracking Market By Location
12.3.8.3 France Eye Tracking Market By Component
12.3.8.4 France Eye Tracking Market By Application
12.3.9 Italy
12.3.9.1 Italy Eye Tracking Market By Type
12.3.9.2 Italy Eye Tracking Market By Location
12.3.9.3 Italy Eye Tracking Market By Component
12.3.9.4 Italy Eye Tracking Market By Application
12.3.10 Spain
12.3.10.1 Spain Eye Tracking Market By Type
12.3.10.2 Spain Eye Tracking Market By Location
12.3.10.3 Spain Eye Tracking Market By Component
12.3.10.4 Spain Eye Tracking Market By Application
12.3.11 The Netherlands
12.3.11.1 Netherlands Eye Tracking Market By Type
12.3.11.2 Netherlands Eye Tracking Market By Location
12.3.11.3 Netherlands Eye Tracking Market By Component
12.3.11.4 Netherlands Eye Tracking Market By Application
12.3.12 Rest of Europe
12.3.12.1 Rest of Europe Eye Tracking Market By Type
12.3.12.2 Rest of Europe Eye Tracking Market By Location
12.3.12.3 Rest of Europe Eye Tracking Market By Component
12.3.12.4 Rest of Europe Eye Tracking Market By Application
12.4 Asia-Pacific
12.4.1 Asia Pacific Eye Tracking Market By Country
12.4.2 Asia Pacific Eye Tracking Market By Type
12.4.3 Asia Pacific Eye Tracking Market By Location
12.4.4Asia Pacific Eye Tracking Market By Component
12.4.5Asia Pacific Eye Tracking Market By Application
12.4.6 Japan
12.4.6.1 Japan Eye Tracking Market By Type
12.4.6.2 Japan Eye Tracking Market By Location
12.4.6.3 Japan Eye Tracking Market By Component
12.4.6.4 Japan Eye Tracking Market By Application
12.4.7 South Korea
12.4.7.1 South Korea Eye Tracking Market By Type
12.4.7.2 South Korea Eye Tracking Market By Location
12.4.7.3 South Korea Eye Tracking Market By Component
12.4.7.4 South Korea Eye Tracking Market By Application
12.4.8 China
12.4.8.1 China Eye Tracking Market By Type
12.4.8.2 China Eye Tracking Market By Location
12.4.8.3 China Eye Tracking Market By Component
12.4.8.4 China Eye Tracking Market By Application
12.4.9 India
12.4.9.1 India Eye Tracking Market By Type
12.4.9.2 India Eye Tracking Market By Location
12.4.9.3 India Eye Tracking Market By Component
12.4.9.4 India Eye Tracking Market By Application
12.4.11 Australia
12.4.10.1 Australia Eye Tracking Market By Type
12.4.10.2 Australia Eye Tracking Market By Location
12.4.10.3 Australia Eye Tracking Market By Component
12.4.10.4 Australia Eye Tracking Market By Application
12.4.11 Rest of Asia-Pacific
12.4.11.1 APAC Eye Tracking Market By Type
12.4.11.2 APAC Eye Tracking Market By Location
12.4.11.3 APAC Eye Tracking Market By Component
12.4.11.4 APAC Eye Tracking Market By Application
12.5 The Middle East & Africa
12.5.1 The Middle East & Africa Eye Tracking Market By Country
12.5.2 The Middle East & Africa Eye Tracking Market By Type
12.5.3 The Middle East & Africa Eye Tracking Market By Location
12.5.4The Middle East & Africa Eye Tracking Market By Component
12.5.5 The Middle East & Africa Eye Tracking Market By Application
12.5.6 Israel
12.5.6.1 Israel Eye Tracking Market By Type
12.5.6.2 Israel Eye Tracking Market By Location
12.5.6.3 Israel Eye Tracking Market By Component
12.5.6.4 Israel Eye Tracking Market By Application
12.5.7 UAE
12.5.7.1 UAE Eye Tracking Market By Type
12.5.7.2 UAE Eye Tracking Market By Location
12.5.7.3 UAE Eye Tracking Market By Component
12.5.7.4 UAE Eye Tracking Market By Application
12.5.8South Africa
12.5.8.1 South Africa Eye Tracking Market By Type
12.5.8.2 South Africa Eye Tracking Market By Location
12.5.8.3 South Africa Eye Tracking Market By Component
12.5.8.4 South Africa Eye Tracking Market By Application
12.5.9 Rest of Middle East & Africa
12.5.9.1 Rest of Middle East & Asia Eye Tracking Market By Type
12.5.9.2 Rest of Middle East & Asia Eye Tracking Market By Location
12.5.9.3 Rest of Middle East & Asia Eye Tracking Market By Component
12.5.9.4 Rest of Middle East & Asia Eye Tracking Market By Application
12.6 Latin America
12.6.1 Latin America Eye Tracking Market By Country
12.6.2 Latin America Eye Tracking Market By Type
12.6.3 Latin America Eye Tracking Market By Location
12.6.4 Latin America Eye Tracking Market By Component
12.6.5 Latin America Eye Tracking Market By Application
12.6.6 Brazil
12.6.6.1 Brazil Eye Tracking Market By Type
12.6.6.2 Brazil Africa Eye Tracking Market By Location
12.6.6.3 Brazil Eye Tracking Market By Component
12.6.6.4 Brazil Eye Tracking Market By Application
12.6.7 Argentina
12.6.7.1 Argentina Eye Tracking Market By Type
12.6.7.2 Argentina Eye Tracking Market By Location
12.6.7.3 Argentina Eye Tracking Market By Component
12.6.7.4 Argentina Eye Tracking Market By Application
12.6.8 Rest of Latin America
12.6.8.1 Rest of Latin America Eye Tracking Market By Type
12.6.8.2 Rest of Latin America Eye Tracking Market By Location
12.6.8.3 Rest of Latin America Eye Tracking Market By Component
12.6.8.4Rest of Latin America Eye Tracking Market By Application

13 Company Profile
13.1 Seeing Machines Ltd.
13.1.1 Market Overview
13.1.2 Financials
13.1.3 Product/Services/Offerings
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2 Gazepoint Research Inc.
13.2.1 Market Overview
13.2.2 Financials
13.2.3 Product/Services/Offerings
13.2.4 SWOT Analysis
13.2.5 The SNS View
13.3 Tobii AB.
13.3.1 Market Overview
13.3.2 Financials
13.3.3 Product/Services/Offerings
13.3.4 SWOT Analysis
13.3.5 The SNS View
13.4 EyeTech Digital Systems, Inc.
13.4.1 Market Overview
13.4.2 Financials
13.4.3 Product/Services/Offerings
13.4.4 SWOT Analysis
13.4.5 The SNS View
13.5 LC Technologies, Inc.
13.5.1 Market Overview
13.5.2 Financials
13.5.3 Product/Services/Offerings
13.5.4 SWOT Analysis
13.5.5 The SNS View
13.6 EyeTracking, Inc.
13.6.1 Market Overview
13.6.2 Financials
13.6.3 Product/Services/Offerings
13.6.4 SWOT Analysis
13.6.5 The SNS View
13.7 Mirametrix Inc.
13.7.1 Market Overview
13.7.2 Financials
13.7.3 Product/Services/Offerings
13.7.4 SWOT Analysis
13.7.5 The SNS View
13.8 iMotions A/S.
13.8.1 Market Overview
13.8.2 Financials
13.8.3 Product/Services/Offerings
13.8.4 SWOT Analysis
13.8.5 The SNS View
13.9 Smart Eye AB.
13.9.1 Market Overview
13.9.2 Financials
13.9.3 Product/Services/Offerings
13.9.4 SWOT Analysis
13.9.5 The SNS View
13.10 SR Research Ltd.
13.10.1 Market Overview
13.10.2 Financials
13.10.3 Product/Services/Offerings
13.10.4 SWOT Analysis
13.10.5 The SNS View

14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments

15. USE Cases and Best Practices

16. Conclusion

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Secondary Research

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Primary Research

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Data Bank Validation

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