Eye Tracking Market Size & Overview:

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The Eye Tracking Market size was USD 1.01 Billion in 2023 and is expected to Reach USD 11.4 Billion by 2032 and grow at a CAGR of 30.6% over the forecast period of 2024-2032.

The eye-tracking market has seen a rise due to a number of factors, including increased governmental provisions and technological developments. According to the recent statistics available from the U.S. Department of Health and Human Services and the National Institutes of Health, the technology has been receiving immense uptake in most healthcare and research sectors. For instance, in 2023, the government provided over $150 million for research in neurodegenerative diseases, autism, and other conditions where eye tracking is vital in diagnosis. In addition, the government also allocated money for the National Institutes of Health that would be used further to introduce eye tracking R&D in various sectors that would necessitate assistive technologies, such as the Commission of the European Communities to create assistive technologies for patients with no mobility or communication abilities. With such a move, numerous companies have been able to innovate perfect optical systems to match any desirable tool. New policies set by the government regarding the use of AI-enhanced eye-tracking apparatus in public healthcare and the education sectors are expected to facilitate the rise of this technology allowing it to reach those who lack access to the inadvertently low-quality or costly tools in such places. Therefore, it is apparent that governmental provisions and policies play a vital role in the market rise.

The demand for contactless biometrics has been of high value in the defence and prison areas. Technology currently in use, such as the Iris Scanning by the Maine Department of Corrections allows for high-level security in such sectors. However, instruments that provide integrated solutions for vision capturing are limited. Nevertheless, the field is expected to expand even further due to the increase in R&D activities and strategic partnerships. Some of the products that have emerged from such activities include vision-controlled wheelchairs such as those created by EyeTech Digital Systems in collaboration with Quantum Rehab. In addition, assistive technologies are already in place, such as Tobii’s Gaze interaction which helps disabled people in their task execution. Tobii is also set to provide technology for experience in VR in collaboration with Ready Player and LIV.

 Eye Tracking Market Dynamics

Drivers

• Increasing use of eye-tracking technology in advertising and consumer research.

• Growing use of eye tracking for non-invasive diagnosis of neurological disorders like Alzheimer's, autism, and ADHD.

• Integration of eye tracking into augmented and virtual reality systems to improve user interaction and provide immersive experiences, especially in gaming, education, and training.

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 behaviour. 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.

Restraints

• Advanced eye-tracking devices remain expensive, limiting their adoption, especially among small and medium-sized businesses.

• The absence of standardized protocols for data collection and analysis creates inconsistencies, affecting adoption in critical industries like healthcare.

Opportunities

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

 Eye Tracking Market Segmentation

By Type

The optical tracking segment dominated the market and held 51% of the total revenue share in 2023 of the eye tracking market. This technology’s dominance is due to its highly accurate and non-intrusive data collection methods. Optical tracking is an ideal method when it comes to a wide span of applications, including consumer research, healthcare, and automotive industries. The eye tracking installed on commercial devices, for instance, is meant to improve the whole user experience through gaze tracking combined with artificial intelligence algorithms and machine learning. When it comes to the optical tracking systems themselves, the technology is mostly reliable and highly precise as it usually involves high-speed camera data and infrared light sources. At the same time, optical eye tracking technology is valuable for marketing and academic research as it ensures convenience for the interest of commercial and academic purposes. This type of technology has enjoyed stable funding from both public and private sources.

The European Union’s Horizon 2020 program was devoted to researching human-computer interaction and provided over €100 million in funding. Optical eye tracking technology is featured high on the program’s funding projects, which was aimed at researching VR and AR. Similarly, the U.S. National Science Foundation was supporting the development of optical tracking systems for similar commercial use. This segment’s versatility, especially in sectors like healthcare diagnostics and automotive driver assistance, continues to lead market growth due to these public and private funding initiatives.

By Application

In 2023, the healthcare segment dominated the eye tracking market which covered 24% of the total revenue. The reason for the significant rise was a growing adoption of the eye tracking systems in medical diagnostics. More specifically, such technological tools are now used for neurodegenerative diseases, ophthalmology, and mental health research. Although the World Health Organization reports a growing number of people affected by neurological conditions such as Alzheimer’s disease, it is worth noting that in 2023 the number exceeded 50 million people over the globe. Additionally, such eye tracking systems are becoming a popular non-invasive diagnostic tool, which allows one to early detect cognitive impairments. Finally, in the reported year, the United States Food and Drug Administration approved a number of devices based on the use of these technologies for diagnosing autism spectrum disorder and attention deficit hyperactivity disorder. Accordingly, the significance of their role in the sector grows. At the same time, these tools also find their application in medical training and rehabilitation products. The government’s focus on improving healthcare services, combined with the rising prevalence of neurological diseases, is expected to sustain this segment’s dominance.

Regional Analysis

North America dominated the global eye-tracking market in 2023. The factors attributed to its leadership in the market are significant government spending on healthcare and research. For instance, in 2023, the U.S. Government spent more than 150 billion dollars on the development of healthcare technology, with a portion of these funds spent on advanced diagnostic technologies including eye-tracking equipment. Notably, North America’s government through its agencies such as the National Institute of Health and National Science Foundation has substantially spent on eye-tracking research. Besides, the region’s dominance is facilitated by the presence of a favourable technological infrastructure and the availability of leading tech firms such as Apple and Microsoft who have incorporated the use of eye tracking their technology. The high prevalence of neurological disorders and the stretching use of the vision tracing equipment in clinical trials and diagnostics are attributed to the dominance of the product on the North American market. In addition, North America also boasts of research and development capabilities in healthcare technologies, the support of government funds, and current technological advancement will offer a favourable environment for the market. The Asia Pacific regional market is projected to progress at the fastest growth rate over the forecast period. Increased eye tracking use, mainly in consumer electronics, is expected to drive significant growth in the Indian, Chinese, and Japanese markets.

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Key Players

• Tobii AB (Tobii Pro Glasses 3, Tobii Eye Tracker 5)

• SR Research Ltd. (EyeLink 1000 Plus, EyeLink Portable Duo)

• Smart Eye AB (AIS DMS, Smart Eye Aurora)

• Seeing Machines (FOVIO Driver Monitoring System, Guardian)

• Ergoneers GmbH (Dikablis Professional Glasses, D-Lab Software)

• Pupil Labs GmbH (Pupil Core, Invisible Eye Tracking Glasses)

• Gazepoint Research Inc. (GP3 HD Eye Tracker, Gazepoint Control)

• EyeTech Digital Systems (AEye VT3, EyeTech TM5 Mini)

• iMotions (iMotions Lab, iMotions API)

• EyeSee (EyeSee Glasses, EyeSee Online Eye Tracking)

• The Eye Tribe (Eye Tribe Tracker, Eye Tribe SDK)

• SensoMotoric Instruments (SMI) (SMI Eye Tracking Glasses 2.0, RED250mobile)

• ISCAN, Inc. (ETL-500 Remote Eye Tracking Lab, RK-826PCI-Eye Tracking System)

• PRIMA Research & Production (FaceLAB, OptiLAB)

• RightEye LLC (RightEye Vision System, RightEye Reading Test)

• Converus, Inc. (EyeDetect, EyeDetect Plus)

• Visage Technologies AB (Visage SDK, Visage Core)

• Mirametrix Inc. (S2 Eye Tracker, Glance by Mirametrix)

• Emotiv (Insight Eye Tracker, Epoc X Eye Tracker)

• Optalert Pty Ltd (Optalert Eagle, Optalert Mobile) and others.

Latest News and Developments

April 2023, The U.S. Department of Veterans Affairs announced the agreement with leading tech companies to apply eye tracking technology to rehabilitation programs for veterans who had suffered traumatic brain injuries. The use of real-time eye movement details in the process of diagnosing and rehabilitating veterans is expected to enhance the survival rate, diagnostic accuracy, and efficiency of rehabilitation programs.

In June 2023, The European Commission passed new regulations to promote the application of eye tracking technology in the public healthcare systems of all members of the European Union. This includes financial incentives for hospitals and medical centers which agree to apply advanced diagnostic instruments, including eye tracking technologies, to provide improved care to patients, particularly in the areas of neurological and psychiatric care.