The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The eye tracking market has experienced significant growth in recent years and is poised for even greater expansion in the near future.

Current Market Landscape and Growth Drivers

• In 2023, the eye tracking market was valued at $1.96 billion and is projected to reach $2.22 billion in 2024, growing at a CAGR of 13.4%.
• Growth in the historic period attributed to:
  • Research and academic applications
  • Emergence of VR and AR
  • Usability testing in UX design
  • Medical and healthcare applications
  • Integration in the gaming industry

Future Growth Projections

• Expected to grow to $5.82 billion by 2028, with a CAGR of 27.3%.
• Growth drivers in the forecast period include:
  • Expansion into automotive industry
  • Advancements in wearable devices
  • Attention-based content creation
  • Health monitoring and biometrics
  • Increasing consumer electronics adoption

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Emerging Trends

• Rise of remote work and collaboration tools
• Accessibility and assistive technologies
• Market research and advertising applications
• Widespread adoption in consumer electronics
• Advancements in remote eye tracking technology

Increasing Demand for Assistive Communicators Fuels Market

• Eye-tracking technology aids individuals with communication impairments.
• Facilitates natural and efficient communication by tracking eye movements.
• WHO and UNICEF report highlights increasing global demand for assistive products.
• Projected increase to 3.5 billion users by 2050 due to aging population and diseases.
• Expected to drive substantial growth in the eye tracking market.

Focus on Mobile Eye Tracking Solutions

• Companies developing mobile solutions for marketing and advertising research.
• Real-time monitoring and analysis of eye movements using portable devices.
• Applications in usability testing, human-computer interaction, and assistive technologies.
• Tobii AB’s launch of Sticky enhances mobile eye tracking capabilities.
• Enables advanced research on desktops, laptops, and mobile devices without additional installations.

Smart Eye Expands Capabilities with iMotions Acquisition

• Acquisition of iMotions by Smart Eye for USD 46.6 million in December 2021.
• Provides comprehensive human insights through multi-modal evaluations.
• Enhances understanding of complex human behaviors in real-world contexts.
• Strengthens Smart Eye’s position in the eye tracking market.

Segmentation of the Eye Tracking Market

• By Type: Eye Attached Tracking, Optical Tracking, Electrooculography
• By Component: Hardware, Software
• By Location: Remote, Mobile
• By Application: Healthcare, Retail, Research, Automotive, Consumer Electronics, Other Applications

Regional Insights

• North America led the eye tracking market in 2023.
• Asia-Pacific expected to be the fastest-growing region in the forecast period.

Key Players in the Market

• Tobii AB
• Varjo
• Smart Eye AB
• RealEye
• Xsens Technologies B.V.
• Noldus Information Technology
• Seeing Machine
• Sensomotoric Instruments (SMI)
• iMotions A/S
• NovaSight
• Eyegaze Inc.
• Clearview Eye Clinic
• GazeHawk
• Pupil Labs

Conclusion
The eye tracking market is on a trajectory of rapid expansion driven by technological advancements and diverse applications across industries. From enhancing communication for individuals with disabilities to revolutionizing market research and consumer electronics, eye tracking technology continues to pave the way for innovative solutions in various sectors globally. As the market evolves, companies investing in mobile solutions and expanding their capabilities through acquisitions are expected to lead the next phase of growth, making eye tracking a pivotal technology in the digital age.

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