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How has the Eye Tracking market grown in recent years?

In recent times, there’s been a substantial expansion of the eye tracking market size. It’s anticipated that this market will escalate from a value of $2.22 billion in 2024 to roughly $2.54 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 14.6%. Several factors contributed to this growth during the historic period such as the use of eye tracking in research and academic settings, the rise of both virtual reality (VR) and augmented reality (AR), its application in usability testing for user experience (UX) design, adoption in the medical and healthcare sectors, and the integration into the gaming industry.

How is the eye tracking solutions market size expected to evolve during the forecast period?

Anticipations suggest a notable surge in the eye tracking market size in the upcoming years, with predictions coming in at a hefty $8.2 billion by 2029, with a compound annual growth rate (CAGR) of 34.1%. This anticipated growth during the forecast period can be linked to the growing use in the automotive industry, cutting-edge developments in wearable devices, attention-oriented content creation, health observation, and biometrics as well as heightened adoption of consumer electronics. The forecast duration also anticipates trends such as the rise of remote work and collaboration tools, the advent of assistive technologies and accessibility, market research and advertising, a broader acceptance in consumer electronics, gaze-centered advertising and market research, and advancements in remote eye tracking.

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Which key drivers are propelling the eye tracking market’s growth?

The eye-tracking market is projected to expand due to the growing need for assistive communicators. These tools, which enrich and facilitate the communication process for those with impairments, utilize eye-tracking technology. This allows the user to direct and use assistive communicators just by moving their eyes, providing a more efficient and natural way of expressing themselves. According to a report from two globally recognized United Nations agencies, The World Health Organization (WHO) and United Nations Children’s Fund (UNICEF), in May 2022, it was revealed that over 2.5 billion individuals require one or more assistive products such as wheelchairs, hearing aids, or applications that aid in communication and cognitive abilities. Furthermore, the report anticipated that by 2050, this number could escalate to 3.5 billion due to factors like global aging and the rising prevalence of non-communicable diseases. Therefore, the mounting demand for assistive communicators could significantly enhance the growth trajectory of the eye-tracking market.

What are the market segments in the eye tracking industry?

The eye tracking market covered in this report is segmented –

1) By Type: Eye Attached Tracking, Optical Tracking, Electrooculography

2) By Component: Hardware, Software

3) By Location: Remote, Mobile

4) By Application: Healthcare, Retail, Research, Automotive, Consumer Electronics, Other Application

Subsegments:

1) By Eye Attached Tracking: Wearable Devices, Head-Mounted Displays (HMDs)

2) By Optical Tracking: Remote Eye Trackers, Camera-Based Systems, Video-Based Eye Tracking Solutions

3) By Electrooculography: Contact Electrooculography Devices, Non-Contact Electrooculography Devices, Research-Grade Electrooculography Systems

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Which leading companies are shaping the growth of the eye tracking market?

Major companies operating in the eye tracking market report are 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, Element Human Ltd., Ergoneers GmbH, Eye Tracking Inc., Gazepoint Research Inc., LC Technologies Inc., 4tiitoo AG, The Eye Tribe, Emotiv Inc., Mirametrix Inc., EyeTech Digital Systems, Polhemus, SR Research, PRS IN VIVO, Phoenix Research Labs, GazeHawk, Pupil Labs

What key trends are currently impacting the eye tracking market’s development?

Major firms in the eye-tracking market, such as webcam eye-tracking, are strategically focusing on creating innovative solutions to gain a competitive edge. The technology of webcam eye-tracking employs standard webcams or similar cameras to observe and evaluate eye movements and gaze orientation of a user in real time. As an example, in June 2024, Tobii AB, a computer software company based in Sweden, introduced the Tobii Nexus, an application for webcam eye tracking. The Tobii Nexus is an advanced webcam eye-tracking solution that effortlessly merges with standard webcams, allowing precise gaze tracking without resorting to specialized hardware. It stands out with its real-time eye-tracking capabilities, easy calibrations, and compatibility with different software applications, which makes it perfect for research, accessibility, and user experience analysis.

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Which geographic areas are influencing the growth of the eye tracking market?

North America was the largest region in the eye tracking market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the eye tracking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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