Global Eye Tracking Market Size, Share, Growth Analysis, By Type(Optical Tracking, Eye Attached Tracking), By Component(Hardware, Software), By Application(Retail, Automotive) - Industry Forecast 2022-2028

Global Eye Tracking Market size was valued at USD 638.8 million in 2021 and is poised to grow from USD 852.16 million in 2022 to USD 11400.48 million by 2030, growing at a CAGR of 33.4% in the forecast period (2023-2030).

The market is expected to expand considerably due to factors such as the rising demand for contactless biometrics, the use of smart sensors for process control and decision-making, and the adoption of artificial intelligence (AI), virtual reality (VR), and augmented reality (AR) in consumer electronics and other commercial application areas. The market has been growing in importance as a result of the expanding usage of vision-capturing technology in business settings, particularly in fields and industries such retail, healthcare, research, automotive, consumer electronics, government & defence, and security & surveillance.

The optical tracking system, often known as the video-based eye-tracker, is the most popular type of vision capture technology among consumers. It employs trackers to continuously record the sight, movement, and location of the subject being tracked. Eye-tracking technologies are widely used in market research, web marketing, and the analysis of print and digital media advertisements.

In June 2021, for instance, Tobii Pro unveiled Sticky, a self-service online platform for marketing and advertising researchers that combines webcam eye tracking and emotion identification with online survey questions to streamline complex quantitative research.

One of the main factors driving market expansion is the rising demand for contactless biometrics. For security reasons, biometric technology is mostly used in the jail management systems and defence industry. Defence agencies and law enforcement agencies identify people using iris biometric scanners to boost security. The Maine Department of Corrections in Washington, D.C., for example, has implemented iris scanning technology, which is contactless and significantly faster than fingerprint scanning technology. The technology is utilised to monitor the inmates, verify visitors' identities, and check visitors' identities before granting them entry to restricted locations.

Visual capture, however, is a relatively new technological advancement. Because of this, there aren't many reputable businesses offering integrated vision-capturing solutions. These players place a high priority on expanding their R&D initiatives, strategic partnership formation, and mergers and acquisitions.

Top-down and bottom-up approaches were used to estimate and validate the size of global Eye Tracking Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analysed to get the final quantitative and qualitative data.

Segments covered in this report

The global eye tracking market is segmented based on type, component, application, and region. Based on type, the eye tracking market is segmented into optical tracking and eye-attached tracking. Based on components, the eye tracking market is segmented into hardware and software. Based on application, the eye tracking market is segmented into retail, automotive, healthcare, military & aerospace, and others. Based on region, the global eye tracking market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.

Driver

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

In-depth use of eye-tracking technology has been made in market research. Eye-tracking technology is being sought after by more and more individuals in retail, particularly in the FMCG sector. To better understand consumer behaviour in retail businesses, eye-tracking technology and related algorithms are being deployed. These tools and algorithms assist in determining how long a buyer looks at a product, how to best present it to them in a store to encourage purchase, and what style of packaging provides the most useful product information for the customer. Eye tracking is also used for digital marketing and for assessing the efficacy of print, billboard, and online advertisements. These are a few of the elements that influenced the global eye-tracking market throughout the study period.

Restraint

The manufacture and sale of eye-trackers are hampered by supply-chain disruption.

Due to the pandemic, numerous countries have implemented lockdowns, which has had an impact on the supply chain of many markets, including the market for eye-tracking. The supply chain disruption makes it difficult for manufacturers of eye-tracking devices to develop and distribute their products. These are a few of the factors limiting demand and preventing the eye-tracking industry from expanding throughout the study period.

Market Trends

Due to their capacity to give users a more immersive experience, enhance image quality, reduce eye strain, and improve concentration, augmented reality (AR) and virtual reality (VR) technologies are becoming more and more popular. Since eye-tracking technology may be incorporated into a variety of augmented reality (AR) and virtual reality (VR) devices, including headgear and personal computers, it presents a development opportunity. Due to the possibility of this, several eminent businesses have invested in research in these fields. During the analysis period, these are some of the key trends driving the eye-tracking market