| Eye Tracking System Market Size (2022) | US$ 1.2 Bn |
| Sales Forecast for Eye Tracking Systems (2028) | US$ 4.9 Bn |
| Global Market Growth Rate (2022 to 2028) | 26.6% CAGR |
| Share of Top 5 Eye Tracking System Providers | 50% |
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Eye tracking system sales accounted for around 28% market share of the global iris recognition market in 2021. Demand for mobile eye tracking systems is projected to rise at a CAGR of 28% over the assessment period of 2022 to 2028.
The global eye tracking system market witnessed a high growth rate of 20.9% over the historical period of 2013 to 2022 to 2028.
Eye tracking devices provide a way to study human eye movements and derive insights on the underlying processes that influence human decision making.
Eye tracking systems gave a new way of communication to physically or mentally disabled patients and helped improve quality of life for them and their families and care givers.
Unbiased customer response data was now available from eye tracking systems, which de-layered decision making processes and provided insights on how customers see products.
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However, with evolving technology, new use cases are coming up and promise to provide lucrative new opportunities for eye tracking system providers.
Foremost among such new use cases for eye tracking devices are smartphones, gaming and AR/VR (augmented reality/virtual reality) segment. Smartphones have become ubiquitous today and integrating eye tracking software in smartphones has become a USP for high-end devices.
In combination with motion tracking, eye tracking systems have revolutionized the way gaming sector has developed from stationary consoles to active involvement gaming.
Development of AR/VR headsets and their use in a variety of applications is a huge potential market for eye tracking systems. Eye tracking system technology helps create unprecedented immersive experiences in AR/VR sector and also enhances technology developments of AR/VR headsets with benefits such as foveated rendering.
Unique benefits offered by smart eye tracking systems for consumer behavior research and academic & scientific research are fueling eye tracking equipment consumption.
Additionally, increasing demand for assistive communication devices for patients suffering from ALS, ALS, Autism, Rett syndrome, Muscular dystrophy, Cerebral palsy, Aphasia, Parkinson’s and other diseases are also helping the market growth.
Growing adoption of eye tracking systems for laser refractive surgery, rising use of eye tracking software, and latest advancements in eye tracking technology are driving market expansion.
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The global eye tracking system market is expected to rise at 26.6% CAGR across 2022 to 2028.
North America is the largest market for eye tracking systems. The North American regional market is projected to account for 52.3% of the global market share in 2022.
High demand for smart eye tracking systems can be credited to the relative cost supremacy of the region. Rising adoption of sensing devices and contactless biometric technologies are the key factors contributing to the growth of the market.
Growing use of innovative eye tracking technology in the healthcare sector, as well as increased research initiatives, to better understand human behavior are driving the eye tracking market growth in North America.
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Why are There High Prospects for Eye Tracking Equipment Manufacturers in the U.S.?
The market for eye tracking devices in the United States is rising due to increased use eye tracking systems for laser refractive surgery. Majority of key industrial participants are based in the United States, and most of the developments take place there as well.
Significant prospects for eye tracking systems have emerged as a consequence of rising developments and advancements in technology in the automotive industry in the United States.
What is the Scope of Growth for Eye Tracking System Providers in China?
The market for eye tracking technology in China is expected to grow at the fastest rate throughout the forecast period. Rising use of vision tracing technology, particularly in consumer electronics, is expected to fuel eye tracking system sales in China.Eye tracking equipment demand is most likely to gain a significant boost in China by descending price points and an extending application base, especially in the academic research realm and multiple commercial areas.
Growing adoption of technology, increased R&D funding, and increased awareness of eye tracking technologies across the country fueling the shipments of eye tracking systems.
The market for eye tracking equipment is predicted to increase due to latest innovations in the consumer electronics and automobile sectors, particularly in China.