Eye Tracking Market Analysis

Eye Tracking Market Analysis

Based on the component, the market is segmented into hardware, and software. The software segment is poised to observe around 32% CAGR through 2032.
 

• With the increasing demand for advanced analytics and data processing capabilities in eye tracking applications, the market is witnessing a shift towards software-based entities. Software solutions offer sophisticated algorithms and tools for processing, analyzing, and visualizing eye tracking data, enabling researchers, developers, and businesses to derive actionable insights and make data-driven decisions. For instance, in October 2023, Prophesee SA announced the availability of the GenX320 event-based Metavision sensor, a software for integration into ultra-low-power edge AI vision devices.
   

Based on the application, the eye tracking market is divided into healthcare, retail, research, automotive, consumer electronics, and others. The healthcare segment dominated the market with a share of over 28% in 2023.
 

• The rising trend of integrating eye tracking technology into various healthcare applications underscores its potential to revolutionize diagnostics, rehabilitation, assistive technology, ophthalmology, medical education, and telehealth, contributing to improved patient outcomes, enhanced clinical decision-making, and greater accessibility to healthcare services. For instance, in May 2023, Tobii Dynavox introduced the TD I-Series, a fast, light and durable communication aid that is controlled with the eyes. Purpose-built for individuals with conditions such as ALS, cerebral palsy, or Rett Syndrome, the TD I-Series has enhanced eye tracking and a wide range of pre-loaded applications for easy communication.
   

Asia Pacific eye tracking market is expected to maintain a robust CAGR of over 30% from 2024 to 2032. The region's rapid economic expansion, coupled with the rising industries like healthcare, education, gaming, and automotive, fuels the demand for eye tracking technology. This is coupled with the increasing integration of eye tracking in consumer electronics, virtual reality (VR), and augmented reality (AR) devices. Moreover, the rising adoption of eye tracking for UX research, market analysis, and medical diagnostics in Asia Pacific contributes significantly to the expanding market landscape.