Eye tracking is the process of measuring and recording the motions and positions of a person's eyes, usually utilising specialised hardware and software. It is utilised in many domains, including psychology, neuromarketing, neuroscience, human-computer interface, and market research, to better understand how people perceive and interact with their surroundings.
According to SPER Market Research, ‘Global Eye Tracking Market Size- By Type, By Component, By Application - Regional Outlook, Competitive Strategies and Segment Forecast to 2034’ state that the Global Eye Tracking Market is predicted to reach 27730.8 million by 2034 with a CAGR of 33.65%.
Drivers:
Several significant drivers are driving the global eye tracking market, including increased demand for enhanced user experiences in gaming and virtual reality applications. Furthermore, advances in assistive technologies for people with impairments are increasing the use of eye tracking systems. Eye tracking is also becoming increasingly used in market research and advertising to analyse consumer behaviour. Furthermore, the increased emphasis on user-centred design in product creation, as well as the integration of eye tracking in healthcare for patient monitoring and rehabilitation, are driving market growth and demonstrating its adaptability across industries.
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Restraints:
The main challenge with eye tracking systems is their cost. Although prices have become more reasonable, high-quality hardware and software remain expensive, making it hard for small businesses, startups, and budget-conscious industries to adopt this technology. Lowering costs is essential for wider use of eye tracking. Accessible, affordable systems are crucial for allowing smaller companies, educational institutions, and emerging markets to invest in eye tracking. Limited access can hinder the growth potential of this technology, especially in sectors that operate with tight budgets. The North American region dominated the market with the most revenue in 2024 and is likely to maintain its dominance during the forecast period. One of the key causes for North America's rapid growth is growing usage of advanced technologies in the healthcare industry, as well as research projects aimed at better understanding human behaviour. Some of the key market players are Tobii AB, SR Research Ltd, iMotions A/S, Gazepoint Research Inc, EyeTech Digital Systems, Inc, and others.
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