Eye Tracking Market Set for Rapid Expansion, Projected to Reach $5.82 Billion by 2028

The Business Research Company's Eye Tracking Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 24, 2024 /EINPresswire.com/ -- The eye tracking market, valued at $1.96 billion in 2023, is expected to grow to $2.22 billion in 2024, reflecting a compound annual growth rate (CAGR) of 13.4% during this period. This growth is driven by its widespread adoption in research and academic applications, as well as its integration into virtual reality (VR) and augmented reality (AR) systems. The technology's utility in usability testing for user experience (UX) design and its applications in medical and healthcare sectors, alongside its integration into the gaming industry, further fuel market expansion.

The market is poised for exponential growth in the coming years, with projections reaching $5.82 billion by 2028 at a CAGR of 27.3%. Key drivers in this forecast period include expanded applications in the automotive industry, advancements in wearable devices, and the rise of attention-based content creation. Additionally, eye tracking technology's role in health monitoring, biometrics, and its increasing adoption in consumer electronics contribute significantly to this growth trajectory.

Assistive Communicators Driving Market Demand
One of the primary drivers propelling the eye tracking market is the increasing demand for assistive communicators. These tools assist individuals with communication impairments by enabling them to express thoughts, ideas, and needs more effectively. Eye tracking technology facilitates control and navigation of assistive communicators by tracking users' eye movements, offering a natural and efficient means of communication. As the global population ages and non-communicable diseases become more prevalent, the demand for such assistive technologies is expected to surge, thereby boosting market growth.

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Key Players and Market Trends
Major companies in the eye tracking market, such as Tobii AB, Smart Eye AB, and Varjo, are focusing on developing mobile eye-tracking solutions tailored for marketing and advertising research. These solutions enable real-time monitoring and analysis of eye movements using portable devices, enhancing their usability testing capabilities and effectiveness in human-computer interaction. For instance, Tobii AB's Sticky platform integrates webcam eye tracking and emotion recognition, allowing businesses to conduct advanced quantitative research across desktops, laptops, and mobile devices without additional installations.

Segments of the Eye Tracking Market
• Type: Eye Attached Tracking, Optical Tracking, Electrooculography
• Component: Hardware, Software
• Location: Remote, Mobile
• Application: Healthcare, Retail, Research, Automotive, Consumer Electronics, Other Applications

Geographical Insights: Asia-Pacific Leading Growth
North America dominated the eye tracking market in 2023, with Asia-Pacific expected to witness the fastest growth during the forecast period. The comprehensive report offers detailed insights into regional dynamics, market trends, and growth opportunities.

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Eye Tracking Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Eye Tracking Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on eye tracking market size, eye tracking market drivers and trends, eye tracking market major players, competitors' revenues, market positioning, and market growth across geographies. The eye tracking market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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