U.S. Eye Tracking Market Poised for Rapid Growth, Projected to Reach USD 1 Billion by 2030

U.S. Eye Tracking Market Poised for Rapid Growth, Projected to Reach USD 1 Billion by 2030

According to Next Move Strategy Consulting, the U.S. Eye Tracking Market is set to experience substantial growth, with a projected market size of USD 1 billion by 2030, reflecting a Compound Annual Growth Rate (CAGR) of 28% from 2024 to 2030. In 2023, the market was valued at USD 191.8 million, highlighting a dynamic expansion driven by technological advancements and increased industry adoption.

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Key Market Drivers:

  1. Expansion of Healthcare and IT Sectors:
    Eye tracking technology is increasingly integrated into healthcare, playing a crucial role in diagnosing and treating neurological disorders and ophthalmological diseases. The precision of eye tracking systems enhances clinical research methodologies, improving patient care and treatment outcomes. Additionally, the IT sector benefits from eye tracking through enhanced user interfaces, gaming experiences, and optimized productivity tools, further fueling market growth.
  2. Automotive Industry Integration:
    The automotive sector is another significant driver of eye tracking technology adoption. Notable developments, such as the partnership between Smart Eye and a leading global heavy vehicle OEM, emphasize the growing use of Driver Monitoring Systems (DMS). This technology is particularly critical in the commercial vehicle sector, supporting safety measures and improving the driving experience.
  3. Growing Applications in AR/VR and Cognitive Testing:
    The integration of eye tracking into augmented reality (AR), virtual reality (VR), and cognitive testing applications creates new opportunities for market expansion. Eye tracking systems in AR and VR applications improve image clarity and reduce eye strain, enhancing user experiences. Companies like Mojo Vision are advancing this integration, with new AR smart contact lenses featuring embedded eye tracking technology.

Challenges to Growth:

The market faces challenges from alternative technologies such as gesture recognition, unimodal methods, and multimodal activity recognition. These alternatives provide competitive solutions, limiting the potential for market expansion in some areas.

Competitive Landscape:

Leading players in the U.S. eye tracking market include:

  • Tobii AB
  • Smart Eye AB
  • Lattice Semiconductor Corp
  • Seeing Machines Limited
  • EyeTracking
  • Pupil Labs
  • Eyeware Tech

These companies are at the forefront of developing innovative eye tracking solutions that cater to diverse industries, from healthcare to automotive and consumer behavior research.

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Market Segmentation:

  • By Type: Head Mounted Eye Tracker, Remote Eye Tracker
  • By Component: Hardware, Software
  • By Application: Assistive Communication, Academic Research, Consumer Behavior Research, Usability Testing, Other Applications
  • By End-User Industry: Retail, Automotive, Healthcare, Government, Others

Market Outlook:

As the U.S. eye tracking market grows rapidly, opportunities for technological advancements and industry-specific applications are set to drive sustained market expansion. With significant investments from both established tech giants and innovative startups, the future of eye tracking technology looks promising, offering numerous benefits across sectors ranging from healthcare to user experience testing and beyond.

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Next Move Strategy Consulting is a premier market research and management consulting firm that has been committed to provide strategically analysed well documented latest research reports to its clients. The research industry is flooded with many firms to choose from, what makes Next Move different from the rest is its top-quality research and the obsession of turning data into knowledge by dissecting every bit of it and providing fact-based research recommendation that is supported by information collected from over 500 million websites, paid databases, industry journals and one on one consultations with industry experts across a diverse range of industry sectors. The high-quality customized research reports with actionable insights and excellent end-to-end customer service help our clients to take critical business decisions that enables them to move beyond time and have competitive edge in the industry.

We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicates as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solutions that range from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses.

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