Europe Eye Tracking Solutions Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR (2024 - 2029) | 17.50 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Europe Eye Tracking Solutions Market Analysis
The Europe Eye Tracking Solutions Market is expected to register a CAGR of 17.5% during the forecast period.
The rising demand for eye-tracking technologies in the various end-user industries drives the market growth in the studied period.
- The technology translates eye movements into a data stream, capturing details like pupil position, the gaze vector for each eye, and the resulting gaze point. Eye tracking is often used for marketing purposes to track how people interact with websites or products. Further, it is used for understanding consumer behavior or evaluating the effectiveness of advertising.
- The increasing advances in the biometric sector for data security are driving the use of eye tracking, as eye data can be collected and recorded using an eye tracker. The data offer unprecedented insights into human actions and environments, digitizing how people communicate with computers and providing novel opportunities to conduct passive biometric-based classification.
- Further, the growing desire for increased security in everyday life because of digitalization has prompted the development of a reliable and intelligent biometric-based person identification system. Recently, the Iris Recognition system has been considered an effective biometric model for recognizing humans, and a lot of development is going on in the market, which will propel the use of eye-tracking technology over the forecast period.
- In Nov 2022, the United Kingdom deployed fingerprint and face biometrics to track deportees and non-Irish EU citizens. The administration is stepping up its surveillance efforts by deploying biometric scanners. Such developments will drive the growth of eye-tracking solutions.
Europe Eye Tracking Solutions Market Trends
Automotive and Transportation to Have a Significant Share
- Eye tracking allows obtaining important elements regarding the drivers' behavior during their driving activity by employing a device that tracks the eye's movements and the user's observation point.
- Europe is one of the major contributors to the automotive industry worldwide, with the region being the home to many global automotive manufacturers. Germany is Europe's biggest automotive market, with Europe's leading producer, accounting for about 25 percent of all passenger cars manufactured and 20 percent of all new registrations.
- Additionally, according to the Society of Motor Manufacturers and Traders (SMMT), the UK automotive industry will be a vital part of the UK economy, worth more than EUR 67 billion in turnover and adding EUR 14 billion value to the UK economy. Additionally, the United Kingdom produced. Over 775,014 cars in 2022.
- The players in the market are focusing on strategic investments to stronghold their presence and cater wider customer base. For instance, Smart Eye, a Swedish company that supplies driver monitoring systems for automakers, announced the acquisition of Affectiva, an emotion-detection software start-up, for USD 73.5 million.
- Also, Smart Eye announced the acquisition of iMotions, a human behavior software company, for USD 46.6 million. The acquisition will help Smart Eye in using the company's capability that can be folded into its own AI-based eye-tracking technology. Such developments are driving the demand for the market over the studied period.
France to Have a Significant Market Share
- The adoption of eye tracking in automotive and consumer electronics, among others, is boosting the market's growth in the country. The automotive industry in France is the biggest contributor to France's foreign trade balance and ranks third in terms of vehicle production in Europe, after Germany and Spain.
- The French automotive industry is constantly making efforts to increase competitiveness, in particular through high pressure, to mitigate costs at every level as well as strong investment in R&D (with spending in excess of EUR 5 billion annually). According to the OICA, in 2022, some 1.93 million vehicles were sold in France.
- Additionally, the increasing penetration of smartphones in the country is boosting the market demand as eye trackers and eye-tracking software are used to determine where the user is focusing and how they move their eyes around the screen.
- As per the Ericsson subscription outlook 2022, by the end of 2022, 5G subscription penetration in Western Europe is expected to be 11 percent of the global penetration, whereas, by 2028, it is expected that Western Europe will have the second largest 5G penetration after North America, at 88 percent.
- Further, the vendors in the region are receiving various funding for the faster deployment of their eye-tracking technologies. For instance, Pcube-Labs BV gas recently received funding of USD 4.75 million to deploy its eye-tracking technology, Neuroclues, in Europe and the U.S. The technology will help in the early diagnosis of neurological disorders such as Parkinson's, multiple sclerosis, and Alzheimer's disease.
Europe Eye Tracking Solutions Industry Overview
The Europe eye-tracking solutions market is highly competitive. An increase in the number of applications and technological advancements across the region provides lucrative opportunities in the market. Overall, the competitive rivalry among competitors is high. The major vendors operating in the market look for strategic investments to expand their market share. Some of the strategies adopted by them are as follows:
June 2024: Tobii, a Swedish player in eye tracking technology and a trailblazer in attention computing, unveiled Tobii Nexus. This software platform, designed solely for eye tracking data integration, is set to revolutionize the field. With its ability to discern where individuals direct their attention, Tobii Nexus is poised to catalyze advancements in eye tracking applications, particularly in the evaluation of conditions like Autism Spectrum Disorder (ASD), ADHD, and depression.
May 2024: Apple has announced plans to integrate eye-tracking technology into its upcoming iPhone and iPad models, slated for release later this year. This move aims to assist individuals with physical disabilities. With this technology, users can navigate and interact with their devices simply by gazing at the front-facing camera and pausing on their desired selection.
Europe Eye Tracking Solutions Market Leaders
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Tobii AB
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Seeing Machines
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Smart Eye AB
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Mirametrix Inc
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iMotions A/S
*Disclaimer: Major Players sorted in no particular order
Europe Eye Tracking Solutions Market News
- In July 2024, The Special Opportunities Fund partners with Braingaze, introducing a groundbreaking tool that leverages eye tracking for rapid ADHD diagnosis. This innovation not only facilitates drug-free treatment for cognitive disorders but also propels brain-related healthcare into the digital era, powered by AI.
- April 2024: French-Belgian medtech startup neuroClues (formerly P3Lab) is developing cutting-edge eye-tracking technology, enhanced by AI for analysis. The device, a headset, is operated through an intuitive interface. Positioned in front of the patient's eyes, it captures a remarkable 800 infrared images per second, per eye, while the patient tracks a moving point on a screen.
Europe Eye Tracking Solutions Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
4.4 Impact of COVID-19 on the Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Rise in demand for eye tracking technologies in consumer research and advertisements
5.1.2 Surge in development activities in the contactless biometrics sector
5.1.3 Increase in investments in smart wearable technologies
5.2 Market Restraints
5.2.1 Growth in Gesture Recognition Market
6. MARKET SEGMENTATION
6.1 Soultion Type
6.1.1 Hardware
6.1.2 Software
6.2 End-User Industry
6.2.1 Retail and Advertisement
6.2.2 Automotive and Transportation
6.2.3 Media and Entertainment
6.2.4 Aerospace and Defense
6.2.5 Consumer Electronics
6.2.6 Other End-User Industries
6.3 Country***
6.3.1 United Kingdom
6.3.2 Germany
6.3.3 France
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles*
7.1.1 Tobii AB
7.1.2 Seeing Machines
7.1.3 Smart Eye AB
7.1.4 Mirametrix Inc
7.1.5 iMotions A/S
7.1.6 Ergoneers GmbH
7.1.7 Pupil Labs GmbH
7.1.8 EyeTech Digital Systems Inc.
7.1.9 Interactive Video Productions, LLC
7.1.10 PRS IN VIVO (BVA Group)
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
Europe Eye Tracking Solutions Industry Segmentation
Eye tracking is a sensor-based technology that detects a person's presence and follows what they are looking at in real time. The technology converts the movement of the eye into a data stream, which contains information like gaze point, gaze vector for each eye, and pupil position.
The scope of the report includes different types of eye-tracking solutions, such as hardware and software and their applications. The study also tracks the key market parameters, underlying growth influencers, and major vendors operating in the industry, which supports the market estimations and growth rates over the forecast period. The scope of the report encompasses market sizing and forecast for segmentation by solutions, end-user industry, and country. The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| Soultion Type | |
| Hardware | |
| Software |
| End-User Industry | |
| Retail and Advertisement | |
| Automotive and Transportation | |
| Media and Entertainment | |
| Aerospace and Defense | |
| Consumer Electronics | |
| Other End-User Industries |
| Country*** | |
| United Kingdom | |
| Germany | |
| France |
Europe Eye Tracking Solutions Market Research Faqs
What is the current Europe Eye Tracking Solutions Market size?
The Europe Eye Tracking Solutions Market is projected to register a CAGR of 17.5% during the forecast period (2024-2029)
Who are the key players in Europe Eye Tracking Solutions Market?
Tobii AB, Seeing Machines, Smart Eye AB, Mirametrix Inc and iMotions A/S are the major companies operating in the Europe Eye Tracking Solutions Market.
What years does this Europe Eye Tracking Solutions Market cover?
The report covers the Europe Eye Tracking Solutions Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Europe Eye Tracking Solutions Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Europe Eye Tracking Solutions Industry Report
Statistics for the 2024 Europe Eye Tracking Solutions market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe Eye Tracking Solutions analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
