The global assistive technologies demand for visually impaired market was evaluated at approximately US$ 7 Bn in 2020. Proliferation of reading assistance technologies are major growth levers of the market. Fact.MR projects the global market to expand at robust CAGR of approximately 8.6% CAGR over the forecast period (2020-2026).
“Technological innovations such as text-to-speech output, Be My Eyes, Dot Smartwatch, and Wayband are aiding the growth of assistive technologies demand for visually impaired market. Further, rising visual impairment incidents and elderly population are supporting the market growth,” states the Fact.MR analyst.
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Key Findings
- Educational devices & software segment will hold 3/5th share in the overall market stack in terms of product type.
- Demand for mobility devices will gather major impetus through the projection period.
- North America will lead the assistive technologies demand for visually impaired market through 2026.
- Asia Pacific market will register stellar growth at approximately 9.4% CAGR over the forecast period.
Key Driving Factors
- Easier access and greater adoption of advanced devices will boost market growth in North America through 2026.
- The education sector in developing countries of Asia Pacific is promoting the usage of mobility devices, magnifiers, braille translators.
- Greater healthcare expenditure is contributing significantly to market growth.
- Growing investments in education sector by both private and public institutes is escalating the assistive technologies demand for visually impaired.
Key Restraints
- Lack of greater access in emerging countries is a major growth limiting factor.
- Fewer opportunities for employment and education for visually impaired people living in poverty reduce the possibility of greater adoption.
Impact of COVID-19 on Assistive Technologies Demand for Visually Impaired Market
The healthcare domain is one of the worst affected industries in the wake of COVID-19 pandemic. Disruptive supply chain amid widespread lockdown is slowing the growth of assistive technologies demand for visually impaired market. The downward trend is projected to continue through later half of 2020.
Moreover, the hospitals across the world are swamped with COVID-19 patients because of whom patients in need of other medical assistance are unable to receive the necessary attention. As a result, assistive technologies demand for visually impaired market has taken a backseat. However, the market is projected to improve through first half of 2021 as the pandemic subsides.
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Competitive Landscape
Some of the key players profiled in this Fact.MR study include, but are not limited to, HumanWare Group, Access Ingenuity, Dolphin Computer Access Ltd., Amedia Corporation, and VFO Group. Product launches and product promotions are chief strategies of top players in the global assistive technologies demand for visually impaired market. For instance, technologies such as EasyReader, Whiteboard Wizard, and Connect & Learn are being promoted by Dolphin Computer Access Ltd. Moreover, others assistive technologies such as learning disabilities software, screen magnification, screen reading, braille displays, and low vision magnification solutions are being offered by Access Ingenuity. Hence, market leaders will continue to prioritize technological innovation for indubitable competitive advantage.
About the Report
This 170-page study offers in-depth commentary on the assistive technologies demand for visually impaired market. The study provides compelling insights on the assistive technologies demand for visually impaired market on the basis of product type (educational devices & software, mobility devices, low vision devices), end-users (blind schools, enterprises & social organizations, personal use, federation & hospitals) across five regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).
Press Release: https://www.factmr.com/media-release/1396/global-assistive-technologies-demand-for-visually-impaired-market