Mar 20, 2020
Assistive Technologies Demand for Visually Impaired Market to Register Impressive Growth, to Surpass US$ 7,170.2 Mn by 2026
by Team Fact.MR
Technological advancements, combined with adequate research and development, has led to a significant development in assistive technologies. The introduction of electronic mobility aids like Ray and UltraCane have led to incredible developments in the assistive technologies for visually impaired market.
Driven by these technological advancements, the assistive technologies demand for visually impaired market is projected to grow impressively, registering a CAGR of 8.6% during the forecast period (2020-2026). Other drivers, such as increasing geriatric population, rising cases of visual impairment and increase in healthcare expenditure shall also augment the demand for assistive technologies for the visually impaired. On this premise, the market is expected to surpass a valuation of US$ 7,170.2 Mn by the end of 2026.
Key Takeaways of Assistive Technologies Demand for Visually Impaired Market Study
- Product-wise, the educational devices & software segment shall constitute the maximum share of the assistive technologies demand for visually impaired market. Projections indicate a market share of around 58%. This is due to increased spending on education by public and private entities.
- Mobility devices are expected to catch up, owing to introduction of new technologies such as Wayband, Dot Smartwatch and Be My Eyes. The segment shall expand at a CAGR of 8.8% during the forecast period.
- Regionally, the assistive technologies demand for visually impaired market shall be dominated by North America. High adoption of technologically advanced devices and easy access by people are cited as key reasons. Projections indicate a market share of approximately 40%.
- Asia-Pacific shall exhibit remarkable progress during the forecast period. The region shall surpass a valuation of US$ 1,649.2 Mn by the end of 2026. Increased adoption of technological devices in the educational sector such as braille translators, reading machines, magnifiers and mobility devices are considered key drivers propelling the market growth.
“The assistive technologies demand for visually impaired market demonstrates prolific growth in the future. Rising adoption of computerized technology in education and mobility are expected to leverage prospects for the market,” infers a Fact.MR analyst.
Product Launches to Shape Assistive Technologies Demand for Visually Impaired Market Landscape
New product launches with technological advancements constitute the main strategy of key market players. Dolphin Computer Access Ltd, a British company, is set to promote its Connect & Learn, Whiteboard Wizard and EasyReader technologies at the upcoming VIEW 2020 Conference in Birmingham, Ireland. Consisting of Qualified Teacher of the Visually Impaired (QTVI) driven innovations, these platforms shall aim to provide quality education to low-vision learners. Similarly, Access Ingenuity provides technology solutions in the form of vision enhancing products like large print keyboards. These keyboards, titled ZoomText and Keys-U-See, provide large-sized alphabets to assist people with poor vision. The second invention, Victor Reader Trek, provides audio recordings of books to help readers enjoy the reading experience.
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The research study on the Assistive Technologies Demand for visually impaired market by Fact.MR incorporates an unbiased assessment of key factors and trends responsible for shaping the landscape of the Assistive Technologies Demand for Visually Impaired market over 2020-2026. It includes a detailed assessment of key parameters that are anticipated to exert influence during 2020-2026. Market statistics have been presented on the basis of product type (Educational Devices & Software, Mobility Devices, Low Vision Devices and Others) and end users (Blind Schools, Enterprises & Social Organizations, Personal Use, Federation & Hospitals and Others) across five major regions.
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