Assistive Technology Demand for Visually Impaired Market to Derive Above US$ 4 Bn Incremental Opportunity from Sales of Educational Devices and Software
Wayband, Dot Smartwatch to be Frontrunners, Pushing Sales of Assistive Technology for Visually Impaired at 8.6% through 2026
Fact.MR’s latest market study covers recent developments in the global assistive technology demand for visually impaired market. These include trends, opportunities, and threats expected to influence growth in the next five years. The study offers insights into segments including product type and end users across seven regions. It also highlights key growth strategies used by market players to improve sales.
Fact.MR – A Market Research and Competitive Intelligence Provider: As per a Fact.MR study, the global assistive technology demand for visually impaired market is slated to expand at 8.6% CAGR, with the market valuation surpassing US$ 7.17 Bn over the forecast period between 2020 and 2026.
Increasing incidence of eye-related disorders such as glaucoma, cataract, age-related macular degeneration, refractive error, and diabetic retinopathy is spurring the demand for technologically advanced and user-friendly assistive devices for the visually impaired.
In 2021, the World Health Organization (WHO) reported that nearly 2.2 billion people are suffering from near or distance vision impairment. Leading causes of visual impairment are untreated cataracts and refractive errors.
People suffering from visual impairment are primarily above the age of 50. However, vision impairment can affect individuals of all ages. This has resulted in higher focus on research and development to develop effective assistive technology and mobility devices for visually impaired, which, in turn, is spurring sales in the market.
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Rising adoption of devices such as tactile toys, braille slates, and styluses for writing in the educational sector and home settings is expected to fuel sales of assistive technology for visually impaired.
As per Fact.MR’s in-depth regional analysis, demand for assistive technology for visually impaired is expected to continue rising in North America. Increasing investments in the education sector, along with easy availability of assistive technology software and mobility devices will continue driving sales in North America.
“The introduction of novel assistive technologies such as Wayband, Be My Eyes, and Dot smartwatch is expected to create lucrative opportunities for players operating in the global assistive technology demand for visually impaired market. Besides this, collaborations among market players and technology research institutes will continue augmenting growth of the market over the forecast period,” says a Fact.MR analyst.
- Revenue generated from sales of educational devices and software is poised to surpass a valuation of US$ 4.122 Mn by 2026.
- Demand for mobility devices is expected to rise at a robust 8.8% CAGR through 2026.
- Driven by high adoption of technologically advanced devices and easy availability of products, the North America market will account for 2/5th of the total assistive technology demand for visually impaired market share.
- The Asia Pacific region will emerge as a lucrative pocket with sales growing at a healthy 9.4% CAGR.
- Increasing adoption of technology-driven tools and assistive devices for educational purposes will continue driving sales of assistive technology for visually impaired.
- Increasing government investments in spreading awareness and promoting adoption of digital assistive devices for visually impaired is expected to fuel sales.
- Stringent regulations regarding approval of technology-driven assistive devices might hamper sales.
- High costs associated with sensor-enabled mobility devices might limit sales of assistive technology for visually impaired.
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Leading players operating in the global assistive technology demand for visually impaired market are focusing on research and development in collaboration with technology research institutes to launch new and innovative products in the market. Besides this, mergers, acquisitions, and collaborations will remain among lucrative growth strategies adopted by players over the forecast period.
For instance, California-based Access Ingenuity offers various assistive technology solutions comprising low vision magnification systems, screen reading, braille displays, screen magnification, and learning disabilities software.
Key Players in the Assistive Technology Demand for Visually Impaired Market Include:
- VFO group
- Amedia Corporation
- Dolphin Computer Access Ltd
- HumanWare Group
- Cambium Learning and Access Ingenuity
More Valuable Insights on Assistive Technology Demand for Visually Impaired Market
Fact.MR provides an unbiased analysis of the assistive technology demand for visually impaired market, presenting historical demand data (2014-2019) and forecast statistics for the period from 2020-2026. The study divulges compelling insights on the global assistive technology demand for visually impaired market with a detailed segmentation on the basis of:
- Educational Devices & Software
- Braille Duplicators & Writers
- Braille Computers
- Mathematical & Science Devices
- Reading Machines
- Mobility Devices
- Low Vision Devices
- Smart Glasses
- VTS Link
- Magnifying Lenses
- Blind Schools
- Enterprises & Social Organizations
- Personal Use
- Federation & Hospitals
- North America
- Latin America
- East Asia
- South Asia
Key Questions Covered in the Assistive technology demand for visually impaired Market Report
- The report offers insight into assistive technology demand for visually impaired market demand outlook for 2020-2026.
- The market study also highlights projected sales growth for assistive technology demand for visually impaired market between 2020 and 2026.
- Assistive technology demand for visually impaired market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry.
- Assistive technology demand for visually impaired market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others.
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