Global Assistive Technologies for Visually Impaired Market Size Revenue To Hit Nearly $13.2 Billion By 2030 - ZMR Report

The global assistive technologies for visually impaired industry size was nearly $3.9 billion in 2021 and is set to increase to about $13.2 billion by 2030 with a CAGR of nearly 13.8% between 2022 and 2030.

Assistive technologies are the hardware or software tools that are used by visually impaired persons for performing daily activities such as walking, writing, reading, and others. Reportedly, there is a large number of low-tech visual aids such as touch watches, video magnifiers, walking aids, glasses, braille books, and a smartphone with large buttons that can help visually impaired elders in performing routine tasks. Moreover, assistive technologies help visually impaired people in reading printed material as well as surf the web with the use of screen readers and screen magnifiers.

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The growth of the global assistive technologies for visually impaired industry over the forecast timespan can be attributed to a rise in healthcare spending by various governments and massive demand for assistive technologies by visually impaired people across the globe. In addition, easy access to assistive technologies and their availability in emerging economies will also promote global market trends. Moreover, industry players are adding new user-friendly features to assistive technologies and products, thereby further contributing to the global market demand. Growing demand for addressing the unmet needs of the patient will further boost the expansion of assistive technologies for visually impaired market across the globe.

Nonetheless, a lack of awareness about the benefits offered by advanced assistive technologies for visually impaired such as smart-phone based assistive technologies can pose a threat to the expansion of the global market. Apart from this, huge costs of assistive technologies for visually impaired owing to an increase in taxes and import duties as well as a rise in costs of raw materials can decimate the demand for assistive technologies for visually impaired, thereby creating hurdles in the path of the global market surge. However, innovations in braille computer screens are projected to create new growth opportunities for the global market.

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The global assistive technologies for visually impaired market are divided into product type, end-user, and region.

On the basis of product type, the global assistive technologies for visually impaired industry are sectored into mobility devices, educational devices & software, and low vision devices. Furthermore, the educational devices & software segment is expected to lead the segmental growth over the assessment period. The growth of the segment over 2022-2030 can be credited to a prominent demand for user-friendly educational devices & software by visually impaired students for purpose of studying, learning, and easily grasping educational concepts provided in the course contents.

Based on the end-user, the global assistive technologies for visually impaired market are segmented into blind schools, personal use, enterprises & social organizations, and federations & hospitals. Moreover, the enterprises & social organizations segment is predicted to make lucrative contributions to the size of the assistive technologies for visually impaired market over the next eight years. The segmental growth can be attributed to the large-scale purchase of assistive technologies and products by enterprises & social organizations for donating to the visually impaired employees and visually impaired persons for improving their work efficiency & quality of life.

North America to dominate the growth of the global assistive technologies for the visually impaired industry over the forecast timeframe owing to an increase in the number of people affected due to low vision issues caused as a result of chronic diseases and viral infections. Apart from this, the rise in the geriatric population prone to eye disorders has opened new growth dimensions for the regional market. In addition, the easy availability of improved healthcare amenities in countries such as the U.S. and Canada and the presence of giant players in these countries will contribute substantially towards the growth of assistive technologies for the visually impaired market in North America.

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Recent Developments:

In November 2022, Lighthouse Guild, a U.S.-based charitable organization, and Bionic Sight LLC, a tech firm in the business of developing neuro- prosthetics devices interacting with the nervous system, joined hands for exploring new treatment alternatives for blind people. For the record, Bionic Sight's advanced technology for blindness focuses on restoring the sight of visually impaired people who are in an advanced phase of blindness due to retinal degeneration. The move is aimed at transforming the lives of visually impaired people in the U.S. through the launching of new therapies for treating visually impaired people and adopting new approaches and exploring new ways to make the life of visually impaired people comfortable.

In December 2022, Thales Bank launched a voice payment card for visually impaired people. The move is aimed at helping visually impaired people perform their financial transactions accurately. The initiative will encourage other fintech firms & institutions in introducing new assistive technologies for visually impaired, thereby helping them in carrying their financial transactions in a safer & secure way and with ease & efficacy.

Key participants profiled in the global assistive technologies for visually impaired industry include:

Cambium Learning Group
American Thermoform Corporation
AbleNet Inc.
LVI Low Vision International AB
Amedia Corporation
Access Ingenuity
Dolphin Computer Access Ltd.
Adaptivation Inc.
Nippon Telesoft Co. Ltd.
HumanWare Group
VFO.

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The global assistive technologies for the visually impaired market are segmented as follows:

By Product Type

Educational Devices & Software
Mobility Devices
Low Vision Devices

By End User

Blind Schools
Enterprises & Social Organizations
Personal Use
Federations & Hospitals

By Region

North America
The U.S.
Canada
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of the Middle East & Africa

FREQUENTLY ASKED QUESTIONS
Which key factors will influence assistive technologies for visually impaired market growth over 2022-2030?
What will be the value of the assistive technologies for visually impaired market during 2022-2030?
Which region will contribute notably towards the assistive technologies for visually impaired market value?
Which are the major players leveraging the global assistive technologies for visually impaired market growth?

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