Assistive Technologies for Visually Impaired Industry Is Forecasted To Reach US$ 14.4 Billion by 2033, Opines Fact.MR

Assistive technologies demand for visually impaired market is slated to record around 9% CAGR in 2021, with a recent study projecting to surpass an estimation of US$ 7.1 Bn by 2026. Technological progressions, together with adequate R&D, has prompted a notable expansion in assistive technologies.

Furthermore growing geriatric population, increasing instance of visual impairment and surge in healthcare expenditure shall amplify the demand for assistive technologies for the visually impaired. On the back of these aspects, Fact.MR, a global research & consulting firm, in the updated edition of the report, indicates that the market shall grow robustly amid the assessment period 2020-2026.

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"Growing adoption of computerized technology in mobility and education are projected to demonstrate prolific growth in the future. Hence, new product launches with technological progressions constitute the key strategy of key market players. " says Fact.MR.

Role of Tech Advances

Assistive technology for the visually impaired has transmuted radically in the recent years. Launch of modern technology has conveyed noteworthy changes in several fields. These progresses have offered new prospects for visually impaired people to get by their disability. Presentation of electronic mobility aids, for instance, e Ray & UltraCane to help blind people in identifying obstacles are noteworthy technological developments. As a result of this, the demand for assistive technology for visually impaired market is poised to record prolific growth in the coming years.

Will Educational Devices & Software Influence Assistive Technologies for Visually Impaired?

Educational Devices & Software are projected to hold around 60% of the overall market share. The segment shall reach an estimation of US$ 4.1 Bn toward 2026. This is qualified to increment in expenditure on education by private and public educational institutions. Growing adoption of devices such as tactile toys that emit sound for stylus for writing, braille slate and pre-academic learning, are some examples of expenditure on assistive technologies.

On the other hand, mobility devices will gain noteworthy traction amid the forecast period. Anticipated CAGR for the category is slated at impressive 9% in 2021, as well as exceeding an estimation of US$ 1 Bn towards 2026 end. Presentation of new technologies such as Be My Eyes, Dot Smartwatch and Wayband are prominent drivers for the proliferation of this category.

Competitive Landscape

Leading suppliers of assistive technologies for the visually impaired are focusing on launching new products that allow visually disabled people to enjoy all aspects of life just like normal people.
• In March 2023, Sony, a leading Japanese multinational organization, announced the launch of a new camera kit that is designed for visually impaired people. The new DSC-HX99RNV camera kit comes with a unique viewfinder and a compact camera.

Market Titans

• LS&S LLC
• Amedia Corporation
• Cambium Learning
• ViewPlus
• Dolphin Computer Access Ltd.
• VFO
• American Thermoform
• LVI Low Vision International
• HumanWare Group
• Access Ingenuity

Product Launches & Product Promotions Remain Prime Focus Areas: Fact.MR Survey

Assistive technologies demand for the visually impaired market is extremely fragmented owing to the presence of handful players having their footprint in the market. Fact.MR's survey with thought leaders discovered that product launches and product promotions constitutes a key strategy for market players in 2021 & beyond.

The updated edition of the report provides comprehensive coverage of the projected to remain the key strategies of market players. A few of the players profiled in the report are Amedia Corporation, VFO Group, Dolphin Computer Access Ltd, HumanWare Group and Access Ingenuity. The updated edition also offers a detailed analysis of the COVID-19 impact on this market.

Industry Research Segments

• By Product :

o Educational Devices & Software
 Braille Duplicators & Writers
 Braille Computers
 Mathematical & Science Devices
 Reading Machines
 Others
o Mobility Devices
 Canes
 Others
o Low Vision Devices
 Smart Glasses
 VTS Link
 Magnifying Lenses
 Others
o Others

• By End User :

o Blind Schools
o Enterprises & Social Organizations
o Personal Use
o Federations & Hospitals
o Others

• By Region :

o North America
o Latin America
o Europe
o APAC
o MEA

How Big is the Opportunity for Market Players in the US?

Increased adoption of cutting edge devices and easy access are significant factors contributing to increasing market share of the US. Estimated market share for North America amid the assessment period is estimated at about 40% of the overall assistive technologies demand for visually impaired industry.

The UK and Germany will record the second highest market share, however, China, India, Brazil, Japan, South Korea and other South Asian economies are still in an introductory phase. According to Fact.MR's new study, these regions are projected to provide significant growth prospects for the assistive technology devices amid the assessment period, owing to entrance in these regions by prominent players, presence of large population, and rising disposable incomes.

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This release was published on openPR.