Global Assistive Technologies for Visually Impaired Market by Product (Educational Devices and Software, Mobility Devices, Low Vision Devices), End User, Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025
Newark, NJ, Jan. 30, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global assistive technologies for visually impaired market is expected to grow from USD 3.40 billion in 2017 to USD 6.57 billion by 2025 at a CAGR of 8.74% during the forecast period 2018-2025.
Assistance for people with vision impairment has transformed in recent years with the advancement in the technologies. In the past years, the main option for visually impaired people for vision assistance was magnifying lenses. Today's tools include not only better magnification devices, but also software, apps, and other products that use audio or tactile, rather than visual, feedback. Assistive technologies for people with vision impairment or blindness may include video magnifiers, braille printers, and braille watches, and other devices for writing and reading with low vision. Growing awareness of visual impairment among the citizens, due to media and other social platforms, has resulted in driving the demand for assistive technologies for the visually impaired market.
Assistive technologies devices are used to improve and maintain the functional abilities of people with vision impairment. Assistive technology equipment includes standalone devices, hardware, or software. For visually impaired people, several types of assistive technologies are available in the market to address different conditions. These devices are manufactured to support learning & academic aids, mobility aids, and others. They enable visually impaired people to become self-dependent for various day to day activities. Devices that make them independent, comfortable, and easy are classified as assistive technologies.
Global assistive technologies for visually impaired market is expected to witness rapid growth over the forecast period, owing to Increase in awareness about assistive technologies for visually impaired and technological advancements. In addition to this, the key contributing factor for the market growth is growing cases of visual impairment and blindness, rise in elderly population and government initiatives to promote quality of life are some of the factors driving the growth of the market. However, high costs associated with data acquisition systems and inefficient and unskilled workforce are anticipated to hinder the market growth, over the forecast period.
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Key players operating in the global assistive technologies for visually impaired market include Cambium Learning, Access Ingenuity, VFO, Dolphin Computer Access Ltd., Amedia Corporation, HumanWare Group, Access Ingenuity, LVI Low Vision International, VisionCue, TQM, Eurobraille, Brailletec, BAUM Retec, and OrCam among others. To enhance their market position in the global assistive technologies for visually impaired market, the key players are now focusing on adopting the strategies such as recent developments, mergers & acquisitions, product innovation, joint venture, collaborations, and partnership.
- For instance, in 2017, OrCam announced the launched OrCam MyEye, a blind assistive technology device. This device requires very simple commands to operate device’s camera which can view products, text and communicates what it “sees” to the user via a mini earpiece.
- In the January 2018, VFO and Enhanced Vision, announced the merger to create the world’s largest assistive technology provider for the visually impaired.
The educational devices & software expected to grow with the highest CAGR of 10.09% in the forecast period
The product segment is classified into educational devices and software, mobility devices, low vision devices. The educational devices & software segment dominated the global assistive technologies for visually impaired market and expected to grow with the highest CAGR of 10.09% in the forecast period. Rise in demand for braille and reading machines and increase in government awareness programs in developing economies are expected to fuel the growth of the segment during the forecast period are major contributing factors for the growth of the segment.
The enterprises & social organizations segment held the largest share of 43.61% in 2017
End user segment includes enterprises and social organizations, federation and hospital, blind schools, and personal use. The enterprises & social organizations segment held the largest share of 43.61% in 2017. Rise in corporate social responsibilities and increasing funds are likely to drive the enterprises & social organizations segment during the forecast period. Non-profit organization and many healthcare agencies across the globe have been providing the large funding for the awareness campaign and assistance to fight visual impairment throughout the globe.
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Regional Segment Analysis of Assistive Technologies for Visually Impaired Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
The regions analysed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. . North America region dominated the global assistive technologies for visually impaired market with USD 1.57 billion in 2017. North America region held the largest share of the market due to increase in per capita health care expenditure and increasing number of visually impaired population. These are some of the factors, which are boosting the growth assistive technologies for visually impaired market in North America region. Asia Pacific is the fastest growing region due to the increasing disposable income of people in developing economies such as China and India is enabling them to avail better health care facilities and likely to boost the market growth. Moreover, the growing awareness of people about advanced technologies, further fuelling the growth of market. In addition to this, rising prevalence of eye disorders and proactive social organization caters the need of visually impaired population in Europe.
About the report:
The global assistive technologies for visually impaired market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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