Global assistive technologies for visually impaired market is expected to reach USD 3,400.56 Million in 2017 to USD 6,570.89 Million by 2025 at a CAGR of 8.74% from 2018 to 2025. The key contributing factor for the market growth are 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.
Assistive technologies are devices, which are used to improve and maintain functional abilities of people with vision impairment. Assistive technology equipment include standalone devices, hardware, or software. Several types of assistive technologies are available in the market for visually impaired to address different conditions. These devices are manufactured to support mobility aids, learning & academic aids, and others. They enable people to become self-dependent for various day to day activities. Devices which make them comfortable, independent and easy are classified as assistive technologies. According to the United Nations (UN) report, the global population aged 60 years or over was around 962 million in 2017. It is expected to reach 2,100 million by 2050. Increase in the geriatric population is propelling the demand for assistive technologies for visually impaired people.
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- The base year for the study has been considered 2017, historic year 2015 and 2016 and, the forecast period considered is from 2018 to 2025. The assistive technologies for visually impaired market is analysed on the basis of value (USD Million).
- The study delivers a comprehensive analysis of global assistive technologies for visually impaired market by product, end-user, and regions.
- The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2018 to 2025.
- Porter’s Five Forces model is used in order to recognize the competitive scenario in the global assistive technologies for visually impaired market. This report incorporates the industry analysis which is focused on providing an extensive view of the assistive technologies for visually impaired market.
- The study also includes attractiveness analysis of product, end-user and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
- The report provides company profile of the key players operating in the assistive technologies for visually impaired market and a comparative analysis based on their business overviews, product offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
- The market estimates have been evaluated by considering the effect of different political, economic, social, technological and legal factors which are based on our extensive secondary research, primary research, and in-house databases.
- Increase in awareness about assistive technologies for visually impaired and technological advancements
- Rise in elderly population
- Surge in government initiatives to promote better facilities
- Stringent regulatory requirements
- Increase in income and disabled populations
- High cost associated with the products
Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. North America region held the largest market share of approximately 43.62% in 2017. Rising awareness, technological advancements and increasing per capita health expenditure are some of the factors that are unravelling new opportunities for the growth of market in this region.
Key eminent market players 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, Humanware and others. Rising technological advancements and involvement of key players taking initiatives with acquisition and mergers are expected to drive the assisted reproductive technology industry. For instance, in 2017, OrCam, launched OrCam MyEye 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.
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