Assistive Technologies For Visually Impaired Global Market Report 2024

The assistive technologies for visually impaired market size has grown rapidly in recent years. It will grow from $5.29 billion in 2023 to $6.11 billion in 2024 at a compound annual growth rate (CAGR) of 15.5%. The growth observed during the historical period can be attributed to several factors, including the rise in the aging population, increasing awareness of assistive technologies, and the implementation of government initiatives aimed at supporting individuals with visual impairments.

The assistive technologies for visually impaired market size is expected to see rapid growth in the next few years. It will grow to $10.68 billion in 2028 at a compound annual growth rate (CAGR) of 15%. The anticipated growth in the forecast period can be attributed to factors such as the increasing incidences of visual impairments and blindness, coupled with a growing demand for addressing the unmet needs of patients in this demographic. Major trends expected in the forecast period include the adoption of smart glasses with AI capabilities, advanced screen readers, the use of braille displays, and the integration of augmented reality (AR) for navigation purposes.

The anticipated rise in cases of visual impairments and blindness is set to drive the growth of the market for assistive technologies designed for individuals with visual challenges. Visual impairment and blindness encompass conditions that limit or entirely diminish an individual's ability to see, impacting vision to varying degrees. Assistive technologies play a crucial role in enhancing accessibility for those with visual impairments and blindness, offering vital support, such as braille displays, to improve navigation, access to information, and communication. As of August 2023, the World Health Organization reports a global prevalence of visual impairment affecting 2.2 billion people, with 1 billion cases being either preventable or insufficiently addressed. Refractive errors contribute to 36% of these cases, while 17% result from cataracts. Consequently, the growing incidence of visual impairments and blindness is a key driver behind the expanding market for assistive technologies tailored to the visually impaired.

Leading companies operating in the assistive technologies for the visually impaired market are actively engaged in developing products featuring innovative technology, such as AI-powered smart glasses, to enhance their market share and profitability. Smart glasses integrated with AI technology empower individuals with visual impairments to navigate and engage with their surroundings independently and confidently. In March 2022, Envision, a Netherlands-based company, introduced the Next Generation AI-empowered smart glasses designed specifically for the visually impaired. These AI-powered smart glasses offer advanced functionalities including OCR, enhanced text recognition, multi-language support, and an extensive app ecosystem for seamless integration of customized applications. They provide specialized features such as orientation and mobility assistance, both indoors and outdoors. The glasses, based on Google Glass Enterprise Edition 2, weigh less than 50g, feature an 8MP wide-angle camera, ensure 5-6 hours of continuous connectivity, and support USB-C fast charging. The incorporation of features such as facial and object recognition, color identification, scene description, and encrypted video call function enhances the autonomy of users by converting visual data into auditory cues.

In September 2022, American Thermoform Corporation, a US-based manufacturer specializing in visually impaired products, completed the acquisition of Zychem Limited for an undisclosed amount. This strategic move aims to reinforce American Thermoform's standing in the industry, enhance its capacity for product and service delivery, and expand its portfolio of offerings catering to the needs of the blind and visually impaired community. Zychem Limited, based in the UK, is known for its innovative tactile graphics solutions designed for the blind and visually impaired, along with the production of assistive products for the visually impaired.

Major companies operating in the assistive technologies for visually impaired market report are Apple, Google Inc., Plantronics Inc., Cambium Learning Group, OrCam Technologies Ltd., Vispero, Freedom Scientific Inc., Humanware Pty. Ltd., Amedia Corporation, Aira Tech Corp., LVI Low Vision International AB, Maxi-Aids, AbleNet Inc., Dolphin Computer Access Ltd., Eschenbach Optik GmbH, eSight Corporation, Zoomax Inc., Attainment Company, Ash Technologies, Boundless Assistive Technology, Eye-D, Adaptivation Inc., American Thermoform Corporation, ABiSee Inc., ViewPlus Technologies Inc., Envision AI, AI Squared Inc., Eyedaptic Inc., Access Ingenuity, Torchit.

North America was the largest region in the assistive technologies for visually impaired market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the assistive technologies for visually impaired market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the assistive technologies for the visually impaired market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The assistive technologies for the visually impaired market consist of revenues earned by entities by providing services such as audio description, accessible document conversion, orientation and mobility training, employment support, community support, and braille transcription. The market value includes the value of related goods sold by the service provider or included within the service offering. The assistive technologies for the visually impaired market also include sales of screen readers, braille displays, screen magnifiers, text-to-speech (TTS) software, and voice-controlled virtual assistants. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

Assistive technologies for the visually impaired encompass tools, devices, software, and systems specifically crafted to aid individuals with visual impairments in various aspects of their daily lives. The primary objective of these technologies is to enhance accessibility, foster independence, and provide individuals with visual disabilities the means to navigate, communicate, and access information effectively. These technologies are designed to address challenges related to reading, mobility, communication, and overall interaction with the surrounding environment.

The main categories of assistive technologies for the visually impaired include educational devices and software, mobility devices, and low vision devices. Educational devices and software consist of computer software and hardware tailored for educational purposes, with the aim of making education more effective and efficient. These technologies are distributed through various channels such as hospital pharmacies, retail pharmacies, optical stores, and online pharmacies. They are utilized by diverse end-users, including blind schools, enterprises and social organizations, individuals for personal use, hospitals, and others.

The assistive technologies for visually impaired market research report is one of a series of new reports that provides assistive technologies for visually impaired market statistics, including assistive technologies for visually impaired industry global market size, regional shares, competitors with assistive technologies for visually impaired market share, detailed assistive technologies for visually impaired market segments, market trends, and opportunities, and any further data you may need to thrive in the assistive technologies for visually impaired industry. This assistive technologies for visually impaired market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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