The global assistive technologies for visually impaired market is projected to achieve a considerable valuation in the next few years of the given forecast period. In last few years, the eye health sector across the globe has been giving prime importance to the requirements and demands of blind people and has hence led to increased production of different devices for the aid of visually impaired people. With the constant advancements in technology, more and more assistive technologies for visually impaired are coming in market for the betterment of lives of these people. The global assistive technologies for visually impaired market is projected to reach a valuation of US$7,100 mn by the end of 2026. This growth is driven by an impressive CAGR of 8.5% during this forecast period of 2018 to 2026. Initially the global market was valued at US$3,400 mn in the year 2017.
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Product Development Key for Market Players
The global assistive technologies for visually impaired market features a fragmented landscape due to the presence of several key players. These leading companies in the global market are constantly striving for increasing their user base with the help of new technologies and products. Naturally, the competition in market quite high and is working in favor of the development of the global market. For instance, In August 2017, Humanware Group announced that the company has launched a new addition to its flagship explor? line that includes explor? 3, explor? 5, and the latest explore 8. These are new and more powerful portable handheld magnifier.
Some of the leading companies in the global assistive technologies for visually impaired market include names such as VFO, LVI Low Vision International, Nippon Telesoft, Humanware Group, and Dolphin Computer Access Ltd. among others.
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There are several reasons behind the fast-paced development of the global assistive technologies for visually impaired market. One of the biggest reasons behind the market growth has been the initiatives undertaken by the healthcare agencies, non-profit organizations, and the NGOs operating across the globe for the betterment of life of visually impaired people with the help of technology. With the growing awareness and assistance campaigns undertaken by these organization, the spread of the assistive technologies for visually impaired market has been growing at a rapid pace. This has thus been the key driving factor for the development of the global assistive technologies for visually impaired market.
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North America to Remain as Leading Segment
The global assistive technologies for visually impaired market has five main regions that provide the reader with the intricate details of the working dynamics of the regional landscape. These regions are North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Of these, currently, the global assistive technologies for visually impaired market is expected to be dominated by the regional segment of Asia Pacific. The regional segment is projected to showcase an impressive CAGR of 9.5% during the mentioned period of forecast.