The global assistive technologies for visually impaired market was valued at US$ 3.5 Bn in 2020 and it is estimated to expand at a CAGR of 13.7% from 2021 to 2031. The global assistive technologies for visually impaired market is expected to exceed the value of US$ 13.9 Bn by the end of 2031.
Innovations in Braille Computers Help Expand Market Share
Braille computers are generating stable revenue streams for participants in the assistive technologies for visually impaired market. Moreover, users who cannot see their computer screens have the option of screen readers. Companies are increasing their research in this segment, since this software is able to describe images on the screen using alt text and read web pages with text to speech technology.
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In case a user prefers the tactile experience of reading braille over listening to a voiceover, braille displays can be attached to the computer. Such innovations are translating into revenue opportunities for stakeholders in the assistive technologies for visually impaired market.
COVID-19 Crisis Highlights Importance of UN Sustainable Development Goals Standards
It has been found that the COVID-19 pandemic has had a catastrophic impact on users of assistive technology (AT) across the globe. Such findings are affecting the growth of the assistive technologies for visually impaired market. Market stakeholders are gaining cognizance about these findings and increasing efforts to establish strong user-centered development of funding policies.
Companies in the assistive technologies for visually impaired market are increasing the availability of braille devices, mobility products, and information communication technologies during the ongoing pandemic. They are taking efforts to meet standards set by the UN Sustainable Development Goals and the requirements highlighted in the Convention on the Rights of Persons with Disabilities. Market players are focusing on meeting the needs of minority groups already living with health inequities.
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Lack of Understanding about Smartphone-based Assistive Technologies Affects Market Growth
The theoretical definition of AT needs to come to reality in order to counteract challenges that advanced societies will face in the upcoming years such as population aging. In order to tide over these challenges and be future-ready, participants in the assistive technologies for visually impaired market are increasing their R&D in ehealth and computer based systems.
Smartphone-based assistive technologies hold promising potentials for people with visual impairment. However, lack of awareness and understanding of the beneficial aspects of smartphone-based assistive technologies are affecting market growth. Hence, companies should develop more innovative and readily accessible user-friendly mobile technology and accessible apps.
AI Backpacks Notify Wearers of Obstacles via Bluetooth Earbuds
The introduction of AI (Artificial Intelligence) backpack is ushering significant changes in the assistive technologies for visually impaired market. AI is helping visually impaired individuals to navigate independently. Market stakeholders should collaborate with researchers to develop backpacks integrated with AI software, a GPS module, and a 4K camera. They should increase R&D in computer vision to innovate in backpacks that are embedded with an AI camera to view the wearer’s surroundings.
Companies in the assistive technologies for visually impaired market are taking cues from these innovations to develop backpacks that work with a laptop or a computer to notify the wearer of signs or obstacles via Bluetooth earbuds.
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Electronic Books & Low Vision Apps Storming Market Landscape
Apart from braille computers and AI backpacks, companies in the assistive technologies for visually impaired market are unlocking revenue opportunities in audiobooks and electronic books to expand revenue streams. Reading machines are being replaced with audiobooks such as Audible and electronic books, including Kindle that allow individuals with low vision to adjust the content’s text size and customize contrast of the page.
An increasing number of startups are tapping revenue opportunities in the assistive technologies for visually impaired market. Low vision apps and software are storming the market to help individuals with visual impairment to easily navigate on-screen.
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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