Post by account_disabled on Oct 22, 2023 0:15:40 GMT -5
According to projections from Coherent Market Insights , the global assistive technology market will reach $26 billion by 2024 , nearly double the $14 billion in 2015. Zion Market Research is even more optimistic about the sector's trajectory, with a estimated US$31 billion in 2024 and an annual growth rate of 7.4%.
Regardless of the exact number, analysts agree that this industry will grow rapidly in the coming years. And what is behind this increase? What’s in store for assistive technology in the near future?
After all, what is Assistive Technology?
Assistive technology is any product or device designed to improve Brother cell phone list the quality of life and independence of people with disabilities . Some of the most common assistive technologies are:
Wheelchairs, walkers and canes
Hearing aids
Accessibility software, such as Hand Talk
Prosthetics to replace lost limbs and other body parts
As computers and smartphones have become an essential part of daily modern life, many devices are focused on improving access to these technologies. There are also several accessibility tools and assistive technologies available for using computers or browsing the internet.
Why is this market growing?
Globally, more than 1 billion people , or 15% of the world's population, have some type of disability and the prevalence is higher in developing countries. They face significant challenges in their daily lives, such as access to education, employment and adequate healthcare. The goal of assistive technology is to remove these barriers as much as possible and improve the quality of life for people with disabilities .
The World Health Organization estimates that by 2030, 2 billion people will need access to at least one assistive technology , and many will require two or more. However, currently only 1 in 10 people with disabilities have access to the assistive technologies they need.
What's new in the area of assistive technology?
Bridging the gap between the demand and availability of assistive technologies will be a significant challenge, both now and in the future. The good news, however, is that new products and new companies are already emerging to address this challenge in a variety of ways.
Startups like Whill , OrCam Technologies , Kinova Robotics , Hand Talk , and Livox have raised more than $200 million in funding and investment for their assistive technology products:
Whill produces electric personal mobility vehicles that allow people with physical disabilities to more easily navigate and move through the world around them.
OrCam makes wearable artificial intelligence devices for people with visual impairments, using computer vision techniques to read text and identify faces and objects.
Kinova produces a variety of robotic arms for personal and industrial use, including the JACO assistive robot for people with physical disabilities.
Hand Talk has a virtual translator called Hugo, which, using Artificial Intelligence, translates text content into Sign Language, used by most deaf people, whether through an app or a plugin for websites.
Livox is alternative communication software for tablets, which helps in the development of communication and the learning process for people with a disability that makes speech impossible.
With tens of billions of dollars in projected value by 2024, assistive technology is essential for innovation and disruption in a market that is already helping many people achieve things they would never be able to do without the use of technology.
Regardless of the exact number, analysts agree that this industry will grow rapidly in the coming years. And what is behind this increase? What’s in store for assistive technology in the near future?
After all, what is Assistive Technology?
Assistive technology is any product or device designed to improve Brother cell phone list the quality of life and independence of people with disabilities . Some of the most common assistive technologies are:
Wheelchairs, walkers and canes
Hearing aids
Accessibility software, such as Hand Talk
Prosthetics to replace lost limbs and other body parts
As computers and smartphones have become an essential part of daily modern life, many devices are focused on improving access to these technologies. There are also several accessibility tools and assistive technologies available for using computers or browsing the internet.
Why is this market growing?
Globally, more than 1 billion people , or 15% of the world's population, have some type of disability and the prevalence is higher in developing countries. They face significant challenges in their daily lives, such as access to education, employment and adequate healthcare. The goal of assistive technology is to remove these barriers as much as possible and improve the quality of life for people with disabilities .
The World Health Organization estimates that by 2030, 2 billion people will need access to at least one assistive technology , and many will require two or more. However, currently only 1 in 10 people with disabilities have access to the assistive technologies they need.
What's new in the area of assistive technology?
Bridging the gap between the demand and availability of assistive technologies will be a significant challenge, both now and in the future. The good news, however, is that new products and new companies are already emerging to address this challenge in a variety of ways.
Startups like Whill , OrCam Technologies , Kinova Robotics , Hand Talk , and Livox have raised more than $200 million in funding and investment for their assistive technology products:
Whill produces electric personal mobility vehicles that allow people with physical disabilities to more easily navigate and move through the world around them.
OrCam makes wearable artificial intelligence devices for people with visual impairments, using computer vision techniques to read text and identify faces and objects.
Kinova produces a variety of robotic arms for personal and industrial use, including the JACO assistive robot for people with physical disabilities.
Hand Talk has a virtual translator called Hugo, which, using Artificial Intelligence, translates text content into Sign Language, used by most deaf people, whether through an app or a plugin for websites.
Livox is alternative communication software for tablets, which helps in the development of communication and the learning process for people with a disability that makes speech impossible.
With tens of billions of dollars in projected value by 2024, assistive technology is essential for innovation and disruption in a market that is already helping many people achieve things they would never be able to do without the use of technology.