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The assistive technology market size is forecast to increase by USD 6.3 billion, at a CAGR of 4.5% between 2024 and 2029. Rising number of orthopedic and neurological disorders will drive the assistive technology (at) market.
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The assistive technology (at) industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.
The hospitals segment is estimated to witness significant growth during the forecast period.
Assistive technology, encompassing solutions such as accessible web design, text-to-speech software, prosthetics control systems, alternative input devices, orthopedic devices, mobility assistive devices, screen reader software, sensory integration tools, adaptive learning software, assistive robotics, wheelchair technology, hearing aids technology, speech recognition systems, augmentative communication, communication boards, environmental control systems, braille displays, visual aids technology, eye tracking technology, adaptive driving systems, assistive listening devices, adaptive gaming systems, cognitive assistive tools, and switch access technology, continues to evolve and gain traction across various industries. The education sector has witnessed significant growth, with a reported 25% increase in the adoption of assistive technology to cater to students with special needs.
Furthermore, the healthcare industry has seen a 30% surge in the implementation of these technologies to enhance patient care and facilitate rehabilitation. The manufacturing sector, too, has embraced assistive technology, with a 17% rise in the adoption of mobility assistive devices and ergonomic tools to improve workplace productivity and safety. Looking ahead, the future of the assistive technology market holds immense potential. The market is projected to expand by 22% in the coming years, with the growing awareness of disability rights and the increasing focus on inclusivity driving this growth. Additionally, advancements in technology, such as artificial intelligence and machine learning, are expected to revolutionize the way assistive technology is used and perceived.
The integration of these technologies in everyday life is becoming increasingly seamless, with assistive technology being adopted in various sectors to cater to diverse needs. From healthcare to education, manufacturing to transportation, the applications of assistive technology are endless, making it an essential tool for businesses and individuals alike.
The Hospitals segment was valued at USD 9.29 billion in 2019 and showed a gradual increase during the forecast period.
Europe is estimated to contribute 37% to the growth of the global market during the forecast period.Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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In North America, the assistive technology market is fueled by the expansion of advanced healthcare facilities, escalating healthcare expenditures, and government initiatives like Medicaid. This substantial funding ensures the provision of sophisticated products, including wheelchairs, mobility devices, and hearing aids. Regulatory bodies, such as the FDA, play a crucial role by implementing safety standards to minimize risks associated with hospital beds. The FDA's recommendations for hydraulic, manual, and powered beds are binding for manufacturers of adjustable bed-bases and bed sets, ensuring patient safety remains a top priority.
Our researchers analyzed the data with 2024 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The market is experiencing significant growth as the need for user-friendly solutions that cater to various disabilities becomes increasingly apparent. According to recent market research, the AT market is projected to reach a value of USD31.4 billion by 2027, expanding at a Compound Annual Growth Rate (CAGR) of 7.9% from 2020 to 2027. One of the key areas driving this growth is the implementation of user interface accessibility guidelines, which prioritize inclusive design principles in technology. For instance, assistive technology for dyslexia, such as text-to-speech software and dyslexia-friendly fonts, is becoming increasingly popular. Additionally, speech output communication aids, multimodal interaction techniques, and adaptive input methods for disabilities are gaining traction in both education settings and workplace environments.
Moreover, the integration of assistive technologies into everyday life is becoming more prevalent. For example, sensory regulation techniques for autism, alternative communication methods for aphasia, and computer-aided design for assistive devices are being adopted in smart homes. Accessible transportation solutions, such as wheelchair-accessible vehicles and tactile paving, are also becoming more common. Assistive technologies for visual impairments, such as screen readers and magnifiers, and those for mobility impairments, such as prosthetics and exoskeletons, are also seeing substantial growth. Furthermore, assistive technologies for hearing impairments, such as cochlear implants and hearing aids, and those for cognitive impairments, such as memory aids and cognitive training software, are essential for improving accessibility and productivity.
The evaluation processes for assistive technologies are also evolving, with a greater emphasis on user-centered design and usability testing. The integration of multiple assistive technologies is becoming more common, enabling individuals with complex disabilities to access technology more effectively. Overall, the AT market is a dynamic and growing industry that is making a significant impact on people's lives by providing innovative solutions to overcome various disabilities. According to a recent study, the speech recognition segment is expected to dominate the AT market, accounting for over 30% of the market share in 2020. This growth can be attributed to the increasing adoption of voice assistants and speech recognition software in various industries, including healthcare, education, and finance.
Furthermore, the market for assistive technologies for cognitive impairments is projected to grow at the fastest CAGR of 10.5% during the forecast period. This growth can be attributed to the rising prevalence of cognitive disorders, such as Alzheimer's disease and dementia, and the increasing awareness of the importance of early intervention and support for individuals with cognitive impairments.
The assistive technology (at) market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the assistive technology (at) market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape of Assistive Technology (AT) Industry
Companies are implementing various strategies, such as strategic alliances, assistive technology (at) market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
Boundless Assistive Technology LLC - This company specializes in providing innovative assistive technology, enabling individuals with hearing loss to effectively engage and interact with their environment. Their solutions facilitate clear communication and connection to the world.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Dive into Technavio's robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Assistive Technology (AT) Market insights. See full methodology.
Market Scope |
|
Report Coverage |
Details |
Page number |
199 |
Base year |
2024 |
Historic period |
2019-2023 |
Forecast period |
2025-2029 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.5% |
Market growth 2025-2029 |
USD 6.3 billion |
Market structure |
Fragmented |
YoY growth 2024-2025(%) |
4.3 |
Key countries |
US, Germany, Japan, UK, Canada, China, France, India, Brazil, and UAE |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
What is the expected growth of the Assistive Technology (AT) Market between 2025 and 2029?
USD 6.3 billion, at a CAGR of 4.5%
What segmentation does the market report cover?
The report segmented by End-user (Hospitals, Homecare settings, and Others), Device (Sensory aids, Mobility aids, and Others), and Geography (North America, Europe, Asia, and Rest of World (ROW))
Which regions are analyzed in the report?
North America, Europe, Asia, and Rest of World (ROW)
What are the key growth drivers and market challenges?
Rising number of orthopedic and neurological disorders, High cost of mobility products
Who are the major players in the Assistive Technology (AT) Market?
Key Companies Boundless Assistive Technology LLC, Demant AS, Freedom Scientific Inc., GF Health Products Inc., GN Store Nord AS, Invacare Corp., Karma Medical Products Co. Ltd., MED EL Medical Electronics., Medical Depot Inc., Medline Industries LP, NOVA Medical Products, Ossenberg GmbH, Ostrich Mobility Instruments Pvt. Ltd., Ottobock SE and Co. KGaA, Permobil AB, Persona Medical, Pride Mobility Products Corp., Sonova AG, Starkey Laboratories Inc., and Sunrise Medical LLC
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1 Executive Summary
2 Technavio Analysis
3 Market Landscape
4 Market Sizing
5 Historic Market Size
6 Qualitative Analysis
7 Five Forces Analysis
8 Market Segmentation by End-user
9 Market Segmentation by Device
10 Customer Landscape
11 Geographic Landscape
12 Drivers, Challenges, and Opportunity/Restraints
13 Competitive Landscape
14 Competitive Analysis
15 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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