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Friction Modifier Additives Market By Type (Organic Friction Modifiers, Inorganic Friction Modifiers), By Application (Transportation Lubricants, Industrial Lubricants) - Growth, Future Prospects & Competitive Analysis, 2018 – 2026

Industry Outlook

The market for assistive technologies for the visually impaired is expected to reach US$ 6,979.5 million by 2026, up from US$ 3,497.5 million in 2017, at a compound annual growth rate (CAGR) of 8.0% from 2018 to 2026. As per the latest research cited by the International Agency for the Prevention of Blindness (IAPB), approximately 36 million people throughout the globe are blind. In-depth studies have noted that around 217 million people have severe to moderate visual impairments and desperately need assistive technologies for their care and support.

The global eye health sector has understood the needs of blind people and likewise has manufactured devices to aid the visually impaired population. There has been a drop in the prevalence rate from 4.58% in the 1990s to 3.8% in 2015. It is important to note that the prevalence rate of blindness varies depending on the availability of eye care and socioeconomic factors among countries.

Market Synopsis

Mobility devices will be the fastest-growing segment on account of technological advancement and better ergonomic design.

Braille scripts are widely used by blind people to understand literature; traditionally, they were written on embossed paper. Currently, braille scripts are available on computer screens and on other refreshable braille displays and writers. Companies such as Amedia Corporation and BAUM Retec AG are providing braille displays, electronically magnifying vision aids, and reading devices for the implementation of the electronically available information in braille scripts and speech output. Mobility devices are set to register impressive growth during the forecast period on account of an increase in donations and charities helping the visually impaired with better mobile devices to improve their quality of life and perform ambulatory activities independently. Better operational efficiency, navigation, and excellent ergonomic designs propel the mobility device market.

Increased funding and awareness campaigns for visual impairment have resulted in the rapid growth of blind schools throughout the globe.

Healthcare agencies and nonprofit organizations (NGOs) throughout the globe have been providing large funds for awareness campaigns and assistance to fight visual impairment throughout the globe. In the last two decades, there has been a rise in the enrollment of visually impaired students in blind schools. Braille scripts in the form of writers, printers, computers, and other standalone devices are provided in blind schools to improve the education and quality of life of blind students. Growing awareness of visual impairment among citizens due to proactive social media and digital platforms has resulted in increased usage of mobile devices and low-vision devices for personal use. The availability of a diverse range of products pertaining to standalone devices and software to assist with visual impairment drives the personal use market globally.

The growing prevalence of visually impaired people, as well as the emergence of local players, are driving market growth in the Asia Pacific.

With a 39% market share, North America currently dominates the market for assistive technologies for the visually impaired. The factors responsible for the dominance of North America are the well-developed healthcare infrastructure and the technological advancement in the devices and software to help the visually impaired population. Germany is a pioneer in technology and is actively engaged in designing new software for braille printers and writers. The rising prevalence of eye disorders and proactive social organizations cater to the needs of the visually impaired population in Europe. Asia Pacific accounts for one-third of the global visually impaired population on account of dire eye health conditions in the middle and low-income countries of the Asia Pacific region. The emergence of local players poses serious competition to key players in Asia Pacific who provide braille-enabled devices and software.

Periods of History and Forecast

This research report presents the analysis of each segment from 2016 to 2026, considering 2017 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments is calculated for the forecast period from 2018 to 2026.

Report Scope by Segments

A quantitative market analysis was conducted to determine the market estimation and compounded annual growth rate (CAGR) for assistive technologies for the visually impaired market. The segments are broken down by product, end users, and geography.

The market assessment was performed by employing organic and inorganic growth strategies to determine the prevailing trends in assistive technologies for the visually impaired. The products segment provides an in-depth analysis of the technological advancements occurring in devices. The percolation of these devices for the visually impaired population in different strata of society is studied in the end-user segment. The competitive landscape is determined by the existing competition among device manufacturers. In the product portfolio segment, the different types of devices and software to assist the visually impaired are briefly covered. The key players providing assistive technologies for the visually impaired population are Amedia Corporation, Access Ingenuity, American Thermoform, BAUM Retec AG, Cambium Learning, Dolphin Computer Access Ltd., Humanware Group, Nippon Telesoft, LVI Low Vision International, VFO.

Key questions are answered in this report.

  • Who are the key players providing assistive technologies and devices to the visually impaired population?
  • What are the compounded annual growth rate and market estimation for the assistive technologies market for the visually impaired?
  • What are the latest technological advancements in educational devices and low-vision devices?
  • What are the organic and inorganic growth strategies currently prevalent in the market for assistive technologies for the visually impaired?
  • Which is the leading and fastest-growing product segment in the assistive technologies market for the visually impaired?
  • Which is the leading and fastest-growing end-user segment in the assistive technologies market for the visually impaired?
  • Which is the leading and fastest-growing regional segment in the assistive technologies market for the visually impaired?

Frequently Asked Questions:

The market for Friction Modifier Additives Market is expected to reach US$ XX Bn by 2026.

The Friction Modifier Additives Market is expected to see significant CAGR growth over the coming years, at 3.5%.

The report is forecasted from 2018-2026.

The base year of this report is 2017.

Amedia Corporation, Access Ingenuity, American Thermoform, BAUM Retec AG, Cambium Learning, Dolphin Computer Access Ltd., Humanware Group, Nippon Telesoft, LVI Low Vision International, VFO. are some of the major players in the global market.

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Published Date:  Sep 2018
Category:  Chemicals
Report ID:   59350
Report Format:   PDF
Pages:   120
Rating:    4.4 (66)
Delivery Time: 24 Hours to 48 Hours   
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