Global Speech Generating Devices Market Is Expected To Top A Value Of US$ 550 Mn By The End Of 2031, With Sales Revenue Expected To Register A CAGR Of Around 10%

Posted on 2022-10-27 by Fact.MR in Healthcare // 0 Comments

As per Fact.MR, a market research and competitive intelligence provider, the global speech generating devices market is anticipated to top US$ 550 Mn by 2031, surging at a CAGR of 10% over the next ten years. Electronic devices that allow users to select messages to be spoken aloud are known as a speech generating devices. Speech generating devices, also known as voice output communication aids, allow people with severe speech impairments to communicate verbally.

The text and updating vocabulary of SGDs are influenced by a variety of factors, including patient needs and circumstances. Many technological advancements in electronic technology have occurred over time to make devices more user-interactive and portable. Speech generating devices help individual users with multiple input and display methods of SGDs to communicate effectively and in an easy way. Increasing availability of modern and user-friendly devices is primarily responsible for the growth of the global speech generating devices market.

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Key Takeaways from Market Study

Global speech generating devices market to top US$ 550 Mn by 2031.
Text-to-Speech devices projected to reach around US$ 140 Mn by 2031.
Synthesized speech devices projected to record above 8% CAGR over next 10 years.
Market in North America holds share of more than 50%.
Market in Canada expected to reach valuation of US$ 50 Mn by 2031.
Market in Australia to record 7% CAGR over forecast period of 2021 – 2031.

“Continuous enhancement of touchscreen devices, presence of well-established healthcare organizations, and rising adoption in special education programs, especially for those with severe communication disorders, have propelled demand for speech generating devices,” says a Fact.MR analyst.

Which Region Offers Huge Opportunity for Speech Generating Device Manufacturers?

North America is the global market leader in speech generating devices and is anticipated to stay the most dominant region, Revenue in the North America region is expected to double by 2031.

Government organizations initiating to supply speech generating devices to the students via special school policies is anticipated to increase the revenue in the region.

Growing demand for speech generating devices with dynamic displays in health care services and rising sales of picture communicator devices are other factors likely to boost the market in the region.

Increasing sales of synthesized speech devices in Russia, growing demand for text-to-speech devices in South Korea, and rising sales of picture communicators in Japan are contributing to global market growth prospects for speech generating devices and expanding opportunities for top manufacturers globally.

What is the Speech Generating Devices Demand Outlook for the U.S.?

Value of the speech generating devices industry in the United States is expected to increase 1.5X by 2031.

According to the National Institute of Deafness & Other Communication Disorders (NIDCD), nearly 7.5 Mn people in the U.S. are affected by speech-related disorders such as speaking difficulties and others.

High healthcare spending, latest innovations in speech generation by eye tracking technology, and increased government involvement are expected to drive growth of the U.S. speech generating devices market over the decade.

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Market Competition

Companies are extensively investing in research & development to come up with effective solutions for speech-related disorders. These strategies are likely to boost the growth of the market. Speech generating device manufacturers are involved with government initiations through funding and collaboration, which can help the market garner significant growth.

AAC apps in touchscreen devices and automation is used by people with communication needs as well as their caregivers. This innovative change will expand the market for speech generating devices over the decade. Top companies in the speech generating devices market are engaged in regulatory approvals, technologically advanced products, launch of new products, and acquisition & collaborative agreements with other companies to enhance their market presence.

New strategies are being adopted by key players in the market to expand their product portfolios. In addition to that, manufacturers are making relentless efforts to offer portable speech generating devices. Manufacturers of speech generating devices emphasize developing technologically advanced and innovative products by investing in research & development activities to gain a competitive advantage.

Key players:

Abilia AB
AMDi
Lingraphica
Prentke Romich Company Inc.
Saltillo Corporation
Textspeak Corporation
Tobii Dynavox
Zygo USA.
Zyteq Pty. Ltd.

Key Segments Covered in Speech Generating Devices Industry Research

Product

Speech Generating Synthesized Speech Devices
Speech Generating Text-to-Speech Devices
Speech Generating Picture Communicators

Display

Speech Generating Devices with Static Display
Speech Generating Devices with Dynamic Display

Technology

Speech Generating Through Manual Devices
Speech Generating Through Head Tracking Technology
Speech Generating Through Eye Tracking Technology

Distribution Channel

Hospitals
Specialty Clinics
e-Commerce

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Key Takeaways from Market Study

Which Region Offers Huge Opportunity for Speech Generating Device Manufacturers?

What is the Speech Generating Devices Demand Outlook for the U.S.?

Market Competition

Key Segments Covered in Speech Generating Devices Industry Research

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