Speech Generating Devices (SGD) Market REPORT OVERVIEW
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The global speech generating devices market size was USD 283.2 million in 2022 and market is projected to touch USD 576.49 million by 2031, exhibiting a CAGR of 8.2% during the forecast period.
The sudden spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
Electronic devices that allow the user to choose the message that will be delivered aloud are called speech-generating devices. As voice output communication aids, speech-producing devices are often referred to. These tools make it easier and more effective for those who have trouble speaking to others verbally to communicate. All users are said to benefit greatly from it.
The category of electronic devices known as "speech producing devices" enables the user to choose the message that will be delivered aloud. Voice output communication aids are another name for speech-generating equipment. These tools make it easier and more effective for people with limited language contact to communicate. It is seen as a huge benefit for all users.
COVID-19 Impact: Disrupted Supply Chains Lead to Lower the Market Demand
Covid badly affected the speech generating devices market due to supply chain disruptions and shortage in raw materials was also observed. Shortage of labor and strict protocols such as lockdowns and restrictions on movement created roadblocks, disruptions in end-use sectors of the product led to lower demand.
LATEST TRENDS
"Technological Advancements in Electronic Devices to Augment the Market Demand"
A static display speech generating device can be used by people who have cognitive, communicative, or speech difficulty. To communicate a message to a person, these overlay devices may contain words, characters, or graphics. You may expand your vocabulary selections by using a variety of overlays with various devices for each language type. Over the course of the forecast period, market expansion is anticipated to be fueled by the development of static display devices, government funding for special education programs for children with impairments, and increased demand for static display voice production equipment.
Speech generating gadgets will become more and more popular as a result of significant technological advancements in electronic devices and an extended spectrum of problem diagnostics. For instance, MiniTalk, a speech generator, was introduced by Lingraphica. For persons with apraxia of speech and aphasia, a gadget with a 7-inch screen with 7,000 realistic symbols, phrases, and other functions is available.
Speech Generating Devices (SGD) Market Segmentation
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- By Type Analysis
By type, market is segmented into fixed display devices and dynamic display devices. The fixed display devices segment will dominate the market in the coming years.
- By Application Analysis
Based on applications, the market is classified into aphasia and non-aphasia. The aphasia segment will lead the global share through 2031.
DRIVING FACTORS
"Text – to – Speech Technologies to Boost the Market Growth"
The variety of frequently used text-to-speech technologies is expanding in line with the steadily growing need for digitalization and convenience. Text-to-speech technologies minimize the need for users to read long user manuals and guides by providing voice commands and instructions instead. The material is difficult for those with dyslexia or other reading difficulties to understand. They might not understand the letters, so they continue to be obscure to them. By converting the text into an audio format and making it simpler to interpret, text-to-speech technology aids these individuals.
"The Light weight and Compact Touch Screens to Push the Market Growth"
The portability and simplicity of speech generators are results of ongoing technical advancements. The effectiveness, productivity, sensitivity, and specificity of these new technologies have benefitted persons with speech impairments. The lightweight, compact touch screen interface now offers more convenience. There could be additional chances for participants in the global speech producing devices market as a result of recent trends in voice generation devices and technical advancements in touch screen devices.
RESTRAINING FACTORS
"High- Cost Involvement to Impede the Market Growth."
The high cost involved in creating or utilizing these gadgets undoubtedly slows the expansion of the market. Several market participants invest a lot of money in putting in new, cutting-edge machinery to speed up the process, but the cost goes up as a result.
Speech Generating Devices (SGD) Market REGIONAL INSIGHTS
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"North America to Hold the Highest Global Retailer Turnstile Market Share."
Due to increased government funding for the distribution of speech-generating devices to kids through unique school regulations, North America is expected to dominate the market throughout the projected period. Due of the expanding number of speech impairments in this region, Europe is thought to be experiencing the most lucrative moment.
KEY INDUSTRY PLAYERS
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.
List of Market Players Profiled
- Tobii Dynavox (U.S.)
- Prentke Romich Company (U.S.)
- ZYGO-USA (U.S.)
- Abilia Toby Churchill (UK.)
- Saltillo Corporation (U.S.)
- Lingraphica (U.S.)
- Attainment Company (U.S.)
- Jabbla (Belgium)
- Monroe Wheelchair (U.S.)
REPORT COVERAGE
The market research study examines the worldwide market in detail, focusing on important elements such as leading players, product/services or type, and leading end-use applications. Aside from that, the research analyses major advancements and provides insights into lighting market trends. In addition to the causes indicated above, the paper includes a number of other factors that have contributed to recent growth.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 283.2 Million in 2022 |
Market Size Value By |
US$ 576.49 Million by 2031 |
Growth Rate |
CAGR of 8.2% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the speech generating devices market expected to touch by 2031?
Over the research period, the speech generating devices market will be reaching USD 576.49 million in 2031.
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What CAGR is the speech generating devices market expected to exhibit by 2031?
The speech generating devices market is expected to exhibit a CAGR of 8.2% by 2031.
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Which are the driving factors of the speech generating devices market?
Text- to- speech technology and compact design are some of the driving factors of the speech generating devices market.
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Which are the top companies operating in the speech generating devices market?
Saltillo Corporation, Lingraphica, Attainment Company, Jabbla and Monroe Wheelchair are some of the top companies operating the speech generating devices market.