Digital Accessibility Software Market Poised for USD 880.6 Billion by 2030, Fueled by Rising Adoption of Mobile and Web Applications
Mar 2024
ICT-IOT
As per the report published by Kings Research, the global Digital Accessibility Software Market was valued at USD 538.3 million in 2022. The market is projected to reach USD 880.6 million by 2030, growing at a CAGR of 6.49% from 2023 to 2030.
The growth of the digital accessibility software industry is primarily driven by the increasing demand for digital accessibility solutions. As businesses and organizations recognize the importance of inclusivity and equal access to digital content, the need for effective accessibility software continues to rise. However, the lack of standardization in digital accessibility guidelines is expected to impede market growth. The absence of uniform guidelines and standards across different regions and industries creates inconsistency in implementing accessibility measures.
Key Insights
- Based on type, website accessibility software is the fastest-growing segment and is expected to progress at a CAGR of 7.11% over the forecast period
- Based on application, the large enterprises segment acquired the largest market share of 59.66% in 2022
- Based on region, Asia-Pacific is expected to grow at the highest CAGR of 8.21% through the review timeline
CivicPlus Acquires Monsido to Enhance Digital Governance Solutions for Customers
June 2022: CivicPlus acquired Monsido to capitalize on Monsido’s expertise in digital governance and web accessibility to offer improved solutions for its customers
AudioEye Acquires Square ADA to Offer Improved Accessibility Solutions
February 2022: AudioEye acquired Square ADA and launched new web accessibility technology for the users. The acquisition allowed both companies to expand their offerings of accessibility solutions, enabling Squarespace users to create accessible websites easily.
Rising Adoption of Mobile and Web Applications to Drive Market Growth
With the increasing dependence on digital devices, the demand for accessible mobile and web applications is growing. This trend is creating opportunities for digital accessibility software developers to provide integrations that enhance the accessibility and usability of such applications, contributing to overall market growth.
Limited Awareness and Understanding of Digital Accessibility to Hinder Market Growth
Many companies may not be fully aware of the importance of accessibility or the potential impact of excluding individuals with disabilities from their digital platforms. Without a clear understanding of the benefits and legal requirements of digital accessibility, organizations may overlook the need for accessible software solutions. This lack of awareness is likely to impede market growth by limiting the demand for digital accessibility software.
Evolving User Needs and Preferences in the Digital Landscape Pose Challenges to Industry Progress
As technology advances and user expectations evolve, the demand for more sophisticated and user-friendly accessibility solutions grows. Software developers must keep pace with these changing needs and preferences, constantly innovating and improving their offerings. Failure to meet user expectations may result in decreased adoption and hinder market growth. Adapting to evolving user needs and preferences is vital to ensure the continued relevance and success of digital accessibility software in the dynamic digital landscape.
Asia-Pacific to Dominate Digital Accessibility Software Market Through 2030
The Asia-Pacific region is set to dominate the digital accessibility software market, primarily driven by several key factors. The region boasts a rapidly growing population, providing a substantial consumer base for digital accessibility solutions. The increasing penetration of the internet among the populace is further fueling the demand for software that ensures accessibility for all users.
The Asia-Pacific region is witnessing a surge in the number of technology software manufacturers, fostering innovation and competition in the digital accessibility software market. These factors make the Asia-Pacific a key market for digital accessibility software, poised for significant growth and advancements in the coming years.
Increasing Focus On Strategic Mergers and Acquisitions to Fuel Market Growth
The global digital accessibility software market is fragmented with significant players in the market, such as Accessibe Inc., Userway Inc., Audioeye, Inc., Level Access, Monsido, Inc., Siteimprove A/S, Usablenet Inc., Equalweb Ltd., Fable Group Inc., Equally.ai, and other. These firms are working on expanding their business through effective collaboration and partnership strategies.