Objective: The objective of this study was to characterize the dynamics of real-time lexical access, including lexical competition among phonologically similar words, and semantic activation in school-age children with hearing aids (HAs) and children with cochlear implants (CIs). We hypothesized that developing spoken language via degraded auditory input would lead children with HAs or CIs to adapt their approach to spoken word recognition, especially by slowing down lexical access.Design: Participants were children ages 9-12 years old with normal hearing (NH), HAs, or CIs. Participants completed a Visual World Paradigm task in which they heard a spoken word and selected the matching picture from four options. Competitor items were either phonologically similar, semantically similar, or unrelated to the target word. As the target word unfolded, children’s fixations to the target word, cohort competitor, rhyme competitor, semantically related item, and unrelated item were recorded as indices of ongoing lexical and semantic activation.Results: Children with HAs and children with CIs showed slower fixations to the target, reduced fixations to the cohort, and increased fixations to the rhyme, relative to children with NH. This wait-and-see profile was more pronounced in the children with CIs than the children with HAs. Children with HAs and children with CIs also showed delayed fixations to the semantically related item, though this delay was attributable to their delay in activating words in general, not to a distinct semantic source.Conclusions: Children with HAs and children with CIs showed qualitatively similar patterns of real-time spoken word recognition. Findings suggest that developing spoken language via degraded auditory input causes long-term cognitive adaptations to how listeners recognize spoken words, regardless of the type of hearing device used. Delayed lexical activation directly led to delayed semantic activation in children with HAs and CIs. This delay in semantic processing may impact these children’s ability to understand connected speech in everyday life.