Increasing trend of travel and tourism activities and growing demand of such devices from corporate sector are the leading factor driving the language translation device market during the projected period.
According to TechSci Research report, “Language Translation Device Market – Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F”, The global language translation device market size is expected to grow faster during the forecast period, due to the increasing significance of translation in everyday lives with the rising trend of travelling. The multicultural and multilingual world is reaching a point where a clear and efficient communication between languages and cultures is required. Language translation devices are widely used in business meetings, language classes within schools, and hospitals to communicate with people with different spoken languages, due to which all can benefit from the translation devices.
Furthermore, growing medical tourism has fueled the expansion of handheld language translation devices globally and also in non-native language speaking countries, significantly influencing the language translation devices industry. As a result, market dynamics in the medical tourism category are influencing manufacturers’ product offerings and customer service.
Through the use of translation devices, one will be able to engage with people on more effective level. Moreover, the language translation devices industry is undergoing massive technical modifications, which are collectively driving the language translation device sales around the world.
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A translating device is compact, easy to carry, and is powered by a rechargeable battery which is inbuilt within the translator. Furthermore, language translation devices are available in the form of earbuds that require a smartphone to connect an individual to another person making it possible to carry on conversations while performing activities. For instance, WT2 Language Translator is two wireless earpieces type of translator, which can be connected via Bluetooth, to the mobile. The WT2 understands 40 different languages, including Arabic, Greek, and Cantonese. It also understands 93 different accents and has a translation accuracy of 95%.
The increased popularity of online sales can be attributed to a wider variety of product options than retail stores. It provides ease-of-accessibility and convenience when making a purchase. Thus, North America and Europe mostly prefer online platforms to buy language translation devices as they give a broad platform for comparing product pricing and features. This is also a factor which is driving the language translation devices market.
The global language translation device market is segmented based on product type, type, operating type, end user, and distribution channel.
The market is divided into one way translation and two-way translation, based on product type. Among them, the two-way type has a significant share in the market due to the advantages like ease of conversation, etc., associated with these types of translation.
Based on operating type, the market is fragmented into online and offline translation devices, among which online translation segment has a significant share which can be attributed to the growth of internet and connected devices’ increased demand in the market.
Based on the distribution channel, the market is divided into retail, online, and non-retail. Among them, the online segment is growing gradually during the forecast period. The increased popularity of online sales can be attributed to a wider variety of product offerings when compared with retail stores. It offers ease of use and convenience while making a purchase.
The market analysis also studies the regional segmentation to devise regional market segmentation, divided among North America, Europe, Asia-Pacific, South America, and Middle East & Africa. Among them, the language translation device in the Asia Pacific is leading the region due to significant investment in healthcare infrastructure and unprecedented development in medical tourism, particularly in countries like China, Japan, the Philippines, Taiwan, Thailand, and India.
Key market players in the global language translation device market include:
- Vasco Electronics LLC
- Sourcenext Inc. (Pocketalk)
- Waverly Labs Inc.
- iFLYTEK Co., Ltd.
- Shenzhen Space Pot Technology Co., Ltd.
- Cheetah Mobile, Inc.
- Fujitsu Limited
- Xiaomi Corporation
- BRAGI GmbH
- CEH Tech LTD.(Mymanu)
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“The primary factors propelling the market growth over the forecast period will be the rise in demand for smart wearable devices such as language translation devices. Furthermore, the market is being driven by a rising trend of travel and tourism for leisure as well as business purposes. being the primary factors fueling and likely to further contribute to the market growth of the language translation device market globally during the forecast year.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Language Translation Device Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Product Type (One Way Translation, Two Way Translation), By Type (Handheld, Wearable), By Operating Type (Online, Offline), By End User (Individual, Commercial), By Distribution Channel (Retail, Online, Non-Retail), By Region, Competition”, has evaluated the future growth potential of language translation device in the global market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the market of language translation device, globally.
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