+91-8668442535

Language Translation Devices Market By Product (Handheld, Wearable) By Type (Online Translation, Offline Translation) By Distribution Channel (Online Platforms, Retail Stores) - Growth, Share, Opportunities & Competitive Analysis, 2016 - 2028

The global Language Translation Devices Market report explores the critical analysis of the language-translation devices industry using key parameters. The report consists of investment strategies, the need for investments in the language translation devices industry, and the multiple benefits for the investors. Importantly, this report sets out major changes in the language translation devices industry's global technical regulations and how economic and non-economic barriers are helping the market grow. Moreover, the report examines historic and forecasted market sizes at the global, regional, and country levels. The report also examines key investment propositions, the demand and supply gap, SRC analysis, competitor positioning, STAR analysis, and Tornado analysis. Key technological advancements and other analyses, including Porter's Five Forces, Value Chain, PESTEL, etc.

language-translation-devices-market

Key Highlights of the report

How are the major segments performing in the Language Translation Devices Market?

The handheld segment led the market in terms of products in 2021 and is expected to continue throughout the projection period. The rise of medical tourism has fueled the expansion of handheld devices across borders and in non-native language-speaking nations, directly influencing the language translation device market. As a result, industry trends in the medical tourism segment are influencing manufacturers' customer services and product offerings.

The online translation type segment dominated the global market in 2021 owing to the expansion of the internet and connected devices and the consequent rise in demand for online translators. Some online translators can translate words and phrases in Klingon, the Star Trek television series, and other languages. Growing consumer demand for online translation will drive market growth over the forecast period.

The online platforms segment led the market in distribution channels in 2021, which is expected to continue throughout the forecast period. Online sales growth can be attributed to a broader product selection than retail stores. It facilitates accessibility and convenience when making a purchase. Additionally, due to the discounts vendors offer to promote their products, prices on the internet are lower than those in physical stores. The online channel also provides low-cost bundled services. It allows customers to provide feedback.

Which region dominated the Language Translation Devices Market?

The Asia Pacific region dominated the global market for language translation devices in 2021 due to the expanding use of translation technologies in the region's developing economies. Due to substantial investments in healthcare infrastructure facilities and the unprecedented growth of medical tourism, especially in countries like India, China, Japan, Taiwan, the Philippines, and Thailand, the region has a significant potential for market growth. A sharp increase in the number of foreign language-speaking outbound international travelers and a rising travel trend is also driving the market in the region. The region is further boosting global growth in the language-translation devices business owing to investors' large investments in tools and technology to improve productivity in their businesses. Additionally, this region provides BPO services to numerous non-English speaking regions, which raises the demand for international products.

What is the competitive environment of the Language Translation Devices Market?

There are only a few major international players in the market for language translating devices. Regarding price differentiation and technological advancements, the market is extremely competitive. Vendors are investing in R&D to improve translation devices' quantity, quality, technology, services, and costs. Additionally, the already-established international players are increasing their investments to guarantee ongoing, customer-centric product innovation, which is anticipated to drive the market for language-translating devices in the upcoming years. For instance, Fujitsu launched a wearable language translation device for hospital staff that can translate into English, Japanese, and Chinese allowing hospital staff and foreign patients to communicate in real-time. On the other hand, R. R. Donnelley & Sons Company launched MultiTrans in 2019. MultiTrans is a cutting-edge modular solution that manages, secures, automates, and audits your multilingual communications process, bringing value to every stage from authoring to publishing.

Executive Summary

What are all technical developments being developed in the Language Translation Devices Market?

The growing trend of bringing your own devices, the persistent rise in the complexity of technology innovations, the rise in digital information, the need to secure it, the flexibility to meet custom requirements, and a continuous increase in reliance on heterogeneous networks are some of the key factors for increasing demand for language-translation devices. With the substantial investments made by investors in tools and technology to improve productivity in their businesses, the market is experiencing a rise in demand. The emergence of cutting-edge technology in these devices impacts product creation, development, sales, marketing, and aftermarket. Artificial intelligence and machine learning technology with language translation devices is expected to drive market growth. Several companies have recently introduced advanced language translation devices and technologies. For instance, LanguageLine Solutions introduced LanguageLine Personal Interpreter to the global market in 2021. Personal Interpreters are the ideal language access solution for companies, businesses, organizations, or individuals who require immediate, short-term, or long-term interpretation in or out of the office. Access our 9,000 professionally trained interpreters, fluent in over 240 languages, from any phone, at any time, 24/7.

Which are the key investments by the players in the Language Translation Devices Market?

The market has seen a significant increase in revenues due to increased investments in the internet of things (IoT), artificial intelligence (AI), and the availability of real-time language translation functionality. Approximately 80% of industry participants invest in AI in the language and speech translation market, with over 30% planning to increase their AI investments during the forecast period. Waverly Labs, Bragi, Mymanu, Logbar, and Travis are among the leading companies that incorporate and implement AI technology in their products. For instance, Mayo Clinic collaborated with Raffles Medical Group in Singapore. Cleveland Clinic invested and opened a hospital in Abu Dhabi. John Hopkins Hospital opened in Singapore and Anadolu Medical Center in Turkey. Moreover, the growing popularity and awareness of wearable and handheld language translating devices in Latin America have fueled the global language translating device market.

Some of the major players in the market are Jarvisen (iFLYTEK), Sourcenext Inc (Pocketalk), Cheetah Mobile Inc, Waverly Labs Inc, Vasco Electronics LLC, and Timekettle.

What are the Major Driving Factors for the Language Translation Devices Market?

The rise in travel and tourism activities, including leisure and vacations, propels the language translating devices market forward. Moreover, growing cross-border medical tourism is one of the primary factors driving the language translating devices market growth. The medical tourism market has impacted language device manufacturers' product offerings and created new opportunities for global and local companies, propelling the global market forward.

What are the Major Risks for the Language Translation Devices Market?

Low demand from developing countries and the high cost of translation device services may impede market growth during the forecast period. However, the lack of quality and accuracy of output in some language translation devices may impede market expansion. Costs may increase due to the device's inaccurate content translation, reducing consumer demand. Another factor impeding the growth of the global language translation devices market is a lack of awareness about the features of language translation device systems.

Which is the key Product in the Language Translation Devices Market?

In terms of product, the handheld segment led the market in 2021, and this trend is expected to continue throughout the forecast period. Numerous companies are developing innovative pocket translators with advanced and intelligent language translation features. Over the forecast years, the demand for handheld services will significantly increase by rising innovations from major players. The expanding medical tourism has significantly impacted the market for language translation devices across borders and in non-native language-speaking nations. As a result, manufacturers are impacted by the medical tourism market's market dynamics in product offerings and customer services. Some of the top handheld device vendors were incorporating SMT and RBMT for language translation and collaborating with language translating software solutions like iTranslate or Microsoft Translate to provide real-time language translation, giving the language translating devices market dominance.

How is the Language Translation Devices Market performing in regions?

The Asia Pacific dominated the global language translation devices market in 2021 and is expected to continue this dominant position over the forecast period. Due to the significant investments made by investors in tools and technology to increase productivity in their businesses, this region is enhancing the global growth of the language-translation devices industry. The demand for international goods and services is also rising owing to this region's BPO services being provided to numerous non-English speaking regions. The region has a sizable potential for market expansion due to significant investments in healthcare infrastructure facilities and the unprecedented rise in medical tourism, particularly in nations like India, China, Japan, Taiwan, the Philippines, and Thailand. The market in the region is also being driven by a sharp rise in the number of outbound foreign-language-speaking international travelers.

Besides, North America is expected to grow the most during the forecast period due to significant technological advancements in developed economies such as the United States and Canada. In addition, real-time language translation services are now more widely available, and IoT and AI investments are increasing, both of which are significant revenue generators for the regional market. End-users in the region are increasingly choosing vacations and non-business travel. As a result, opportunities for smart and simple language translation devices abound in the region. The growing demand for regional language translation software and services may also be fueled by the technology's increased use of portable devices like tablets and smartphones.

What is the regulatory landscape for the Language Translation Devices Market?

Effective communication can be achieved using a common language or language intermediaries. Global businesses use language translation intermediaries for practical reasons. Given the increasing importance of effective communication with customers, employees, partners, and officials in the target market, translation companies' services are in high demand from private and government organizations. The rule-based machine translation (RBMT) process uses linguistic data from the source and target languages. It is most commonly used in the development of grammar dictionaries and programs. As it uses parallel language machine translation, transfer-based machine translation, and dictionary-based machine translation technologies, this type of machine translation is widely used by many end-use industries, including government, education, BFSI, IT and telecom, healthcare, and others. The adoption of AI and IoT is accelerated by increased government digitization initiatives and the growing use of high-speed network connectivity. As the use of AI-based translation solutions increases, this is leading to a surge in demand for devices that can be customized to meet market demands.

What is the Market Size of the Language Translation Devices regarding value?

The global language translation devices market is anticipated to grow at a substantial CAGR of 9.5% in the upcoming years. The global language translation devices industry was estimated to be worth USD 924.1 million in 2021 and was expected to be worth USD 1592.95 million by 2028.

What are the major players planning for the future of the Language Translation Devices Market?

Artificial intelligence advancements and improved pairing with translation algorithms are likely to result in improved real-time language translation devices that feed translated speech to the user with negligible or no visible lag. Real-time language translation capabilities are essential for increasing product acceptance among consumers. Soon, the convergence of smart wearables augmented hearing and language translating solutions is expected to gain traction. The increase in international travel, the hospitality industry, urbanization, and medical tourism are all expected to bode well for the market. Several IT companies have been working on real-time devices and applications for language translation. They are working on real-time language translation capabilities that can be used with or without networks. The most well-known language translators for mobile applications are Microsoft, Google, iTranslate, WayGo, SayHi, Speak & Translate, TripLingo, and Papago. With the rising demand for language translating devices, market players are expected to benefit from lucrative growth opportunities in the future. For instance, Lionbridge Technologies Inc. provides language translation and localization services. Along with accurate on-demand translation services, it also provides socially relevant translations. Additionally, self-service and a cloud-based delivery model are being developed.

Segmentation of Global Language Translation Devices Market -

Global Language Translation Devices Market – By Product

  • Handheld
  • Wearable

Global Language Translation Devices Market – By Type

  • Online Translation
  • Offline Translation

Global Language Translation Devices Market – By Distribution Channel

  • Online Platforms
  • Retail Stores

Global Language Translation Devices Market – By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • Germany
    • France
    • The U.K.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • South-east Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of the Middle East and Africa

Frequently asked questions about the global Language Translation Devices Market

The language translation devices market also suffered from the COVID-19 pandemic, which resulted in a decline of over 5.1% in revenue generated in 2020.

The Asia Pacific accounted for the highest share in the global language translation devices market regarding value and volume.

The rise in travel and tourism activities, such as vacations and leisure travel, is increasing the global demand for high-quality devices. Moreover, increased cross-border medical tourism is one of the major factors driving the significant growth of the language translating devices market.

The handheld language translation devices segment had a major share in 2021, with more than 65% of the market revenue. Besides, wearable language translation devices are projected to witness the fastest growth.

Online platforms had a major share in the global market in 2021 and are projected to continue their dominance over the forecast period.

Language Translation Devices Market Scope

Report Attribute Details
Market Value in 2021 USD 924.1 million
Market Value in 2028 USD 1592.95 million
CAGR 9.5%
Benchmarking Year 2021
Past data 2016 – 2021
Forecast period 2022 – 2028
Choose License Type
Budget Buying
Executive Summary - Brief Global Market Size - Current & Forecast
Regional Market Size - North America
Country Market Size - US
Company Profile – 1
Trusted By
Godaddy
Published Date:  Sep 2022
Category:  Technology & Media
Report ID:   60663
Report Format:   PDF
Pages:   120
Rating:    4.3 (30)
Delivery Time: 24 Hours to 48 Hours   
Connect With Us
+91-8668442535
24/7 Research Support