Global Electronic Translators Market Overview:
Tiny portable devices that translate words from one language to another are known as electronic translators. They are intended for both visitors and businesspeople. The device will scan words and translate them into English or the local language, depending on how it is made. Artificial Intelligence is used by electronic translators to process words and translate them into a new language. The most advanced devices can accept up to 170 languages and can receive data in a number of formats. Simple words and phrases are easily translated using electronic translators. Electronic translators, like any other electronic system, have a range of designs and construction methods.
As per latest study released by AMA Research, the Global Electronic Translators market is expected to see growth rate of 10.0%Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
The Use of AI to Translate Speech in Real-Time
Market Growth Drivers:
The Rising Number of International Tourist, An Increase in Demand for Non-English Languages and Increase in Products and Services from Non-English Countries Reaching Foreign Markets
Challenges:
The Lack of Awareness among the Underdeveloped Countries
Restraints:
Complexities in Maintaining Operational Consistency and Reliability
Opportunities:
The Technological Advancements in Electronic Translators Devices and The Emerging Demand from Developed As Well As Developing Nations
Competitive Landscape:
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are Logbar Inc. (Japan), Ectaco (United States), Travis (Denmark), Vasco-electronics (United States), iFLYTECK (China), Lingo (United States), Weifang safire international trade Co., Ltd (China), Hainan Two Monkeys Technology (Shenzhen) Co. (China) and SourceNext (Japan). Analyst at AMA Research see United States and Chinese Players to retain maximum share of Global Electronic Translators market by 2030. Considering Market by Category, the sub-segment i.e. Compilers will boost the Electronic Translators market. Considering Market by Distribution Channel, the sub-segment i.e. Offline will boost the Electronic Translators market.
Latest Market Insights:
in October 2023, Google acquired AI startup Lingo Systems, which specializes in machine translation technology. This acquisition could potentially impact the landscape of electronic translation in the past year.
On November 21, 2023, Google released an update to its Pixel Buds Pro earbuds, adding support for real-time translation in 40 languages. This update expands the language capabilities of Google's popular translation earbuds.
What Can be Explored with the Electronic Translators Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Electronic Translators Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Electronic Translators
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Electronic Translators market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Electronic Translators market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Electronic Translator Devices Manufacturers, Electronic Translator Devices Sub Component Manufacturers, Electronic Translator Devices Traders/Distributors, Electronic Translator Devices Importer/Exporter, Technology Investors, Downstream Vendors and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.