市场调查报告书
商品编码
1446350
语言翻译设备市场评估:按产品类型、翻译类型、应用、营运、最终用户、分销管道和地区划分的机会和预测(2017-2031)Language Translation Devices Market Assessment, By Product Type, By Type of Translation, By Application, By Operation, By End-user, By Distribution Channel, By Region, Opportunities and Forecast, 2017-2031F |
全球语言翻译设备市场规模将从 2023 年的 12.1 亿美元增长到 2031 年的 24.8 亿美元,在 2024-2031 年预测期内复合年增长率为 9.4%。.
准确的语言翻译功能使这些小工具受到各种用户的欢迎,从游客到专业人士,包括旅行者。 除了克服语言障碍之外,它还有许多其他好处。
近年来,语言翻译技术的使用迅速增加,促进了不同语言的人之间的交流。 这些设备有多种形式,包括便携式电子设备和可下载并连接到平板电脑和智慧型手机的行动应用程式。 包括语音辨识技术在内的强大功能可让使用者直接对着装置说话,并将他们的话快速翻译成目标语言。
全球化与旅游业推动市场成长
随着出国旅行和全球化,对优秀语言翻译设备的需求正在迅速增加。 这些设备有助于消除语言障碍,从而促进更轻鬆的沟通并改善旅游、医疗保健、酒店和商业等各个领域的用户体验。 随着网路和全球化使人们更加紧密地联繫和融合,语言翻译设备正在有效地消除来自不同背景的人们之间的语言和文化障碍。
技术进步和人工智慧的引入正在推动市场成长
人工智慧的技术进步正在塑造语言翻译设备的功能。 持续的进步使得准确的翻译成为可能,并提高了使用者对这些设备的采用率。
线上语言翻译设备推动市场成长
与离线语言翻译设备相比,线上语言翻译设备占据了更大的市场份额。 这一优势是由于线上语言翻译设备为消费者提供了即时、无缝的翻译。 这些翻译设备可以让使用者轻鬆快速地将短语和单字翻译成外语,打破所有语言障碍,轻鬆顺畅地相互沟通。
本报告调查了全球语言翻译设备市场,提供了市场定义和概述、市场规模趋势和预测、各个细分市场和地区的详细分析、行业结构以及影响市场成长的因素。我们编制分析、案例研究、竞争景观、主要公司简介等等。
Global language translation devices market has reached a value of USD 1.21 billion in 2023 and is anticipated to reach USD 2.48 billion by 2031, projecting a CAGR of 9.4% during the forecast period 2024-2031. Due to their precise language conversion capabilities, these gadgets are growing in popularity among a variety of users, including all sorts of travellers, from tourists to professionals. They can be advantageous in a variety of other ways in addition to aiding with linguistic barriers.
In recent times, there has been a significant surge in the usage of language translation technologies, which has facilitated communication between those who speak different languages. These devices can be found in many different forms, such as portable electronics and mobile apps that can be downloaded and connect to tablets or smartphones. Users may talk straight into the devices and have their words quickly translated into the target language due to their superior features, which include voice recognition technology.
Key market players offer various options catering to different consumer preferences. The availability of distinct features further fuels the market's growth. The market is expanding due to the adoption of mobile phones and other devices in different regions and the incorporation of language translation software to overcome the language barrier challenge. Language translation is becoming one of the practical and widely available technologies.
Japan based electronics manufacturer, Kyocera Corporation, launched a transparent screen, Cotopat in August 2023, which translate speech into on-screen text in real time for travelers. The product was for foreign travellers and regional governments, without resorting to smartphone apps or other devices. It offers a user-friendly interface with a display system which has been tested extensively by Kyocera. It understands spoken words in the real-time and provides a display of the translated text, including the corresponding live subtitles. Currently, the device can translate into six languages, namely, Japanese, Traditional Chinese, Simplified Chinese, English, Korean, Portuguese, and Vietnamese.
Due to growing globalization, technology breakthroughs, and demand for efficient multilingual communication, the language translation devices market is predicted to rise steadily in the coming years.
Globalization and Tourism Driving the Growth of the Market
The demand for good language translation devices is skyrocketing with the international travels and globalization. These devices help in eliminating language barriers, thus, facilitating easier communication and elevating user experiences across different domains like tourism, healthcare, hospitality, and business. With the internet and globalization making people more connected and bringing them together, language translation devices efficiently break down language and cultural barriers between people from diverse backgrounds, leading to a more unified planet.
Witnessing the robust growth of language translation market, many startups are entering the market. One such company is Waverly Labs, which decided to cater the real time translation by launching Forum in January 2023, a web, and mobile based application. The company aimed to remove all sorts of language barriers and enable the consumers to get the translations either through text or audios on their mobile phones or web connected to the computers. It provides a full transcript of the conversation had by the consumer in the end of the translation session. It is equipped with 20 languages and 42 dialects, creating a wave in the market.
Technological Advancements and Introduction of AI Boost the Market Growth
The technological advancement in artificial intelligence is directing the capabilities of language translation devices. The continual advancement enables more accurate translations, resulting in greater adoption of these devices among the users.
The AI and IT industry have become the backbones of language translation devices and software to produce quality content in local languages that local population can understand and relate to. It drives the growth of language translation industry.
Pocketalk Corporation and SoftBank Corp. announced an alliance on July 25, 2023. Under the collaboration, they are marketing "Pocketalk" translation solutions for customers in Japan and global markets to expand their businesses further. SoftBank has been expanding its business beyond telecommunications and using advanced technologies like AI, IoT, and 5G to expand its business. Under the alliance, both the companies aimed to sell one million units of "Pocketalk" series in a span of three years.
Inaccuracy of Language Translation Devices Create Hindrance in its Growth
Generally, language translation devices are accurate, but they are not completely faultless. They might find a difficulty in translating the complex sentences, idioms or specific words that may not have a specific word in the chosen language. Certain industries like, translating instructions for medical equipment, legal documents, aviation manuals and various other kinds of technical content requires 100% accuracy. In these cases, mistakes can be hazardous and can cost lives, huge amounts of money and damage to the company's image. Thus, the substitution of words done by language translation devices can be risky at times and the results cannot be completely reliable.
In a US immigration and asylum case in 2019, a man from Brazil, Carlos was separated from his family and detained in a US Immigration and Customs Enforcement (Ice) detention center. The authorities took help of an AI-powered language translation device to interpret Carlos' language, but the system failed to understand his regional accent. Hence, Carlos had to spend half a year in a US Immigration and Customs Enforcement detention, being unable to successfully communicate with anyone.
Online Language Translation Devices to Promote the Market Growth
Online language translation devices hold a greater market share in comparison to the offline language translation devices. The reason behind the dominance is online language translation devices allowing the consumers to have access to translation in real time, without any delay. Moreover, these translators enjoy a competitive edge as they have the data of around most of the languages spoken globally. They allow the users to translate phrases and words easily and quickly to a foreign language which makes it easier for the users to have an effortless and smoother communication with each other, breaking all the language barriers. They help people in conveying their thoughts conveniently to one another.
Additionally, these language translation devices are cheap and cost-effective, as they are either free of cost and need just an internet connection or are available at low subscription prices, making them very affordable and accessible. In August 2023, Meta Platforms, Inc., the parent company of Facebook announced the launch of an AI-powered translation engine, Seamless M4T, which translates languages easily across all sorts of text and speech. Seamless M4T has technology like speech recognition for about 100 languages, speech-to-speech translation which supports about 36 output and 100 input languages, speech-to-text translation for about 100 output and input languages, text-to-text translation for about 100 languages, and text-to-speech translation which supports about 35 output languages and 100 input languages.
Key Players Landscape and Outlook
Global language translation devices market features a competitive landscape with several key players. These players have established a strong presence in the market with a wide variety of language translation devices to cater to various consumer preferences. The outlook for these key players is positive, driven by a growing market worldwide. As the market expands, innovation in language translation devices has become pivotal for maintaining a competitive edge. Additionally, marketing strategies focus on attracting new segment of consumers and continuous product development are crucial in shaping the market landscape and brand positioning.
The Timekettle team announced the launch of cross-species language translation through its self-developed translation engine on April 1, 2022. Not just for humans or aliens, the company launched its new language translation device with the feature of dog and cat voice translation. Timekettle Translator earbuds recorded the sound of the animals and then attempted to identify the meaning. The technology then translates pet's voices instantly, and a human voice speaks through the earbuds, presenting the layout on Timekettle APP.
Later, Timekettle, in May 2023, launched, instant message translation in 40 Languages in Beta version of Chat Mode in its devices. The features of translation was initially released in October 2020, and was introduced to the users as an additional feature of M2 Translator Earbuds Campaign on Indiegogo. The upgraded version was then released in December 2021, with the Android system. And now in 2023, the iOS system was developed by the company to solve the problem of communication for more consumers.
All segments will be provided for all regions and countries covered
Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work