Language Translation Device Market Analysis

Language Translation Device Market Analysis

By product, the industry is fragmented into handheld devices and wearable devices. The handheld language translation device market segment dominated about 80% of the share in 2021. Many companies are offering innovative pocket translators that provide advanced and intelligent features for translating languages. Increasing innovations by leading players will have a major role to augmenting the demand for handheld services by end of 2030.
 

The online translation segment will acquire nearly 60% of the language translation device market revenue share in 2021. This can be credited to the growth of the internet and connected devices which has increased the demand for online translators. Apart from regular languages, some online translators can also translate sentences and phrases of Klingon, the language used in the television show Star Trek. Increasing demand for online translation among various consumer bases will propel the business outlook.
 

The online platforms market dominated approximately 70% of the industry share in 2021 owing to the social distancing measures implemented during the COVID-19 pandemic. The e-commerce programme offers easy availability, a wide range of products, and convenience, which has stimulated the product necessity. As per e-commerce statistics in 2022, e-retail sales were recorded at USD 4.9 trillion and are predicted to account for 24.5% of retail sales by 2025.
 

The commercial application segment held 60% of the language translation device market stake in 2021 due to the significant rise in worldwide trade activities. As per the International Trade and Tariff Organization, more than 41 million American jobs rely on overall trade. This has increased the demand for improved communications with customers to avoid any contextual misunderstandings caused by language barriers, generating lucrative growth opportunities.
 

The Asia Pacific language translation device market is projected to observe above 15% growth rate between 2022 and 2030 led by the growing espousal of translation technologies in the developing economies of the region, such as India, China, and South Korea.