Home > Media & Technology > Information Technology > IT Applications > Language Translation Device Market
Language Translation Device Market Size
- Report ID: GMI5306
- Published Date: Aug 2022
- Report Format: PDF
Language Translation Device Market Size
Language Translation Device Market size exceeded USD 990 million in 2021 and is expected to register over 10% CAGR from 2022 to 2030. The development of sophisticated solutions impelled by data-based AI and machine learning is emerging as a major trend accelerating industry dynamics.
The expanding use of high-speed network connectivity, as well as greater government digitization initiatives, are boosting the adoption of AI and IoT. This is creating a surge in demand for devices that can be tailored to meet the demands of consumers, as the use of AI-based translation solutions grows.
Increasing need for OBD-based passenger vehicles
The passenger vehicle segment accounted for around 40% of the language translation device market revenue share in 2021 and is estimated to experience remarkable growth between 2022 and 2030. The sector expansion can be attributed to the increasing number of passenger cars integrated with advanced onboard diagnostics (OBD) tools to scan the engine and sub-components of vehicles.
| Report Attribute | Details |
|---|---|
| Base Year: | 2021 |
| Language Translation Device Market Size in 2021: | 900 million (USD) |
| Forecast Period: | 2022 to 2030 |
| Forecast Period 2022 to 2030 CAGR: | 10% |
| 2030 Value Projection: | 2.5 billion (USD) |
| Historical Data for: | 2018 to 2021 |
| No. of Pages: | 350 |
| Tables, Charts & Figures: | 411 |
| Segments covered: | Product, Type, Distribution Channel, Application |
| Growth Drivers: |
|
| Pitfalls & Challenges: |
|
Frequently Asked Questions (FAQ) :
Language Translation Device Market Scope
