Portable Translator Market Is Booming Worldwide with Logbar, Travis, Lingo
Published Via 11Press : The global portable translator market, which is presently estimated to be worth USD282.7 M, is predicted to increase at a rate of 12.9% and reach USD725 M by 2029.
The latest Released study published by HTF Market Intelligence on “Portable Translator Market Growth 2022-2029” provides readers with details on strategic planning and tactical business decisions that influence and stabilize growth prognosis in Portable Translator Market. However, a few disruptive factors will have opposite and significant effects on how the global portable translator industry develops and how players are distributed. A device that makes language translation easier is a small, portable translator. When visiting another country, the majority of visitors use this tool to interact with persons or groups they do not speak the same language with. The device works through voice recognition, text scanning, keyboard input, and other methods. Due to its ability to help with phrase and word interpretation, it is perfect for interpreting restaurant menus, street signs, and instructions. Additionally, portable translators come with other functions like a currency converter option and simple math abilities. Most of devices are fitted with speech synthesizing feature and allow typed and spoken input while some require integration with smartphone to use the camera for better inputs and faster output. This growth is primarily driven by Tourism industry is growing faster than ever. As of 2018, tourism contributed $7.6 trillion to the global economy. China continues to spend the most on tourism, amounting to USD 261 billion. Some of the world’s top tourist destinations include France, United States, Spain, China and Italy. Also, Osaka in Japan is one of the fastest rising tourism destinations. Such a huge growth in tourism industry drives the demand for portable translator devices. Languages such as Chinese and Japanese have mostly native speakers. Moreover, these languages are regarded to be tough to master for the beginning.
Portable Translator Industry Background:
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| Attributes | Details |
| Study Period | 2019-2029 |
| Base Year | 2022 |
| Forecast Period | 2023-2029 |
| Volume Unit | K Units |
| Value Unit | USD (M) |
| Dominating Type | Wifi |
| Dominating Type % Share | 34.02% |
| Key players | Logbar Inc. (Japan), Hainan Two Monkeys Technology (Shenzhen) Co. (China), Ectaco (US), Weifang safire international trade Co.,Travis (Denmark), Vasco-electronics (US), iFLYTECK (China), Lingo (US), Ltd (China), SourceNext (Japan) |
Portable Translator Market Key Business Segments:
By Type:
- Wi-Fi
- Offline
- SIM Card+WiFi
- Others
By Application:
- Business
- Travel
- Shopping
The report offers Major leading players:
- Logbar
- Hainan Two Monkeys Technology
- Ectaco
- Weifang safire international trade Co.
- Travis
- Vasco-electronics
- iFLYTECK
- Lingo
- SourceNext
Regulatory Insights:
Market Growth Drivers:
- The tourism industry is growing faster than ever. The world economy benefited $7.6 trillion from tourism as of 2018. With USD 261 billion, China continues to spend the most on tourism. Among the most well-liked travel destinations worldwide are France, the United States, Spain, China, and Italy. Japan’s Osaka is one of the tourism destinations with the fastest growth. The massive growth of the tourism industry is what is driving the demand for portable translation tools. Native speakers predominate in languages like Chinese and Japanese. Additionally, these languages are thought to be difficult to learn at first. Businesses now operate internationally and in a variety of languages due to globalisation.
- People are open to setting up shop and operating their businesses elsewhere. Near airports, foreign travellers make significant purchases and use local eateries, stores, and other locations. Businesses are attempting to create portable items that meet consumer wants. Customers may easily ask locals for directions, rates, location information, and other information when they are equipped with portable translators. As a result, both the demand for real-time translation technology and the necessity for portable language translators is rising.
Challenges:
- The portable translator translates the term utilising a number of techniques, such as voice recognition, text inputs, and text scanning. The individual’s readiness to pause and respond to end-user questions is a key factor in the device’s functionality. Other people frequently can’t tell what the device is, which causes them to panic and run away as well. Additionally, individuals that are aware of the device frequently choose not to reply to users.
Restraints:
- Thanks to advances in translator technology, there are currently numerous platforms for language translation. Language translation is possible with a number of technologies. Widespread consumer adoption of CAT tools, MT engines, translation management systems (TMS), terminology management tools, and localization automation tools is a result of the simplicity and correctness of the localization process made possible by these technologies. The usage of online translation tools like Google Translate, Bing Translate, SDL Free Translation, DeepL Translation, PROMT Online Translation, and others is also very common.
Opportunities:
- Despite the fact that the best is yet to come, technology has fundamentally altered the field of language translation. Numerous changes are predicted for portable translators in the future. Businesses are focusing on fusing a number of technologies with this device. The new standard is portable translators with AI capabilities, and many enterprises are adopting the swiftly developing technology.
- Additionally, businesses are concentrating on creating portable translators that can translate different languages while in use. Xiaomi launched Mijia AI portable translator in September 2018 which is capable of translating 14 languages. Growing tourist sector and progress in technology are likely to offer considerable boost to the portable translator market.
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Customization in the Report
HTF Market Intelligence covers not only precise market projections but also contains considerable value-added analysis on:
– Portable Translator Influencing Trends
– Technological Trends and Innovations
– Growth Drivers and Constraints for the Portable Translator Market Life Cycle Indicators
– Entry/Exit Barriers for New Entrants in the Portable Translator Market
– To Seize Significant Market Opportunities
– Determine Important Business Segments, Market Proposition, and Gap Analysis
Against this Challenging Backdrop, Portable Translator Study Sheds Light on
— The Portable Translator Market’s current state and distinguishing features. To end this, Analysts at HTF Market Intelligence organize and took surveys of the Portable Translator industry players. The resultant snapshot serves as a basis for understanding why and how the Portable Translator industry is expected to change.
— Where Portable Translator business is going. Financial analysis, surveys, and expert interviews are used to glean insights.
— How every firm in this broad collection of players may effectively manage the increasing competitive landscape and pursue a strategy that enables them position to maintain the value they presently claim or grasp the new addressable opportunity?
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