The market for wearable translators is anticipated to grow at a rate of 3.9% CAGR, taking in US$ 213.1 million in revenue in 2022 and US$ 312.2 million by 2032.
The market for wearable translators is expanding more quickly than previously thought, with notable growth rates in recent years. The market is anticipated to expand significantly between 2022 and 2032, according to estimates.
The reduction of the language barrier is likely behind the surge in demand for wearable translators. Real-time speech translation is supported by the wearable translator.
The wearable translator’s technology does not require any kind of internet connection, in contrast to the older, more traditional types of translators, which require users to download an app before using them.
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Wearable Translator market: Drivers and Restraints
The primary driver for the wearable translator is the need for real-time translation of one language to other to improve end-user experience. Furthermore, a rapid increase in offline memory development to fulfil escalating customer requirements will also contribute to the growth of wearable Translator market.
Some other advantages like good battery life, voice activation, more than 50,000 words and phrases offline recognition, updates on different languages, easy switching of languages and many other make it a market going out for.
However, the high cost of the device hampers the market growth as most of the applications on the play store supported by the Android operating system are free to use. The other issue which comes up is that the devices are coming up with less number of languages and the words which generally associate with travelling. The new languages for the devices have to be bought for use.
How is the Competition Landscape in the Wearable Translator Market?
The wearable translator market is consolidated with a presence of a few strong players from around the globe. Some of the prominent players in the global Wearable Translator market include Logbar Inc., Travis, Pulomi, Waverly Labs, WT2 and others.
Emerging Trends in the wearable translator market are brought about as a result of the major players’ adoption of several growth strategies, including product launches, acquisitions, and collaborations.
Some of the recent developments in the wearable translator market are as follows:
- The major wearable translator vendor is Logbar Inc., which has launched its product ILI.
- According to reports, Google is working on real-time translation as well, so the barrier to languages will be lifted soon with this technology becoming a general term very soon.
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Key Segments
By Product Type:
- Service
- Hardware
- Software
By Application:
- Travel
- Business
- Retail
- Tourism
- Others
By Region:
- North America
- Latin America
- Asia Pacific
- Europe
- MEA
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
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