The growth of medical tourism in non-native language speaking countries will boost the global language translation devices market.
Arizton’s recent research report on the global language translating devices market identifies Bragi, Waverly Labs, Mymanu, Alphabet, Fujitsu, Logbar, Timekettle, Misway, Travis, Lingmo, Xiaomi, iFLYTEK, Cheetah Mobile, Two Monkeys Technology, and Sogou as the prominent vendors that are likely to dominate the market during the forecast period. The report provides a detailed analysis of market segmentation by products (handheld and wearable), platforms (offline and online), distribution channel (e-commerce and retail), and geography (APAC, Europe, MEA, North America, and Latin America).
The global language translating devices market is likely to reach around $191 million by 2024, growing at a CAGR of approximately 13% during 2018–2024.
The global language translating devices market is divided into four major segments - products, platforms, distribution type, and geography.
APAC is the Largest Market for Handheld Devices
Handheld language translating devices are the devices, which the user to translate foreign languages. Medical tourism is supporting the rise of handheld devices, especially in the APAC region. The growth of medical tourism in non-native language speaking countries has a direct influence on the language translation devices market. Asia, Middle East and Africa (AMEA) is the fastest-growing region in the global medical tourism market due to a large influx of patients from the US and Western European countries seeking inexpensive healthcare and low-cost treatment. This growth is also driven by public healthcare reforms and rapidly expanding private sector. Countries sch as Singapore, India, Saudi Arabia, the UAE, India, Jordan, South Korea, Malaysia, and Thailand are the major destinations for medical tourism in the region. People from Western countries, especially from the US and European countries, are undergoing hip replacement, knee replacement, spinal fusion surgery, dental implantation, and ophthalmic implantation procedures in these countries.
Rise of Online Distribution Channel due to increased Internet Penetration
Over the years, the online sale of language translating devices has gained prominence. E-commerce portals provide high discounts with a wide availability of products. Online offers also offer bundled product services at low prices. Vendors are using the online medium to promote their products. For instance, Amazon is one of the largest e-commerce players worldwide and sells several brands of language translating device models.
Further, increased penetration of internet services, improved economy, and upgrading of purchase and delivery options with the emergence of m-commerce have paved the way for online shopping through smart and connected devices such as smartphones and tablets. The m-commerce sector is expected to account for close to half of the global e-commerce market by 2020. Online websites also provide detailed information on products, which has also increased the demand for e-retailing among customers. Consumers feel more comfortable about purchasing language translating devices while on-the-go. For instance, due to large and more tangible interfaces of tablets as well as their frequent use using Wi-Fi connections, are suitable for purchasing these products online as they ease the decision-making process of end-users considerably.
The complete overview of the latest market research report on the global language translating devices market by Arizton is now available.
The report offers a detailed study of major trends, drivers, challenges, and provides market sizing and forecast for major geographical regions and key countries.
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