Home Headline News Language Translating Device Market Grows

Language Translating Device Market Grows

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The language translating devices market is likely to reach around $191 million by 2024, growing at a CAGR of approximately 13% during 2018–2024.

The growth in travel and tourism activities, including vacations, leisure travel, is increasing the demand for high-quality devices worldwide. However, increasing medical tourism across borders is one of the major factors responsible for the significant growth of language translating devices. The market dynamics in the medical tourism segment has affected language device manufacturers in terms of product offerings and has also created new opportunities for global as well as local companies, thereby driving the language translating devices market.
The language translating devices market is undergoing tremendous technological transformations, which are accelerating sales of language devices across the world. The availability of real-time language translation capabilities, and increased investments on AI and IoT (internet of things) has helped the market to increase revenues significantly. In North America and Europe, 80% of the potential customers are using online platforms to buy translation devices as they provide a wide platform to compare product pricing and features. The emergence of innovative technology in these devices is having a profound effect on product designs, development, manufacturing, marketing, sales, and the aftersales market.

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Ivy Heffernan, student of Economics at Buckingham University. Junior Analyst at HeffX and experienced marketing director.