1. Market Research
  2. > Advanced IT Market Trends
Speech to Speech Translation Market - Growth, Trends, and Forecast (2020 - 2025)

Speech to Speech Translation Market - Growth, Trends, and Forecast (2020 - 2025)

  • March 2020
  • 125 pages
  • ID: 5881452
  • Format: PDF
  • Mordor Intelligence LLP

Summary

Table of Contents

Search Inside

The speech to speech translation market is expected to record a growth at a CAGR of 9.4%, over the forecast period (2020 - 2025). The speech-to-speech (S2S) translation breaks down communication barriers among people that typically don’t speak a common language. The basic purpose that such technology used to serve at its inception stages was to enable an instant oral cross-lingual communication.

- With globalization and frequent international travel, language difference has been acting as a serious barrier. With S2S, the expectations are to break such barrier to foster international business, international tourism, and equalize communication ability. As of 2020, the language with a high demand around the world is Chinese (Mandarin). Ethnologue further estimates that the number of native speakers being 1.2 billion and a billion among them speak Mandarin. This is suggestive that Chinese is the most spoken globally and the second-most preferred for online applications after English.
- The recent technological advances and innovations to increase computational power whilst building smaller and smaller devices with higher performance has led to a strong demand for information retrieving and communication enabled technologies in the market. Further, as machine translation investments rise, the resultant is a more accurate translation.
- Since the growth of the tourism industry is fueling the demand for speech to speech translation solutions, vendors such as, Raytheon, Lingmo, LogBar Inc., among others, in the market are actively positioning their products on similar lines. For instance, Raytheon BBN Technologies’ TransTalk serves a portable, two-way translation device facilitating exchange of information across language barriers. The speech is capable of automatic translation and spoken back in the foreign language.

Key Market Trends
Software Segment to Witness Significantly High Growth Rate

- Mobile and web applications that are capable of takingvoice inputs in one language and generate voice outputs in another language are considered as a part of the study. Karlsruhe Institute of Technology is using cases on tourism, medical exchanges, broadcast news with their software application. Speech logger is using their application in the communication markets majorly in Call center. All these use cases are affluence the software segment towards the growth with innovation in a speech to speech translation market.
- Amazon is one of the key pllayer offering speech to speech translation service, among Google and Microsoft. The company is the services with its AWS lambda function that connects with three AI language services, such as Amazon Transcribe, Amazon Translate, and Amazon Polly. Moreover, Amazon Alexa also provides voice translation services that can translate one way from English to another language up to 48 languages.
- According to a study conducted by One Hour Translation (OHT), an online translations platform, on major voice assistants capable of real-time voice translation, and found that google assistant is one of the top-performing real-time voice translators ahead of other virtual assistants such as Siri and skype.

Asia-Pacific Region is Expected to Witness the Fastest Growth Geographically

- After Europe, Asia-pacific is the major attraction center of tourism, as countries, such as Thailand, Singapore, India, Malaysia, and China, attract a significant number of tourists annually. According to UNWTO, in 2018, the number of international tourist arrivals in Asia-Pacific was at 347.7 million.
- In addition, the region is one of the major markets for smartphones, in terms of volume, and with the advent of 5G, the number of devices is expected to increase even further. According to Ericsson, in 2019, the smartphone subscription rate in China alone reached 1,440 million, while that of Northeast Asia was at 1,820 and India, Nepal, and Bhutan together accounted for 670 million.
- Apart from this, Asia-Pacific is also one of the prominent markets for consumer electronics and software development, wherein various vendors are increasingly developing solutions for businesses. For instance, China’s Baidu developed an API for speech to speech translation in August 2019.

Competitive Landscape
The market is considerably fragmented with very few major players, the software segment of the market is where major players are competing to gain market share. The companies are including AI and machine learning to enhance their offerings, major companies include Microsoft Corporation, Google (Alphabet Inc.), APALON (IAC Search & Media Technologies Limited.), Langogo, Shenzhen Timekettle Technologies.,Ltd, and many more.

- January 2020 - Google planned to add a real-time transcription feature to its Google Translate app for Android in the coming years. The feature is expected to allow users to record audio in one language and have it extracted in another in real-time. This feature is still in the prototype stage, but the company gave a demonstration of the technology during the Artificial Intelligence Demos at its San Francisco office.
- July 2019 - iFlytek, a Chinese artificial intelligence company specializing in speech recognition, successfully raised USD 407 million from a state-backed industry fund and several provincial government funds via a private placement and would use it to improve technology in open platforms for smart speech, next-generation cognitive technology and service robots.

Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.
Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.

ref:plp2020

Reportlinker.com © Copyright 2020. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on