Future Market Insights
A booming market which will make language barrier no more a trouble. Wearable Translator supports real-time speech conversion. The technology associated with the wearable translator does not depend on any type of internet connection like the old conventional type of translators in which a person has to download the app and then different languages as per the requirement which takes up much of the space from the memory of the cell phone. The wearable translator has a resounding battery life of 24 hours on a single full charge. The device is not connected to any type of internet connection so it does not drain the battery and hence has a good battery life.
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.
Wearable Translator Market: Market Segmentation
Wearable Translator Market can be divided into segments based on end-user and component.
Segmentation on basis of End-user for Wearable Translator Market:
The major segments of wearable translator market on basis of end-user are Travel, Tourism, Business, Retail and others and it is mostly focused for travel and tourism users.
Segmentation on basis of Component for Wearable Translator Market:
The major segments of wearable translator market on basis of component include Software, Service and hardware which tells about all the three domains of the device.
Wearable Translator Market Technology Trends
Technological developments such as offline memory and voice recognition are expected to create opportunities for wearable translator market. Furthermore, software as a component of the translator will help to improve application quality.
Wearable Translator Competitive Landscape
The major wearable translator vendor is Logbar Inc., who launched its product named ili. There is only one major competitor in the market till date but the reports say that Google is working on real-time translation as well, so the barrier for the languages will be lifted soon with this technology being a generalised term in near future.
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