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Some of the key Speech To Speech Translation Players with Offerings:
The speech-to-speech translation market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
- Alphabet Inc. - The company offers speech-to-speech translation solutions through Google Translate.
- Cheetah Mobile Inc. - The company offers speech-to-speech translation solutions such as CheetahTALK and CheetahTALK Plus.
- IAC InterActiveCorp - The company offers speech to speech translation solutions through its subsidiary Apalon LLC.
- Langogo Inc. - The company offers speech-to-speech translation solutions through integrated simultaneous interpretation solutions for conferences, lectures, and forums.
- Lingmo International Pty Ltd. - The company offers speech to speech translation solutions namely LINGMO TRANSLATION API.
To know about all major vendors with their key offerings - Click here!
Speech-to-speech translation market - Driver & Challenge
Key Market Driver
- One of the main drivers of speech-to-speech market size growth is the increased demand from business process outsourcing (BPO). Large companies benefit from BPO services because they can better serve their customers by handling client calls and inquiries. Customer discontent analysis is one of the major indicators that may assist BPO companies in boosting their income and improving customer interaction, hence raising their brand value. According to one study, about 80% of customers prefer to speak directly with customer service representatives over the phone than any other method. During the forecast period, the advantages of adopting speech-to-speech translation are expected to boost the global speech-to-speech translation market.
Key Market Challenge
- The speech-to-speech market's expansion is being hampered by differences in internet pricing and coverage around the world. In a cloud-based network, latency is less predictable and more difficult to evaluate. When the cloud environment grows in size, it necessitates more computing and burden, resulting in service delivery variability. If the client network's WAN is overburdened, latency may suffer significantly. Data transfers between cloud services could result in a significant increase in latency. Users of numerous cloud service providers may face higher charges as a result of the data transfer latency. The market's expansion may be limited during the projection period as a result of such high costs.
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Speech-to-Speech Translation Market Value Chain Analysis
The value chain of the systems software market includes the following core components:
- Inputs
- Software development
- Marketing and distribution
- Post-sales services
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Key Regions for the Speech-to-Speech Translation Market
During the projection period, North America will account for 45 percent of market growth. In North America, the primary markets for speech to speech translation are the United States and Canada. The market in this region will increase at a quicker rate than the market in other regions.
Over the forecast period, the increased penetration of modern technologies will aid the growth of the speech-to-speech translation market in North America. This market research report includes thorough information on competitor intelligence, marketing gaps, and geographical potential for suppliers, all of which will aid in the development of effective business plans.
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Speech To Speech Translation Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9.64% |
Market growth 2022-2026 |
USD 238.93 million |
Market structure |
Fragmented |
YoY growth (%) |
8.48 |
Regional analysis |
North America, Europe, APAC, South America, and MEA |
Performing market contribution |
North America at 45% |
Key consumer countries |
US, Canada, UK, India, and Germany |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Alphabet Inc., Cheetah Mobile Inc., IAC InterActiveCorp, Langogo Inc., Lingmo International Pty Ltd., Mesay, Microsoft Corp., Travis GT BV, TripLingo LLC, and Waverly Labs Inc. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period, |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
1. Executive Summary
2. Market Landscape
2.1 Market ecosystem
2.1.1 Parent market
Exhibit 01: Parent market
Exhibit 02: Market characteristics
2.2 Value chain analysis
Exhibit 03: Value chain analysis
2.2.1 Inputs
2.2.2 Software development
2.2.3 Marketing and distribution
2.2.4 Post-sales services
3. Market Sizing
3.1 Market definition
Exhibit 04: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 05: Market segments
3.3 Market size 2021
3.4 Market outlook: Forecast for 2021 - 2026
Exhibit 06: Global - Market size and forecast 2021 - 2026 ($ million)
Exhibit 07: Global market: Year-over-year growth 2021 - 2026 (%)
4. Five Forces Analysis
4.1 Five Forces Summary
Exhibit 08: Five forces analysis 2021 & 2026
4.2 Bargaining power of buyers
Exhibit 09: Bargaining power of buyers
4.3 Bargaining power of suppliers
Exhibit 10: Bargaining power of suppliers
4.4 Threat of new entrants
Exhibit 11: Threat of new entrants
4.5 Threat of substitutes
Exhibit 12: Threat of substitutes
4.6 Threat of rivalry
Exhibit 13: Threat of rivalry
4.7 Market condition
Exhibit 14: Market condition - Five forces 2021
5. Market Segmentation by Type
5.1 Market segments
The segments covered in this chapter are:
Exhibit 15: Type - Market share 2021-2026 (%)
5.2 Comparison by Type
Exhibit 16: Comparison by Type
5.3 Hardware - Market size and forecast 2021-2026
Exhibit 17: Hardware - Market size and forecast 2021-2026 ($ million)
Exhibit 18: Hardware - Year-over-year growth 2021-2026 (%)
5.4 Software - Market size and forecast 2021-2026
Exhibit 19: Software - Market size and forecast 2021-2026 ($ million)
Exhibit 20: Software - Year-over-year growth 2021-2026 (%)
5.5 Market opportunity by Type
Exhibit 21: Market opportunity by Type
6. Customer landscape
Exhibit 22: Customer landscape
7. Geographic Landscape
7.1 Geographic segmentation
The regions covered in the report are:
- North America
- Europe
- APAC
- South America
- MEA
Exhibit 23: Market share by geography 2021-2026 (%)
7.2 Geographic comparison
Exhibit 24: Geographic comparison
7.3 North America - Market size and forecast 2021-2026
Exhibit 25: North America - Market size and forecast 2021-2026 ($ million)
Exhibit 26: North America - Year-over-year growth 2021-2026 (%)
7.4 Europe - Market size and forecast 2021-2026
Exhibit 27: Europe - Market size and forecast 2021-2026 ($ million)
Exhibit 28: Europe - Year-over-year growth 2021-2026 (%)
7.5 APAC - Market size and forecast 2021-2026
Exhibit 29: APAC - Market size and forecast 2021-2026 ($ million)
Exhibit 30: APAC - Year-over-year growth 2021-2026 (%)
7.6 South America - Market size and forecast 2021-2026
Exhibit 31: South America - Market size and forecast 2021-2026 ($ million)
Exhibit 32: South America - Year-over-year growth 2021-2026 (%)
7.7 MEA - Market size and forecast 2021-2026
Exhibit 33: MEA - Market size and forecast 2021-2026 ($ million)
Exhibit 34: MEA - Year-over-year growth 2021-2026 (%)
7.8 Key leading countries
Exhibit 35: Key leading countries
7.9 Market opportunity by geography
Exhibit 36: Market opportunity by geography ($ million)
8. Drivers, Challenges, and Trends
8.1 Market drivers
8.1.1 Demand from the growing business process outsourcing (BPO) sector
8.1.2 Adoption of speech analytics for financial trading
8.1.3 Emergence of handheld devices with speech-to-speech translation functionality
8.2 Market challenges
8.2.1 Varied Internet cost and coverage globally
8.2.2 Limitations of speech-to-speech technology
8.2.3 Lack of accuracy
Exhibit 37: Impact of drivers and challenges
8.3 Market trends
8.3.1 Growing use of AI integrated with speech-to-speech translation
8.3.2 High utilization of social media
8.3.3 Increasing demand for monitoring employee emotions
9. Vendor Landscape
Exhibit 38: Vendor landscape
9.1 Landscape disruption
Exhibit 39: Landscape disruption
Exhibit 40: Industry risks
10. Vendor Analysis
10.1 Vendors covered
Exhibit 41: Vendors covered
10.2 Market positioning of vendors
Exhibit 42: Market positioning of vendors
10.3 Alphabet Inc.
Exhibit 43: Alphabet Inc. - Overview
Exhibit 44: Alphabet Inc. - Business segments
Exhibit 45: Alphabet Inc. - Key offerings
Exhibit 46: Alphabet Inc. - Segment focus
10.4 Cheetah Mobile Inc.
Exhibit 47: Cheetah Mobile Inc. - Overview
Exhibit 48: Cheetah Mobile Inc. - Business segments
Exhibit 49: Cheetah Mobile Inc. - Key offerings
Exhibit 50: Cheetah Mobile Inc. - Segment focus
10.5 IAC InterActiveCorp
Exhibit 51: IAC InterActiveCorp - Overview
Exhibit 52: IAC InterActiveCorp - Business segments
Exhibit 53: IAC InterActiveCorp - Key offerings
Exhibit 54: IAC InterActiveCorp - Segment focus
10.6 Langogo Inc.
Exhibit 55: Langogo Inc. - Overview
Exhibit 56: Langogo Inc. - Product and service
Exhibit 57: Langogo Inc. - Key offerings
10.7 Lingmo International Pty Ltd.
Exhibit 58: Lingmo International Pty Ltd. - Overview
Exhibit 59: Lingmo International Pty Ltd. - Product and service
Exhibit 60: Lingmo International Pty Ltd. - Key offerings
10.8 Mesay
Exhibit 61: Mesay - Overview
Exhibit 62: Mesay - Product and service
Exhibit 63: Mesay - Key offerings
10.9 Microsoft Corp.
Exhibit 64: Microsoft Corp. - Overview
Exhibit 65: Microsoft Corp. - Business segments
Exhibit 66: Microsoft Corp. - Key offerings
Exhibit 67: Microsoft Corp. - Segment focus
10.10 Travis GT BV
Exhibit 68: Travis GT BV - Overview
Exhibit 69: Travis GT BV - Product and service
Exhibit 70: Travis GT BV - Key offerings
10.11 TripLingo LLC
Exhibit 71: TripLingo LLC - Overview
Exhibit 72: TripLingo LLC - Product and service
Exhibit 73: TripLingo LLC - Key offerings
10.12 Waverly Labs Inc.
Exhibit 74: Waverly Labs Inc. - Overview
Exhibit 75: Waverly Labs Inc. - Business segments
Exhibit 76: Waverly Labs Inc. - Key offerings
Exhibit 77: Waverly Labs Inc. - Segment focus
11. Appendix
11.1 Scope of the report
11.1.1 Market definition
11.1.2 Objective
11.1.3 Notes and caveats
11.2 Currency conversion rates for US$
Exhibit 78: Currency conversion rates for US$
11.3 Research Methodology
Exhibit 79: Research Methodology
Exhibit 80: Validation techniques employed for market sizing
Exhibit 81: Information sources
11.4 List of abbreviations
Exhibit 82: List of abbreviations
About Technavio
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