Market Overview:
The global simultaneous interpreter market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for simultaneous interpretation services in various applications such as foreign trade, travel abroad, and foreign language learning. Additionally, the growing number of MNCs and international events are also contributing to the growth of this market. However, lack of skilled professionals is restraining the growth of this market. Based on type, the global simultaneous interpreter market can be segmented into online translation and offline translation. Offline translation held a larger share in 2017 owing to its low cost as compared to online translation services.
Product Definition:
Simultaneous Interpreter is a professional who renders the spoken language of one person into another language while that person is speaking. This is done through use of an earpiece and microphone, allowing the interpreter to hear both languages at once. The Simultaneous Interpreter then repeats what has been said in the other language, usually after a pause so that those listening can take notes if necessary.
Online Translation:
Online translation is a service, which provides instant translated text. It's major use is in the field of communication and software industry. Online translators are used by different companies for their business purpose such as advertisement and marketing, software documentation etc. The market size of online translation services depends upon the growth factor of global language segment such as English, Spanish, French etc., but also depends upon the demand from end-user industries like education sector or legal sector etc.
Offline Translation:
An offline translation is a simultaneous interpretation in which the interpreting service is provided to the user by means of an optical character recognition (OCR) technology-based system. The OCR system deciphers the characters from the image and then translates it into a real-time English version.
The offline systems are widely used for simultaneous interpreting as they provide high accuracy, quick turnaround time, and cost efficiency.
Application Insights:
The foreign trade segment dominated the global simultaneous interpreter market in terms of revenue share in 2017. The growth can be attributed to increasing business activities of companies across the world. Companies operating globally have a need for language translation and interpretation services at their offices, regional headquarters as well as overseas facilities. The demand for these services is particularly high from companies engaged in manufacturing or supplying products to other countries where different languages are spoken by the local population.
Interpreters employed by such companies play a vital role during negotiations with foreign governments, international organizations and other prominent citizens on matters concerning trade agreements, investments etc., especially when there are differences between two official languages involved.
Regional Analysis:
North America dominated the global simultaneous interpreter market in terms of revenue share in 2017. The presence of a large number of service providers and demand for high-quality services are some factors driving regional growth. Furthermore, the rise in foreign trade activities is expected to increase demand for simultaneous interpreting services across North America over the forecast period.
Asia Pacific is anticipated to witness significant growth over the forecast period owing to increasing investments by governments across various countries towards infrastructure development coupled with growing tourism activities, thereby creating opportunities for Simultaneous Interpreting Service Providers (SISPs). In addition, rising awareness regarding foreign languages among students and professionals will drive regional growth during the forecast years.
Growth Factors:
- Increasing demand for simultaneous interpretation services from corporate and government organizations
- Growing popularity of conference interpreting services among businesses and other organizations
- Proliferation of international conferences, trade shows, and other events that require simultaneous interpretation services
- Rising number of people who are proficient in multiple languages and are interested in becoming interpreters
- Advances in technology that make it easier to provide simultaneous interpretation services
Scope Of The Report
Report Attributes
Report Details
Report Title
Simultaneous Interpreter Market Research Report
By Type
Online Translation, Offline Translation
By Application
Foreign Trade, Travel Abroad, Foreign Language Learning, Others
By Companies
Philips, IFLYTEK, DOSMONO, Shenzhen Zhiyuan Technology Co., Ltd., HYT, Newman, TransnBox, Google, Baidu, Microsoft, Philips
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
200
Number of Tables & Figures
140
Customization Available
Yes, the report can be customized as per your need.
Global Simultaneous Interpreter Market Report Segments:
The global Simultaneous Interpreter market is segmented on the basis of:
Types
Online Translation, Offline Translation
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Foreign Trade, Travel Abroad, Foreign Language Learning, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Philips
- IFLYTEK
- DOSMONO
- Shenzhen Zhiyuan Technology Co., Ltd.
- HYT
- Newman
- TransnBox
- Google
- Baidu
- Microsoft
- Philips
Highlights of The Simultaneous Interpreter Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Online Translation
- Offline Translation
- By Application:
- Foreign Trade
- Travel Abroad
- Foreign Language Learning
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Simultaneous Interpreter Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Simultaneous interpreter is a software that allows two or more interpreters to work on the same text at the same time.
Some of the key players operating in the simultaneous interpreter market are Philips, IFLYTEK, DOSMONO, Shenzhen Zhiyuan Technology Co., Ltd., HYT, Newman, TransnBox, Google, Baidu, Microsoft, Philips.
The simultaneous interpreter market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Simultaneous Interpreter Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Simultaneous Interpreter Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Simultaneous Interpreter Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Simultaneous Interpreter Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Simultaneous Interpreter Market Size & Forecast, 2018-2028
4.5.1 Simultaneous Interpreter Market Size and Y-o-Y Growth
4.5.2 Simultaneous Interpreter Market Absolute $ Opportunity
Chapter 5 Global Simultaneous Interpreter Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Simultaneous Interpreter Market Size Forecast by Type
5.2.1 Online Translation
5.2.2 Offline Translation
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Simultaneous Interpreter Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Simultaneous Interpreter Market Size Forecast by Applications
6.2.1 Foreign Trade
6.2.2 Travel Abroad
6.2.3 Foreign Language Learning
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Simultaneous Interpreter Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Simultaneous Interpreter Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Simultaneous Interpreter Analysis and Forecast
9.1 Introduction
9.2 North America Simultaneous Interpreter Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Simultaneous Interpreter Market Size Forecast by Type
9.6.1 Online Translation
9.6.2 Offline Translation
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Simultaneous Interpreter Market Size Forecast by Applications
9.10.1 Foreign Trade
9.10.2 Travel Abroad
9.10.3 Foreign Language Learning
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Simultaneous Interpreter Analysis and Forecast
10.1 Introduction
10.2 Europe Simultaneous Interpreter Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Simultaneous Interpreter Market Size Forecast by Type
10.6.1 Online Translation
10.6.2 Offline Translation
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Simultaneous Interpreter Market Size Forecast by Applications
10.10.1 Foreign Trade
10.10.2 Travel Abroad
10.10.3 Foreign Language Learning
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Simultaneous Interpreter Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Simultaneous Interpreter Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Simultaneous Interpreter Market Size Forecast by Type
11.6.1 Online Translation
11.6.2 Offline Translation
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Simultaneous Interpreter Market Size Forecast by Applications
11.10.1 Foreign Trade
11.10.2 Travel Abroad
11.10.3 Foreign Language Learning
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Simultaneous Interpreter Analysis and Forecast
12.1 Introduction
12.2 Latin America Simultaneous Interpreter Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Simultaneous Interpreter Market Size Forecast by Type
12.6.1 Online Translation
12.6.2 Offline Translation
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Simultaneous Interpreter Market Size Forecast by Applications
12.10.1 Foreign Trade
12.10.2 Travel Abroad
12.10.3 Foreign Language Learning
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Simultaneous Interpreter Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Simultaneous Interpreter Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Simultaneous Interpreter Market Size Forecast by Type
13.6.1 Online Translation
13.6.2 Offline Translation
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Simultaneous Interpreter Market Size Forecast by Applications
13.10.1 Foreign Trade
13.10.2 Travel Abroad
13.10.3 Foreign Language Learning
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Simultaneous Interpreter Market: Competitive Dashboard
14.2 Global Simultaneous Interpreter Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Philips
14.3.2 IFLYTEK
14.3.3 DOSMONO
14.3.4 Shenzhen Zhiyuan Technology Co., Ltd.
14.3.5 HYT
14.3.6 Newman
14.3.7 TransnBox
14.3.8 Google
14.3.9 Baidu
14.3.10 Microsoft
14.3.11 Philips
