The Electronic Dictionary Market is expected to reach USD 8 billion, at a 15% CAGR by the end of 2017-2023.
With a motive to improvise the reading and writing skills of students, they are encouraged to make use of the electronic dictionary on the large scale. The use of electronic devices is not only restricted to this area. Instead, they can also be used in the form of a language translation feature that helps in getting a better understanding of the various meanings of words. This device is also used by special children and helps in catering to specific kinds of learning disabilities along with helping them overcome various facial and behavioral challenges and treating intellectual impairment. It helps in facilitating the students by providing them with words that have a similar context or meaning when it comes to their usage. Also, this is a great way in making students self-reliant. Also, this increases the ability of the students to be more independent and enhances their learning abilities.
The Electronic Dictionary Market is expected to grow at a 15% CAGR by the end of the global forecast period of 2017-2023. The market is expected to reach a market valuation that sums up to USD 8 billion.
Electronic Dictionary Market:
COVID 19 Analysis:
The spread of the global coronavirus pandemic has transformed how businesses function and carry on their production and supply services. Most of the target and contributory sectors of the economy are attaining a backseat due to the uncertainty that is prevailing in these times. With the rise in cases each day and the degree of severity taking a toll, the need is to devote prime focus on the development of healthcare infrastructure and catering to similar needs of individuals. The healthcare industry is witnessing a major demand and the growing dependence of people is providing them with a large-scale requirement to cater.
Owing to the restrictions along with temporary and permanent lockdowns, the students are witnessing ongoing classes and hence, the use of electronic devices is increasing. Also, to enhance their speaking skills and English vocabulary, students are opting to use electronic dictionaries. With the growing demand for English-speaking students and having a proper hand and fluency over the language, parents are also investing in the procurement of these devices. The government and the key market players are also investing in the research and development for the enhancement of these devices and adding the features on the requirement in them.
The major drivers that are driving a major and widespread demand for the market are the growing need for fluency over the English language and having a better vocabulary and understanding the meaning of a complex world. English is gaining a lot of recognition and acceptance and hence, parents are driving their children to read more of it and build a strong vocabulary. Also, this is increasing the competition which in turn, is letting the target audience organically demand electronic dictionaries in a considerable quantum in various major geographies of the world.
The rising awareness and promotion amongst children to real physical books is a matter of concern. Also, students are facing a lot of virtual issues due to high exposure to digital devices is likely to hamper the growth market. Parents are very careful and hence, try to expose children to electronic devices by any means for a limited time only. The growing healthcare concerns are also acting as a major challenge for the market to grow by the end of the global forecast period in 2023.
The availability of electronic dictionaries in various formats like handheld devices, installation of mobile applications on various smartphones and tablets, CD-ROMs, computer software, e-readers, in-built applications supporting online reading along with DVD-ROMs are acting as great scope for the market for the future forecasted time to come. The electronic dictionaries can help and support the viewing of as many as 500,000 headwords, compiled with the definitions, conjugation table, reference for grammar section, antonyms and synonyms translation, language assistance, word meanings and other forms of translation activities are a part of these. Owing to all these advantages and benefits, the market is likely to grow at a steering rate by the end of the global forecast year of 2023.
The Electronic Dictionary Market Size is increasing owing to the market segmentation that has been done based on the market End-Users, Type of Display, along with Screen Size. The performance of these segments is vital in depicting the attainable market size.
Based on Screen Size
The Screen Size varies from 0 inches to 0-2.8 inches, 0 inches and above along with 8-3.2 inches.
Based on the Type of Display
The Electronic Dictionaries can be displayed on the touch display, LCDs, computer software, CD and DVD ROMs, keyboards, and stylus, amongst others.
Based on End-User
The Electronic Dictionary Targets the K-12 students and the above K-12 students, along with the business professionals.
The major geographies of the world have a major contribution that helps in expanding and predicting the electronic dictionary market share. The electronic dictionary industry is functional in regions like the APAC region, Europe, the North American market along the nations belonging to the rest of the world. The APAC region is likely to have the maximum market share in the global market. The main reason behind this that is influencing the market operations is the considerable growth of the e-learning industry in the particular region. Also, the wide-scale implementation of the K-12 digital system of education is contributing to a major extent that will help the market grow by the end of the forecast period in 2023.
Another factor that is helping the APAC region emerge as the dominant market player is that it has a population belonging to diverse availability of flora and fauna. These people have different regional languages, and this is forming as a significant factor for growth in the future.
The competitive market landscape is drawn between the companies that are lending their services of production and development in the global market. The prominent market players have an important role to play in predicting the growth rate of the market. They are:
The global electronic dictionary market is expected to stand at USD 8 billion by 2023.
The global electronic dictionary market is expected to grow at 15% CAGR from 2017 to 2023.
APAC can dominate the global electronic dictionary market till 2023.
Travel dictionary can dominate the market till 2023.
Alfa Link (P.T. Freshindo Marketama), IFLYTEK, Canon Electronic Business Machines, Sharp Electronics, Hanvon, Ectaco Inc., Casio Computer Co., Ltd., Noah Technology Holding, Wisebrave, and Inventec Besta Co., Ltd. are notable players of the global electronic dictionary market.