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Electronic Dictionary Market Size

ID: MRFR//2725-HCR | 100 Pages | Author: Aarti Dhapte| May 2024

The Electronic Dictionary Market is influenced by a myriad of market factors that collectively shape its dynamics and growth trajectory. One crucial factor is technological advancements. As technology continues to evolve, electronic dictionaries are compelled to integrate the latest innovations to stay relevant. Features such as voice recognition, real-time language translation, and interactive learning tools are becoming increasingly prevalent, driving consumer demand and market expansion.

Globalization is another significant market factor. With the world becoming more interconnected, the need for language tools has surged. Electronic dictionaries cater to this demand by providing users with instant access to translations, aiding communication across diverse linguistic landscapes. The rise of international business, travel, and multiculturalism has further fueled the adoption of electronic dictionaries, making them indispensable tools for individuals and professionals alike.

The competitive landscape plays a pivotal role in shaping the electronic dictionary market. Key players constantly engage in research and development to enhance product offerings and gain a competitive edge. The battle for market share drives innovation, leading to the introduction of new features, improved user interfaces, and expanded language databases. Market leaders invest heavily in marketing strategies to build brand awareness and loyalty, influencing consumer preferences and market trends.

Consumer preferences and behavior are instrumental in shaping the electronic dictionary market. The increasing emphasis on education, both formal and informal, has heightened the demand for language learning tools. Students, professionals, and language enthusiasts seek compact, user-friendly electronic dictionaries that aid in vocabulary building and language comprehension. As consumers become more discerning, factors such as design, portability, and ease of use play a crucial role in influencing purchasing decisions.

Economic factors also play a role in the electronic dictionary market. Affordability and disposable income levels impact consumer purchasing power. While electronic dictionaries are considered valuable tools, their adoption may be influenced by economic conditions. Market players often offer a range of products catering to different price points to accommodate diverse consumer segments, ensuring accessibility across various income brackets.

Government policies and regulations can significantly impact the electronic dictionary market. Initiatives promoting language education or restrictions on certain features (such as internet access) can shape the product landscape. Compliance with international standards and regulations may influence product design and development, adding an additional layer of complexity for market players.

Furthermore, the increasing prevalence of smartphones and mobile devices has reshaped the electronic dictionary market. Many consumers prefer the convenience of having language tools integrated into their mobile devices, prompting electronic dictionary manufacturers to develop apps and software solutions. The shift towards digital platforms and online learning has further propelled this trend, challenging traditional electronic dictionary devices.

Covered Aspects:

Report Attribute/Metric Details
Growth Rate 15% (2020-2027)

Electronic Dictionary Market Overview:


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 2020-2027. The market is expected to reach a market valuation that sums up to USD 8 billion.


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. 


Electronic Dictionary Market Dynamics:


Market Drivers


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.


Market Challenges


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.


Technology Analysis:


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.


Study Objectives:



  • To study the factors and developments that will help the global market grow by the end of the global forecast period of 2023.

  • To analyze the performance of the various market segments in the major geographies of the world over the global forecast period.

  • To consider the revenue model of the key market players and note their recent developments that will help in predicting the expected market share and subsequently, draw a competitive market landscape.


Electronic Dictionary Market Segment Overview:


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.


Electronic Dictionary Screen Size Insights


The Screen Size varies from 0 inches to 0-2.8 inches, 0 inches and above along with 8-3.2 inches.


Electronic Dictionary Type of Display Insights


The Electronic Dictionaries can be displayed on the touch display, LCDs, computer software, CD and DVD ROMs, keyboards, and stylus, amongst others.


Electronic Dictionary End-User Insights


The Electronic Dictionary Targets the K-12 students and the above K-12 students, along with the business professionals.


Regional Analysis:


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.


Electronic Dictionary Market Key Player & Competitive Landscape:


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:



  • Canon Hanvon (China)

  • IFLYTEK(China)

  • Electronic Business Machines (Hongkong)

  • Ectaco Inc. (U.S.)

  • Sharp Electronics (U.K.)

  • Wisebrave (China)

  • Casio Computer Co., Ltd. (Japan)

  • Inventec Besta Co., Ltd. (Taiwan)

  • Noah Technology Holding (China)

  • Alfa Link (P.T. Freshindo Marketama) (Indonesia)


Electronic Dictionary Industry Developments:


Canon



  • In October 2022, Canon launched the WordAce EX5000S, a new electronic dictionary with a large touchscreen display, advanced handwriting recognition, and support for multiple languages. (Source: Canon press release)



  • Canon has also been expanding its line of electronic dictionaries for children, with features such as games and puzzles to make learning more fun.




IFLYTEK



  • In December 2023, IFLYTEK announced a partnership with Oxford University Press to develop a new line of electronic dictionaries that will use IFLYTEK's AI technology to provide more accurate and comprehensive translations. 

  • IFLYTEK is also a leader in voice recognition technology, which it is integrating into its electronic dictionaries to make them more user-friendly.



Intended Audience



  • Investors, Consultants, Manufacturers, and Technology Solution Providers

  • Government and Research-Based Organizations

  • System Integrators

  • Educational Institutions


Report Overview:


The Global Electronic Dictionary Market discusses the market scope and growth prospects that will help the market grow as per the predicted CAGR rate by the end of the global forecast period in 2023. The report considers the takeaways updated by the industry players and market leaders to note the market dynamics and growth opportunities that are available in various geographical locations around the globe. The performance of these segments helps both the regional and global players to grow at a large scale. The report discusses the role of the intended audience in stabilizing the supply chain mechanism by demanding electronic devices on a large scale. The global report also aims to draw a competitive market landscape amongst the key market players based on their recent developments by the end of the global forecast period of 2023.

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