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| [January 21, 2013] |
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Research and Markets: The Global Speech-To-Speech Translation Market to Grow At A CAGR Of 19.02 Percent over the Period 2012-2016
DUBLIN --(Business Wire)--
Research and Markets (http://www.researchandmarkets.com/research/8zdfwq/global)
has announced the addition of the "Global
Speech-to-speech Translation Market 2012-2016" report to their
offering.
One of the key factors contributing to this market growth is the high
demand for speech-to-speech translation in the Government sector. The
Global Speech-to-Speech Translation market has also been witnessing the
increasing demand for two-way speech translation. However, the accuracy
issues could pose a challenge to the growth of this market.
The key vendors dominating this market space are ATandT Inc., IBM (News - Alert) Corp.,
SpeechTrns Inc., and Voxtec International Inc.
The other vendors mentioned in the report are Microsoft Corp., Raytheon
BBN Technologies, Google (News - Alert) Inc., and Apple Inc.
Commenting on the report, an analyst from TechNavio's Enterprise
Computing team said: Until recently speech-to-speech (STS) translation
vendors used to offer translation systems as handheld devices or as
software for personal device assistants (PDAs). However, currently, the
market is witnessing a shift toward cloud-based STS applications.
Encouraged by the growing popularity of cloud computing technology,
several vendors have started developing innovative cloud-based
translation applications. Most commonly these translation applications
are offered through internet-based stores of mobile devices. Once
downloaded from the mobile app store, these applications provide speech
translation in several languages. These applications are either offered
for free or for minimum subscription charges.''
According to the report, one of the major drivers is the high demand for
STS translation in the Government sector. With a major requirement for
this type of facility in military and peace-making operations, the
Security and Defense sub-sectors continue to be the top clients for
translation systems. High demand across the Government sector is further
expected to further drive the market in the coming years.
For more information visit http://www.researchandmarkets.com/research/8zdfwq/global
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