Electronic Dictionary Market to Hit US$ 12,976.66 Million By 2030 | Latest Research By Consegic Business Intelligence
Electronic Dictionary Market is projected to register a CAGR of 11.10% during 2023-2030, due to its increasing demand from educational institutions, language learners, and travelers, among others, and major participants includes are ELLTON ENTERPRISE PTE LTD, APKPure, Merriam-Webster Incorporated, Vasco Electronics, SHARP CORPORATION, iFLYTEK Corporation
New York, Sept. 04, 2023 (GLOBE NEWSWIRE) — As per the research report “Global Electronic Dictionary Market” published by Consegic Business Intelligence, the market was worth USD 5,739.21 Million in 2022 and is anticipated to reach over USD 12,976.66 Million by the year 2030, growing at a CAGR of 11.10%.
Electronic dictionary stores data in digital format that is often stored and accessed through a computer by means of software. The benefits of electronic dictionary including ease of utilization, faster translation, excellent portability, availability of a broad range of information, and others, make it ideal for utilization by educational institutions, business enterprises, language learners, and travelers among others.
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The rising utilization of electronic dictionary in educational institutions to promote bilingual is one of the key factors driving the market growth. Moreover, rising government initiatives for development of educational institutions, increasing adoption of higher education enrolments, and growing international student mobility trends are key factors fostering the adoption of electronic dictionary. For instance, according to the Institute of International Education Inc., the total number of new international students enrolled in U.S. institutions increased by 7% during the academic year 2021/22. Thus, the rising student enrolments in educational institutions is driving the adoption of electronic dictionaries to aid students in language learning, vocabulary expansion, and exam preparations, thereby, driving the growth of the market.
Additionally, the rising application of electronic dictionary by travelers or tourists is expected to promote potential opportunities for the growth of the electronic dictionary market. Electronic dictionary is often utilized by travelers or tourists for effective communication in foreign countries, attributed to its instant translations and language support. Moreover, electronic dictionary helps in overcoming language barriers and enhance the overall travel experience, which are primary determinants for increasing its utilization by travelers or tourists. However, the availability of substitutes for electronic dictionary is hindering the growth of the market.
|Report Attributes||Report Details|
|Market Size By 2030||USD 12,976.66 Million|
|Key Players||CASIO COMPUTER CO. LTD., Canon Electronic Business Machines (H.K.) Co. Ltd., ECTACO Inc., ELLTON ENTERPRISE PTE LTD, APKPure, Merriam-Webster Incorporated, Vasco Electronics, SHARP CORPORATION, iFLYTEK Corporation, Hanvon Technology Co. Ltd.|
|By Sales Channel||Direct Sales and Distributor Sales|
|By End-User||Educational Institutions, Business Enterprise, Language Learners, and Travelers|
|Report Coverage||Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more|
|By Region||North America, Europe, Asia-Pacific, Latin America, Middle East & Africa|
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Electronic Dictionary Market Growth Drivers:
- Rising utilization of electronic dictionary in educational institutions is driving the market growth.
- Increasing adoption of electronic dictionary by language learners is spurring the market growth.
- Availability of substitutes is restraining market growth.
- Rising application of electronic dictionary in by travelers or tourists is expected to promote potential opportunities for market growth.
Global Electronic Dictionary Market Segmentation Details:
Based on sales channel, the distributor sales segment contributed the largest shares to the market growth in 2022. Distributor sales channel includes the sales of electronic dictionaries indirectly to customers through several e-commerce websites and offline distributors including specialist stores, retail stores, and others. Additionally, factors including ease of use, high flexibility, higher accessibility to a broad range of products, and others are among the key prospects driving the growth of the distributor sales channel segment.
Based on end-user, the educational institutions segment accounted for the maximum revenue share in the year 2022. Electronic dictionaries are crucial assets for educational institutions and helps students in language learning, vocabulary expansion, and exam preparations, among others. Factors including the expansion of educational institutions, rising adoption of higher education enrolments, and growing international student mobility trends are among the key prospects fostering the growth of the educational institutions segment.
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Based on region, North American region accounted for the largest revenue share in the year 2022. The increasing utilization of electronic dictionary in educational institutions and rising number of international student enrollments in educational institutes in North America are primary factors driving the growth of electronic dictionary market in the region. Moreover, the rising tourism activities and increasing utilization of electronic dictionary by tourists for language support and instant translations are further boosting the growth of the market in the North American region.
Key Market Highlights
- Globally, electronic dictionary market is divided based on the sales channel into direct sales and distributor sales.
- In the context of end-user, the market is separated into educational institutions, business enterprise, language learners, and travelers.
- The market is geographically divided into five regions: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.
- North America and Asia-Pacific are estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on advancements in electronic dictionary market.
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List of Major Global Electronic Dictionary Market Players
The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —
• CASIO COMPUTER CO. LTD.
• Canon Electronic Business Machines (H.K.) Co. Ltd.
• ECTACO Inc.
• ELLTON ENTERPRISE PTE LTD
• Merriam-Webster Incorporated
• Vasco Electronics
• SHARP CORPORATION
• iFLYTEK Corporation
• Hanvon Technology Co. Ltd.
Global Electronic Dictionary Market Segmentation:
- By Sales Channel
- Direct Sales
- Distributor Sales
- By End-User
- Educational Institutions
- Business Enterprise
- Language Learners
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Key Questions Covered in the Electronic Dictionary Market Report
- What is electronic dictionary?
- An electronic dictionary consists of lexicographic information that is primarily stored and accessed through a computer. The data of an electronic dictionary exists in digital form and can be accessed through various media.
- What is the dominant segment in the electronic dictionary market by sales channel?
- In 2022, the distributor sales segment accounted for the highest market share in the overall electronic dictionary market.
- Based on current market trends and future predictions, which geographical region will have the largest impact on the electronic dictionary growth in the coming years?
- North America accounted for the largest revenue share in the year 2022. The increasing utilization of electronic dictionary in educational institutions along with growing international student mobility among others is driving the growth of the regional market.
- Which region/country is anticipated to witness the highest CAGR during the forecast period, 2023-2030?
- Asia-Pacific is anticipated to register fastest CAGR growth during the forecast period due to rapid pace of urbanization, expansion of educational institutions, rising adoption of higher education enrolments, and other related factors.
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