The Global Electronic Dictionary market was valued at USD 7.32 billion in 2023 and is expected to reach USD 19.18 billion by the year 2030, at a CAGR of 14.76%.
An electronic dictionary is typically used as a digital or online dictionary that may be retrieved or synchronized with a variety of media, including an LCD, stylus, and other devices. These days, an electronic dictionary may be found on a variety of platforms and gadgets, including desktops, laptops, smartphones, tablets, and many more. The demand for and size of the electronic dictionary market is rising due to the growing use of these devices, particularly in developing nations like China, Japan, and India. The market for electronic dictionaries is growing due to the growing popularity of e-learning and online education. Additionally, as people become more urbanized and uniform, there is a greater awareness of the hailed benefits of online schooling, which has a direct bearing on the market for electronic dictionaries. The industry is expanding as a result of the greater efforts being made by colleges and universities to support online learning. However, there has been a spike in the use of smartphones along with the rising use of electronic dictionaries, which could serve as a barrier to the market's expansion.
The desire for improved vocabulary and fluency in the English language is what is driving the global market. This is explained by the fact that English has become the official language of many nations worldwide. Additionally, the need for electronic dictionaries is being driven by a notable increase in e-learning solutions that have resulted in a large user base. Furthermore, the market is benefiting from the general public's growing embrace of clever interactive learning concepts, especially among younger people. Another factor driving the growth of the electronic dictionary market is the growing trend of large firms outsourcing their e-learning resources. Positive government actions that support the construction and renovation of school facilities to give kids a higher-quality education is also contributing to the market's optimistic outlook. In addition, the market is being stimulated by the growing ed-tech platform market and the education sector's growing usage of cloud-based services. Other factors driving the market are the growing number of remote educations centers, the fast pace of urbanization, and the significant R&D efforts undertaken by the major competitors.
Electronic dictionary makers have a great chance to expand into emerging countries. The need for educational resources, such as electronic dictionaries, is rising as literacy rates rise and disposable incomes increase across Latin America, Asia, and Africa. Because traditional educational resources are frequently unavailable in these areas, electronic dictionaries that are portable and reasonably priced are especially alluring. Additionally, there is a growing market for English language learning resources in emerging nations as English becomes more and more recognized as the universal language of communication and business. This need can be satisfied by electronic dictionaries, which come equipped with functions like exercises to improve vocabulary, translation assistance, and pronunciation guides. Electronic dictionary companies can increase their customer base and profit from the growing demand for educational technology in emerging countries by entering these expanding markets.
Global Electronic Dictionary Market, Segmentation
The Electronic Dictionary Market is segmented based on type, end-user industry, and region.
By Type:
The largest market category for electronic dictionaries is students' dictionaries. The second-largest segment is business and travel. Professionals and travellers alike utilize electronic dictionaries to facilitate communication and comprehension in diverse linguistic environments. In business settings, electronic dictionaries aid in overcoming language barriers during meetings, negotiations, and correspondence with international partners or clients.
End User Industry:
The electronic dictionary market is divided into two segments: K–12 students and Above K–12 students, based on the end-user industry. The K–12 student demographic lies the Above K–12 student segment, which includes college students, professionals, and lifelong learners. This segment encompasses a diverse range of users who require electronic dictionaries for various purposes, including advanced language study, professional communication, and personal enrichment. Electronic dictionaries serving the Above K–12 market often offer advanced features and comprehensive language databases to meet the needs of more experienced users.
Region:
In the Asia-Pacific area, the market for electronic dictionaries is expanding quickly. The world's largest market share is held by the APAC region. because of the expanding e-learning market in developing nations like China, India, and Japan. Furthermore, the cost of electronic dictionaries is reasonable and accessible in India, which boosts demand for these devices. Additionally, the K–12 online education system is being implemented in the APAC region, which is driving expansion.
Some of The Leading/Active Market Players Are-
- Noah Technology Holding (US)
- Merriam-Webster Incorporated (US)
- ECTACO Inc. (US)
- APKPure (US)
- Casio Computer Co. Ltd. (Japan)
- P.T. Freshindo Marketama Corporation (Indonesia)
- Canon Electronic Business Machines (Japan)
- Inventec Besta Co. (Taiwan)
- Vasco Electronics LLC (France)
- Sharp Corporation (Japan) and other major players.
Key Industry Developments
- In December 2023, A new range of electronic dictionaries that will leverage IFLYTEK's AI technology to deliver more precise and thorough translations was launched, along with a collaboration with Oxford University Press. To improve the use of its electronic dictionaries, IFLYTEK, a pioneer in speech recognition technology, is incorporating this feature.
- In October 2022, Canon unveiled the Word Ace EX5000S, a new electronic dictionary featuring multilingual capabilities, a huge touchscreen display, and sophisticated handwriting recognition. To make learning more enjoyable, Canon has also been adding elements like games and puzzles to its line-up of electronic dictionaries for kids.
Key Findings of the Study
- The rising use of electronic devices, particularly in nations like China, Japan, and India, propels the global electronic dictionary market's growth, with a projected CAGR of 14.76% from 2023 to 2030.
- The growing acceptance of online education and efforts by educational institutions to embrace digital learning platforms are driving the market's rise.
- The Asia-Pacific region leads the industry with K–12 online education systems and growing e-learning markets, offering lucrative opportunities for market participants.
