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 Corp., SpeechTrans Inc., and Voxtec International Inc.

The other vendors mentioned in the report are Microsoft Corp., Raytheon BBN Technologies, Google 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.

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