Global Language Translation Software & Services Market

Language Translation Software & Services Market by Technology (Hybrid Machine Translation, Statistical-based Machine Translation, and Rule-based Machine Translation), End-users (Manufacturing, Government, IT & Telecom, Education, BFSI, Healthcare, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: ICT-SE-3793
  • Author: Growth Market Reports
  • Rating: 4.8
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  • No. Of Pages: 212
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The global language translation software & services market size is projected to expand at a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the requirement for website content translation.

Global Language Translation Software & Services Market summary

Language translation software and services involve a process of converting a given programming language into a functionally equivalent program in a target computer language while preserving the original code's functional and logical structure. For instance, the Samsung Galaxy S IV can provide translation for many languages. However, the sophisticated technology that are required to create language translation software has yet to permeate the market for smartphones and other smart devices. Moreover, due to the system intricacy, it is difficult to integrate several regional languages in the language translation system. In order to provide a full solution for language translation, some technologies combine the properties of rule-based machine translation with the features of statistical-based machine translation. Cloud providers place a premium on creating customized mobile apps with language translation capabilities such as buttons, cameras, and geo-specific features.

The COVID-19 pandemic has swept the globe, wreaking havoc on a variety of businesses. However, since most translators have started working from home and used digital documents, the pandemic lockdowns have had only a little impact on the translation services market. Experts are constantly looking forward to collaborate to stop the spread of COVID-19 outbreak with the use of relevant material that has been appropriately translated, transcribed, and disseminated globally.

Market Trends, Drivers, Restraints, and Opportunities

  • Rising prevalence of integrated organizations worldwide need the development of user-friendly and simple-to-understand websites for all products and services available. This is expected to boost the market in the coming years.
  • Having capacity to meet consumers' needs for language translation on mobile devices, the technology is widely popular among smartphone users. This factor drives the market.
  • Increasing desire to seek for information on the Internet for various business applications among different industries is anticipated to fuel the market during the forecast period.
  • Lack of knowledge about the features of language translation systems among several gadget users and among small organizations is a major challenges that can hinder the market expansion.
  • Technological breakthroughs have resulted in smartphone developments and innovations, which are estimated to create lucrative opportunities for the market expansion.

Scope of the Report

The report on the global language translation software & services market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Language Translation Software & Services Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Technology (Hybrid Machine Translation, Statistical-based Machine Translation, and Rule-based Machine Translation) and End-users (Manufacturing, Government, IT & Telecom, Education, BFSI, Healthcare, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Microsoft Inc.; SDL/Trados Inc.; Google Inc.; Systran; Babylon Corporation; Bablefish Inc.; AlphaCRC; Bitext Ltd.; CallMiner; Duolingo Corporation; inRiver Inc.; Lionbridge Inc.; IBM; Language Engineering LLC; and Cloudwords Inc.

Market Segment Insights

Hybrid machine translation segment to expand at a considerable CAGR

On the basis of technology, the language translation software & services market is segmented into hybrid machine translation, statistical-based machine translation, and rule-based machine translation. The hybrid machine translation segment is projected to expand at a considerable CAGR during the forecast period due to its certain advantages and characteristics for some business applications. , One of the major essential characteristics of rule-based machine translation as well as statistical-based machine translation is attaining a high level of accuracy in language translation.  On the other hand, the statistical-based machine translation segment is anticipated to account for a major market share during the forecast period as it has an advantage over rule-based machine translation since it employs statistical techniques and number-specific technologies.

Global Language Translation Software & Services Market technology

Education segment to hold significant share of the market

In terms of end-users, the market is divided into manufacturing, government, IT & telecom, education, BFSI, healthcare, and others. The education segment is expected to hold significant share of the market owing to the widespread use of translation technology in these industries. However, the others segment is projected to account for a key market share due to rising demand for language translation software by a huge number of businesses worldwide.

Global Language Translation Software & Services Market end-users

North America is anticipated to constitute a key market share

In terms of regions, the language translation software & services market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the projected period due to the growing use of this technology in mobile devices such as smartphones and tablets for efficient translation system in companies based in the region. However, the market of Asia Pacific is anticipated to expand at a rapid pace during the forecast period as a result of wide investments in language translation technologies to enhance company efficiency and deliver BPO services to non-English speaking regions.

Global Language Translation Software & Services Market region

Segments

Segments Covered in the Report
The global language translation software & services market has been segmented on the basis of
Technology

  • Hybrid Machine Translation
  • Statistical-based Machine Translation
  • Rule-based Machine Translation

End-users

  • Manufacturing
  • Government
  • IT & Telecom
  • Education
  • BFSI
  • Healthcare
  • Others

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Microsoft Inc.
  • SDL/Trados Inc.
  • Google Inc.
  • Systran
  • Babylon Corporation
  • Bablefish Inc.
  • AlphaCRC
  • Bitext Ltd.
  • CallMiner
  • Duolingo Corporation
  • inRiver Inc.
  • Lionbridge Inc.
  • IBM
  • Language Engineering LLC
  • Cloudwords Inc.

 

Competitive Landscape

Key players competing in the global language translation software & services market are Microsoft Inc.; SDL/Trados Inc.; Google Inc.; Systran; Babylon Corporation; Bablefish Inc.; AlphaCRC; Bitext Ltd.; CallMiner; Duolingo Corporation; inRiver Inc.; Lionbridge Inc.; IBM; Language Engineering LLC; and Cloudwords Inc.

Besides mergers and acquisitions, forging a partnership among key players is considered to be a primary growth strategy in the worldwide language translation software and services market. Lionbridge, for example, stated in May 2015 that it has formed a gold membership arrangement with Oracle Network to provide multilingual content to its clients. Furthermore, Lionbridge established a partnership with inRiver in April 2015 in order to simplify its worldwide content on the platform.

Global Language Translation Software & Services Market keyplayers

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Language Translation Software & Services Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Language Translation Software & Services Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Language Translation Software & Services Market - Supply Chain
  4.5. Global Language Translation Software & Services Market Forecast
     4.5.1. Language Translation Software & Services Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Language Translation Software & Services Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Language Translation Software & Services Market Absolute $ Opportunity
5. Global Language Translation Software & Services Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Language Translation Software & Services Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Language Translation Software & Services Demand Share Forecast, 2019-2026
6. North America Language Translation Software & Services Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Language Translation Software & Services Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Language Translation Software & Services Demand Share Forecast, 2019-2026
7. Latin America Language Translation Software & Services Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Language Translation Software & Services Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Language Translation Software & Services Demand Share Forecast, 2019-2026
8. Europe Language Translation Software & Services Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Language Translation Software & Services Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Language Translation Software & Services Demand Share Forecast, 2019-2026
9. Asia Pacific Language Translation Software & Services Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Language Translation Software & Services Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Language Translation Software & Services Demand Share Forecast, 2019-2026
10. Middle East & Africa Language Translation Software & Services Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Language Translation Software & Services Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Language Translation Software & Services Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Language Translation Software & Services Market: Market Share Analysis
  11.2. Language Translation Software & Services Distributors and Customers
  11.3. Language Translation Software & Services Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Microsoft Inc.
     11.4.2. SDL/Trados Inc.
     11.4.3. Google Inc.
     11.4.4. Systran
     11.4.5. Babylon Corporation
     11.4.6. Bablefish Inc.
     11.4.7. AlphaCRC
     11.4.8. Bitext Ltd.
     11.4.9.

Segments Covered in the Report
The global language translation software & services market has been segmented on the basis of
Technology

  • Hybrid Machine Translation
  • Statistical-based Machine Translation
  • Rule-based Machine Translation

End-users

  • Manufacturing
  • Government
  • IT & Telecom
  • Education
  • BFSI
  • Healthcare
  • Others

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Microsoft Inc.
  • SDL/Trados Inc.
  • Google Inc.
  • Systran
  • Babylon Corporation
  • Bablefish Inc.
  • AlphaCRC
  • Bitext Ltd.
  • CallMiner
  • Duolingo Corporation
  • inRiver Inc.
  • Lionbridge Inc.
  • IBM
  • Language Engineering LLC
  • Cloudwords Inc.

 

Key players competing in the global language translation software & services market are Microsoft Inc.; SDL/Trados Inc.; Google Inc.; Systran; Babylon Corporation; Bablefish Inc.; AlphaCRC; Bitext Ltd.; CallMiner; Duolingo Corporation; inRiver Inc.; Lionbridge Inc.; IBM; Language Engineering LLC; and Cloudwords Inc.

Besides mergers and acquisitions, forging a partnership among key players is considered to be a primary growth strategy in the worldwide language translation software and services market. Lionbridge, for example, stated in May 2015 that it has formed a gold membership arrangement with Oracle Network to provide multilingual content to its clients. Furthermore, Lionbridge established a partnership with inRiver in April 2015 in order to simplify its worldwide content on the platform.

Global Language Translation Software & Services Market keyplayers

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