Language Translation Software Market is expected to grow at approximately USD 25 Billion by 2023, at 14% of CAGR

Global Language Translation Software Market, By Component (Solution, Service), By Function (Translation, Localization, Interpretation), By Organization Size (Large Enterprises), By Vertical (Healthcare, Government, IT & Telecommunication) – Forecast 2023

Market Highlights

Lionbridge Technologies, Inc. is one of the prominent player in language translation software market. The company provides language translation and localization service. It offers ondemand translation service for accurate, socially relevant translations. The company has developed self-service, cloud-based delivery model and states that ondemand translation service saves the time and money of users without compromising quality or customer service. It also states that if user organization has the resources to oversee the translation and localization process directly, the company provides managed language services for a customized, active approach.

On the basis of regional analysis the market is segmented into North America, Europe, Asia-Pacific and Rest of the World. North America region is generating highest market share in the language translation software market owing to better network infrastructure, digitization and higher technology implementation. Digitization in North America is mainly due to the invention of advanced technology and economies benefitting from it. North America region is leading due to presence of major players from the region in the language translation software market. The implementation of language translation software solution by both small and medium enterprises is increasing rapidly, especially one into IT & BFSI sector. The language translation software is gaining demand as organization seek to improve their business growth by shifting from on-premise to cloud based.

The language translation software market is expected to grow at approximately USD 25 Billion by 2023, at 14% of CAGR between 2017 and 2023.

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Major Key Players

  • Bigword Group Ltd. (England),
  • Lionbridge Technologies, Inc. (U.S.),
  • Languageline Solutions (U.S.),
  • Global Linguist Solutions (U.S.),
  • Babylon Corporation (Israel),
  • Google Inc. (U.S.),
  • IBM Corporation (U.S.),
  • Microsoft Inc. (U.S.),
  • Systran (South Korea),
  • Cloudwords Inc. (U.S.)

Taste the market data and market information presented through more than 30 market data tables and figures spread over 100 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “The Language Translation Software Market Research Report -Forecast to 2023”.

Language Translation Software Market Segmentation

The language translation software market has been segmented on the basis of component, function,organization size and vertical. Language translation solutions that can easily translate any type of content to grow users business, increase efficiency and strengthen compliance. It also provides document translation services that improves language access in many industries.

Market Research Analysis:

The language translation software market in North America region is growing due to high adoption of cloud solutions by enterprise and need to improve information governance in organizations. According to the study, the language translation software market will show rapid growth in Europe region. Asia-Pacific market is estimated to be one of the fastest growing market as it is continuously investing into research and development of language translation software market and growing oversea business attract more users and is driving language translation software market in the region. Increasing population, and growing IT landscape is boosting the market in the region. The region is witnessing high adoption of language translation software tools by enterprises.

Developing countries such as India and China are adopting language translation software tools at large scale owing to high amount of data generation from numerous industries and the need to designed streaming to store those data and for efficient management of business is one of the prime factor that is boosting the market in the region. By vertical segment, education and IT & telecommunication sector is driving the language translation software market. The region is witnessing high growth in language translation software market due to growing oversea business and rise in business purchase outsourcing services.

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Table of Content

1    Market Introduction

      1.1    Introduction   

      1.2    Scope Of Study

            1.2.1    Research Objective

            1.2.2    Assumptions

            1.2.3    Limitations

      1.3    Market Structure

2    Research Methodology

      2.1    Research Type

      2.2    Primary Research

      2.3    Secondary Research

      2.4    Forecast Model

            2.4.1    Market Data Collection, Analysis & Forecast

            2.4.2    Market Size Estimation

3    Market Dynamics

      3.1    Introduction

      3.2    Market Drivers

      3.3    Market Challenges

      3.4    Market Opportunities

      3.5    Market Restraints

4    Executive Summary

5.    Market Factor Analysis

      5.1    Porter’s Five Forces Analysis

      5.2    Supply Chain Analysis

6    Language Translation Software Market, By Segments

Continued….

List Of Tables

Table 1        Language Translation Software Market, By Component

Table 2        Language Translation Software Market, By Function

Table 3        Language Translation Software Market, By Organization Size

Table 4        Language Translation Software Market, By Vertical

Continued…..

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