Global Language Translation Software Market to 2027
Global Language Translation Software Market to 2027
Market Overview
Language translation is the interpretation of meaningful text, and the production of an equivalent text. This text is known as the source text or language. Increase in prevalence of integrated organization markets and rise in user friendly website designing will drive the market growth over the forecast period. Language translation software is divided into various types such as localization, interpretation, translation, transcription, and others.
Market Drivers
Increase in penetration of smartphones and internet facility in non- English speaking countries such as Spain, Russia, Mexico, and Brazil is the key driving factor which is expected to boost the global language translation software market growth. Furthermore, increase in globalization as well as increase in demand to search information over internet will have the positive impact on global language translation software market growth. Moreover technological advancements and innovations will fuel market growth during this forecast period.
Market Restraints
However, availability of alternatives and free language translators is the major restraining factor which is expected to hamper the global language translation software market growth. Also, lack of awareness will affect the market growth.
Market Segmentation
Global Language Translation Software Market is segmented into component such as Software( Hybrid Machine Translation, Statistical-Based Machine Translation, and Rule-based Machine Translation) and Solution (Transcription, Interpretation, Localization, Translation, and Others).Further, market is segmented into by industrial vertical such as Education, IT & Telecommunication, Government, Manufacturing, Healthcare, and Banking Financial Services and Insurance (BFSI).
Also, Global Language Translation Software Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Market Key Players
Various key players are discussed in this report such as Cloudwords Inc, Systran, Microsoft Inc, IBM Corporation, Google Inc, Babylon Corporation, Global Linguist Solutions, LLC, LanguageLine Solutions, Lionbridge, and bigword Group Ltd
Market Taxonomy
By Component
- Software
Statistical-Based Machine Translation
Rule-based Machine Translation
- Solution
Interpretation
Localization
Translation
Others
By Industrial Vertical
- Education
- IT & Telecommunication
- Government
- Manufacturing
- Healthcare
- Banking Financial Services and Insurance (BFSI)
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
- 1 Introduction
- 1.1 Objective of the Study
- 1.2 Market definition
- 1.3 Market Scope
- 2 Research Methodology
- 2.1 Data Mining
- 2.2 Validation
- 2.3 Primary Interviews
- 2.4 List of Data Sources
- 3 Executive Summary
- 4 Global Language Translation Software Market Outlook
- 4.1 Overview
- 4.2 Market Dynamics
- 4.2.1 Drivers
- 4.2.2 Restraints
- 4.2.3 Opportunities
- 4.3 Porters Five Force Model
- 4.4 Value Chain Analysis
- 5 Global Language Translation Software Market, By Component
- 5.1 Y-o-Y Growth Comparison, By Component
- 5.2 Global Language Translation Software Market Share Analysis, By Component
- 5.3 Global Language Translation Software Market Size and Forecast, By Component
- 5.3.1 Software
- 5.3.1.1 Hybrid Machine Translation
- 5.3.1.2 Statistical- Based Machine Transaction
- 5.3.1.3 Rule-Based Machine Transaction
- 5.3.2 Services
- 5.3.2.1 Transcription
- 5.3.2.2 Interpretation
- 5.3.2.3 Localisation
- 5.3.2.4 Translation
- 5.3.2.5 Others
- 6 Global Language Translation Software Market, By Industrial Vertical
- 6.1 Y-o-Y Growth Comparison, By Industrial Vertical
- 6.2 Global Language Translation Software Market Share Analysis, By Industrial Vertical
- 6.3 Global Language Translation Software Market Size and Forecast, By Industrial Vertical
- 6.3.1 Education
- 6.3.2 IT & Telecommunication
- 6.3.3 Government
- 6.3.4 Manufacturing
- 6.3.5 Healthcare
- 6.3.6 Banking Financial Services and Insurance (BFSI)
- 7 Global Language Translation Software Market, By Region
- 7.1 Global Language Translation Software Market Share Analysis, By Region
- 7.2 Global Language Translation Software Market Share Analysis, By Region
- 7.3 Global Language Translation Software Market Size and Forecast, By Region
- 8 North America Language Translation Software Market Analysis and Forecast (2017 – 2027)
- 8.1 Introduction
- 8.2 North America Language Translation Software Market Share Analysis, By Component
- 8.3 North America Language Translation Software Market Size and Forecast, By Industrial Vertical
- 8.4 North America Language Translation Software Market Size and Forecast, By Country
- 8.4.1 U.S.
- 8.4.2 Canada
- 8.4.3 Mexico
- 9 Europe Language Translation Software Market Analysis and Forecast (2017 – 2027)
- 9.1 Introduction
- 9.2 Europe Language Translation Software Market Share Analysis, By Component
- 9.3 Europe Language Translation Software Market Size and Forecast, By Industrial Vertical
- 9.4 Europe Language Translation Software Market Size and Forecast, By Country
- 9.4.1 Germany
- 9.4.2 France
- 9.4.3 UK
- 9.4.4. Rest of Europe
- 10 Asia Pacific Language Translation Software Market Analysis and Forecast (2017 – 2027)
- 10.1 Introduction
- 10.2 Asia Pacific Language Translation Software Market Share Analysis, By Component
- 10.3 Asia Pacific Language Translation Software Market Size and Forecast, By Industrial Vertical
- 10.4 Asia Pacific Language Translation Software Market Size and Forecast, By Country
- 10.4.1 China
- 10.4.2 Japan
- 10.4.3 India
- 10.4.4. Rest of Asia Pacific
- 11 Latin America Language Translation Software Market Analysis and Forecast (2017 – 2027)
- 11.1 Introduction
- 11.2 Latin America Language Translation Software Market Share Analysis, By Component
- 11.3 Latin America Language Translation Software Market Size and Forecast, By Industrial Vertical
- 11.4 Latin America Language Translation Software Market Size and Forecast, By Country
- 12 Middle East Language Translation Software Market Analysis and Forecast (2017 – 2027)
- 12.1 Introduction
- 12.2 Middle East Language Translation Software Market Share Analysis, By Component
- 12.3 Middle East Language Translation Software Market Size and Forecast, By Industrial Vertical
- 12.4 Middle East Language Translation Software Market Size and Forecast, By Country
- 13 Competitive Analysis
- 13.1 Competition Dashboard
- 13.2 Market share Analysis of Top Vendors
- 13.3 Key Development Strategies
- 14 Company Profiles
- 15.1 Cloudwords Inc
- 15.1.1 Overview
- 15.1.2 Offerings
- 15.1.3 Key Financials
- 15.1.4 Business Segment & Geographic Overview
- 15.1.5 Key Market Developments
- 15.1.6 Key Strategies
- 15.2 Systran
- 15.2.1 Overview
- 15.2.2 Offerings
- 15.2.3 Key Financials
- 15.2.4 Business Segment & Geographic Overview
- 15.2.5 Key Market Developments
- 15.2.6 Key Strategies
- 15.3 Microsoft Inc
- 15.3.1 Overview
- 15.3.2 Offerings
- 15.3.3 Key Financials
- 15.3.4 Business Segment & Geographic Overview
- 15.3.5 Key Market Developments
- 15.3.6 Key Strategies
- 15.4 IBM Corporation
- 15.4.1 Overview
- 15.4.2 Offerings
- 15.4.3 Key Financials
- 15.4.4 Business Segment & Geographic Overview
- 15.4.5 Key Market Developments
- 15.4.6 Key Strategies
- 15.5 Google Inc
- 15.5.1 Overview
- 15.5.2 Offerings
- 15.5.3 Key Financials
- 15.5.4 Business Segment & Geographic Overview
- 15.5.5 Key Market Developments
- 15.5.6 Key Strategies
- 15.6 Babylon Corporation
- 15.6.1 Overview
- 15.6.2 Offerings
- 15.6.3 Key Financials
- 15.6.4 Business Segment & Geographic Overview
- 15.6.5 Key Market Developments
- 15.6.6 Key Strategies
- 15.7 Global Linguist Solutions, LLC
- 15.7.1 Overview
- 15.7.2 Offerings
- 15.7.3 Key Financials
- 15.7.4 Business Segment & Geographic Overview
- 15.7.5 Key Market Developments
- 15.7.6 Key Strategies
- 15.8 LanguageLine Solutions
- 15.8.1 Overview
- 15.8.2 Offerings
- 15.8.3 Key Financials
- 15.8.4 Business Segment & Geographic Overview
- 15.8.5 Key Market Developments
- 15.8.6 Key Strategies
- 15.9 Lionbridge
- 15.9.1 Overview
- 15.9.2 Offerings
- 15.9.3 Key Financials
- 15.9.4 Business Segment & Geographic Overview
- 15.9.5 Key Market Developments
- 15.9.6 Key Strategies
- 15.10 bigword Group Ltd
- 15.10.1 Overview
- 15.10.2 Offerings
- 15.10.3 Key Financials
- 15.10.4 Business Segment & Geographic Overview
- 15.10.5 Key Market Developments
- 15.10.6 Key Strategies
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