Market Overview:
The global real-time text translation provider services market is expected to grow at a CAGR of 10.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for real-time translation services from individual and enterprise users across the globe. In addition, the growing demand for multilingual content management is also contributing to the growth of this market. The global real-time text translation provider services market can be segmented on the basis of type into online service and offline service. The online service segment is expected to account for a larger share of this market than the offline service segment during the forecast period. This can be attributed to factors such as ease of use and convenience offered by online services compared with offline services. On the basis of application, this market can be divided into individual, enterprise, and others segments.
Product Definition:
Real-time text translation provider services provide translations in real-time, as the text is being entered. This can be important for businesses that need to quickly translate information into other languages, or for people who need to communicate with someone in a language they do not understand.
Online Service:
Online service is a set of tools and processes for providing real-time text translation in any language. It uses the Internet as a medium to communicate with other languages across the globe. Online services are used by non-English speaking people to interact with English speakers, by English speakers to interact with non-English speaking people, and by native speakers of a particular language to communicate in an unknown tongue.
Offline Service:
Offline service is a technology that helps in translating the real-time text from one language to another. It uses a special set of rules called as algorithms to translate the words or phrases. The most commonly used offline services are Google Translate and Yandex Translate.
Application Insights:
The others application segment accounted for the largest revenue share in 2017 and is projected to witness significant growth over the forecast period. The real-time text translation services are gaining popularity among other applications such as customer support, social media, blog post & article posting, and video transcriptions.
The individual segment is expected to be one of the fastest-growing segments over the forecast period owing to increasing usage of real-time text on mobile devices. Real-time language translation helps individuals communicate in different languages by providing instant translations without any delay or need for interpretation. It has become a necessary tool for individuals traveling abroad who wish to communicate with locals or have their travel plans assisted by natives speaking their native tongue.
Regional Analysis:
North America dominated the global real-time text translation provider services market in 2017. This can be attributed to the high demand for foreign language skills, increasing number of immigrants in U.S., and rising government initiatives to promote international communication skills among its citizens. The Asia Pacific is expected to witness significant growth over the forecast period owing to growing penetration of internet users, rapid technological advancements, and increasing outsourcing activities across various industry verticals including legal & regulatory, medical & healthcare, financial services among others.
Growth Factors:
- Increasing demand for real-time text translation services from the business sector to cater to the global market
- Growing popularity of online and mobile communication platforms that need real-time translation support
- Proliferation of social media and instant messaging applications that require real-time translations for users around the world
- Development of new technologies and tools that can improve the accuracy and speed of translations
- Rising number of freelance translators who are able to offer their services in real time through online platforms
Scope Of The Report
Report Attributes
Report Details
Report Title
Real-Time Text Translation Provider Services Market Research Report
By Type
Online Service, Offline Service
By Application
Individual, Enterprise, Others
By Companies
Babylon Software, Lionbridge Technologies, WorldLingo, ChatLingual, Gengo, GMR Transcription Services, Localization Technologies, PoliLingua, SDL, TextMaster
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
239
Number of Tables & Figures
168
Customization Available
Yes, the report can be customized as per your need.
Global Real-Time Text Translation Provider Services Market Report Segments:
The global Real-Time Text Translation Provider Services market is segmented on the basis of:
Types
Online Service, Offline Service
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Individual, Enterprise, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Babylon Software
- Lionbridge Technologies
- WorldLingo
- ChatLingual
- Gengo
- GMR Transcription Services
- Localization Technologies
- PoliLingua
- SDL
- TextMaster
Highlights of The Real-Time Text Translation Provider Services Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Online Service
- Offline Service
- By Application:
- Individual
- Enterprise
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Real-Time Text Translation Provider Services Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Real-time text translation provider services are a type of online service that allow users to translate text in real time. This type of service is often used by businesses to help communicate with customers in different languages.
Some of the major companies in the real-time text translation provider services market are Babylon Software, Lionbridge Technologies, WorldLingo, ChatLingual, Gengo, GMR Transcription Services, Localization Technologies, PoliLingua, SDL, TextMaster.
The real-time text translation provider services market is expected to grow at a compound annual growth rate of 10.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Real-Time Text Translation Provider Services Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 Real-Time Text Translation Provider Services Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Real-Time Text Translation Provider Services Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the Real-Time Text Translation Provider Services Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global Real-Time Text Translation Provider Services Market Size & Forecast, 2018-2028 4.5.1 Real-Time Text Translation Provider Services Market Size and Y-o-Y Growth 4.5.2 Real-Time Text Translation Provider Services Market Absolute $ Opportunity
Chapter 5 Global Real-Time Text Translation Provider Services Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Real-Time Text Translation Provider Services Market Size Forecast by Type
5.2.1 Online Service
5.2.2 Offline Service
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Real-Time Text Translation Provider Services Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Real-Time Text Translation Provider Services Market Size Forecast by Applications
6.2.1 Individual
6.2.2 Enterprise
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Real-Time Text Translation Provider Services Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Real-Time Text Translation Provider Services Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Real-Time Text Translation Provider Services Analysis and Forecast
9.1 Introduction
9.2 North America Real-Time Text Translation Provider Services Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Real-Time Text Translation Provider Services Market Size Forecast by Type
9.6.1 Online Service
9.6.2 Offline Service
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Real-Time Text Translation Provider Services Market Size Forecast by Applications
9.10.1 Individual
9.10.2 Enterprise
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Real-Time Text Translation Provider Services Analysis and Forecast
10.1 Introduction
10.2 Europe Real-Time Text Translation Provider Services Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Real-Time Text Translation Provider Services Market Size Forecast by Type
10.6.1 Online Service
10.6.2 Offline Service
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Real-Time Text Translation Provider Services Market Size Forecast by Applications
10.10.1 Individual
10.10.2 Enterprise
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Real-Time Text Translation Provider Services Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Real-Time Text Translation Provider Services Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Real-Time Text Translation Provider Services Market Size Forecast by Type
11.6.1 Online Service
11.6.2 Offline Service
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Real-Time Text Translation Provider Services Market Size Forecast by Applications
11.10.1 Individual
11.10.2 Enterprise
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Real-Time Text Translation Provider Services Analysis and Forecast
12.1 Introduction
12.2 Latin America Real-Time Text Translation Provider Services Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Real-Time Text Translation Provider Services Market Size Forecast by Type
12.6.1 Online Service
12.6.2 Offline Service
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Real-Time Text Translation Provider Services Market Size Forecast by Applications
12.10.1 Individual
12.10.2 Enterprise
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Real-Time Text Translation Provider Services Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Real-Time Text Translation Provider Services Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Real-Time Text Translation Provider Services Market Size Forecast by Type
13.6.1 Online Service
13.6.2 Offline Service
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Real-Time Text Translation Provider Services Market Size Forecast by Applications
13.10.1 Individual
13.10.2 Enterprise
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Real-Time Text Translation Provider Services Market: Competitive Dashboard
14.2 Global Real-Time Text Translation Provider Services Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Babylon Software
14.3.2 Lionbridge Technologies
14.3.3 WorldLingo
14.3.4 ChatLingual
14.3.5 Gengo
14.3.6 GMR Transcription Services
14.3.7 Localization Technologies
14.3.8 PoliLingua
14.3.9 SDL
14.3.10 TextMaster