Market Overview:
The global audio translation service market is expected to grow at a CAGR of 10.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for audio translation services from large enterprises and SMEs across different regions. In addition, the growing trend of outsourcing and offshoring is also contributing to the growth of this market. North America dominates the global audio translation service market, followed by Europe, Asia Pacific, Latin America, and Middle East & Africa.
Product Definition:
Audio Translation Service is a service that provides translation of audio files into other languages. This service can be used for a variety of purposes, including business meetings, conference calls, and interviews. The importance of Audio Translation Service depends on the individual or organization's needs. For some businesses, it is essential to have translations for all communications with foreign clients or partners. In other cases, it may be more important to have translations for specific types of audio content, such as marketing materials or legal documents.
Outsourcing:
Outsourcing is the practice of hiring a company or individual to perform tasks that would otherwise take up resources of an organization. Outsourcing can be done for various reasons such as cost-effectiveness, lack of expertise in certain areas, and time & language barriers among others. Outsourcing offers several benefits to both service providers and consumers; it helps service providers expand their business reach by providing services across different geographies while allowing consumers to focus on their core competencies.
Offshoring:
Offshoring is the practice of outsourcing business operations or services to a company or location outside the core business. In other words, it's outsourcing work that requires high technical expertise and knowledge as compared to routine administrative tasks. It can be defined as follows: The movement of manufacturing or service operations from a country’s center to its edge where raw materials are available at lower costs and labor is more readily available.
Application Insights:
The large enterprises segment accounted for the largest market share in 2017 and is expected to continue its dominance over the forecast period. Audio translation services are widely used by large enterprises as these companies have a global presence with multiple departments that need to communicate with each other. The audio translation tool helps reduce communication barriers and provides clarity of thought in meetings, which aids in improving overall business productivity.
Audio translations service providers offer flexible payment options along with quality assurance measures, which encourages adoption among larger organizations. Larger organizations usually have a dedicated team for audio translation; however, smaller businesses and individual translators can also take advantage of this service if they so desire. The small-to-medium size enterprise (SME) segment is anticipated to witness considerable growth over the forecast period owing to increased digitalization across all industries worldwide coupled with rising demand from abroad for translated content especially on online platforms like YouTube, Google+, etc.
Regional Analysis:
North America dominated the global market in 2017. This can be attributed to the presence of a large number of global players such as Global Audio Language Group, Inc.; SDL; and Voices.com, Inc., along with high spending capacity of audio translation users in this region. The U.S.-based companies are focusing on expanding their operations across other regions by offering their services globally via partnerships or acquisitions. For instance, in January 2018, Google LLC acquired Fluent Arabic Translator (FAT), which offers professional translations from English to Arabic and vice versa for professional purposes through its online platform (Google Cloud).
Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period owing to increasing demand for foreign languages among students.
Growth Factors:
- Increasing demand for audio translation services from the business sector
- Rapid growth of the tourism industry and the need for interpretation services in multiple languages
- The increasing use of multimedia and online content that needs to be translated into different languages
- The globalization of businesses and the need for communication across different cultures
- The rise in number of refugees and immigrants who require language assistance
Scope Of The Report
Report Attributes
Report Details
Report Title
Audio Translation Service Market Research Report
By Type
Outsourcing, Offshoring
By Application
Large Enterprises, SMEs
By Companies
AMPLEXOR International, AM VIETNAM TRANSLATION, Ball Media Innovations, LanguageLine Solutions, Global Lingo, GMR Transcription Services, JBI Studios, Language Connect, Lingosphere Group, WeDTP, PRESTO translation agency, RedLine Language Services LLC, Rubric, Transcription Panda, Trusted Translations, Ulatus (Crimson Interactive), Voquent
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
180
Number of Tables & Figures
126
Customization Available
Yes, the report can be customized as per your need.
Global Audio Translation Service Market Report Segments:
The global Audio Translation Service market is segmented on the basis of:
Types
Outsourcing, Offshoring
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
Large Enterprises, SMEs
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:
- AMPLEXOR International
- AM VIETNAM TRANSLATION
- Ball Media Innovations
- LanguageLine Solutions
- Global Lingo
- GMR Transcription Services
- JBI Studios
- Language Connect
- Lingosphere Group
- WeDTP
- PRESTO translation agency
- RedLine Language Services LLC
- Rubric
- Transcription Panda
- Trusted Translations
- Ulatus (Crimson Interactive)
- Voquent
Highlights of The Audio Translation Service 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:
- Outsourcing
- Offshoring
- By Application:
- Large Enterprises
- SMEs
- 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 Audio Translation Service 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
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- Product & Brand Management
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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?
Audio translation service is a type of online service that allows users to translate audio files from one language to another. This can be helpful for people who need to translate audio recordings for use in other languages, or for people who want to learn new languages by listening to translations of popular audio content.
Some of the key players operating in the audio translation service market are AMPLEXOR International, AM VIETNAM TRANSLATION, Ball Media Innovations, LanguageLine Solutions, Global Lingo, GMR Transcription Services, JBI Studios, Language Connect, Lingosphere Group, WeDTP, PRESTO translation agency, RedLine Language Services LLC, Rubric, Transcription Panda, Trusted Translations, Ulatus (Crimson Interactive), Voquent.
The audio translation service market is expected to register a CAGR of 10.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Audio Translation Service 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 Audio Translation Service Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Audio Translation Service 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 Audio Translation Service 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 Audio Translation Service Market Size & Forecast, 2018-2028
4.5.1 Audio Translation Service Market Size and Y-o-Y Growth
4.5.2 Audio Translation Service Market Absolute $ Opportunity
Chapter 5 Global Audio Translation Service 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 Audio Translation Service Market Size Forecast by Type
5.2.1 Outsourcing
5.2.2 Offshoring
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Audio Translation Service 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 Audio Translation Service Market Size Forecast by Applications
6.2.1 Large Enterprises
6.2.2 SMEs
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Audio Translation Service 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 Audio Translation Service 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 Audio Translation Service Analysis and Forecast
9.1 Introduction
9.2 North America Audio Translation Service 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 Audio Translation Service Market Size Forecast by Type
9.6.1 Outsourcing
9.6.2 Offshoring
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 Audio Translation Service Market Size Forecast by Applications
9.10.1 Large Enterprises
9.10.2 SMEs
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 Audio Translation Service Analysis and Forecast
10.1 Introduction
10.2 Europe Audio Translation Service 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 Audio Translation Service Market Size Forecast by Type
10.6.1 Outsourcing
10.6.2 Offshoring
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 Audio Translation Service Market Size Forecast by Applications
10.10.1 Large Enterprises
10.10.2 SMEs
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 Audio Translation Service Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Audio Translation Service 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 Audio Translation Service Market Size Forecast by Type
11.6.1 Outsourcing
11.6.2 Offshoring
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 Audio Translation Service Market Size Forecast by Applications
11.10.1 Large Enterprises
11.10.2 SMEs
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 Audio Translation Service Analysis and Forecast
12.1 Introduction
12.2 Latin America Audio Translation Service 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 Audio Translation Service Market Size Forecast by Type
12.6.1 Outsourcing
12.6.2 Offshoring
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 Audio Translation Service Market Size Forecast by Applications
12.10.1 Large Enterprises
12.10.2 SMEs
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) Audio Translation Service Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Audio Translation Service 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) Audio Translation Service Market Size Forecast by Type
13.6.1 Outsourcing
13.6.2 Offshoring
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) Audio Translation Service Market Size Forecast by Applications
13.10.1 Large Enterprises
13.10.2 SMEs
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 Audio Translation Service Market: Competitive Dashboard
14.2 Global Audio Translation Service Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 AMPLEXOR International
14.3.2 AM VIETNAM TRANSLATION
14.3.3 Ball Media Innovations
14.3.4 LanguageLine Solutions
14.3.5 Global Lingo
14.3.6 GMR Transcription Services
14.3.7 JBI Studios
14.3.8 Language Connect
14.3.9 Lingosphere Group
14.3.10 WeDTP
14.3.11 PRESTO translation agency
14.3.12 RedLine Language Services LLC
14.3.13 Rubric
14.3.14 Transcription Panda
14.3.15 Trusted Translations
14.3.16 Ulatus (Crimson Interactive)
14.3.17 Voquent
