Market Overview:
The global document translation services market is expected to grow at a CAGR of 7.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for document translation services from various end-user segments, such as individual, enterprise, government and others. Additionally, the growing trend of online service is also contributing significantly to the growth of this market. However, lack of awareness about document translation services among end-users is restraining the growth of this market to some extent. Based on type, the global document translation services market can be segmented into online service and offline service. The online service segment is projected to grow at a higher CAGR during the forecast period owing to its advantages such as convenience and time saving. Based on application, the global document translation services market can be divided into individual, enterprise and government segments.
Product Definition:
Document Translation Services refers to the translation of documents from one language to another. The purpose of document translation services is to ensure that communication between different parties is efficient and accurate. In a globalized world, it is increasingly important for businesses to be able to communicate with customers and partners in their native languages. Document translation services make this possible by translating documents into the appropriate language.
Online Service:
Online service is a set of tools and processes for providing multilingual content in the form of text, voice, and video. Online services are used by organizations to provide their customers with products or services in different languages. The global online service market size was valued at USD 23,716.1 million in 2016 and is expected to grow at a CAGR of XX% over the forecast period.
Offline Service:
The offline service is used by the companies that have a large volume of documents to be translated. The company brings the tapes, CDs/DVDs, or USB drives to the translation agency and requests for document translation. The offline service is cost-effective as compared to other online services as there is no need for an internet connection; hence it's called an Offline Translate Service (OTS).
Application Insights:
The enterprise application segment accounted for the largest revenue share of over 60% in 2017. The need to maintain existing and new customer relationships, business expansion, and an increase in cross-border transactions are some of the key factors driving the demand for enterprise services across various industries.
The individual application segment is expected to witness a CAGR of XX% from 2018 to 2030 owing to increasing awareness about online translation tools among individuals seeking translations in their native language into English or another foreign language. The availability of free online translation tools has enabled individuals seeking translations between languages other than their own native tongue. This factor is projected to drive market growth over the forecast period as many enterprises focus on providing translated content only in local languages thereby rendering it inaccessible outside regional tongues thus impacting overall revenue generation negatively.
Regional Analysis:
North America dominated the market in 2017. This can be attributed to the presence of a large number of document translation service providers, increased outsourcing activities, and high demand for foreign language translations. The Asia Pacific is expected to witness significant growth over the forecast period owing to increasing outsourcing activities in this region coupled with rising demand for foreign language translations. Increasing penetration of internet services and mobile phones has led to an increase in online document translation services across this region. Moreover, growing trade relations between Asian countries are likely to boost regional growth further.
The Latin American market is also anticipatedto exhibit considerable growth over the forecast period owing to increasing awareness about global Document Translation Services Market among individuals as well as enterprises based on different sectors such as IT & telecoms, business process Outsourcing (BPO), banking & financial services (BFS), legal & advisory (L&A) etc.
Growth Factors:
- Increasing demand for document translation services from the small and medium-sized businesses (SMBs) segment.
- Rapid growth in the e-commerce sector, which is resulting in an increase in the number of online transactions that require translation services.
- The increasing popularity of multilingual websites among businesses looking to expand their reach to new markets.
- The growing demand for translations into Asian languages, especially Mandarin and Japanese, due to the rising economic power of countries such as China and Japan.
- The increasing use of machine translation tools by businesses seeking to reduce costs associated with document translation
Scope Of The Report
Report Attributes
Report Details
Report Title
Document Translation Services Market Research Report
By Type
Online Service, Offline Service
By Application
Individual, Enterprise, Government, Others
By Companies
Rev, OneHourTranslation, ABBYY, Babylon Software, Gengo, Translated, Smartling, Amplexor, Net-Translators, LanguageLine Solutions, TOMEDES, TranslateMedia, Localization Guru, RWS, 24 Hour Translation
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
250
Number of Tables & Figures
175
Customization Available
Yes, the report can be customized as per your need.
Global Document Translation Services Market Report Segments:
The global Document Translation 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, Government, 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:
- Rev
- OneHourTranslation
- ABBYY
- Babylon Software
- Gengo
- Translated
- Smartling
- Amplexor
- Net-Translators
- LanguageLine Solutions
- TOMEDES
- TranslateMedia
- Localization Guru
- RWS
- 24 Hour Translation
Highlights of The Document Translation 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
- Government
- 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 Document Translation 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.
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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?
Document translation services are a type of professional translation service that helps translate written documents from one language to another. Translation services can be used to translate business letters, contracts, emails, and other types of text-based documents.
Some of the major companies in the document translation services market are Rev, OneHourTranslation, ABBYY, Babylon Software, Gengo, Translated, Smartling, Amplexor, Net-Translators, LanguageLine Solutions, TOMEDES, TranslateMedia, Localization Guru, RWS, 24 Hour Translation.
The document translation services market is expected to register a CAGR of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Document Translation 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 Document Translation Services Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Document Translation 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 Document Translation 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 Document Translation Services Market Size & Forecast, 2018-2028
4.5.1 Document Translation Services Market Size and Y-o-Y Growth
4.5.2 Document Translation Services Market Absolute $ Opportunity
Chapter 5 Global Document Translation 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 Document Translation 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 Document Translation 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 Document Translation Services Market Size Forecast by Applications
6.2.1 Individual
6.2.2 Enterprise
6.2.3 Government
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Document Translation 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 Document Translation 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 Document Translation Services Analysis and Forecast
9.1 Introduction
9.2 North America Document Translation 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 Document Translation 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 Document Translation Services Market Size Forecast by Applications
9.10.1 Individual
9.10.2 Enterprise
9.10.3 Government
9.10.4 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 Document Translation Services Analysis and Forecast
10.1 Introduction
10.2 Europe Document Translation 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 Document Translation 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 Document Translation Services Market Size Forecast by Applications
10.10.1 Individual
10.10.2 Enterprise
10.10.3 Government
10.10.4 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 Document Translation Services Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Document Translation 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 Document Translation 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 Document Translation Services Market Size Forecast by Applications
11.10.1 Individual
11.10.2 Enterprise
11.10.3 Government
11.10.4 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 Document Translation Services Analysis and Forecast
12.1 Introduction
12.2 Latin America Document Translation 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 Document Translation 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 Document Translation Services Market Size Forecast by Applications
12.10.1 Individual
12.10.2 Enterprise
12.10.3 Government
12.10.4 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) Document Translation Services Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Document Translation 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) Document Translation 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) Document Translation Services Market Size Forecast by Applications
13.10.1 Individual
13.10.2 Enterprise
13.10.3 Government
13.10.4 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 Document Translation Services Market: Competitive Dashboard
14.2 Global Document Translation Services Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Rev
14.3.2 OneHourTranslation
14.3.3 ABBYY
14.3.4 Babylon Software
14.3.5 Gengo
14.3.6 Translated
14.3.7 Smartling
14.3.8 Amplexor
14.3.9 Net-Translators
14.3.10 LanguageLine Solutions
14.3.11 TOMEDES
14.3.12 TranslateMedia
14.3.13 Localization Guru
14.3.14 RWS
14.3.15 24 Hour Translation
