Market Overview:
The global language translation software and 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 language translation software and services from various end-user industries, such as commercial, educational, financial, military, and others. In addition, the growing demand for cloud-based translation solutions is also contributing to the growth of this market.
Product Definition:
translation software is a program that helps you translate one language into another. There are many different translation software programs on the market, and they all work a little differently. Some programs allow you to type in a sentence or paragraph and then automatically translate it into another language, while others require you to type in the word or phrase you want translated and then provide a list of possible translations.
Rules-based Machine Translation:
The global rules-based machine translation industry was valued at USD 605.0 million in 2016 and is expected to grow at a CAGR of XX% over the forecast period. The industry is majorly driven by the growing demand for language translation software & services across various industries such as media & entertainment, education, banking, financial services, and insurance among others.
Statistical-based Machine Translation:
Statistical - based machine translation is a type of computer-aided language translation that makes use of statistical analysis and rule-based machine processing to generate the target text. The process involves the formulation of rules or algorithms that govern how to translate particular words, phrases or entire documents. These statistical models are then used by an MT software application for performing automatic language conversion.
Application Insights:
The other application segment includes applications such as medical, legal and military. The financial application segment is expected to witness the highest growth over the forecast period owing to rising demand for global language translation software & services among banks, financial institutions and trading companies.
The commercial application segment accounted for a revenue share of more than 50% in 2017. This high share is attributable to growing use of these solutions by companies operating across various industries including IT, telecoms and BFSI for managing their communication with customers or suppliers from another country. For instance, a multinational company may have offices or representatives in different countries offering products or services in different languages e.g.
Regional Analysis:
The Asia Pacific region dominated the global market in 2017. This can be attributed to increasing investments in artificial intelligence and natural language processing by companies such as Google, Microsoft Corporation, IBM Corporation, and Alibaba Group Holding Ltd. The growing adoption of these technologies is also a key factor driving the growth of this regional market. Furthermore, increased spending on travel and tourism by countries such as China and India has led to an increase in demand for translation services across various application areas including tourism websites, restaurant menus & reviews online etc.
North America is expected to grow at a significant rate over the forecast period owing to technological advancements coupled with increased funding for research activities related to artificial intelligence (AI) techniques used for automatic machine translation processes across all languages from government agencies like Defense Advanced Research Projects Agency (DARPA), National Science Foundation (NSF), U.S Department of State among others).
Growth Factors:
- Increasing demand for language translation software and services from small and medium-sized businesses (SMBs) due to globalization.
- Rapid growth in the number of internet users, especially in developing countries, who are looking for online translation services to communicate with people from other parts of the world.
- Rising demand for language translation software and services in the healthcare sector to facilitate communication between doctors and patients belonging to different linguistic backgrounds.
- Proliferation of mobile devices and apps that offer instant translations, which is fueling the demand for Translation Software as a Service (TSaaS).
Scope Of The Report
Report Attributes
Report Details
Report Title
Language Translation Software & Services Market Research Report
By Type
Rules-based Machine Translation, Statistical-based Machine Translation, Hybrid Machine Translation
By Application
Commercial, Educational, Financial, Military, Other
By Companies
IBM, Microsoft, Google, Global Linguist Solutions, Systran, Lionbridge Technologies, Cloudwords, Babylon Software, Thebigword
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
174
Number of Tables & Figures
122
Customization Available
Yes, the report can be customized as per your need.
Global Language Translation Software & Services Market Report Segments:
The global Language Translation Software & Services market is segmented on the basis of:
Types
Rules-based Machine Translation, Statistical-based Machine Translation, Hybrid Machine Translation
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
Commercial, Educational, Financial, Military, Other
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:
- IBM
- Microsoft
- Google
- Global Linguist Solutions
- Systran
- Lionbridge Technologies
- Cloudwords
- Babylon Software
- Thebigword
Highlights of The Language Translation Software & 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:
- Rules-based Machine Translation
- Statistical-based Machine Translation
- Hybrid Machine Translation
- By Application:
- Commercial
- Educational
- Financial
- Military
- Other
- 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 Language Translation Software & 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
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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?
Language translation software and services are computer programs or applications that allow users to translate text from one language into another. The translations may be done automatically, or the user may have to manually enter the translations.
Some of the major players in the language translation software & services market are IBM, Microsoft, Google, Global Linguist Solutions, Systran, Lionbridge Technologies, Cloudwords, Babylon Software, Thebigword.
The language translation software & 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 Language Translation Software & 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 Language Translation Software & Services Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Language Translation Software & 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 Language Translation Software & 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 Language Translation Software & Services Market Size & Forecast, 2018-2028
4.5.1 Language Translation Software & Services Market Size and Y-o-Y Growth
4.5.2 Language Translation Software & Services Market Absolute $ Opportunity
Chapter 5 Global Language Translation Software & 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 Language Translation Software & Services Market Size Forecast by Type
5.2.1 Rules-based Machine Translation
5.2.2 Statistical-based Machine Translation
5.2.3 Hybrid Machine Translation
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Language Translation Software & 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 Language Translation Software & Services Market Size Forecast by Applications
6.2.1 Commercial
6.2.2 Educational
6.2.3 Financial
6.2.4 Military
6.2.5 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Language Translation Software & 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 Language Translation Software & 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 Language Translation Software & Services Analysis and Forecast
9.1 Introduction
9.2 North America Language Translation Software & 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 Language Translation Software & Services Market Size Forecast by Type
9.6.1 Rules-based Machine Translation
9.6.2 Statistical-based Machine Translation
9.6.3 Hybrid Machine Translation
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 Language Translation Software & Services Market Size Forecast by Applications
9.10.1 Commercial
9.10.2 Educational
9.10.3 Financial
9.10.4 Military
9.10.5 Other
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 Language Translation Software & Services Analysis and Forecast
10.1 Introduction
10.2 Europe Language Translation Software & 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 Language Translation Software & Services Market Size Forecast by Type
10.6.1 Rules-based Machine Translation
10.6.2 Statistical-based Machine Translation
10.6.3 Hybrid Machine Translation
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 Language Translation Software & Services Market Size Forecast by Applications
10.10.1 Commercial
10.10.2 Educational
10.10.3 Financial
10.10.4 Military
10.10.5 Other
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 Language Translation Software & Services Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Language Translation Software & 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 Language Translation Software & Services Market Size Forecast by Type
11.6.1 Rules-based Machine Translation
11.6.2 Statistical-based Machine Translation
11.6.3 Hybrid Machine Translation
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 Language Translation Software & Services Market Size Forecast by Applications
11.10.1 Commercial
11.10.2 Educational
11.10.3 Financial
11.10.4 Military
11.10.5 Other
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 Language Translation Software & Services Analysis and Forecast
12.1 Introduction
12.2 Latin America Language Translation Software & 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 Language Translation Software & Services Market Size Forecast by Type
12.6.1 Rules-based Machine Translation
12.6.2 Statistical-based Machine Translation
12.6.3 Hybrid Machine Translation
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 Language Translation Software & Services Market Size Forecast by Applications
12.10.1 Commercial
12.10.2 Educational
12.10.3 Financial
12.10.4 Military
12.10.5 Other
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) Language Translation Software & Services Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Language Translation Software & 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) Language Translation Software & Services Market Size Forecast by Type
13.6.1 Rules-based Machine Translation
13.6.2 Statistical-based Machine Translation
13.6.3 Hybrid Machine Translation
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) Language Translation Software & Services Market Size Forecast by Applications
13.10.1 Commercial
13.10.2 Educational
13.10.3 Financial
13.10.4 Military
13.10.5 Other
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 Language Translation Software & Services Market: Competitive Dashboard
14.2 Global Language Translation Software & Services Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 IBM
14.3.2 Microsoft
14.3.3 Google
14.3.4 Global Linguist Solutions
14.3.5 Systran
14.3.6 Lionbridge Technologies
14.3.7 Cloudwords
14.3.8 Babylon Software
14.3.9 Thebigword
