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The Language Translation Software and Services market worldwide is projected to grow by US$19.6 Billion, driven by a compounded growth of 5.2%. Solutions, one of the segments analyzed and sized in this study, displays the potential to grow at over 4.8%. The shifting dynamics supporting this growth makes it critical for businesses in this space to keep abreast of the changing pulse of the market. Poised to reach over US$38.7 Billion by the year 2025, Solutions will bring in healthy gains adding significant momentum to global growth.
Representing the developed world, the United States will maintain a 4.7% growth momentum. Within Europe, which continues to remain an important element in the world economy, Germany will add over US$1.8 Billion to the region's size and clout in the next 5 to 6 years. Over US$3.6 Billion worth of projected demand in the region will come from Rest of Europe markets. In Japan, Solutions will reach a market size of US$1.1 Billion by the close of the analysis period. As the world’s second largest economy and the new game changer in global markets, China exhibits the potential to grow at 7.8% over the next couple of years and add approximately US$1.9 Billion in terms of addressable opportunity for the picking by aspiring businesses and their astute leaders. Presented in visually rich graphics are these and many more need-to-know quantitative data important in ensuring quality of strategy decisions, be it entry into new markets or allocation of resources within a portfolio. Several macroeconomic factors and internal market forces will shape growth and development of demand patterns in emerging countries in Asia-Pacific, Latin America and the Middle East. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.
Competitors identified in this market include, among others:
Representing the developed world, the United States will maintain a 4.7% growth momentum. Within Europe, which continues to remain an important element in the world economy, Germany will add over US$1.8 Billion to the region's size and clout in the next 5 to 6 years. Over US$3.6 Billion worth of projected demand in the region will come from Rest of Europe markets. In Japan, Solutions will reach a market size of US$1.1 Billion by the close of the analysis period. As the world’s second largest economy and the new game changer in global markets, China exhibits the potential to grow at 7.8% over the next couple of years and add approximately US$1.9 Billion in terms of addressable opportunity for the picking by aspiring businesses and their astute leaders. Presented in visually rich graphics are these and many more need-to-know quantitative data important in ensuring quality of strategy decisions, be it entry into new markets or allocation of resources within a portfolio. Several macroeconomic factors and internal market forces will shape growth and development of demand patterns in emerging countries in Asia-Pacific, Latin America and the Middle East. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.
Competitors identified in this market include, among others:
- AMPLEXOR International S.A.
- AppTek
- Google Inc.
- Global Linguist Solutions LLC
- International Business Machines Corporation
- Keywords Studios Plc
- LanguageLine Solutions
- Lionbridge Technologies Inc.
- Manpower Group Solutions
- Microsoft Corporation
- RWS Group
- SDL plc
- STAR Group
- SYSTRAN S.A.
- thebigword Group Plc
- TransPerfect Translations International Inc
- Welocalize Inc.
- Xerox Corporation.
Note: Product cover images may vary from those shown
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I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Language Translation Market Surges Ahead
Translation Technology Continues to Evolve
Key Trends Summarized
Globalization Drives Demand
US - The Single Largest Market
Developing Economies to Drive Growth
Global Competitor Market Shares
Competition
EXHIBIT 1: Language Translation Software Competitor Market Share Scenario Worldwide (in %): 2020
Recent market Activity
2. FOCUS ON SELECT PLAYERS
AMPLEXOR International S.A. (Luxembourg)
AppTek (USA)
Google Inc. (USA)
Global Linguist Solutions LLC (USA)
International Business Machines Corporation (IBM) (USA)
Keywords Studios Plc (Ireland)
LanguageLine Solutions (USA)
Lionbridge Technologies Inc. (USA)
Manpower Group Solutions (USA)
Microsoft Corporation (USA)
RWS Group (UK)
SDL plc (UK)
STAR Group (Switzerland)
SYSTRAN S.A. (France)
thebigword Group Plc (UK)
TransPerfect Translations International Inc (USA)
Welocalize Inc. (USA)
Xerox Corporation (USA)
3. MARKET TRENDS & DRIVERS
Rising Data Volumes to Catalyze Growth
EXHIBIT 2: Global Big Data and Business Analytics Revenues in US$ Billion: 2014 to 2022
EXHIBIT 3: Global Datsphere Volume in Zettabytes: 2014 to 2022
Language Translation Industry Efforts to Deal with Big Data
Cloud-based Translation Tools Tap Big Data
Big Data Extends Scope of Language Translation
Big Data to Drive Language Translation Industry
Rise in Popularity of Non-English Languages in eCommerce and other Business Areas Drives the Market for Language Translation Services
EXHIBIT 4: Leading Languages Used on the Internet in Terms of % of Internet Users: 2019
EXHIBIT 5: Global E-Commerce Market as a % of Retail Sales for the Period 2017-2023
EXHIBIT 6: Global B2C E-Commerce Sales in US$ Trillion for the Years 2017, 2019, 2021 and 2023
Technological Advances to Fuel Growth in Language Technology
Language Translation Opportunities Enabled by AI
AI to Drive Down Translation Costs
Adaptive and Neural Machine Translations Gain Momentum
Machine Translation for Domain/ Industry Specific Machine Translation
Voice Search Gains Traction
EXHIBIT 7: Percentage of Internet Users Using Voice Interfaces Each Month: 2020
Growth in Demand for Video Translation Solutions and Services
Transcreation Services to Witness Rising Demand
Unsupervised Machine Translation: An Advanced Approach for Translating in More Languages
Iterative Process Holds Promise in Achieving High-Quality Translations
Artificial Speech Translation: An Emerging Domain
Growing Emphasis on Web Localization
Hybrid Machine Translation Blends Statistics and Rules
Cloud Based Services on the Rise
Translation Apps Gain Interest
Rise of Internet-based Business Operations Lends Traction to Market
EXHIBIT 8: Number of Internet Users (in Million) and Percentage Penetration Rate (%) by Region for 2019
Rise in Global Tourism to Increase Demand for Voice Translation Solutions and Services
EXHIBIT 9: International Tourist Arrivals by Region: 2018
Social Media Marketing to Lend Traction for Translation
EXHIBIT 10: Global Number of Active Social Media Users (in Million): 2015-2020
EXHIBIT 11: World's Most Accessible Social Platforms: 2019
Mobile Technology Promotes Machine Translation
Significance of Smartphones in Language Translation Industry
EXHIBIT 12: Top Ten Countries by Number of Smartphone Users in Millions (2019)
Human Translators - Still in Demand
Burgeoning Demand for Financial Translations Services
Localization in Medical Sector
Translation Services Witness Broader Adoption across Organizations and Businesses
eLearning Drives Opportunities
EXHIBIT 13: World eLearning Market in US$ Billion: 2016-2024
Crowdsourcing Grows Stronger
Social Media Marketing to Lend Traction for Translation
Companies Focus on Making Translation Services More Cost-Effective
Industry Faces Copyright Issues
AN INSIGHT INTO LANGUAGE TRANSLATION INDUSTRY
Translation Service: An Introduction
Evolution of Language Translation Industry
Automated Translations - A Historic Preview
Industry Structure
An Overview of Language Industry Services
Recent Advancements in Machine Translation
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
GEOGRAPHIC MARKET ANALYSIS
UNITED STATES
Demand on Rise for Translation Services from Medical Device Sector
Market Analytics
CANADA
Market Overview
Market Analytics
JAPAN
Market Overview
Market Analytics
CHINA
Market Overview
Market Analytics
EUROPE
Cultural Diversity Drives Market Growth
Market Analytics
FRANCE
High Demand for French Language Translation Service Providers
Market Analytics
GERMANY
ITALY
UNITED KINGDOM
Rise in Demand for Welsh Translation Services
Market Analytics
SPAIN
Market Overview
Market Analytics
RUSSIA
REST OF EUROPE
ASIA-PACIFIC
AUSTRALIA
INDIA
Language Translation Sector Gains Impetus
Outlook
Market Analytics
SOUTH KOREA
REST OF ASIA-PACIFIC
LATIN AMERICA
Steady Growth Ahead
Market Analytics
ARGENTINA
BRAZIL
MEXICO
REST OF LATIN AMERICA
MIDDLE EAST
IRAN
ISRAEL
SAUDI ARABIA
Translation Industry Witnesses Rapid Growth
Market Analytics
UNITED ARAB EMIRATES
REST OF MIDDLE EAST
AFRICA
IV. COMPETITION
Total Companies Profiled : 261 (including Divisions/Subsidiaries - 270)
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Language Translation Market Surges Ahead
Translation Technology Continues to Evolve
Key Trends Summarized
Globalization Drives Demand
US - The Single Largest Market
Developing Economies to Drive Growth
Global Competitor Market Shares
Competition
EXHIBIT 1: Language Translation Software Competitor Market Share Scenario Worldwide (in %): 2020
Recent market Activity
2. FOCUS ON SELECT PLAYERS
AMPLEXOR International S.A. (Luxembourg)
AppTek (USA)
Google Inc. (USA)
Global Linguist Solutions LLC (USA)
International Business Machines Corporation (IBM) (USA)
Keywords Studios Plc (Ireland)
LanguageLine Solutions (USA)
Lionbridge Technologies Inc. (USA)
Manpower Group Solutions (USA)
Microsoft Corporation (USA)
RWS Group (UK)
SDL plc (UK)
STAR Group (Switzerland)
SYSTRAN S.A. (France)
thebigword Group Plc (UK)
TransPerfect Translations International Inc (USA)
Welocalize Inc. (USA)
Xerox Corporation (USA)
3. MARKET TRENDS & DRIVERS
Rising Data Volumes to Catalyze Growth
EXHIBIT 2: Global Big Data and Business Analytics Revenues in US$ Billion: 2014 to 2022
EXHIBIT 3: Global Datsphere Volume in Zettabytes: 2014 to 2022
Language Translation Industry Efforts to Deal with Big Data
Cloud-based Translation Tools Tap Big Data
Big Data Extends Scope of Language Translation
Big Data to Drive Language Translation Industry
Rise in Popularity of Non-English Languages in eCommerce and other Business Areas Drives the Market for Language Translation Services
EXHIBIT 4: Leading Languages Used on the Internet in Terms of % of Internet Users: 2019
EXHIBIT 5: Global E-Commerce Market as a % of Retail Sales for the Period 2017-2023
EXHIBIT 6: Global B2C E-Commerce Sales in US$ Trillion for the Years 2017, 2019, 2021 and 2023
Technological Advances to Fuel Growth in Language Technology
Language Translation Opportunities Enabled by AI
AI to Drive Down Translation Costs
Adaptive and Neural Machine Translations Gain Momentum
Machine Translation for Domain/ Industry Specific Machine Translation
Voice Search Gains Traction
EXHIBIT 7: Percentage of Internet Users Using Voice Interfaces Each Month: 2020
Growth in Demand for Video Translation Solutions and Services
Transcreation Services to Witness Rising Demand
Unsupervised Machine Translation: An Advanced Approach for Translating in More Languages
Iterative Process Holds Promise in Achieving High-Quality Translations
Artificial Speech Translation: An Emerging Domain
Growing Emphasis on Web Localization
Hybrid Machine Translation Blends Statistics and Rules
Cloud Based Services on the Rise
Translation Apps Gain Interest
Rise of Internet-based Business Operations Lends Traction to Market
EXHIBIT 8: Number of Internet Users (in Million) and Percentage Penetration Rate (%) by Region for 2019
Rise in Global Tourism to Increase Demand for Voice Translation Solutions and Services
EXHIBIT 9: International Tourist Arrivals by Region: 2018
Social Media Marketing to Lend Traction for Translation
EXHIBIT 10: Global Number of Active Social Media Users (in Million): 2015-2020
EXHIBIT 11: World's Most Accessible Social Platforms: 2019
Mobile Technology Promotes Machine Translation
Significance of Smartphones in Language Translation Industry
EXHIBIT 12: Top Ten Countries by Number of Smartphone Users in Millions (2019)
Human Translators - Still in Demand
Burgeoning Demand for Financial Translations Services
Localization in Medical Sector
Translation Services Witness Broader Adoption across Organizations and Businesses
eLearning Drives Opportunities
EXHIBIT 13: World eLearning Market in US$ Billion: 2016-2024
Crowdsourcing Grows Stronger
Social Media Marketing to Lend Traction for Translation
Companies Focus on Making Translation Services More Cost-Effective
Industry Faces Copyright Issues
AN INSIGHT INTO LANGUAGE TRANSLATION INDUSTRY
Translation Service: An Introduction
Evolution of Language Translation Industry
Automated Translations - A Historic Preview
Industry Structure
An Overview of Language Industry Services
Recent Advancements in Machine Translation
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
GEOGRAPHIC MARKET ANALYSIS
UNITED STATES
Demand on Rise for Translation Services from Medical Device Sector
Market Analytics
CANADA
Market Overview
Market Analytics
JAPAN
Market Overview
Market Analytics
CHINA
Market Overview
Market Analytics
EUROPE
Cultural Diversity Drives Market Growth
Market Analytics
FRANCE
High Demand for French Language Translation Service Providers
Market Analytics
GERMANY
ITALY
UNITED KINGDOM
Rise in Demand for Welsh Translation Services
Market Analytics
SPAIN
Market Overview
Market Analytics
RUSSIA
REST OF EUROPE
ASIA-PACIFIC
AUSTRALIA
INDIA
Language Translation Sector Gains Impetus
Outlook
Market Analytics
SOUTH KOREA
REST OF ASIA-PACIFIC
LATIN AMERICA
Steady Growth Ahead
Market Analytics
ARGENTINA
BRAZIL
MEXICO
REST OF LATIN AMERICA
MIDDLE EAST
IRAN
ISRAEL
SAUDI ARABIA
Translation Industry Witnesses Rapid Growth
Market Analytics
UNITED ARAB EMIRATES
REST OF MIDDLE EAST
AFRICA
IV. COMPETITION
Total Companies Profiled : 261 (including Divisions/Subsidiaries - 270)
Note: Product cover images may vary from those shown
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