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Language Translation Software and Services - Global Market Trajectory & Analytics

  • ID: 2228040
  • Report
  • April 2021
  • Region: Global
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • AppTek
  • Google Inc.
  • LanguageLine Solutions
  • RWS Group
  • SYSTRAN S.A.
  • Welocalize Inc.
The global market for Language Translation Software and Servicesis projected to reach US$65.6 Billion by 2025, driven by rising globalization and economic interdependence among countries in a world where over 7,000 languages are spoken. This makes translation important for businesses to connect with their target audiences. Increased trade and business with overseas markets is making translation vital for relevant packaging and adherence to labelling standards.With emerging markets becoming top engines of global growth, new languages are gaining significance i.e. Mandarin, Arabic, Spanish, Portuguese, Hindi & Bengali. Few of the noteworthy trends in the market include rise in travel and tourism and the ensuing demand for language translation services; gaining prominence of translation of educational materials as globalization converges with education; emergence of neural machine translation (NMT) to revolutionize the role of artificial intelligence in human Language translation. Not all businesses are continuing to depend on human translators and interpreters. Machines are picking up most of the share in the language translation and interpretation market. In the coming few years, machines will emerge as primary convertors. However, human expertise will still be needed, albeit in the form of secondary resource. This implies that the traditional role of people used as translators and interpreters of foreign language will witness a major change. Humans will be required to work in collaboration with machines, in the new world of business language translation going forward. It is estimated that by the 2025, over 50% of business translations will be performed by NMT. The emergence of Artificial Intelligence (AI) and cloud-based machine translation (MT) technologies will create significant opportunity for language services providers (LSPs), extending advanced capabilities and considerable reduction in costs of enterprise translation. One of the key advantages that AI offers to businesses is its capability of instantly capturing and contextualizing the intricacies of languages that would otherwise be challenging to achieve through other machine translation methods. Consequently, tools, such as virtual assistants, would be made available in multiple languages as technology majors, such as Microsoft, Apple, and Google, target on further breaking the technological barriers associated with artificial intelligence. AI is anticipated to replace human-based translation in the future. However, for the present, and for a few more years into the future, human translators would continue to be in demand. Video translation is expected to be one of the major trends in the translation industry in the coming years, particularly considering that over 80% of the content provided over the internet is presented through videos. Furthermore, the growing market for e-learning presents untapped potential in translation of e-learning content. The emergence of machine translation led to the creation of custom translation engines with customized vocabulary, domain specific dictionaries, and preferences.

Select Competitors (Total 270 Featured):
  • AMPLEXOR International S.A.
  • AppTek
  • Babylon Ltd.
  • Global Linguist Solutions LLC
  • Google Inc.
  • IBM Corp.
  • LanguageLine Solutions
  • Lionbridge Technologies Inc.
  • Moravia IT a.s
  • RWS Group
  • SDL plc
  • SYSTRAN S.A.
  • thebigword Group Plc
  • TransPerfect Translations International Inc
  • Welocalize Inc.
  • Xerox Corporation
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • AppTek
  • Google Inc.
  • LanguageLine Solutions
  • RWS Group
  • SYSTRAN S.A.
  • Welocalize Inc.
I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Impact of Covid-19 and a Looming Global Recession
  • 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
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 1: Global Big Data and Business Analytics Revenues in US$ Billion: 2014 to 2022
  • Exhibit 2: 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
  • Leading Languages Used on the Internet in Terms of % of Internet Users: 2019
  • Exhibit 3: Global E-Commerce Market as a % of Retail Sales for the Period 2017-2023
  • Exhibit 4: 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
  • 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 5: 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
  • International Tourist Arrivals by Region: 2018
  • Social Media Marketing to Lend Traction for Translation
  • Global Number of Active Social Media Users (in Million): 2015-2020
  • World's Most Accessible Social Platforms: 2019
  • Mobile Technology Promotes Machine Translation
  • Significance of Smartphones in Language Translation Industry
  • 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
  • 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
  • UNITED STATES
  • Demand on Rise for Translation Services from Medical Device Sector
  • CANADA
  • Market Overview
  • JAPAN
  • Market Overview
  • CHINA
  • Market Overview
  • EUROPE
  • Cultural Diversity Drives Market Growth
  • FRANCE
  • High Demand for French Language Translation Service Providers
  • GERMANY
  • ITALY
  • UNITED KINGDOM
  • Rise in Demand for Welsh Translation Services
  • SPAIN
  • Market Overview
  • RUSSIA
  • REST OF EUROPE
  • ASIA-PACIFIC
  • AUSTRALIA
  • INDIA
  • Language Translation Sector Gains Impetus
  • Outlook
  • SOUTH KOREA
  • REST OF ASIA-PACIFIC
  • LATIN AMERICA
  • Steady Growth Ahead
  • ARGENTINA
  • BRAZIL
  • MEXICO
  • REST OF LATIN AMERICA
  • MIDDLE EAST
  • IRAN
  • ISRAEL
  • SAUDI ARABIA
  • Translation Industry Witnesses Rapid Growth
  • UNITED ARAB EMIRATES
  • REST OF MIDDLE EAST
  • AFRICA
IV. COMPETITION
  • Total Companies Profiled: 270
Note: Product cover images may vary from those shown
  • AMPLEXOR International S.A.
  • AppTek
  • Babylon Ltd.
  • Global Linguist Solutions LLC
  • Google Inc.
  • IBM Corp.
  • LanguageLine Solutions
  • Lionbridge Technologies Inc.
  • Moravia IT a.s
  • RWS Group
  • SDL plc
  • 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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