Language Translation Software Market, Global Outlook and Forecast 2023-2029
Language translation software interprets the source text in a specific language. It includes a wide range of language services such as translation, localization, interpretation, transcription, and others. Increasing urbanization has resulted in an increased need to provide content that is relevant to the local market. LanguageLine Solutions, Global Linguist Solutions, LLC, and Babylon Corporation are some of the key players in the language translation software market.
The growing need for businesses to communicate with customers, employees, and officials in the target market increases the demand for translation software in order to overcome language barriers. The presence of free language translators is expected to restrict the market growth. However, increasing proliferation of the Internet in non-English speaking countries such as South America, Spain, Russia, and Brazil provides ample growth opportunities owing to the need for localized websites.
This report aims to provide a comprehensive presentation of the global market for Language Translation Software, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Language Translation Software. This report contains market size and forecasts of Language Translation Software in global, including the following market information:
Global Language Translation Software Market Revenue, 2018-2023, 2024-2029, ($ millions)
Global top five companies in 2022 (%)
The global Language Translation Software market was valued at US$ 13340 million in 2022 and is projected to reach US$ 22230 million by 2029, at a CAGR of 7.6% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
The U.S. Market is Estimated at $ Million in 2022, While China is to reach $ Million.
Rule-Based Machine Translation Segment to Reach $ Million by 2029, with a % CAGR in next six years.
The global key manufacturers of Language Translation Software include Bigword Group Ltd, Lionbridge, LanguageLine Solutions, Global Linguist Solutions, Babylon Corporation, Google Inc, IBM Corporation, Microsoft Inc. Systran and Cloudwords Inc, etc. in 2022, the global top five players have a share approximately % in terms of revenue.
We surveyed the Language Translation Software companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Language Translation Software Market, by Type, 2018-2023, 2024-2029 ($ millions)
Global Language Translation Software Market Segment Percentages, by Type, 2022 (%)
Rule-Based Machine Translation
Statistical-Based Machine Translation
Hybrid Machine Translation
Others
Global Language Translation Software Market, by Application, 2018-2023, 2024-2029 ($ millions)
Global Language Translation Software Market Segment Percentages, by Application, 2022 (%)
Banking Financial Services and Insurance
Healthcare
Manufacturing
Government
IT & Telecom
Education
Others
Global Language Translation Software Market, By Region and Country, 2018-2023, 2024-2029 ($ Millions)
Global Language Translation Software Market Segment Percentages, By Region and Country, 2022 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Language Translation Software revenues in global market, 2018-2023 (estimated), ($ millions)
Key companies Language Translation Software revenues share in global market, 2022 (%)
Further, the report presents profiles of competitors in the market, key players include:
Bigword Group Ltd
Lionbridge
LanguageLine Solutions
Global Linguist Solutions
Babylon Corporation
Google Inc
IBM Corporation
Microsoft Inc. Systran
Cloudwords Inc
Outline of Major Chapters:
Chapter 1: Introduces the definition of Language Translation Software, market overview.
Chapter 2: Global Language Translation Software market size in revenue.
Chapter 3: Detailed analysis of Language Translation Software company competitive landscape, revenue and market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Sales of Language Translation Software in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: The main points and conclusions of the report.
