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Language Translation Software Market by Solution and Geography - Forecast and Analysis 2022-2026

  • Published: Feb 2022
  • Pages: 120
  • SKU: IRTNTR72109
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The language translation software market share is expected to increase by USD 9.37 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 15.3%.

This language translation software market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers language translation software market segmentation by solution (rule-based machine translation, statistical-based machine translation, hybrid machine translation, and others) and geography (North America, Europe, APAC, South America, and Middle East and Africa). The language translation software market report also offers information on several market vendors, including Acolad, Alphabet Inc., AppTek, Babylon Software Ltd., Global Linguist Solutions LLC, Inriver AB, International Business Machines Corp., Language Engineering Co., LanguageLine Solutions, Lingotek Inc., Lionbridge Technologies LLC, MateCat, Memsource AS, Microsoft Corp., RR Donnelley and Sons Co., RWS Holdings PLC, SYSTRAN SA, thebigword Group Ltd., and Transifex Ltd. among others.

What will the Language Translation Software Market Size be During the Forecast Period?

Language Translation Software Market Size

Download the Free Report Sample to Unlock the Language Translation Software Market Size for the Forecast Period and Other Important Statistics

 

Language Translation Software Market: Key Drivers, Trends, and Challenges

The increased adoption of mobile translation is notably driving the language translation software market growth, although factors such as threat from open-source language translation software providers may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the language translation software industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Language Translation Software Market Driver

One of the key factors driving growth in the language translation software market is the increased adoption of mobile translation. With the increasing popularity of mobile devices, there is a huge demand for the mobile-first approach by both businesses and individuals. Many companies globally are increasingly developing solutions for mobile users. As a result, there is an increasing demand for mobile-based translation software among individual learners and corporate organizations. Owing to the growing popularity of language translations and localization of content, many app-developing companies and developers are continuously trying to reach out to a maximum number of people to increase their profits by developing apps in multiple languages. Thus, increasing the adoption of mobile translation solutions will further boost the market growth during the forecast period.

Key Language Translation Software Market Challenge

The threat from open-source language translation software providers will be a major challenge for the language translation software market during the forecast period. The global language translation software market has many open-source vendors that provide a range of language translation software and applications. A combination of multiple products from various open-source vendors can cover almost all the functionalities provided by web-based or cloud language translation software vendors. Open-source language translation software is becoming increasingly popular in developing economies such as India and China, as most small-scale enterprises in these economies cannot afford to invest in expensive web-based and cloud-based language translation software. This, in turn, has negatively impacted the market share of language translation software vendors.

Key Language Translation Software Market Trend

The growing demand for cloud-based language translation software offerings is another factor supporting the language translation software market share growth. The adoption of cloud computing is rapidly increasing across the world, owing to the flexibility and cost benefits associated with cloud services. Organizations worldwide are focusing on reducing their overall capital expenditure (CAPEX) and are looking to adopt new technologies with lower CAPEX. Small-scale companies and startups are adopting cloud solutions to leverage the scalability of hardware and resources offered by cloud providers. With the rise in the adoption of cloud-based software, vendors in the market have started to offer cloud-based language translation software. The demand for cloud-based language translation software among end-use industries due to implied accessibility and scalability is further expected to boost the market growth globally in the coming years.

This language translation software market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global language translation software market as a part of the global application software market within the global IT software market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the language translation software market during the forecast period.

Who are the Major Language Translation Software Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Acolad
  • Alphabet Inc.
  • AppTek
  • Babylon Software Ltd.
  • Global Linguist Solutions LLC
  • Inriver AB
  • International Business Machines Corp.
  • Language Engineering Co.
  • LanguageLine Solutions
  • Lingotek Inc.
  • Lionbridge Technologies LLC
  • MateCat
  • Memsource AS
  • Microsoft Corp.
  • RR Donnelley and Sons Co.
  • RWS Holdings PLC
  • SYSTRAN SA
  • thebigword Group Ltd.
  • Transifex Ltd.

 

This statistical study of the language translation software market encompasses successful business strategies deployed by the key vendors. The language translation software market is fragmented and the vendors are deploying growth strategies such as focusing on distinguishing their solutions through a clear and unique value proposition to compete in the market.

Product Insights and News

  • Alphabet Inc - The company offers language translation software namely Google Translate.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The language translation software market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Language Translation Software Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the language translation software market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Language Translation Software Market?

Language Translation Software Market Market segmentation by region

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30% of the market's growth will originate from Europe during the forecast period. UK and Germany are the key markets for language translation software in Europe. Market growth in this region will be faster than the growth of the market in the North American and MEA regions.

Another region showing major growth is North America. The growing IT and telecom, healthcare, BFSI, manufacturing, retail, and e-commerce markets in North America is the major factor driving the market in the region. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 in 2020 adversely affected the business activities and the economy in the region. The surge in the number of COVID-19 cases in various countries in the region compelled governments to introduce emergency legislation, which led to the shutdown of manufacturing, transportation, IT and corporate offices, universities and schools, and retail business units. However, cloud-based software providers have gained substantially from the current pandemic outbreak, as the majority of IT employees are working from home. This has created the need for organizations to partner with vendors of cloud-based language translation software to avail of their solutions.

What are the Revenue-generating Solution Segments in the Language Translation Software Market?

Language Translation Software Market Segmentation

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The language translation software market share growth by the rule-based machine traslation segment will be significant during the forecast period. Rule-based machine translation (RBMT) utilizes linguistic information about the source and target languages. It is most commonly utilized for the creation of grammar programs and dictionaries. This type of machine translation is widely used by various end-use industries such as BFSI, government, IT and telecom, healthcare, and others as it includes parallel language machine translation, transfer-based machine translation, and dictionary-based machine translation technologies. Thus, the RBMT segment held the highest share in the global language translation software in 2021 and is expected to maintain its dominancy even during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the language translation software market size and actionable market insights on post COVID-19 impact on each segment.

 

Language Translation Software Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 15.3%

Market growth 2022-2026

$ 9.37 billion

Market structure

Fragmented

YoY growth (%)

14.21

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

Europe at 30%

Key consumer countries

US, China, Japan, UK, and Germany

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Acolad, Alphabet Inc., AppTek, Babylon Software Ltd., Global Linguist Solutions LLC, Inriver AB, International Business Machines Corp., Language Engineering Co., LanguageLine Solutions, Lingotek Inc., Lionbridge Technologies LLC, MateCat, Memsource AS, Microsoft Corp., RR Donnelley and Sons Co., RWS Holdings PLC, SYSTRAN SA, thebigword Group Ltd., and Transifex Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this Language Translation Software Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive language translation software market growth during the next five years
  • Precise estimation of the language translation software market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the language translation software industry across North America, Europe, APAC, South America, and Middle East and Africa
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of language translation software market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Solution
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
  • 3.4 Market outlook: Forecast for 2021-2026
    • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
    • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
    • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
    • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

  • 4.1 Five forces summary
    • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
  • 4.2 Bargaining power of buyers
    • Exhibit 18: Bargaining power of buyers – Impact of key factors in 2021 and 2026
  • 4.3 Bargaining power of suppliers
    • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
  • 4.4 Threat of new entrants
    • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
  • 4.5 Threat of substitutes
    • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
  • 4.6 Threat of rivalry
    • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
  • 4.7 Market condition
    • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Solution

  • 5.1 Market segments
    • Exhibit 24: Chart on Solution - Market share 2021-2026 (%)
    • Exhibit 25: Data Table on Solution - Market share 2021-2026 (%)
  • 5.2 Comparison by Solution
    • Exhibit 26: Chart on Comparison by Solution
    • Exhibit 27: Data Table on Comparison by Solution
  • 5.3 Rule-Based Machine Translation - Market size and forecast 2021-2026
    • Exhibit 28: Chart on Rule-Based Machine Translation - Market size and forecast 2021-2026 ($ million)
    • Exhibit 29: Data Table on Rule-Based Machine Translation - Market size and forecast 2021-2026 ($ million)
    • Exhibit 30: Chart on Rule-Based Machine Translation - Year-over-year growth 2021-2026 (%)
    • Exhibit 31: Data Table on Rule-Based Machine Translation - Year-over-year growth 2021-2026 (%)
  • 5.4 Statistical-Based Machine Translation - Market size and forecast 2021-2026
    • Exhibit 32: Chart on Statistical-Based Machine Translation - Market size and forecast 2021-2026 ($ million)
    • Exhibit 33: Data Table on Statistical-Based Machine Translation - Market size and forecast 2021-2026 ($ million)
    • Exhibit 34: Chart on Statistical-Based Machine Translation - Year-over-year growth 2021-2026 (%)
    • Exhibit 35: Data Table on Statistical-Based Machine Translation - Year-over-year growth 2021-2026 (%)
  • 5.5 Hybrid Machine Translation - Market size and forecast 2021-2026
    • Exhibit 36: Chart on Hybrid Machine Translation - Market size and forecast 2021-2026 ($ million)
    • Exhibit 37: Data Table on Hybrid Machine Translation - Market size and forecast 2021-2026 ($ million)
    • Exhibit 38: Chart on Hybrid Machine Translation - Year-over-year growth 2021-2026 (%)
    • Exhibit 39: Data Table on Hybrid Machine Translation - Year-over-year growth 2021-2026 (%)
  • 5.6 Others - Market size and forecast 2021-2026
    • Exhibit 40: Chart on Others - Market size and forecast 2021-2026 ($ million)
    • Exhibit 41: Data Table on Others - Market size and forecast 2021-2026 ($ million)
    • Exhibit 42: Chart on Others - Year-over-year growth 2021-2026 (%)
    • Exhibit 43: Data Table on Others - Year-over-year growth 2021-2026 (%)
  • 5.7 Market opportunity by Solution
    • Exhibit 44: Market opportunity by Solution ($ million)

6 Customer Landscape

  • 6.1 Customer landscape overview
    • Exhibit 45: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

  • 7.1 Geographic segmentation
    • Exhibit 46: Chart on Market share by geography 2021-2026 (%)
    • Exhibit 47: Data Table on Market share by geography 2021-2026 (%)
  • 7.2 Geographic comparison
    • Exhibit 48: Chart on Geographic comparison
    • Exhibit 49: Data Table on Geographic comparison
  • 7.3 North America - Market size and forecast 2021-2026
    • Exhibit 50: Chart on North America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
    • Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)
  • 7.4 Europe - Market size and forecast 2021-2026
    • Exhibit 54: Chart on Europe - Market size and forecast 2021-2026 ($ million)
    • Exhibit 55: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
    • Exhibit 56: Chart on Europe - Year-over-year growth 2021-2026 (%)
    • Exhibit 57: Data Table on Europe - Year-over-year growth 2021-2026 (%)
  • 7.5 APAC - Market size and forecast 2021-2026
    • Exhibit 58: Chart on APAC - Market size and forecast 2021-2026 ($ million)
    • Exhibit 59: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
    • Exhibit 60: Chart on APAC - Year-over-year growth 2021-2026 (%)
    • Exhibit 61: Data Table on APAC - Year-over-year growth 2021-2026 (%)
  • 7.6 South America - Market size and forecast 2021-2026
    • Exhibit 62: Chart on South America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 63: Data Table on South America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 64: Chart on South America - Year-over-year growth 2021-2026 (%)
    • Exhibit 65: Data Table on South America - Year-over-year growth 2021-2026 (%)
  • 7.7 Middle East and Africa - Market size and forecast 2021-2026
    • Exhibit 66: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
    • Exhibit 67: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
    • Exhibit 68: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • Exhibit 69: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
  • 7.8 US - Market size and forecast 2021-2026
    • Exhibit 70: Chart on US - Market size and forecast 2021-2026 ($ million)
    • Exhibit 71: Data Table on US - Market size and forecast 2021-2026 ($ million)
    • Exhibit 72: Chart on US - Year-over-year growth 2021-2026 (%)
    • Exhibit 73: Data Table on US - Year-over-year growth 2021-2026 (%)
  • 7.9 China - Market size and forecast 2021-2026
    • Exhibit 74: Chart on China - Market size and forecast 2021-2026 ($ million)
    • Exhibit 75: Data Table on China - Market size and forecast 2021-2026 ($ million)
    • Exhibit 76: Chart on China - Year-over-year growth 2021-2026 (%)
    • Exhibit 77: Data Table on China - Year-over-year growth 2021-2026 (%)
  • 7.10 UK - Market size and forecast 2021-2026
    • Exhibit 78: Chart on UK - Market size and forecast 2021-2026 ($ million)
    • Exhibit 79: Data Table on UK - Market size and forecast 2021-2026 ($ million)
    • Exhibit 80: Chart on UK - Year-over-year growth 2021-2026 (%)
    • Exhibit 81: Data Table on UK - Year-over-year growth 2021-2026 (%)
  • 7.11 Germany - Market size and forecast 2021-2026
    • Exhibit 82: Chart on Germany - Market size and forecast 2021-2026 ($ million)
    • Exhibit 83: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
    • Exhibit 84: Chart on Germany - Year-over-year growth 2021-2026 (%)
    • Exhibit 85: Data Table on Germany - Year-over-year growth 2021-2026 (%)
  • 7.12 Japan - Market size and forecast 2021-2026
    • Exhibit 86: Chart on Japan - Market size and forecast 2021-2026 ($ million)
    • Exhibit 87: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
    • Exhibit 88: Chart on Japan - Year-over-year growth 2021-2026 (%)
    • Exhibit 89: Data Table on Japan - Year-over-year growth 2021-2026 (%)
  • 7.13 Market opportunity by geography
    • Exhibit 90: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers
  • 8.2 Market challenges
  • 8.3 Impact of drivers and challenges
    • Exhibit 91: Impact of drivers and challenges in 2021 and 2026
  • 8.4 Market trends

9 Vendor Landscape

  • 9.1 Overview
  • 9.2 Vendor landscape
    • Exhibit 92: Overview on Criticality of inputs and Factors of differentiation
  • 9.3 Landscape disruption
    • Exhibit 93: Overview on factors of disruption
  • 9.4 Industry risks
    • Exhibit 94: Impact of key risks on business

10 Vendor Analysis

  • 10.1 Vendors covered
    • Exhibit 95: Vendors covered
  • 10.2 Market positioning of vendors
    • Exhibit 96: Matrix on vendor position and classification
  • 10.3 Alphabet Inc.
    • Exhibit 97: Alphabet Inc. - Overview
    • Exhibit 98: Alphabet Inc. - Business segments
    • Exhibit 99: Alphabet Inc. - Key news
    • Exhibit 100: Alphabet Inc. - Key offerings
    • Exhibit 101: Alphabet Inc. - Segment focus
  • 10.4 Babylon Software Ltd.
    • Exhibit 102: Babylon Software Ltd. - Overview
    • Exhibit 103: Babylon Software Ltd. - Product / Service
    • Exhibit 104: Babylon Software Ltd. - Key offerings
  • 10.5 International Business Machines Corp.
    • Exhibit 105: International Business Machines Corp. - Overview
    • Exhibit 106: International Business Machines Corp. - Business segments
    • Exhibit 107: International Business Machines Corp. - Key news
    • Exhibit 108: International Business Machines Corp. - Key offerings
    • Exhibit 109: International Business Machines Corp. - Segment focus
  • 10.6 LanguageLine Solutions
    • Exhibit 110: LanguageLine Solutions - Overview
    • Exhibit 111: LanguageLine Solutions - Product / Service
    • Exhibit 112: LanguageLine Solutions - Key offerings
  • 10.7 Lionbridge Technologies LLC
    • Exhibit 113: Lionbridge Technologies LLC - Overview
    • Exhibit 114: Lionbridge Technologies LLC - Product / Service
    • Exhibit 115: Lionbridge Technologies LLC - Key offerings
  • 10.8 Microsoft Corp.
    • Exhibit 116: Microsoft Corp. - Overview
    • Exhibit 117: Microsoft Corp. - Business segments
    • Exhibit 118: Microsoft Corp. - Key offerings
    • Exhibit 119: Microsoft Corp. - Segment focus
  • 10.9 RR Donnelley and Sons Co.
    • Exhibit 120: RR Donnelley and Sons Co. - Overview
    • Exhibit 121: RR Donnelley and Sons Co. - Business segments
    • Exhibit 122: RR Donnelley and Sons Co. - Key offerings
    • Exhibit 123: RR Donnelley and Sons Co. - Segment focus
  • 10.10 RWS Holdings PLC
    • Exhibit 124: RWS Holdings PLC - Overview
    • Exhibit 125: RWS Holdings PLC - Business segments
    • Exhibit 126: RWS Holdings PLC - Key news
    • Exhibit 127: RWS Holdings PLC - Key offerings
    • Exhibit 128: RWS Holdings PLC - Segment focus
  • 10.11 SYSTRAN SA
    • Exhibit 129: SYSTRAN SA - Overview
    • Exhibit 130: SYSTRAN SA - Product / Service
    • Exhibit 131: SYSTRAN SA - Key offerings
  • 10.12 thebigword Group Ltd.
    • Exhibit 132: thebigword Group Ltd. - Overview
    • Exhibit 133: thebigword Group Ltd. - Product / Service
    • Exhibit 134: thebigword Group Ltd. - Key offerings

11 Appendix

  • 11.1 Scope of the report
  • 11.2 Inclusions and exclusions checklist
    • Exhibit 135: Inclusions checklist
  • 11.3 Currency conversion rates for US$
    • Exhibit 136: Currency conversion rates for US$
  • 11.4 Research methodology
    • Exhibit 137: Research methodology
    • Exhibit 138: Validation techniques employed for market sizing
    • Exhibit 139: Information sources
  • 11.5 List of abbreviations
    • Exhibit 140: List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
Technavio

TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
Technavio

TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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Language Translation Software market growth will increase by $9371.1 million during 2021-2026.
The language translation software market is expected to grow at a CAGR of 15.3% during 2021-2026.
Technavio has segmented the language translation software market by solution (Rule-Based Machine Translation, Statistical-Based Machine Translation, Hybrid Machine Translation, and Others) and geographic (North America, Europe, APAC, South America, and Middle East and Africa).
Acolad, Alphabet Inc., AppTek, Babylon Software Ltd., Global Linguist Solutions LLC, Inriver AB, International Business Machines Corp., Language Engineering Co., LanguageLine Solutions, Lingotek Inc., Lionbridge Technologies LLC, MateCat, Memsource AS, Microsoft Corp., RR Donnelley and Sons Co., RWS Holdings PLC, SYSTRAN SA, thebigword Group Ltd., Transifex Ltd. are a few of the key vendors in the language translation software market.
Europe will register the highest growth rate of 30.08% among the other regions. Therefore, the language translation software market in Europe is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the language translation software market growth are:
  • Increased adoption of mobile translation
  • Growing demand for cloud-based language translation software offerings
The language translation software market vendors should focus on grabbing business opportunities from the rule-based machine translation segment as it accounted for the largest market share in the base year.
  • What are the key global market and the regional market share?
  • What are the revenue-generating key market segments?
  • What are the key factors driving and challenging this market’s growth?
  • Who are the key market vendors and their growth strategies?
  • What are the latest trends influencing the growth of this market?
  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?
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  • Five-force market analysis

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