Report Description
A recent market
intelligence report that is published by Data Insights Partner on the
global Language Translation Software Market makes an offering of in-depth analysis of segments and
sub-segments in the regional and international Language
Translation Software Market. The research
also emphasizes on the impact of restraints, drivers, and macro indicators on
the regional and global Language Translation Software Market over the short as well as long period of time. A
detailed presentation of forecast, trends, and dollar values of global Language
Translation Software Market is offered. In
accordance with the report, the global Language Translation Software Market is projected to expand at a CAGR of xx.xx% over the period of forecast.
Market Insight, Drivers, Restraints&
Opportunity of the Market:
Human-machine
interface has recently evolved with the increasing usage of instruments such as
smartphones, computers and connecting devices for day to day purposes. This
trend has necessitated reduction in the gap between human-machine interfaces.
Further, it has created the need for development of a technology that would
help in extraction and processing of different languages by machines. This in
turn is creating demand for language translation software. Language translation
is a technique where computer software are used to translate text from one
language to another language. While translating any language such as human or
automated, the actual meaning of the original text in the source language must
be completely restored in the targeted language. Language translation does not
involve just word to word subs tuition; the analysis of the actual text must be
done retaining the meaning of the text in translated text. This is one of the
major challenges for language translation software. Thus, for solving this
problem use of statistical techniques is increasing rapidly leading to better
language translation software. Advance language translation software result
into improved efficiency in handling translation of idioms, phrases and other
language specific words.
Increasing
internet usage across the globe is one of the major driving factors for global
language translation market. Furthermore, every major company which operates in
multiple countries wants their websites to be available in different languages
as per the country or locality need. Thus, this need for websites in various
languages is driving demand for language translation software. The text content
volume across the world is increasing rapidly which is another important driver
for language translation software market. Along with it, growing machine to
machine (M2M) technologies, big data analysis, high rate of smartphone adoption
and the increasing demand for the enhanced customer experience are some of the
driving factors for language translation software market. Now-a-days,
smartphones are able to provide customized user interface language as per the
customer’s need. Cloud based software for language translation is the new trend
being observed in language translation software market
Segment Covered:
Language
translation software market is segmented on the basis of translation type,
services, applications and geography. On the basis of translation type language
translation software market is segmented into statistical language translation,
rule-based language translation and hybrid language translation. On the basis
of services the language translation software market is segmented into training
and certification services, consulting services and other services.
Additionally, language translation service is segmented on the basis of
development types into on-premise machine translation and on-demand machine
translation. On the basis of applications the language translation software
market is segmented into language translation, report generation, information
exchange and question answering among others. Further, on the basis of end
users the machine translation market is segmented into enterprise-based user
and personal users. Different industries using language translation software
are banking, financial services and insurance (BFSI), automotive, healthcare,
IT and telecommunication, legal and commercial offices, defense, government and
aerospace, media and advertisement, academia and education, web and e-commerce
and other industry verticals.The market can also be segmented geographically
into North America, APAC, Europe, MEA and Latin America regions.
Profiling of Market
Players:
Some of the key
vendors in language translation software industry are IBM Corp., Apple Inc.,
Lionbridge Technologies Inc., Fuji Xerox, SDL International plc, Dolbey
Systems, Moravia IT, IBM Corp., Microsoft Corp., Asia Online Pte. Ltd., Netbase
Solutions, Lighthouse IP Group, Cloudwords Inc. and myGengo Inc..
Report Highlights:
In-depth
analysis of the micro and macro indicators, market trends, and forecasts of
demand is offered by this business intelligence report. Furthermore, the report
offers a vivid picture of the factors that are steering and restraining the
growth of this market across all geographical segments. In addition to that, IGR-Growth
Matrix analysis is also provided in the report so as to share insight of the
investment areas that new or existing market players can take into consideration.
Various analytical tools such as DRO analysis, Porter's five forces analysis
has been used in this report to present a clear picture of the market. The
study focuses on the present market trends and provides market forecast from
the year 2019-2027. Emerging trends that would shape the market demand in the
years to come have been highlighted in this report. A competitive analysis in
each of the geographical segments gives an insight into market share of the
global players.
Salient Features:
Ø
This study offers
comprehensive yet detailed analysis of the Language
Translation Software Market, size of the
market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of
forecast: 2019 – 2027, taking into account 2018 as the base year
Ø
It explains upcoming
revenue opportunities across various market segments and attractive matrix of
investment proposition for the said market
Ø
This market
intelligence report also offers pivotal insights about various market opportunities,
restraints, drivers, launch of new products, competitive market strategies of
leading market players, emerging market trends, and regional outlook
Ø
Profiling of
key market players in the world Language Translation Software Market is done by taking into account various parameters such as
company strategies, distribution strategies, product portfolio, financial
performance, key developments, geographical presence, and company overview
Ø
Leading
market players covered this report comprise names such as are IBM Corp., Apple Inc., Lionbridge Technologies Inc.,
Fuji Xerox, SDL International plc among others
Ø
The data of
this report would allow management authorities and marketers of companies alike
to take informed decision when it comes to launch of products, government
initiatives, marketing tactics and expansion, and technical up gradation
Ø
The world
market for Language Translation Software caters to the needs of various stakeholders pertaining to this
industry, namely suppliers, manufacturers, investors, and distributors for Language
Translation Software Market. The research
also caters to the rising needs of consulting and research firms, financial
analysts, and new market entrants
Ø
Research
methodologies that have been adopted for the purpose of this study have been
clearly elaborated so as to facilitate better understanding of the reports
Ø
Reports have
been made based on the guidelines as mandated by General Data Protection
Regulation
Ø
Ample number
of examples and case studies have been taken into consideration before coming
to a conclusion
Reasons to buy:
v
Identify
opportunities and plan strategies by having a strong understanding of the
investment opportunities in the Language Translation Software Market
v
Identification
of key factors driving investment opportunities in the Language
Translation Software Market
v
Facilitate
decision-making based on strong historic and forecast data
v
Position
yourself to gain the maximum advantage of the industry’s growth potential
v
Develop
strategies based on the latest regulatory events
v
Identify key
partners and business development avenues
v
Respond to
your competitors’ business structure, strategy and prospects
v
Identify key
strengths and weaknesses of important market participants