The report provides a comprehensive analysis of the global language translation software market based on the performance and the major components of this industry.
Albany, NY -- (SBWIRE) -- 09/08/2015 -- A new study by WinterGreen Research, titled ' Language Translation Software: Market Shares, Strategies, and Forecasts, Worldwide, 2013 to 2019', is now available on Market Research Reports Search Engine (MRRSE). The report states that increasing deployment of language translation software in mobile and localized end-point data collection systems will drive the market to a great degree. Language translation software suites typically operate via hybrid machine translation engines.
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To put things into perspective, the report also touches upon the machine translation market, which is poised to go from US$USD 4 billion in 2013 to US$10.6 billion by the end of 2020. This promising growth will be brought about by several enterprises reaching out to companies providing language translation services so as to localize their communications with customers.
The report states that the most important factor that will drive the growth of the language translation software market is this: It has become exceedingly important for businesses to localize their business processes. This can be effectively achieved by the use of language translation software, as language is the very means through which a business can communicate with customers in the first place. This market has been disrupted with the arrival of the smartphone-based business model. Every business that dreams of having a global presence or appeal, is compelled to make its website mobile-friendly. This also entails deploying language translation software in most cases.
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With most globally integrated businesses boasting a presence in anywhere between 80 and 170 locations, translation has become almost as important as localization. This need reflects in the current generation of smartphones – the Samsung Galaxy S IV, for instance, has language translation software that works on a real-time basis. At the same time, social media, cloud-based business solutions, and platform systems all have a bearing on the evolution of the language translation software market.
A number of global business entities have already spotted this lucrative opportunity and have made a foray into the language translation software market. These companies include: IBM, Lionbridge, and SDL. Several opportunities exist the development of applications for the language translation market, and a number of market players are expected to take advantage of the same, which will in turn make this marketplace highly competitive.
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