Language Translation Software Market, By Component (Solution, Service), By Function (Translation, Localization, Interpretation), By Organization Size (Large Enterprises), By Vertical - Forecast 2023.
Pune, India -- (SBWIRE) -- 01/10/2018 -- Market Highlights:
Language line Solutions a major player in language translation software market. It provides language translation service to different industry verticals that includes healthcare, government and business organization. The company provides language translation solutions that can easily translate any type of content to grow users business, increase efficiency and strengthen compliance. It also provides document translation services that improve language access in many industries. Global Linguist Solutions one of the prominent player in language translation software market. It provides language translation services, cross-cultural consulting and global business consulting. The services provided in the language translation software include interpretation, translation, transcription and language training.
In language translation software market, digitization and big data analytics technology is one of the significant factor driving the market. Digitization in language translation software technology helps organization by providing seamless platform to handle large data and increases efficiency and accuracy in business operations. Digital technology supports both upstream and downstream language translation software activities. Language translation software solution enable organization by providing efficient translational service. By vertical segment, IT and telecommunication sector acquires highest market share owing to better analysis offered by language translation software tools that is benefitting education and healthcare institutes and is further fueling the market growth.
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Major Key Players
Bigword Group Ltd. (England),
Lionbridge Technologies, Inc. (U.S.),
Languageline Solutions (U.S.),
Global Linguist Solutions (U.S.),
Babylon Corporation (Israel),
Google Inc. (U.S.),
IBM Corporation (U.S.),
Microsoft Inc. (U.S.),
Systran (South Korea),
Cloudwords Inc. (U.S.)
The global Interactive Kiosk Market is expected to grow at USD ~34 Billion by 2023, at ~9% of CAGR between 2017 and 2023.
Market Research Analysis:
The language translation software market in North America region is growing due to high adoption of cloud solutions by enterprise and need to improve information governance in organizations. According to the study, the language translation software market will show rapid growth in Europe region. Asia-Pacific market is estimated to be one of the fastest growing market as it is continuously investing into research and development of language translation software market and growing oversea business attract more users and is driving language translation software market in the region. Increasing population, and growing IT landscape is boosting the market in the region. The region is witnessing high adoption of language translation software tools by enterprises.
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Language Translation Software Market Segmentation
The language translation software market has been segmented on the basis of component, function,organization size and vertical. Language translation solutions that can easily translate any type of content to grow users business, increase efficiency and strengthen compliance. It also provides document translation services that improve language access in many industries.
- Interactive kiosk companies
- Interactive kiosk providers
- Technical universities
- System integrators
- Managed Security Service Providers
- Professional service providers
- Research and development companies
- Market research and consulting firms
- Solution providers
- Technology standards organizations
- Technology investors
- System Integrators
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