March 31, 2020- 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:
- 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
- It explains upcoming revenue opportunities across various market segments and attractive matrix of investment proposition for the said market
- 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
- 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
- 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
- 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
- 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
- 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
- Reports have been made based on the guidelines as mandated by General Data Protection Regulation
- Ample number of examples and case studies have been taken into consideration before coming to a conclusion
Reasons to buy:
- Identify opportunities and plan strategies by having a strong understanding of the investment opportunities in the Language Translation Software Market
- Identification of key factors driving investment opportunities in the Language Translation Software Market
- Facilitate decision-making based on strong historic and forecast data
- Position yourself to gain the maximum advantage of the industry’s growth potential
- Develop strategies based on the latest regulatory events
- Identify key partners and business development avenues
- Respond to your competitors’ business structure, strategy and prospects
- Identify key strengths and weaknesses of important market participants
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