Translation Service Market 2018 Global Leaders: LanguageLine Solutions, Lionbridge, GlobaLexicon, Global Language Solutions, TransPerfect, CLS Communication, Dynamic Language, Zaharicom

Market Research Future published a research report on “Global Translation Service Market Research Report - Forecast 2022” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2022.

Market synopsis

The Global Translation Service Market is driven by huge technological advancement and arrival of machines and software which can translate any foreign language in less time. Another driver for translation services is the growing geographical outreach of enterprises, thereby increasing the foreign client base and thus develops a need for translation. Translation services are the means by which the interaction between technology and human communication is increased more efficiently. Google translate is one of the big examples of free translation service. It has been going through many advancements and now can easily detect any language, slangs, regional keywords, by written means or even by voice.

Many companies are going through various changes in terms of acquisition, partnerships, and product launches. Teleperformance, a major player, in the Translation Service Market, acquired LanguageLine Solutions. The industry has considered this acquisition as a major strategic move for the company. The company claims to provide an efficient and reliable service to its customers and clients. Another major innovator in this market, Amazon Web Services, had launched translation services. The company is aiming to get in line with Google Translate as a way for new and existing businesses to increase products and services.

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Regional Analysis

On the basis of geography, the market is studied for North America, Europe, Asia Pacific, and rest of the world. Among all the regions, the market is dominated by North America due to the higher adoption rate of technology. The United States contributes a main part of the market growth, particularly due to a recent change in the government and its strictness. The region grasps more than 60% of the prominent players providing services in this market. Although the technology is still developing, the companies including various start-ups have begun conducting partnership service providers.
On the other hand, Asia Pacific has shown a decent growth considering translation service. India is the largest contributor to this market. Asia Pacific is expected to be the fastest growing region due to increasing initiatives by government

Key Players

The prominent players in the market of Translation Service are- LanguageLine Solutions (U.S.), Lionbridge (U.S.), TransPerfect (U.S.), SDL (UK), GlobaLexicon (UK), Global Language Solutions, Inc. (U.S.), Ingco International (U.S.) among others.

Other vendors include Foreign Translations (U.S.), CLS Communication (Switzerland), Net-Translators (U.S.), Dynamic Language (U.S.), Zaharicom, Inc (U.S.), Cuttingedge Translation Services Pvt. Ltd (India), Babylon Software Ltd (Israel), Gengo (U.S.), Mars Translation Services (China), Straker Translations (U.S.) among others

Segmentation

• On the basis of service type, the market is segmented into written translation services, interpretation service, others
• On the basis of operation type, the market is segmented into technical translation, machine translation.
• On the basis of the component, the market is segmented into hardware and software
• On the basis of application, the market is segmented into commercial, automotive, IT & Telecommunication, healthcare, government and others
• On the basis of region, the market is segmented into North America, Europe, Asia Pacific, and rest of the world.

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Intended Audience

• Translation Service Market services providers
• Software developers
• Government agencies
• Electronic device manufacturers
• Value-added resellers
• Security agencies
• Research Firms

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