Press release
Translation Service Market 2018 Global Leaders: Calvary Robotics, Fanuc, Yaskawa Electric, Rapyuta Robotics, Ortelio, Kuka AG, Motion Controls Robotics
Translation Service Global Market - Overview
The global translation service market is showing immense growth; mainly due to the growing need for accurate interpretation services. Translation services help in bridging the gap between communication and technology. Major driver for this market include expanding geographical reach of the organizations where companies are dealing with foreign clients and translation becomes the need of the business. Technological advancements and arrival of machines and software which can provide translation in less amount of time are other factors fuelling the market growth.
According to a recent study report published by Market Research Future, The global market of translation service is increasing and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2023 with a striking CAGR during the anticipated period (2017 – 2023). Language translation services include on-demand access to professional interpreters via phone, video remote, and onsite, translation and localization of any content, testing and training of bilingual and interpreter staff, implementation support and services and competitive, cost-effective language access solutions. Time sensitive and urgent translation service is a growing requirement by many industries including city transit, airports, hotels, online services such as social media companies and other customer service providers. There are a variety of solutions available but choosing the right kind of services according to the business requirements is important.
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On the other hand, lack of technical expertise and unawareness regarding the importance of the translation services are some of the factors hindering the growth of translation service market. Also, implementation of translation service will be an added service, which will ultimately result in added costs and may hamper the market growth.
Industry News
March 2017 – Teleperformance folds LanguageLine into new unit, keeps brand. Teleperformance announced acquisition of LanguageLine Solutions in September 2016 and has been the biggest acquisition in the language industry.
November 2017 – LanguageLine Solutions wins Gold in Best in Biz Awards 2017. The company takes top prize with revolutionary LanguageLine InSight video-interpretation solution, which provides one-touch connection to over 9,000 professional interpreters. The company aims to empower clients in order to provide outstanding service and exceptional care to limited-English-proficient, deaf, and hard-of-hearing populations.
November 2017 – Amazon Web Services launches translation services as part of its AWS extravaganza. Amazon is pitching the new translate service as a way for businesses to expand products and services using its text translation tool.
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 key players of global Translation Service Market report include Rockwell Automation, Inc. (U.S.), Kuka AG (Germany), ABB Group (Switzerland), Fanuc Corporation (Japan), Yaskawa Electric Corporation (Japan), Rapyuta Robotics Co. Ltd. (Japan), Ortelio Ltd. (UK), Calvary Robotics (U.S.), Motion Controls Robotics (U.S.) and others.
Translation Service Global Market - Segmentation
The translation service market can be classified into 3 key segments for the convenience of the report and enhanced understanding;
• Segmentation by Type: Comprises of technical translation, scientific translation, financial translation, legal translation, judicial translation, juridical translation, literary translation and others
• Segmentation by End User: Comprises of commercial, public sector and others
• Segmentation by Region: Comprises of Geographical regions - North America, Europe, Asia Pacific and Rest of the World.
Translation Service Global Market - Competitive Analysis
The market of translation service appears to be highly competitive. To maintain their market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D and, most of all, in acquiring other firms.
Get complete Report @ https://www.marketresearchfuture.com/reports/translation-service-market-1400
Intended Audience
• Translation Service Manufacturers
• Distributors
• Research firms
• Consultancy firms
• Software developers
• Vendors
• Semiconductor Manufacturers
• Stakeholders
• End-user sectors
• Technology Investors
About Us:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Media Contact:
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune - 411028
Maharashtra, India
+1 646 845 9312
Email: sales@marketresearchfuture.com
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