Press release
Language Translation Software Market Growth by Manufacturers, Segmentation, Growth and Opportunities 2023
The growing need for businesses to communicate with customers, employees, and officials in the target market increases the demand for translation software in order to overcome language barriers. The presence of free language translators is expected to restrict the market growth. However, increasing proliferation of the Internet in non-English speaking countries such as South America, Spain, Russia, and Brazil provides ample growth opportunities owing to the need for localized websites.
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The report segments the language translation software market on the basis of component, industry verticals, and geography. On the basis of component, it is divided into solution and services. Solution is divided into rule-based machine translation, statistical-based machine translation, and hybrid machine translation. Services are divided into translation, localization, interpretation, transcription, and others.
On the basis of industry verticals, it is divided into banking financial services & insurance (BFSI), healthcare, manufacturing, government, IT & telecom, education, and others. On the basis of geography, it covers North America, Europe, Asia-Pacific, and LAMEA.
The major players of the language translation software market are the bigword Group Ltd., Lionbridge, Language Line Solutions, Global Linguist Solutions, LLC, Babylon Corporation, Google Inc., IBM Corporation, Microsoft Inc., Systran, and Cloudwords Inc.
Key Benefits:
•This report provides an extensive analysis of the current and emerging market trends and dynamics in the global language translation software market.
•In-depth analysis has been carried out in this report by constructing market estimations for key market segments between 2016 and 2023.
•This report entails a detailed quantitative analysis of the current market and estimations from 2016-2023, which helps identify prevailing market opportunities.
•Extensive analysis of the market is conducted by following key product positioning and monitoring top competitors within the market framework
•Comprehensive analysis of all regions has been provided that determines prevailing opportunities in these geographies
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Language Translation Software Market Key Segments:
By Component
•Solution
-Rule-Based Machine Translation
-Statistical-Based Machine Translation
-Hybrid Machine Translation
•Services
-Translation
-Localization
-Interpretation
-Transcription
-Others
By Industry Verticals-
•Banking Financial Services and Insurance
•Healthcare
•Manufacturing
•Government
•IT & Telecom
•Education
•Others
By Geography-
•North America
•Europe
•Asia-Pacific
•LAMEA
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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