Press release
Language Translation Software Market expected to grow at approximately USD 25 Billion by 2023, at 16% of CAGR between 2017 and 2023.
The report on the global Language Translation Software market covers historical market trends, current market dynamics, market valuation by segmentation as well as region, country-level analysis for every segment, key player's market share analysis, competitive landscape and supply chain analysis.The latest report by Market Research Future (MRFR) reveals that the global language translation software market will grow at 16% CAGR and the market valuation will reach USD ~25 Bn. The world is becoming a global village with the advent of globalization; but, one of the hindrances to the economic reformation of world trade is the dominant prevalence of semantic barrier. This has led to difficulty in learning and understanding different languages which have fuelled the market for global language translation software.
Request a Sample Report @ https://www.marketresearchfuture.com/sample_request/4452
Major key Players
• Global Linguist Solutions (U.S.),
• Lionbridge Technologies, Inc. (U.S.),
• IBM Corporation (U.S.),
• Microsoft Inc. (U.S.)
• Bigword Group Ltd. (England).
• Lionbridge Technologies,
Inc has expanded its product portfolio to become one of the key players in the market by developing a cloud-based delivery model to deliver on-demand translation services. The new service not only saves money and time but also assures quality. It provides the user organization with options such as managed language services if they have resources to look after translation and localization process.
According to MRFR, The Language Translation Software market is expected to grow at approximately USD 25 Billion by 2023, at 16% of CAGR between 2017 and 2023.
Industry News and Development
March 2018 – The ministry of home affairs (MHA) announced to launch a language translator software named as “Memory Adharith Anuvadh Software (MAAS) by August. The memory based software would translate “world knowledge and literature” into Hindi language in order to increase the web content on the internet.
March 2018 – Researchers of Microsoft Corporation developed an artificial intelligence system which is able to translate Chinese language into English. The new AI system is capable of translating language with the same quality and accuracy as of the human.
Segmentation:
By Component, the market has been segmented into solution, and, service.
Solution segment is further segmented into rule-based machine translation, statistical-based machine translation, and, hybrid machine translation.
Service segment in further bifurcated into professional service, managed service, and, integration service. The operative distinction that sets apart a managed service program is the proactive delivery of their service, as compared to reactive IT services, which have been around for decades. The key drivers of managed service segment are digitalization, cybersecurity, dependency on divergent networks, complex technological solutions, etc.
By function, the market is segmented into translation, localization, interpretation, transcription, and, others.
By organization size, the market has been segmented into small and medium organization, and, large organization.
By verticals, the market is segmented into government, BFSI, IT and telecommunication, healthcare, education, manufacturing, and, others. The IT and BFSI segments have huge potential during the forecast period. Expansion of IT sector globally has encouraged skilled engineers from all across the globe to work together which has augmented the demand for language translation software.
Browse Complete Report @ https://www.marketresearchfuture.com/reports/language-translation-software-market-4452
Regional Analysis:
By region, the market has been segmented into Asia Pacific, North America, Europe and Rest of the World (RoW). The North America segment accounts for the highest share in the market owing to the visible presence of countries such as the U.S. and Canada which are the major revenue contributors in this region. Another factor that will affect the growth of the market in this region positively is the inhabitance of significant market players and migrants from different countries. The Asia Pacific segment has emerging economies that are thriving on imports and exports, and the business houses are making considerable amount of investments in language translation tools to obtain optimum efficiency of operations and amplify productivity. Asia Pacific region is expected to exhibit highest CAGR among other regional segments and is the outsourcing hub of BPO services for language translation, mostly to regions with non-native English speaking population.
Intended Audience
• Investors and consultants
• System Integrators
• Government Organizations
• Research/Consultancy firms
• Technology solution providers
• IT Solution Providers
• Educational Institutes
LIST OF FIGURES
Figure 1 Research Type
Figure 2 Language Translation Software Market: By Component (%)
Figure 3 Language Translation Software Market: By Function (%)
Figure 4 Language Translation Software Market: By Organization Size (%)
Figure 5 Language Translation Software Market: By Vertical (%)
Figure 6 North America Language Translation Software Market, By Component (%)
For More Information, Browse Press Release @ https://www.marketresearchfuture.com/press-release/language-translation-software-industry
About Market Research Future:
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.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Contact:
Market Research Future
+1 646 845 9312
Email: sales@marketresearchfuture.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Language Translation Software Market expected to grow at approximately USD 25 Billion by 2023, at 16% of CAGR between 2017 and 2023. here
News-ID: 1486113 • Views: …
More Releases from Market Research Future

Global Small Boat Industry Sees Growing Demand Amid Rising Recreational Boating …
As per the latest analysis by Market Research Future, the Small Boats Market Size was estimated at 17.12 (USD Billion) in 2024. The Small Boats Market Industry is expected to grow from 17.88 (USD Billion) in 2025 to 26.41 (USD Billion) till 2034, at a CAGR (growth rate) is expected to be around 4.43% during the forecast period (2025 - 2034).
The global small boat industry is witnessing significant growth, driven…

Automotive Trim Market Attaining USD 193.22 Billion till 2034 | Innovations Rede …
As per the latest analysis by Market Research Future, the Automotive Trim Market Size was estimated at 140.30 (USD Billion) in 2024. The Automotive Trim Market Industry is expected to grow from 144.87 (USD Billion) in 2025 to 193.22 (USD Billion) till 2034, at a CAGR (growth rate) is expected to be around 3.25% during the forecast period (2025 - 2034).
The automotive industry is witnessing a significant transformation in vehicle…

Leading Automotive Technology Firms Expand Fuel Level Sensor Solutions for Next- …
As per the latest analysis by Market Research Future, Automotive Fuel Level Sensor Market Size was valued at USD 5,788.04 million in 2024. The Automotive Fuel Level Sensor market industry is projected to grow from USD 6,008.32 million in 2025 to USD 9,201.90 million by 2035, exhibiting a compound annual growth rate (CAGR) of 4.35% during the forecast period (2024 - 2035).
With the global automotive industry focused on precision,…

Valet Parking Technology Gains Momentum as Urban Mobility and Smart Infrastructu …
As per the latest analysis by Market Research Future, the Valet Parking Technology Market Size was estimated at 1.41 (USD Billion) in 2024. The Valet Parking Technology Market Industry is expected to grow from 1.63 (USD Billion) in 2025 to 6.01 (USD Billion) till 2034, at a CAGR (growth rate) is expected to be around 15.62% during the forecast period (2025 - 2034).
Valet parking technology is emerging as a transformative…
More Releases for Software
Takeoff Software Market May See a Big Move | Sage Software, Bluebeam Software, Q …
Latest Study on Industrial Growth of Takeoff Software Market 2023-2028. A detailed study accumulated to offer Latest insights about acute features of the Takeoff Software market. The report contains different market predictions related to revenue size, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments…
Robot Software Market Analysis by Software Types: Recognition Software, Simulati …
The Insight Partners provides you global research analysis on “Robot Software Market” and forecast to 2028. The research report provides deep insights into the global market revenue, parent market trends, macro-economic indicators, and governing factors, along with market attractiveness per market segment. The report provides an overview of the growth rate of the Robot Software market during the forecast period, i.e., 2021–2028.
Download Sample Pages of this research study at: https://www.theinsightpartners.com/sample/TIPRE00007689/?utm_source=OpenPR&utm_medium=10452…
HR Software Market Analysis by Top Key Players Zenefits Software, Kronos Softwar …
HR software automates how companies conduct business with relation to employee management, training and e-learning, performance management, and recruiting and on-boarding. HR professionals benefit from HR software systems by providing a more structured and process oriented approach to completing administrative tasks in a repeatable and scalable manner. Every employee that is added to an organization requires management of information, analysis of data, and ongoing updates as progression throughout the company…
HR Software Market by Top Manufacturers – Zenefits Software, Kronos Software, …
Global HR Software market could be classified into different regions and countries for a clear understanding of business prospects available across the globe. This intelligence research study presents a wide-ranging study of the global market by evaluating the growth drivers and detaining factors at length. This detailed study of significant factors supports the market participants in understanding the issues they will be facing while operative in this market over a…
HR Software Market by Top Manufacturers – Zenefits Software, Kronos Software, …
Global HR Software market could be classified into different regions and countries for a clear understanding of business prospects available across the globe. This intelligence research study presents a wide-ranging study of the global market by evaluating the growth drivers and detaining factors at length. This detailed study of significant factors supports the market participants in understanding the issues they will be facing while operative in this market over a…
HR Software Market Analysis by Top Key Players – Zenefits Software, Kronos Sof …
HR software helps HR personnel automate many necessary tasks, such as maintaining employee records, time tracking, and benefits, which allows HR professionals to focus on recruiting efforts, employee performance and engagement, corporate wellness, company culture, and so on. These human management tools can be purchased and implemented as on premise or cloud-based software.
This market studies report on the Global HR Software Market is an all-inclusive study of the enterprise sectors…