openPR Logo
Press release

Language Translation Software Market 2019 Leading Growth Drivers, Emerging Audience, Segments, Sales, Profits & Analysis

03-26-2019 10:24 AM CET | IT, New Media & Software

Press release from: Market Research Future

Language Translation Software Market 2019 Leading Growth

Market Highlights:

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.

Today with digital world blurring the borders in the world, sometimes, language barriers can result in loss of business for an organization. Therefore, there is a huge demand for language translation software among business organizations around the world. Market Research Future (MRFR) has published a research report about the global language translation software market that estimates massive expansion for this market at 16% CAGR (Compound Annual Growth Rate) during the forecast period between 2017 and 2023. By value, the market has been figured to be worth the US $ 25 bn by the end of the forecast period.

The key factors that drive the global language translation software market growth are an expansion of international information media, migration of people across borders, innovation of other nations, regional consistency by opening up access to natural resources, and free movement of currency, spreading trade & commerce, etc.

Get a Free 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,

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.

Latest Industry News
Known for creating the first and only Cloud-based project-management-and-controls software for the construction and other industries, Built On Vision has upgraded its software with the capability of automatically translating schedules from any language in the world into any other language. 29
Google has unveiled a real-life Babel fish system for translating foreign languages. This system is an “interpreter mode” for its voice-controlled speakers that allow two people to speak different languages while holding conversations in real time.

Segmentation:
The global language translation software market has been segmented on the basis of component, function, organization size, vertical, and lastly, region. The component-based segmentation segments this market into services and solution. The services segment has been sub-segmented into integration service, managed service, and professional service. Managed Services are defined as proactive management of information technology (IT) asset or object, by a third party typically known as a managed service provider (MSP), on behalf of the end-user. The key factors driving the market for managed services include the rise in digital information, the need to secure it, the continuous upsurge independency over heterogeneous networks, flexibility to match customer requirements, increasing trend of bringing your own devices (BYOD), and persistent rise in the complexity of technological solutions. The solution segment has been sub-segmented into hybrid machine translation, rule-based machine translation, and statistical-based machine translation.
Based on function, the market can get segmented into interpretation, localization, transcription, translation, and others. As per organization size, the market has been segmented into the small & medium organization and large organization. On the basis of vertical, the market segmentation covers banking, financial services & insurance (BFSI), education, government, healthcare, IT & telecommunication, manufacturing, and others. The global expansion of the IT sector globally has encouraged skilled engineers from all over the world to work together due to which, the demand for demand for language translation software is growing.

Regional Analysis:
The regional segmentation of the global language translation software market segments the market into the regional markets known as Asia Pacific, North America, Europe, and rest of the world (RoW). North America is the greatest regional market due to the presence of many key market players in this region. Maximum revenue originates from the USA and Canada. Due to technological advancement, man softwares are developed in the USA, strengthening the North American market. Migrants from different countries also create a demand for language translation softwares. Mexico is another important country-specific market in this region because most people speak Spanish as their mother tongue.
During the forecast period, the Asia Pacific region has been estimated to emerge as the fastest growing regional market because enterprises in this region are investing hugely in language translation tools in order to improve business efficiency and productivity. The Asia Pacific region is also the provider of business process outsourcing (BPO) services to numerous non-English spoken region, leading to market growth. The maximum revenue generating country-specific markets in this region are China, Japan, India, and South Korea, followed by the remaining countries of the Asia Pacific region.
In Europe, all countries have different languages. Therefore, language translation softwares are necessary when business organizations from different countries communicate with each other. The key country-specific markets in this region are France, Germany, Italy, and the UK, followed by remaining countries of Europe.

Browse Complete Report @ https://www.marketresearchfuture.com/reports/language-translation-software-market-4452

Intended Audience
• Investors and consultants
• System Integrators
• Government Organizations
• Research/Consultancy firms
• Technology solution providers
• IT Solution Providers
• Educational Institutes

LIST OF TABLES
TABLE 1 LANGUAGE TRANSLATION SOFTWARE MARKET, BY COMPONENT
TABLE 2 LANGUAGE TRANSLATION SOFTWARE MARKET, BY FUNCTION
TABLE 3 LANGUAGE TRANSLATION SOFTWARE MARKET, BY ORAGANIZATION SIZE
TABLE 4 LANGUAGE TRANSLATION SOFTWARE MARKET, BY VERTICAL
TABLE 5 LANGUAGE TRANSLATION SOFTWARE MARKET, BY REGION
Continued…….

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 (%)
Continued…….

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 2019 Leading Growth Drivers, Emerging Audience, Segments, Sales, Profits & Analysis here

News-ID: 1671718 • Views: 272

More Releases from Market Research Future

Autism Disorder and Treatment Market Pipeline Review and Industry Trend Analysis …
The global autism disorder and treatment market is expected to exhibit a CAGR of 4.37% over the forecast period from 2017 to 2023, according to a new report from Market Research Future (MRFR). The global autism disorder and treatment market was valued at USD 5,143.6 million in 2016 and is likely to exhibit rapid growth over the forecast period due to the rising awareness about autism spectrum disorders (ASD) and
Neurorehabilitation Devices Market Analysis By Top Companies : Hocoma AG, Ekso B …
Neurorehabilitation Devices Market Analysis The neurorehabilitation devices market is anticipated to touch USD 2.25 billion between 2013-2022, states the latest Market Research Future (MRFR) report. Neurorehabilitation devices are therapeutic devices that are utilized in rehabilitation programs. It deals with daunting challenges to learn to live with different neurological conditions including amyotrophic lateral sclerosis, peripheral nervous disorders, spinal cord injuries, brain tremor, multiple sclerosis, Parkinson's disease, epilepsy, ADHD, and Alzheimer's disease. Besides,
Microfluidics Devices Market Technology Improvements, Industry Share, Global Tre …
Detail Analysis of Global Microfluidics Devices Market with respect to region specific market growth and competitive analysis on the basis of major players present in the market. Detail analysis on possible segments and sub segments of the market. Along with this regional analysis of the market which includes America, Europe, Asia Pacific and Middle East and Africa. Forecast till 2023 The Microfluidics Devices Market is continually growing mainly due to the
Clear Aligners Market Size 2020, Share, Industry Growth, Global Analysis, Resear …
Global Clear Aligners Market Research Report: Information by Product Type (Hard, Medium and Soft), Age (Adult and Teenager), Distribution Channel (Direct Sales and Laboratories) and Region (Americas, Europe, Asia-Pacific and the Middle East & Africa) - Forecast till 2025 Clear Aligners Market Overview Global Clear Aligners Market size is expected to register 20.80% CAGR and is anticipated to reach USD 7019.96 Million by 2025, according to the latest market research report from

All 5 Releases


More Releases for Language

Natural Language Processing Market
Natural language processing (NLP) is the ability of a computer program to understand human speech as it is spoken. NLP is a component of artificial intelligence (AI). Scope of the Report: This report focuses on the Natural Language Processing in North America market, especially in United States, Canada and Mexico. This report categorizes the market based on manufacturers, countries, type and application. Sample Report Request: https://www.reportsandmarkets.com/sample-request/north-america-natural-language-processing-market-to-2022-1585894 Market Segment by Manufacturers, this report covers Apple Incorporation Dolbey
Learn Turkish language
Learning a new language is difficult, but apps can be a great asset for language learning. Learn Thai language app brings education to the mobile device by turning it into a personal tutor. It creates language-learning experience by introducing new words, phrases and concepts with interactive lessons. It is designed for iOS devices, like iPhone, iPad and iPod. Using this Learn Turkish app, you can also learn the language by listening
Body language in the classroom
Body language plays a crucial role, particularly in communication between teachers and students. This is the outcome of a project funded by the Austrian Science Fund FWF which focused on the hidden elements of teaching. An encouraging smile, a sceptical frown, a negating shake of the head: body language is very diverse and effective. With the discovery of mirror neurons, brain researchers corroborated its impact by demonstrating how these nerve cells
English Language Certifications in Italy
TLC, the Learning Center of Tuscany, is part of the British Institutes Group as the main center in Florence, Italy. The school offers a wide range of English courses (http://www.learningcentertuscany.com/teach-english-as-foreign-language-courses.html) based on the English Communicative Method (ECM) and a comprehensive testing services (UCAS accredited) that results in the British Institutes certificate. The several courses provided by TLC are general group courses, private lessons, business English courses, on-site courses at business
Akotherm: "We speak your language"
At the Bendorf-based aluminium system provider Akotherm, the preparations for the Bau 2011 trade fair are already underway. At the leading world construction trade fair and with the statement "we speak your language", the company will present itself as a contact who clearly identifies, understands and implements the requirements of metal constructor partners. Making use of new mobile communications opportunities, Akotherm is also implementing the first real "offline-online link" from
Language Connect are crowned Business Language Champions
Language Connect has completed the first in a planned series of interactive school workshops aimed at encouraging secondary school pupils to realise the benefits of language learning. Language Connect devised the workshops in close collaboration with the Convent of Jesus and Mary Language College in Willesden, London to educate its students about career opportunities in the translation and interpreting services industry. The workshops confirm Language Connect’s commitment to support the