Translation Service Market 2022 Global Opportunity Analysis by Business Analysis, Share, Competitive Market Share, Demand, Opportunity 2030 | BIG Language Solutions, Certified Languages International, Global Talk, Keyword Studios, Language Line Solutions

Astute Analytica newly declared the publication of its new report on the global translation service market. The study evaluates important factors, such as market drivers, constraints, opportunities, and future trends, that will have a substantial impact on the market throughout the projected time period from both the supply and demand sides.

Global translation service market is expected to grow at a CAGR of 6.7% and reach the market value of US$ 81,647.4 million by 2030. It is projected to offer a growth opportunity worth US$ 33,951.3 million during the forecast period 2022-2030.

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The global translation service market analysis focuses on market share and competitiveness index, which helps determine the sector's main player's contributions. Each organization is evaluated on a regular basis based on a range of factors, such as financial insights, regional engagement, market efficiency, vital data, product range, and segment contribution.

Governmental agencies are increasing their maintenance spending for system infrastructure while also supporting programs for project creation, modernization, and improvement. ICT vendors now set aside money each year to support the expansion of the online market as a result of the investments' success.

In order to provide a deeper knowledge of the numerous aspects that validate our study findings, competitive frameworks including Porter's Five Forces analysis, a BCG matrix, as well as SWOT and PESTLE analysis, will be described in an understandable manner.

Leading Players

The top players are BIG Language Solutions, Certified Languages International, Global Talk, Keyword Studios, Language Line Solutions.

It is expected that global ICT exports will rise 3.9% per year, from US$ 784.3 billion in 2021 to US$955.19 billion in 2030. Since 2009, the global supply has grown by 9.5% annually. Ireland ranked top in the world for ICT exports in 2021 with US$ 169.32 billion. China was ranked fourth, followed by the United States at number two and India at number three. Brunei has grown by 228.2% annually since 2009, whereas Sierra Leone has shrunk by 61.7% annually.

Europe ICT Revenue is projected to reach US$ 1,953,429 Million in 2026, up 1.5% yearly from US$ 1,805,413 Million in 2021. Since 2016, the European market has grown by 3.3% yearly. Germany ranked first in Europe for ICT revenue in 2021 with US$ 339,094 million. Ireland, France, and the United Kingdom held positions 2, 3, and 4, respectively, in this list. Since 2016, Malta has seen year-over-year growth of 16.5% while Italy has seen a 0.2% decline.

The US, the EU, and other countries' economic sanctions and other actions against Russia have specifically had an influence on ICT.

Asia Pacific is home to a wide range of countries. Countries like Singapore, South Korea, India, Thailand, and Taiwan are particularly affected by growing import inflation as a result of the local currency's decline as net importers of energy and commodities. While the current situation has been advantageous for Australia and Indonesia, which export items like coal, oil, and gas.

Our customers may learn about the translation service market's components, including its goods and services, distribution methods, current technological advancements, and other possible applications, thanks to the market segmentation chapter.

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Segmentation Overview

By Service:
Medical
Financial
Judicial
Technical Translation
Administrative Translation
Website Translation
Others

By Technology:
Machine Translation (MT)
Rule-Based Machine Translation (RBMT)
Neural machine translation
Computer-Assisted Translation (CAT)
Human
Written Translation
Literary Translation

By Deployment:
Cloud
On-Premises

By Industry:
Travel & Tourism
Automotive
Banking & Finance
Healthcare
Legal
Others

By Region:
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
South Korea
Thailand
Vietnam
Australia & New Zealand
ASEAN
Rest of Asia pacific
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
UAE
Saudi Arabia
South Africa
Rest of MEA

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