Language Translation Software Market Size to Reach USD 24.87 Billion, With a CAGR of 16.80% by 2030 – Report by Market Research Future (MRFR)

Research Reports

Jun 13, 2023

Market Research Future Insights:

The language translation software market is driven by a rapidly increasing trend of bring your own devices with a healthy CAGR of 16.80% with USD 24.87 Billion during the forecast period of 2022 to 2030.

The language translation software market refers to the industry involved in the development and provision of software solutions that enable the translation of text or speech from one language to another. This market caters to various sectors such as healthcare, e-commerce, travel and tourism, education, and more. The COVID-19 pandemic has had a significant impact on the language translation software market. Due to travel restrictions and physical distancing measures, there has been a surge in the demand for remote communication and virtual collaboration tools. This has increased the need for language translation software to facilitate communication between individuals and businesses from different linguistic backgrounds. The pandemic has accelerated the adoption of digital transformation and remote work, driving the demand for language translation software across various industries.

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Key Players:

Some of the market key players are,

  • Bigword Group Ltd. (England)
  • Lionbridge Technologies Inc. (U.S.)
  • Languageline Solutions (U.S.)
  • Global Linguist Solutions (U.S.)
  • Babylon Corporation (Israel)
  • Google Inc. (U.S.)
  • IBM Corporation (U.S.)
  • Microsoft Inc. (U.S.)
  • Systran (South Korea)
  • Cloudwords Inc. (U.S.).

Scope of the Report – Language Translation Software Market:

Report Metrics

Details

Market Size by 2030

USD 24.87 Billion

CAGR during 2022-2030

16.80%

 Base Year

2021

 Forecast

2022-2030

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Market Segmentation

  • The Global language translation software market has been segmented into Component, Function, Organization Size and Vertical
  • Based on Component: Solution and Service
  • Based on Function: Translation, Localization and Interpretation
  • Based on Organization Size: Large Enterprises
  • Based on Vertical: Healthcare, Government and IT & Telecommunication.


Regional Analysis:

The region has a significant market share in the language translation software market, primarily driven by the presence of major technology companies and a high degree of digitalization across industries. European countries have witnessed substantial adoption of language translation software, driven by the need for multilingual communication within the European Union and the region’s diverse linguistic landscape.

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The growing e-commerce industry, increasing internet penetration, and rapid digitization in countries like China, India, and Japan have contributed to the growth of the language translation software market in the Asia Pacific region. The market in this region is witnessing growth due to the increasing adoption of e-learning platforms, cross-border trade, and the need for multilingual customer support services. The market is expanding in this region due to the growing presence of international businesses, tourism, and the need for language translation services for cross-cultural communication.

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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.

Tags: Language Translation Software Market Size, Language Translation Software Market, Language Translation Software Market Growth, Language Translation Software Market 2030, Language Translation Software Market Demand, Global Language Translation Software Market, Language Translation Software Market Share See Campaign: https://www.marketresearchfuture.com/reports/language-translation-software-market-4452

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