Language Translation Software Market Size to Grow by USD 9.37 Billion| 17,000+ Technavio Research Reports

News provided by

Mar 07, 2022, 23:30 ET

NEW YORK, March 7, 2022 /PRNewswire/ -- The "Language Translation Software Market - Forecast and Analysis 2022-2026" report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years.

The potential growth difference for the language translation software market between 2021 and 2026 is USD 9.37 billion. The report identifies the market to witness an accelerating growth momentum at a CAGR of 15.3%.

Technavio has announced its latest market research report titled Language Translation Software Market by Solution and Geography - Forecast and Analysis 2022-2026

To get the exact yearly growth variance and the Y-O-Y growth rate, Talk to our analyst.

Key Market Dynamics:

Market Driver
Market Challenges

The increased adoption of mobile translation and globalization of businesses are some of the key market drivers. With the increasing popularity of mobile devices, there is a huge demand for the mobile-first approach by both businesses and individuals. Many companies globally are increasingly developing solutions for mobile users. As a result, there is an increasing demand for mobile-based translation software among individual learners and corporate organizations. In addition, The growing demand for cloud-based language translation software offerings is another factor supporting the language translation software market share growth. The adoption of cloud computing is rapidly increasing across the world, owing to the flexibility and cost benefits associated with cloud services.

However, factors such as threat from open-source language translation software providers will challenge market growth. The global language translation software market has many open-source vendors that provide a range of language translation software and applications. A combination of multiple products from various open-source vendors can cover almost all the functionalities provided by web-based or cloud language translation software vendors. Open-source language translation software is becoming increasingly popular in developing economies such as India and China, as most small-scale enterprises in these economies cannot afford to invest in expensive web-based and cloud-based language translation software. This, in turn, has negatively impacted the market share of language translation software vendors.

To learn about additional key drivers, trends, and challenges available with Technavio. Read our FREE Sample Report!

The language translation software market report is segmented by solution (rule-based machine translation, statistical-based machine translation, hybrid machine translation, and others) and geography (North America, Europe, APAC, South America, and Middle East and Africa). The rule-based machine translation segment accounted for the highest share in 2021. The segment will continue to account for the highest share during the forecast period as this type of machine translation is widely used by various end-use industries such as BFSI, government, IT and telecom, healthcare, and others as it includes parallel language machine translation, transfer-based machine translation, and dictionary-based machine translation technologies.

In terms of Geography, Europe will be the leading region with 30% of the market's growth during the forecast period. UK and Germany are the key markets for language translation software in Europe. Market growth in this region will be faster than the growth of the market in the North American and MEA regions.

View our sample report for additional insights into the contribution of all the segments and regional opportunities

Some Companies Mentioned with their Offerings

Acolad
Alphabet Inc.
AppTek
Babylon Software Ltd.
Global Linguist Solutions LLC
Inriver AB
International Business Machines Corp.
Language Engineering Co.
LanguageLine Solutions
Lingotek Inc.
Lionbridge Technologies LLC
MateCat
Memsource AS
Microsoft Corp.
RR Donnelley and Sons Co.
RWS Holdings PLC
SYSTRAN SA
thebigword Group Ltd.
Transifex Ltd.

To gain access to more vendor profiles with their key offerings available with Technavio, Click Here

Machine Translation Market by Application and Geography - Forecast and Analysis 2020-2024

Conversational Systems Market by Type and Geography - Forecast and Analysis 2020-2024

Language Translation Software Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 15.3%
Market growth 2022-2026	$ 9.37 billion
Market structure	Fragmented
YoY growth (%)	14.21
Regional analysis	North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution	Europe at 30%
Key consumer countries	US, China, Japan, UK, and Germany
Competitive landscape	Leading companies, competitive strategies, consumer engagement scope
Companies profiled	Acolad, Alphabet Inc., AppTek, Babylon Software Ltd., Global Linguist Solutions LLC, Inriver AB, International Business Machines Corp., Language Engineering Co., LanguageLine Solutions, Lingotek Inc., Lionbridge Technologies LLC, MateCat, Memsource AS, Microsoft Corp., RR Donnelley and Sons Co., RWS Holdings PLC, SYSTRAN SA, thebigword Group Ltd., and Transifex Ltd.
Market Dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Key Topics Covered:

1 Executive Summary

1.1 Market overview

Exhibit 01: Executive Summary – Chart on Market Overview
Exhibit 02: Executive Summary – Data Table on Market Overview
Exhibit 03: Executive Summary – Chart on Global Market Characteristics
Exhibit 04: Executive Summary – Chart on Market by Geography
Exhibit 05: Executive Summary – Chart on Market Segmentation by Solution
Exhibit 06: Executive Summary – Chart on Incremental Growth
Exhibit 07: Executive Summary – Data Table on Incremental Growth
Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape
2.1 Market ecosystem

Exhibit 09: Parent market
Exhibit 10: Market Characteristics

3 Market Sizing
3.1 Market definition

Exhibit 11: Offerings of vendors included in the market definition

3.2 Market segment analysis

Exhibit 12: Market segments

3.3 Market size 2021
3.4 Market outlook: Forecast for 2021-2026

Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis
4.1 Five forces summary

Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

4.2 Bargaining power of buyers

Exhibit 18: Bargaining power of buyers – Impact of key factors in 2021 and 2026

4.3 Bargaining power of suppliers

Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

4.4 Threat of new entrants

Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

4.5 Threat of substitutes

Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

4.6 Threat of rivalry

Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

4.7 Market condition

Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Solution
5.1 Market segments

Exhibit 24: Chart on Solution - Market share 2021-2026 (%)
Exhibit 25: Data Table on Solution - Market share 2021-2026 (%)

5.2 Comparison by Solution

Exhibit 26: Chart on Comparison by Solution
Exhibit 27: Data Table on Comparison by Solution

5.3 Rule-Based Machine Translation - Market size and forecast 2021-2026

Exhibit 28: Chart on Rule-Based Machine Translation - Market size and forecast 2021-2026 ($ million)
Exhibit 29: Data Table on Rule-Based Machine Translation - Market size and forecast 2021-2026 ($ million)
Exhibit 30: Chart on Rule-Based Machine Translation - Year-over-year growth 2021-2026 (%)
Exhibit 31: Data Table on Rule-Based Machine Translation - Year-over-year growth 2021-2026 (%)

5.4 Statistical-Based Machine Translation - Market size and forecast 2021-2026

Exhibit 32: Chart on Statistical-Based Machine Translation - Market size and forecast 2021-2026 ($ million)
Exhibit 33: Data Table on Statistical-Based Machine Translation - Market size and forecast 2021-2026 ($ million)
Exhibit 34: Chart on Statistical-Based Machine Translation - Year-over-year growth 2021-2026 (%)
Exhibit 35: Data Table on Statistical-Based Machine Translation - Year-over-year growth 2021-2026 (%)

5.5 Hybrid Machine Translation - Market size and forecast 2021-2026

Exhibit 36: Chart on Hybrid Machine Translation - Market size and forecast 2021-2026 ($ million)
Exhibit 37: Data Table on Hybrid Machine Translation - Market size and forecast 2021-2026 ($ million)
Exhibit 38: Chart on Hybrid Machine Translation - Year-over-year growth 2021-2026 (%)
Exhibit 39: Data Table on Hybrid Machine Translation - Year-over-year growth 2021-2026 (%)

5.6 Others - Market size and forecast 2021-2026

Exhibit 40: Chart on Others - Market size and forecast 2021-2026 ($ million)
Exhibit 41: Data Table on Others - Market size and forecast 2021-2026 ($ million)
Exhibit 42: Chart on Others - Year-over-year growth 2021-2026 (%)
Exhibit 43: Data Table on Others - Year-over-year growth 2021-2026 (%)

5.7 Market opportunity by Solution

Exhibit 44: Market opportunity by Solution ($ million)

6 Customer Landscape
6.1 Customer landscape overview

Exhibit 45: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape
7.1 Geographic segmentation

Exhibit 46: Chart on Market share by geography 2021-2026 (%)
Exhibit 47: Data Table on Market share by geography 2021-2026 (%)

7.2 Geographic comparison

Exhibit 48: Chart on Geographic comparison
Exhibit 49: Data Table on Geographic comparison

7.3 North America - Market size and forecast 2021-2026

Exhibit 50: Chart on North America - Market size and forecast 2021-2026 ($ million)
Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 ($ million)
Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)

7.4 Europe - Market size and forecast 2021-2026

Exhibit 54: Chart on Europe - Market size and forecast 2021-2026 ($ million)
Exhibit 55: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
Exhibit 56: Chart on Europe - Year-over-year growth 2021-2026 (%)
Exhibit 57: Data Table on Europe - Year-over-year growth 2021-2026 (%)

7.5 APAC - Market size and forecast 2021-2026

Exhibit 58: Chart on APAC - Market size and forecast 2021-2026 ($ million)
Exhibit 59: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
Exhibit 60: Chart on APAC - Year-over-year growth 2021-2026 (%)
Exhibit 61: Data Table on APAC - Year-over-year growth 2021-2026 (%)

7.6 South America - Market size and forecast 2021-2026

Exhibit 62: Chart on South America - Market size and forecast 2021-2026 ($ million)
Exhibit 63: Data Table on South America - Market size and forecast 2021-2026 ($ million)
Exhibit 64: Chart on South America - Year-over-year growth 2021-2026 (%)
Exhibit 65: Data Table on South America - Year-over-year growth 2021-2026 (%)

7.7 Middle East and Africa - Market size and forecast 2021-2026

Exhibit 66: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
Exhibit 67: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
Exhibit 68: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
Exhibit 69: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

7.8 US - Market size and forecast 2021-2026

Exhibit 70: Chart on US - Market size and forecast 2021-2026 ($ million)
Exhibit 71: Data Table on US - Market size and forecast 2021-2026 ($ million)
Exhibit 72: Chart on US - Year-over-year growth 2021-2026 (%)
Exhibit 73: Data Table on US - Year-over-year growth 2021-2026 (%)

7.9 China - Market size and forecast 2021-2026

Exhibit 74: Chart on China - Market size and forecast 2021-2026 ($ million)
Exhibit 75: Data Table on China - Market size and forecast 2021-2026 ($ million)
Exhibit 76: Chart on China - Year-over-year growth 2021-2026 (%)
Exhibit 77: Data Table on China - Year-over-year growth 2021-2026 (%)

7.10 UK - Market size and forecast 2021-2026

Exhibit 78: Chart on UK - Market size and forecast 2021-2026 ($ million)
Exhibit 79: Data Table on UK - Market size and forecast 2021-2026 ($ million)
Exhibit 80: Chart on UK - Year-over-year growth 2021-2026 (%)
Exhibit 81: Data Table on UK - Year-over-year growth 2021-2026 (%)

7.11 Germany - Market size and forecast 2021-2026

Exhibit 82: Chart on Germany - Market size and forecast 2021-2026 ($ million)
Exhibit 83: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
Exhibit 84: Chart on Germany - Year-over-year growth 2021-2026 (%)
Exhibit 85: Data Table on Germany - Year-over-year growth 2021-2026 (%)

7.12 Japan - Market size and forecast 2021-2026

Exhibit 86: Chart on Japan - Market size and forecast 2021-2026 ($ million)
Exhibit 87: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
Exhibit 88: Chart on Japan - Year-over-year growth 2021-2026 (%)
Exhibit 89: Data Table on Japan - Year-over-year growth 2021-2026 (%)

7.13 Market opportunity by geography

Exhibit 90: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends
8.1 Market drivers
8.2 Market challenges
8.3 Impact of drivers and challenges

Exhibit 91: Impact of drivers and challenges in 2021 and 2026

8.4 Market trends
9 Vendor Landscape
9.1 Overview
9.2 Vendor landscape

Exhibit 92: Overview on Criticality of inputs and Factors of differentiation

9.3 Landscape disruption

Exhibit 93: Overview on factors of disruption

9.4 Industry risks

Exhibit 94: Impact of key risks on business

10 Vendor Analysis
10.1 Vendors covered

Exhibit 95: Vendors covered

10.2 Market positioning of vendors

Exhibit 96: Matrix on vendor position and classification

10.3 Alphabet Inc.

Exhibit 97: Alphabet Inc. - Overview
Exhibit 98: Alphabet Inc. - Business segments
Exhibit 99: Alphabet Inc. - Key news
Exhibit 100: Alphabet Inc. - Key offerings
Exhibit 101: Alphabet Inc. - Segment focus

10.4 Babylon Software Ltd.

Exhibit 102: Babylon Software Ltd. - Overview
Exhibit 103: Babylon Software Ltd. - Product / Service
Exhibit 104: Babylon Software Ltd. - Key offerings

10.5 International Business Machines Corp.

Exhibit 105: International Business Machines Corp. - Overview
Exhibit 106: International Business Machines Corp. - Business segments
Exhibit 107: International Business Machines Corp. - Key news
Exhibit 108: International Business Machines Corp. - Key offerings
Exhibit 109: International Business Machines Corp. - Segment focus

10.6 LanguageLine Solutions

Exhibit 110: LanguageLine Solutions - Overview
Exhibit 111: LanguageLine Solutions - Product / Service
Exhibit 112: LanguageLine Solutions - Key offerings

10.7 Lionbridge Technologies LLC

Exhibit 113: Lionbridge Technologies LLC - Overview
Exhibit 114: Lionbridge Technologies LLC - Product / Service
Exhibit 115: Lionbridge Technologies LLC - Key offerings

10.8 Microsoft Corp.

Exhibit 116: Microsoft Corp. - Overview
Exhibit 117: Microsoft Corp. - Business segments
Exhibit 118: Microsoft Corp. - Key offerings
Exhibit 119: Microsoft Corp. - Segment focus

10.9 RR Donnelley and Sons Co.

Exhibit 120: RR Donnelley and Sons Co. - Overview
Exhibit 121: RR Donnelley and Sons Co. - Business segments
Exhibit 122: RR Donnelley and Sons Co. - Key offerings
Exhibit 123: RR Donnelley and Sons Co. - Segment focus

10.10 RWS Holdings PLC

Exhibit 124: RWS Holdings PLC - Overview
Exhibit 125: RWS Holdings PLC - Business segments
Exhibit 126: RWS Holdings PLC - Key news
Exhibit 127: RWS Holdings PLC - Key offerings
Exhibit 128: RWS Holdings PLC - Segment focus

10.11 SYSTRAN SA

Exhibit 129: SYSTRAN SA - Overview
Exhibit 130: SYSTRAN SA - Product / Service
Exhibit 131: SYSTRAN SA - Key offerings

10.12 thebigword Group Ltd.

Exhibit 132: thebigword Group Ltd. - Overview
Exhibit 133: thebigword Group Ltd. - Product / Service
Exhibit 134: thebigword Group Ltd. - Key offerings

11 Appendix
11.1 Scope of the report
11.2 Inclusions and exclusions checklist

Exhibit 135: Inclusions checklist

11.3 Currency conversion rates for US$

Exhibit 136: Currency conversion rates for US$

11.4 Research methodology

Exhibit 137: Research methodology
Exhibit 138: Validation techniques employed for market sizing
Exhibit 139: Information sources

11.5 List of abbreviations

Exhibit 140: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email:[email protected]
Website: www.technavio.com/

SOURCE Technavio