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Market Research Future
(MRFR), in its latest report on the language
Translation Software Market report 2020, reveals different factors that can
promote the expansion of the market across the study period 2017 to 2023. A
thorough analysis on the influence of COVID 19 on the language translation
software market in the years ahead. As per MRFR study, the expansion of the
language translation software market is likely to thrive at 14% of CAGR in the
analysis period 2017 and 2023. The language translation software market can
value at about USD 25 Billion by 2023, stated MRFR analysis. The expansion of
the language translation software market can be attributed to the rise of
application of language translation software across multiple organizations and
the presence of effective network infrastructure. In addition, the increase in
digital solution adoption by reputed players can impel the expansion of the
language translation software market in the study period.
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Competitive Outlook:
Babylon Corporation
(Israel), Lionbridge Technologies, Inc. (U.S.), Bigword Group Ltd. (England),
Global Linguist Solutions (U.S.), Languageline Solutions (U.S.), IBM
Corporation (U.S.), Google Inc. (U.S.), Microsoft Inc. (U.S.), Cloudwords Inc.
(U.S.), and Systran (South Korea) among others are some reputed names in the
language translation software market as profiled by MRFR.
Segmentation:
The segment analysis of
the language translation software market is done by component, organization
size, function, and vertical.
The
component based segments of the Language translation software market are
solution and services. The solution segments are statistical-based machine
translation, hybrid machine translation, and rule-based machine translation.
The service segments are managed services, and integration services, following
professional service. The function based segments of the Language translation
software market are localization, transcription, and interpretation. The
organization size based segments of the language translation software are large
enterprise and small & medium enterprise. By vertical based segments of the
language translation software market are IT & telecommunication, education,
manufacturing, BFSI, government, and healthcare among others. The rise in the
demand for solutions that offer easy and quick translation of any type of
content with high degree of efficacy aid in business to gain high efficiency
and also strengthen compliance. Thus the gradual rise in the adoption of
language translation software across different enterprises can promote the
market rise in the study period. Moreover, the high adoption of document
translation services can support the expansion of the language translation
software market in the analysis period.
Regional
Analysis:
In North America, the
implementation of higher technologies and the high penetration of Digitization
can support the rise of North America language translation software. The
increase in immigrants in the region can also impel the expansion of North
America language translation software market in the analysis period. In
addition, continuous is mainly due to the invention of advanced technology and
economies benefitting from it. North America bolster the language translation
software market growth in the region. In APAC, the implementation of language
translation software solution across SMEs and expanding large enterprises can
boost the rise of the market through the analysis period. The continuous
implementation of language translation software in IT & BFSI sector can
prompt the growth of the language translation software through the review
period. The presence of language diversity can propel the growth of the
language translation software market growth in the APAC region. In Europe, the
increase in inflow of different business can support the surge of EU language
translation software market in the years to come, reveals MRFR study.
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Full Report Details @ https://www.marketresearchfuture.com/reports/language-translation-software-market-4452
Table of Contents:
1 Executive
Summary
2 Scope of the
Report
2.1 Market
Definition
2.2 Scope
of the Study
2.2.1 Research objectives
2.2.2 Assumptions & Limitations
2.3 Markets
Structure
3 Market Research
Methodology
3.1 Research
Process
3.2 Secondary
Research
3.3 Primary
Research
3.4 Forecast
Model
Continued….
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