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Global Language Translation Software Market Size, Forecast: By Component: Solutions, Services; By Enterprise Size: Large Enterprises, Small and Medium Enterprises (SMEs); By Application: Commercial, Educational, Financial, Military, Others; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032

Global Language Translation Software Market Outlook

The global language translation software market size was approximately USD 10.11 billion in 2023. The market is assessed to grow at a CAGR of 15.3% between 2024 and 2032, reaching a value of around USD 37.02 billion by 2032.

Key Trends in the Market

A language translation software is a solution that enables masses to translate written or spoken words from one language into another. To accomplish this, the software splits the original text into various segments and replaces the words with synonyms in the target language. Its various algorithms draw upon its large database to quickly produce high-quality translations that do not require human intervention.

With rapid globalisation, people are increasingly using language translation software tools to learn a new language as it helps them to connect better with native speakers. Moreover, the language translation software market demand is being fuelled by the rising focus of businesses to deliver personalised and unique content in multiple languages.

The flourishing travel and hospitality sectors, buoyed by growing disposable incomes and evolving lifestyles, have surged the demand for language translation software. Travel operators and hospitality service providers use language translation solutions to provide information to tourists regarding reservation booking and sightseeing and offer translated brochures and guides. They also allow travellers to review their business in their native language so that potential visitors can make informed decisions about their travel plans.

Some prominent language translation software market trends are the rising demand for translation services In government agencies and technological advancements and innovations. Advancements in machine learning, artificial intelligence (AI), and natural language processing (NLP) are expected to automate translation and empower language translation software to develop high-quality translations in the coming years.

Market Analysis

Based on component, the market is divided into solutions and services. On the basis of enterprise size, the market can be categorised into large enterprises and small and medium enterprises (SMEs).

The global language translation software market segmentations, on the basis of application, include commercial, educational, financial, and military, among others. The major regional markets for language translation software include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global language translation software market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

Alphabet Inc.

Microsoft Corporation

Redokun Srls

Smartcat Platform Inc.

memoQ

Babylon Software Ltd

Text United GmbH

Lingohub GmbH

Smartling Inc.

The Babel Fish Corporation

Others

Market Share by Application

As per the language translation software market analysis, the demand for language translation software is increasing significantly in commercial applications. Many businesses use language translation software for customising their product labels and providing quality information about product usage in their advertisements.

Apart from this, language translation software is also used in the financial sector to translate legal contracts and MoUs into the native language of each signatory company mentioned and also help a business interact with international clients and employees easily.

Market Share by Region

Europe accounts for a significant portion of the global language translation software market share as it is a linguistically diverse region with over 60 regional and indigenous languages and 24 official languages. Some popular European languages are German, French, Croatian, Hungarian, and Italian, among others. As the second largest economy in the world, Europe supports thousands of industries and services, hence the demand for language translation software is expected to remain strong in the forecast period.

North America is another large market for language translation software. The thriving healthcare industry in the USA is witnessing an upward trend in the number of international patients visiting for treatment. This is supporting the demand for language translation tools among foreign patients. Also, with the growth of the game and media localisation industry, the demand for language translation software for localising video games and media operations has been rising steadily and is expected to remain steadfast in the projected period.

Competitive Landscape

Alphabet Inc. was founded in 2015 and is headquartered in California, United States. It manufactures a wide range of products including Pixel smartphones and smartwatches and hosts platforms like Google Search, Google Maps, You Tube, and Google Play. Apart from this, it also offers subscription-based products and research and development services. Being the parent company of Google, it invests heavily in machine learning and artificial intelligence.

Microsoft Corporation was founded in 1975 and is headquartered in Washington, the United States. It provides a variety of hardware and software services to businesses, including cloud computing services, video games, computer and gaming hardware, and search services, among others. It has offices in more than 60 countries across the world.

Redokun Srls was founded in 2014 and is headquartered in Montebelluna, Italy. It provides an easy-to-use translation management system and translation software. Whenever someone uploads a document in a foreign language, Redokun translates it as commanded and keeps the assignment history intact, so that the same words can be used in another translation. If the document undergoes changes, Redokun shares an updated version of the same, so that further communication flows smoothly and quality of work is not compromised.

Other language translation software market players include Smartcat Platform Inc., memoQ, Babylon Software Ltd, Text United GmbH, Lingohub GmbH, Smartling Inc., and The Babel Fish Corporation, among others.

Key Highlights of the Report

REPORT FEATURES	DETAILS
Base Year	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Scope of the Report	Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment: Component Enterprise Size Application Region
Breakup by Component	Solutions Services
Breakup by Enterprise Size	Large Enterprises Small and Medium Enterprises (SMEs)
Breakup by Application	Commercial Educational Financial Military Others
Breakup by Region	North America United States of America Canada Europe United Kingdom Germany France Italy Others Asia Pacific China Japan India ASEAN Australia Others Latin America Brazil Argentina Mexico Others Middle East and Africa Saudi Arabia United Arab Emirates Nigeria South Africa Others
Market Dynamics	SWOT Analysis Porter's Five Forces Analysis Key Indicators for Demand Key Indicators for Price
Competitive Landscape	Market Structure Company Profiles Company Overview Product Portfolio Demographic Reach and Achievements Certifications
Companies Covered	Alphabet Inc. Microsoft Corporation Redokun Srls Smartcat Platform Inc. memoQ Babylon Software Ltd Text United GmbH Lingohub GmbH Smartling Inc. The Babel Fish Corporation Others

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1   Preface
2   Report Coverage – Key Segmentation and Scope
3   Report Description
   3.1   Market Definition and Outlook
   3.2   Properties and Applications
   3.3   Market Analysis
   3.4   Key Players
4   Key Assumptions
5   Executive Summary
   5.1   Overview
   5.2   Key Drivers
   5.3   Key Developments
   5.4   Competitive Structure
   5.5   Key Industrial Trends
6   Market Snapshot
   6.1   Global
   6.2   Regional
7   Opportunities and Challenges in the Market
8   Global Language Translation Software Market Analysis
   8.1   Key Industry Highlights
   8.2   Global Language Translation Software Historical Market (2018-2023)
   8.3   Global Language Translation Software Market Forecast (2024-2032)
   8.4   Global Language Translation Software Market by Component
       8.4.1   Solutions
           8.4.1.1   Historical Trend (2018-2023)
           8.4.1.2   Forecast Trend (2024-2032)
           8.4.1.3   Breakup by Type
               8.4.1.3.1   Rule-Based Machine Translation
               8.4.1.3.2   Statistical Based Machine Translation
               8.4.1.3.3   Hybrid Machine Translation
       8.4.2   Services
           8.4.2.1   Historical Trend (2018-2023)
           8.4.2.2   Forecast Trend (2024-2032)
   8.5   Global Language Translation Software Market by Enterprise Size
       8.5.1   Large Enterprises
           8.5.1.1   Historical Trend (2018-2023)
           8.5.1.2   Forecast Trend (2024-2032)
       8.5.2   Small and Medium Enterprises (SMEs)
           8.5.2.1   Historical Trend (2018-2023)
           8.5.2.2   Forecast Trend (2024-2032)
   8.6   Global Language Translation Software Market by Application
       8.6.1   Commercial
           8.6.1.1   Historical Trend (2018-2023)
           8.6.1.2   Forecast Trend (2024-2032)
       8.6.2   Educational
           8.6.2.1   Historical Trend (2018-2023)
           8.6.2.2   Forecast Trend (2024-2032)
       8.6.3   Financial
           8.6.3.1   Historical Trend (2018-2023)
           8.6.3.2   Forecast Trend (2024-2032)
       8.6.4   Military
           8.6.4.1   Historical Trend (2018-2023)
           8.6.4.2   Forecast Trend (2024-2032)
       8.6.5   Others
   8.7   Global Language Translation Software Market by Region
       8.7.1   North America
           8.7.1.1   Historical Trend (2018-2023)
           8.7.1.2   Forecast Trend (2024-2032)
       8.7.2   Europe
           8.7.2.1   Historical Trend (2018-2023)
           8.7.2.2   Forecast Trend (2024-2032)
       8.7.3   Asia Pacific
           8.7.3.1   Historical Trend (2018-2023)
           8.7.3.2   Forecast Trend (2024-2032)
       8.7.4   Latin America
           8.7.4.1   Historical Trend (2018-2023)
           8.7.4.2   Forecast Trend (2024-2032)
       8.7.5   Middle East and Africa
           8.7.5.1   Historical Trend (2018-2023)
           8.7.5.2   Forecast Trend (2024-2032)
9   North America Language Translation Software Market Analysis
   9.1   United States of America
       9.1.1   Historical Trend (2018-2023)
       9.1.2   Forecast Trend (2024-2032)
   9.2   Canada
       9.2.1   Historical Trend (2018-2023)
       9.2.2   Forecast Trend (2024-2032)
10   Europe Language Translation Software Market Analysis
   10.1   United Kingdom
       10.1.1   Historical Trend (2018-2023)
       10.1.2   Forecast Trend (2024-2032)
   10.2   Germany
       10.2.1   Historical Trend (2018-2023)
       10.2.2   Forecast Trend (2024-2032)
   10.3   France
       10.3.1   Historical Trend (2018-2023)
       10.3.2   Forecast Trend (2024-2032)
   10.4   Italy
       10.4.1   Historical Trend (2018-2023)
       10.4.2   Forecast Trend (2024-2032)
   10.5   Others
11   Asia Pacific Language Translation Software Market Analysis
   11.1   China
       11.1.1   Historical Trend (2018-2023)
       11.1.2   Forecast Trend (2024-2032)
   11.2   Japan
       11.2.1   Historical Trend (2018-2023)
       11.2.2   Forecast Trend (2024-2032)
   11.3   India
       11.3.1   Historical Trend (2018-2023)
       11.3.2   Forecast Trend (2024-2032)
   11.4   ASEAN
       11.4.1   Historical Trend (2018-2023)
       11.4.2   Forecast Trend (2024-2032)
   11.5   Australia
       11.5.1   Historical Trend (2018-2023)
       11.5.2   Forecast Trend (2024-2032)
   11.6   Others
12   Latin America Language Translation Software Market Analysis
   12.1   Brazil
       12.1.1   Historical Trend (2018-2023)
       12.1.2   Forecast Trend (2024-2032)
   12.2   Argentina
       12.2.1   Historical Trend (2018-2023)
       12.2.2   Forecast Trend (2024-2032)
   12.3   Mexico
       12.3.1   Historical Trend (2018-2023)
       12.3.2   Forecast Trend (2024-2032)
   12.4   Others
13   Middle East and Africa Language Translation Software Market Analysis
   13.1   Saudi Arabia
       13.1.1   Historical Trend (2018-2023)
       13.1.2   Forecast Trend (2024-2032)
   13.2   United Arab Emirates
       13.2.1   Historical Trend (2018-2023)
       13.2.2   Forecast Trend (2024-2032)
   13.3   Nigeria
       13.3.1   Historical Trend (2018-2023)
       13.3.2   Forecast Trend (2024-2032)
   13.4   South Africa
       13.4.1   Historical Trend (2018-2023)
       13.4.2   Forecast Trend (2024-2032)
   13.5   Others
14   Market Dynamics
   14.1   SWOT Analysis
       14.1.1   Strengths
       14.1.2   Weaknesses
       14.1.3   Opportunities
       14.1.4   Threats
   14.2   Porter’s Five Forces Analysis
       14.2.1   Supplier’s Power
       14.2.2   Buyer’s Power
       14.2.3   Threat of New Entrants
       14.2.4   Degree of Rivalry
       14.2.5   Threat of Substitutes
   14.3   Key Indicators for Demand
   14.4   Key Indicators for Price
15   Competitive Landscape
   15.1   Market Structure
   15.2   Company Profiles
       15.2.1   Alphabet Inc.
           15.2.1.1   Company Overview
           15.2.1.2   Product Portfolio
           15.2.1.3   Demographic Reach and Achievements
           15.2.1.4   Certifications
       15.2.2   Microsoft Corporation
           15.2.2.1   Company Overview
           15.2.2.2   Product Portfolio
           15.2.2.3   Demographic Reach and Achievements
           15.2.2.4   Certifications
       15.2.3   Redokun Srls
           15.2.3.1   Company Overview
           15.2.3.2   Product Portfolio
           15.2.3.3   Demographic Reach and Achievements
           15.2.3.4   Certifications
       15.2.4   Smartcat Platform Inc.
           15.2.4.1   Company Overview
           15.2.4.2   Product Portfolio
           15.2.4.3   Demographic Reach and Achievements
           15.2.4.4   Certifications
       15.2.5   memoQ
           15.2.5.1   Company Overview
           15.2.5.2   Product Portfolio
           15.2.5.3   Demographic Reach and Achievements
           15.2.5.4   Certifications
       15.2.6   Babylon Software Ltd.
           15.2.6.1   Company Overview
           15.2.6.2   Product Portfolio
           15.2.6.3   Demographic Reach and Achievements
           15.2.6.4   Certifications
       15.2.7   Text United GmbH
           15.2.7.1   Company Overview
           15.2.7.2   Product Portfolio
           15.2.7.3   Demographic Reach and Achievements
           15.2.7.4   Certifications
       15.2.8   Lingohub GmbH
           15.2.8.1   Company Overview
           15.2.8.2   Product Portfolio
           15.2.8.3   Demographic Reach and Achievements
           15.2.8.4   Certifications
       15.2.9   Smartling Inc.
           15.2.9.1   Company Overview
           15.2.9.2   Product Portfolio
           15.2.9.3   Demographic Reach and Achievements
           15.2.9.4   Certifications
       15.2.10   The Babel Fish Corporation
           15.2.10.1   Company Overview
           15.2.10.2   Product Portfolio
           15.2.10.3   Demographic Reach and Achievements
           15.2.10.4   Certifications
       15.2.11   Others
16   Key Trends and Developments in the Market

List of Key Figures and Tables

1.   Global Language Translation Software Market: Key Industry Highlights, 2018 and 2032
2.   Global Language Translation Software Historical Market: Breakup by Component (USD Billion), 2018-2023
3.   Global Language Translation Software Market Forecast: Breakup by Component (USD Billion), 2024-2032
4.   Global Language Translation Software Historical Market: Breakup by Enterprise Size (USD Billion), 2018-2023
5.   Global Language Translation Software Market Forecast: Breakup by Enterprise Size (USD Billion), 2024-2032
6.   Global Language Translation Software Historical Market: Breakup by Application (USD Billion), 2018-2023
7.   Global Language Translation Software Market Forecast: Breakup by Application (USD Billion), 2024-2032
8.   Global Language Translation Software Historical Market: Breakup by Region (USD Billion), 2018-2023
9.   Global Language Translation Software Market Forecast: Breakup by Region (USD Billion), 2024-2032
10.   North America Language Translation Software Historical Market: Breakup by Country (USD Billion), 2018-2023
11.   North America Language Translation Software Market Forecast: Breakup by Country (USD Billion), 2024-2032
12.   Europe Language Translation Software Historical Market: Breakup by Country (USD Billion), 2018-2023
13.   Europe Language Translation Software Market Forecast: Breakup by Country (USD Billion), 2024-2032
14.   Asia Pacific Language Translation Software Historical Market: Breakup by Country (USD Billion), 2018-2023
15.   Asia Pacific Language Translation Software Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.   Latin America Language Translation Software Historical Market: Breakup by Country (USD Billion), 2018-2023
17.   Latin America Language Translation Software Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.   Middle East and Africa Language Translation Software Historical Market: Breakup by Country (USD Billion), 2018-2023
19.   Middle East and Africa Language Translation Software Market Forecast: Breakup by Country (USD Billion), 2024-2032
20.   Global Language Translation Software Market Structure

Key Questions Answered in the Report

What was the global language translation software market value in 2023?

In 2023, the market reached an approximate value of USD 10.11 billion.

What is the growth rate of the global language translation software market?

The market is estimated to grow at a CAGR of 15.3% between 2024 and 2032.

What is the forecast outlook of the language translation software market for 2024-2032?

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of around USD 37.02 billion by 2032.

What are the major market drivers?

The market for translating software is being driven by globalisation of languages and rising trend of multilingualism.

What are the key trends of the market?

The key trends aiding the market expansion include surging international collaboration and partnership, the rise in intelligence sharing between nations, and the growth of travel and tourism industry.

What are the major regional markets of language translation software, according to the EMR report?

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

What are the major components of language translation software?

The major components of the software are solutions and services.

Who are the key market players, according to the global language translation software market report?

The major players in the market are Alphabet Inc., Microsoft Corporation, Redokun Srls, Smartcat Platform Inc., memoQ, Babylon Software Ltd, Text United GmbH, Lingohub GmbH, Smartling Inc., and The Babel Fish Corporation, among others.

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