Global Language Translation Software Market is valued at approximately USD 10.91 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 17.3% over the forecast period 2023-2030. Translation software refers to any computer program that aids individuals in converting content from one language to another. It encompasses a range of tools, features, and resources that streamline the entire translation process, facilitating the production of accurate and top-notch translations. Effective translation software typically integrates project management, data analysis and reporting, and content delivery, providing a centralized solution for all translation-related tasks. Moreover, the growth of the language translation software market is being propelled by significant factors such as the rise of e-commerce platforms, increasing demand for localization and the surge in government investments.
The proliferation of smartphones worldwide is a key driver for the growth of the language translation software market. According to Statista, the global number of smartphone users is projected to experience consistent growth from 2023 to 2028, with an estimated increase of 910.3 million users (+17.33 percent). This trend signifies the fifth consecutive year of growth and is expected to result in a record high of 6.2 billion smartphone users by 2028. Importantly, the number of smartphone users has been steadily rising in recent years, indicating a continuous rise in global smartphone adoption. Additionally, rapid expansion due to the growing demand for content localization and the increasing requirements for business communication are the factors expected to create abundant opportunities for the market to expand further anticipated period. However, the growth of the language translation software market is hindered by the availability of alternative tools and the accessibility of free language translators as well as the concerns related to data privacy and security.
The key regions considered for the Global Language Translation Software Market study include: Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the presence of a strong industrial base, government initiatives promoting innovation, high demand for high-quality translation services, and the significant purchasing power in the U.S. Asia Pacific is expected to fastest growing during the forecast period, companies in the region are actively developing new technological advancements, such as AI-enabled translators, to enhance the translation process. These factors are expected to drive the expansion of the market significantly in the forecasted period.
Major market players included in this report are:
- Inriver
- Alphabet Inc
- LanguageLine Solutions
- Apptek, Inc.
- Lingotek
- Babylon Software Ltd.
- International Business Machines Corporation
- Microsoft Corporation
- Acolad Group
- Global Linguist Solutions LLC
Recent Developments in the Market:
- In December 2022, Process9, a prominent language technology company in India, launched the latest edition of its cloud-based neural machine translation technology called MoxWave. This innovative software-as-a-service (SaaS) product is developed in India and offers the capability to translate content into 13 Indian languages, including the popular combination of Hindi and English known as Hinglish. The company is continuously expanding the range of languages supported by the product, encompassing both Indian and global languages.
- In April 2023, AXL EdTech is developing a new product named "Merlin," a proprietary translation software designed for e-learning courses. It utilizes an AI avatar that translates videos, replicating the original speaker's voice timbre and lip movements for a hyper-realistic translation experience. Merlin adapt to any language and is able to automatically translate lessons uploaded to the AXL platform into 50 different languages.
Global Language Translation Software Market Report Scope:
- Historical Data: 2020 - 2021
- Base Year for Estimation: 2022
- Forecast period: 2023-2030
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Component, Solution Type, Enterprise Size, Industry Vertical, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Component:
By Solution Type:
- Rule-Based Machine Translation
- Statistical Based Machine Translation
- Hybrid Machine Translation
By Enterprise Size:
By Industry Vertical:
- IT and Telecom
- Healthcare
- Manufacturing
- BFSI
- Education
- Travel and Tourism
- Others
By Region:
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Language Translation Software Market, by Region, 2020-2030 (USD Billion)
- 1.2.2. Language Translation Software Market, by Component, 2020-2030 (USD Billion)
- 1.2.3. Language Translation Software Market, by Solution Type, 2020-2030 (USD Billion)
- 1.2.4. Language Translation Software Market, by Enterprise Size, 2020-2030 (USD Billion)
- 1.2.5. Language Translation Software Market, by Industry Vertical, 2020-2030 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Language Translation Software Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Language Translation Software Market Dynamics
- 3.1. Language Translation Software Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
- 3.1.1.1. Increasing penetration of smartphones
- 3.1.1.2. Surge in the government investments
- 3.1.2. Market Challenges
- 3.1.2.1. Concerns related to data privacy and security
- 3.1.2.2. Availability of alternative tools
- 3.1.3. Market Opportunities
- 3.1.3.1. Growing demand for content localization
- 3.1.3.2. Increasing requirements for business communication
Chapter 4. Global Language Translation Software Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Porter's 5 Force Impact Analysis
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. COVID-19 Impact Analysis
- 4.7. Disruptive Trends
- 4.8. Industry Expert Perspective
- 4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Language Translation Software Market, by Component
- 5.1. Market Snapshot
- 5.2. Global Language Translation Software Market by Component, Performance - Potential Analysis
- 5.3. Global Language Translation Software Market Estimates & Forecasts by Component 2020-2030 (USD Billion)
- 5.4. Language Translation Software Market, Sub Segment Analysis
- 5.4.1. Solution
- 5.4.2. Services
Chapter 6. Global Language Translation Software Market, by Solution Type
- 6.1. Market Snapshot
- 6.2. Global Language Translation Software Market by Solution Type, Performance - Potential Analysis
- 6.3. Global Language Translation Software Market Estimates & Forecasts by Solution Type 2020-2030 (USD Billion)
- 6.4. Language Translation Software Market, Sub Segment Analysis
- 6.4.1. Rule-Based Machine Translation
- 6.4.2. Statistical Based Machine Translation
- 6.4.3. Hybrid Machine Translation
Chapter 7. Global Language Translation Software Market, by Enterprise Size
- 7.1. Market Snapshot
- 7.2. Global Language Translation Software Market by Enterprise Size, Performance - Potential Analysis
- 7.3. Global Language Translation Software Market Estimates & Forecasts by Enterprise Size 2020-2030 (USD Billion)
- 7.4. Language Translation Software Market, Sub Segment Analysis
- 7.4.1. Large Enterprises
- 7.4.2. SMEs
Chapter 8. Global Language Translation Software Market, by Industry Vertical
- 8.1. Market Snapshot
- 8.2. Global Language Translation Software Market by Industry Vertical, Performance - Potential Analysis
- 8.3. Global Language Translation Software Market Estimates & Forecasts by Industry Vertical 2020-2030 (USD Billion)
- 8.4. Language Translation Software Market, Sub Segment Analysis
- 8.4.1. IT and Telecom
- 8.4.2. Healthcare
- 8.4.3. Manufacturing
- 8.4.4. BFSI
- 8.4.5. Education
- 8.4.6. Travel and Tourism
- 8.4.7. Others
Chapter 9. Global Language Translation Software Market, Regional Analysis
- 9.1. Top Leading Countries
- 9.2. Top Emerging Countries
- 9.3. Language Translation Software Market, Regional Market Snapshot
- 9.4. North America Language Translation Software Market
- 9.4.1. U.S. Language Translation Software Market
- 9.4.1.1. Component breakdown estimates & forecasts, 2020-2030
- 9.4.1.2. Solution Type breakdown estimates & forecasts, 2020-2030
- 9.4.1.3. Enterprise Size breakdown estimates & forecasts, 2020-2030
- 9.4.1.4. Industry Vertical breakdown estimates & forecasts, 2020-2030
- 9.4.2. Canada Language Translation Software Market
- 9.5. Europe Language Translation Software Market Snapshot
- 9.5.1. U.K. Language Translation Software Market
- 9.5.2. Germany Language Translation Software Market
- 9.5.3. France Language Translation Software Market
- 9.5.4. Spain Language Translation Software Market
- 9.5.5. Italy Language Translation Software Market
- 9.5.6. Rest of Europe Language Translation Software Market
- 9.6. Asia-Pacific Language Translation Software Market Snapshot
- 9.6.1. China Language Translation Software Market
- 9.6.2. India Language Translation Software Market
- 9.6.3. Japan Language Translation Software Market
- 9.6.4. Australia Language Translation Software Market
- 9.6.5. South Korea Language Translation Software Market
- 9.6.6. Rest of Asia Pacific Language Translation Software Market
- 9.7. Latin America Language Translation Software Market Snapshot
- 9.7.1. Brazil Language Translation Software Market
- 9.7.2. Mexico Language Translation Software Market
- 9.8. Middle East & Africa Language Translation Software Market
- 9.8.1. Saudi Arabia Language Translation Software Market
- 9.8.2. South Africa Language Translation Software Market
- 9.8.3. Rest of Middle East & Africa Language Translation Software Market
Chapter 10. Competitive Intelligence
- 10.1. Key Company SWOT Analysis
- 10.1.1. Company 1
- 10.1.2. Company 2
- 10.1.3. Company 3
- 10.2. Top Market Strategies
- 10.3. Company Profiles
- 10.3.1. Inriver
- 10.3.1.1. Key Information
- 10.3.1.2. Overview
- 10.3.1.3. Financial (Subject to Data Availability)
- 10.3.1.4. Product Summary
- 10.3.1.5. Recent Developments
- 10.3.2. Alphabet Inc
- 10.3.3. LanguageLine Solutions
- 10.3.4. Apptek, Inc.
- 10.3.5. Lingotek
- 10.3.6. Babylon Software Ltd.
- 10.3.7. International Business Machines Corporation
- 10.3.8. Microsoft Corporation
- 10.3.9. Acolad Group
- 10.3.10. Global Linguist Solutions LLC
Chapter 11. Research Process
- 11.1. Research Process
- 11.1.1. Data Mining
- 11.1.2. Analysis
- 11.1.3. Market Estimation
- 11.1.4. Validation
- 11.1.5. Publishing
- 11.2. Research Attributes
- 11.3. Research Assumption