Translation Software Market Is Anticipated To Advance at a Noteworthy CAGR of 16.5% By The End Of 2033: Fact.MR Report

The translation software market is expanding rapidly due to factors such as increasing popularity of mobile translation, globalization of commerce, and escalating demand for cloud-based and rule-based translation software


Rockville, Jan. 30, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, the global translation software market is set to garner US$ 37 billion by 2033, expanding at 16.5% CAGR from 2023 to 2033

Translation software is any application that aids human translators in the process of translating text from one language to another. It is intended to increase quality and speed through automation and terminology management.

Growing need for enterprises to localize an increasing amount of content to eliminate language barriers and implement a cost-effective translation system in their business processes is boosting market growth. Moreover, the ability to translate different languages based on consumer choices, as well as a dearth of translators for several specialized disciplines and language combinations, is providing opportunities for market expansion.

Download Free Sample Copy of This Report:
https://www.factmr.com/connectus/sample?flag=S&rep_id=8323


Report Attributes

             Details
Historical Data         2023 - 2032
Value Projection (2032)          US$ 37 Billion
Growth Rate (2022-2032)               16.5 % CAGR
No. of Pages               170 pages
No. of Tables              84 Tables
No. of Figures             112 Figures


Key Takeaways from Market Study

  • The global translation software market is valued at US$ 8 billion in 2023.
  • Worldwide demand for translation software is estimated to increase rapidly at a CAGR of 16.5% during the forecast period (2023 to 2033).
  • The global market is projected to achieve a valuation of US$ 37 billion by 2033.
  • North America accounted for 34.5% share of the worldwide market in 2022.
  • Rule-based translation software is expected to experience considerable demand growth during the study period.

Customization on This Report Is Available
(Save 40% on Country & Region Specific Reports):
https://www.factmr.com/connectus/sample?flag=RC&rep_id=8323

Regional Analysis

North America is leading the global translation software market. The United States is making substantial contributions to the regional market due to the presence of major players and the early adoption of sophisticated technologies.

Competitive Landscape

The global market is extremely fragmented, with multiple vendors present in both developed and emerging nations. The worldwide market has witnessed several new developments in recent years.

Key players in the translation software market are pursuing marketing techniques such as alliances, investments, technological advancements, R&D activities, and acquisitions to expand their international presence. Moreover, many start-ups are entering the market with innovative solutions to compete with established players.

  • SLAIT, a start-up established in the United States, provides AI-powered sign language translation to help deaf and hearing individuals communicate. The software developed by the start-up is compatible with all video communication platforms. During the video connection, the deaf person signs, and the software's neural network model detects movements and translates them into text in real time. The person hearing it then reads the message and responds verbally, which is transformed to text for the deaf person. This allows deaf people to communicate with doctors, caretakers, and loved ones, who are not fluent in sign language. It also permits students to take online programs, which increases graduation rates.

Key Segments of Translation Software Industry Research

  • By Type :
    • Rule-based
    • Statistical-based
    • Hybrid
  • By Deployment Type :
    • On-premise
    • Cloud
  • By End Use :
    • Manufacturing
    • Government
    • IT & Telecom
    • Education
    • BFSI
    • Healthcare
    • Others
  • By Region :
    • North America
    • Latin America
    • Europe
    • Asia Pacific & China
    • Middle East & Africa

Full Access of this Report Is Available
(Via Secured PayPal Payment Gateway)
https://www.factmr.com/checkout/8323

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global translation software market, presenting historical demand data (2018 to 2022) and forecast statistics for the period of 2023 to 2033.

The study divulges essential insights on the market on the basis of type (rule-based, statistical-based, hybrid), deployment type (on-premise, cloud), and end use (manufacturing, government, IT & telecom, education, BFSI, healthcare, others), across five major regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa).

Furthermore, the growing relevance of enterprises in emerging regions, the creation of online content, and the requirement for employees to be able to collaborate globally are driving the global translation software market.

Cloud-based translation software is gaining traction among enterprises to conduct real-time audio translation with greater accuracy and simplicity of integration. Cloud-based translation software allows businesses to process content quickly across numerous use cases and scenarios. It simplifies the process of translating several or long text files that require immediate attention. Cloud-based translation software offers safe access to projects, tasks, and translations while adhering to local data governance standards such as the German Federal Data Protection Act and the General Data Protection Regulation (GDPR).

Table of Content

1. Global Market - Executive Summary

    1.1. Global Market Overview

    1.2. Demand Side Trends

    1.3. Supply Side Trends

    1.4. Fact.MR Analysis and Recommendations

2. Global Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Introduction and Definition

3. Market Risks and Trends Assessment

    3.1. Risk Assessment

        3.1.1. COVID-19 Crisis and Impact on Translation Software

        3.1.2. COVID-19 Crisis and Impact on Aprotic Solvent Prices

        3.1.3. COVID-19 Impact Benchmark with Previous Crisis

            3.1.3.1. Change in Demand

            3.1.3.2. Before and After COVID-19 Crisis (Projected)

            3.1.3.3. Before and After Sub-prime Crisis – 2008 (Actual)

            3.1.3.4. Change in Demand post Recovery Period (After Each Crisis)

        3.1.4. Impact on Market and Value (US$ Mn)

            3.1.4.1. Likely Loss of Value in 2022

            3.1.4.2. Mid-term and Long Term Forecast

            3.1.4.3. Quarter by Quarter Demand and Recovery Assessment

        3.1.5. Anticipated Demand and Value Recovery Curve

            3.1.5.1. Likelihood of U-Shape Recovery

            3.1.5.2. Likelihood of L-Shape Recovery

        3.1.6. Recovery Period Assessment by Key Countries

        3.1.7. Recovery Assessment by Key Market Segments

        3.1.8. Action Points and Recommendations for Suppliers

        3.1.9. Impact on Trade Balance

TOC Contd…..

Check out more related studies published by Fact.MR Research: 

Server Virtualization Software Market Outlook: The global server virtualization software market is predicted to expand at a CAGR of 7.1% and touch a valuation of US$ 16 billion by the end of 2033, up from US$ 8 billion in 2023.

Software Defined Perimeter Market Insights: The global software defined perimeter market is expected to strengthen its hold on the global market at a CAGR of 14.3% during 2022-2032. The software defined perimeter market share is estimated to reach US$ 28.2 Bn by 2032 from US$ 7.4 Bn in 2022.

E-commerce Software and Platform Industry: The e-commerce software and platform market has garnered a market value of US$ 3.81 Bn in 2022, anticipated to register a positive CAGR of 12.5% in the forecast period 2022-2032 and reach a value of US$ 12.37 Bn.

Clientless Remote Support Software Market Analysis : The global clientless remote support software market is estimated at USD 1.7 Billion in 2022 and is forecast to surpass USD 6.7 Billion by 2032, growing at a CAGR of 14.5% from 2022 to 2032.

Public Safety Software Market Overview: The global public safety software market reached a valuation of around US$ 7 Bn in 2020, and is slated to rise at a CAGR of 11% to top US$ 20 Bn by 2031. Demand for computer-aided dispatch solutions is set to increase at a CAGR of 9% across the assessment period of 2021 to 2031.

About Fact.MR
We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year. The dedicated team of 400-plus analysts and consultants is committed to achieving the utmost level of our client’s satisfaction.

Contact: 
US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583, +353-1-4434-232 (D)
Connect to Analyst: Mr. Shubham Patidar
Email : shubham@factmr.com
Sales Team : sales@factmr.com
Follow Us: LinkedIn | Twitter | YouTube