“Language Translation Services Market Size, Trends and Industry Analysis by 2026” recent intelligence study by MarketResearchReports.Biz.
The global “Language Translation Services Market”, which is extensively assessed in the report contemplates the best need development angles and how they could affect the market over the figure residency under thought. The experts have taken careful endeavors to thoroughly evaluating every development factor of the market, other than indicating how certain market restrictions could represent a danger to players in the coming years. In addition, the report additionally gives data on top patterns and openings and how players could take advantage of them to take up the difficulties in the “Language Translation Services Market”. This could be a helpful rule for players to concrete their situation in the business or make a rebound in the market.
Language localization is the process of adapting content localization products, services, and applications for regional or local consumption. Language localization is not just language translation. Language localization considers cultural differences, traditions, market trends, modern slang, and sense of humor and accordingly localizes the content to appeal to the customer’s cultural preferences in their own target language. The objective of language localization is to introduce content localization products or services to eliminate possible language and perception sensitivities and to effectively capture the targeted market. Companies that want to sell their products/services to new markets are among those who need localization services the most. Today, software or website localization services as well as application localization services are among the most popular.
The language localization market is reshaping the whole digital and offline content creation industry. In the current market, language services have seen growth of 5% over the last 2016. Among language services, language translation has gained significant traction since the last few years. The localization industry grabbed the fourth place and is one of the fastest growing industries in the U.S. Across the world, due to globalization, companies are localizing their websites and apps or any content to cater to new territories. The major factor which is driving the language localization market is remarkable demand for multilingual content. In the near future, the need to localize and translate digital content is expected to expand exponentially, thus driving the global market. Moreover, improvement of automated interpreting technology will create demand traction for language localization technologies and the trend is anticipated to boost the market globally. However, lack of awareness of language localization is expected to slow down the market growth. Increased usage in neural and adaptive machine translation and continued high demand for video content will further create lucrative opportunities for the market during the forecast period 2018 – 2026.
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The global language localization market can be classified in terms of component, application, and services. In terms of component, the market is segmented into hardware and software services. The hardware segment includes handheld/portable and fixed devices. Software segment of the market is further categorized by deployment. The deployment segment is further cross segmented as on premise and cloud, app based, and web based. The services segment of the language localization market comprises professional and managed services. In terms of application, the market is segmented into digital content & website localization, legal translation, e-learning and training translation, games and mobile app localization, and others.
The global language localization market based on geography is segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (ME&A), and South America (SA). The demographic analysis across these geographic regions is anticipated to show Asia Pacific as the largest market share contributing geography. Moreover, the APAC region is expected to experience highest compound annual growth rate (CAGR) during the forecast period, followed by MEA. APAC growth is driven by language localization adoption across China and Southeast Asian countries such as Japan. Furthermore, the North America and Europe language localization market is expected to show significant compound annual growth during the forecast period.
Companies operating in the global language localization market provide advanced and scalable services in domestic and international markets. Companies are investing to align their solutions and services to deliver at the domestic and international level. Moreover, they are working toward providing service consistency and market speed. Players in the market offer linguistic and technical services to manage and create digital assets, voice-overs, dubbing, transcription, and subtitling. Some of these major players include, Adobe Systems Incorporated, SAS Institute Inc., Sophos Ltd., Micro Focus, Ve Global, DocuSign, AppDynamics (Cisco Systems, Inc.), Capita Translation and Interpreting, Cloudera, Inc., Sprinklr Inc., Anaplan, and Yello Mobile.
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MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.
The report provides the following information:
- Tailwinds and headwinds molding the market’s trajectory
- Market segments based on products, technology, and applications
- Prospects of each segment
- Overall current and possible future size of the market
- Growth pace of the market
- Competitive landscape and key players’ strategies
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- Understand the opportunities and pitfalls awaiting them
- Assess the overall growth scope in the near term
- Strategize effectively with respect to production and distribution
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