Translation Service Market 2018: Business Strategy, Emerging Opportunities, Global Key Players, Development Status, Competitive Landscape and Industry Estimated to Rise Profitably by Forecast 2022

Market Research Future
Market Research Future published a research report on “Global Translation Service Market Research Report – Forecast 2022” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2022.

Market synopsis

The Global Translation Service Market is driven by huge technological advancement and arrival of machines and software which can translate any foreign language in less time. Another driver for translation services is the growing geographical outreach of enterprises, thereby increasing the foreign client base and thus develops a need for translation. Translation services are the means by which the interaction between technology and human communication is increased more efficiently. Google translate is one of the big examples of free translation service. It has been going through many advancements and now can easily detect any language, slangs, regional keywords, by written means or even by voice.

Many companies are going through various changes in terms of acquisition, partnerships, and product launches. Teleperformance, a major player, in the Translation Service Market, acquired LanguageLine Solutions. The industry has considered this acquisition as a major strategic move for the company. The company claims to provide an efficient and reliable service to its customers and clients. Another major innovator in this market, Amazon Web Services, had launched translation services. The company is aiming to get in line with Google Translate as a way for new and existing businesses to increase products and services.

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Key Players

The prominent players in the market of Translation Service are- LanguageLine Solutions (U.S.), Lionbridge (U.S.), TransPerfect (U.S.), SDL (UK), GlobaLexicon (UK), Global Language Solutions, Inc. (U.S.), Ingco International (U.S.) among others.

Other vendors include Foreign Translations (U.S.), CLS Communication (Switzerland), Net-Translators (U.S.), Dynamic Language (U.S.), Zaharicom, Inc (U.S.), Cuttingedge Translation Services Pvt. Ltd (India), Babylon Software Ltd (Israel), Gengo (U.S.), Mars Translation Services (China), Straker Translations (U.S.) among others

Segmentation

  • On the basis of service type, the market is segmented into written translation services, interpretation service, others
  • On the basis of operation type, the market is segmented into technical translation, machine translation.
  • On the basis of the component, the market is segmented into hardware and software
  • On the basis of application, the market is segmented into commercial, automotive, IT & Telecommunication, healthcare, government and others
  • On the basis of region, the market is segmented into North America, Europe, Asia Pacific, and rest of the world.

Regional analysis

The global translation service market is estimated to grow at a promising rate in upcoming years. The geographical analysis of translation service market is spanned across North America, Europe (including Russia), Asia Pacific (including Australia and New Zealand) and rest of the world (including the Middle East, Africa, and Southern America). Of all the regions, the market is mostly dominated due to higher adoption of translation services in security and government agencies. Due to the recent rise in crime and terrorism, the government security service agencies have started using translation services across the globe to identify and interpret messages and radio signals. The United States has a major contribution, due to a recent change in the government and its strictness. It contributes a major proportion of this growth, especially in government translation Service.

Although there have been many developments in the technology, many enterprises including various start-ups have begun conducting new methodologies and have also partnered with service providers. Also, the region holds more than 60% of the top prominent players providing services in this market. North America is closely followed by Europe region. Europe and North America are the technologically advanced regions, and the factor affecting the growth of this market is the growing application of analytics and increasing deployment of advanced translation service features. Asia-Pacific is expected to be the fastest growing region due to increasing initiatives by the government.

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Intended Audience

  • Translation Service Market services providers
  • Software developers
  • Government agencies
  • Electronic device manufacturers
  • Value-added resellers
  • Security agencies
  • Research Firms

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