The Asia Pacific Language Translation Software Market should witness market growth of 17.6% CAGR during the forecast period (2022-2028).
Online information searches are becoming more and more common, which could increase the need for language translation tools and services. Similar to how the smartphone industry has benefited from technological advancements, the language translation software market is anticipated to expand significantly over the next several years. Businesses emphasize effective regionalmarket penetration and international networksto retain the fast-paced market landscape.
Businesses looking to boost productivity are anticipated to drive increasing demand for language translation software globally. Additionally, developing nations like India and China are anticipated to see significant growth in their business sectors, creating enormous potential prospects. It is anticipated that this circumstance will advance the market for language translation software.
The expanding use of mobile translation as well as the globalization of trade are two of the key market factors. In addition, cloud computing is rapidly expanding due to its flexibility and economic benefits. Moreover the increasing adoption of multilingual AI is also promoting the acceptance of language translation software. The application of AI gives data on clients' demographics, social and purchasing history. Utilizing these facts and insights, content and websites are localized, and adverts are made to reflect the audience's demographics.
Asia Pacific is a large region considering the number of spoken languages. Therefore, translation services are especially needed when marketing initiatives are beingtranslatedand culturally adapted. There are a lot of cultural aspects to take into account. Multicultural marketing encompasses many strategies, including transcreation, which is converting content from one language orculture to another while preserving the original aim, style, tone, and context. To ensure that diverse types of media, such as a website, look and convey in words and visuals what a firm intended them to and factors including website localization and multimedia, have increased the demand for translation tools. Hence, the widespread demand for language translation are boosting the expansion of the market in the region.
The China market dominated the Asia Pacific Language Translation Software Market by Country 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2,041.1 million by 2028. The Japan market is estimated to grow a CAGR of 16.9% during (2022-2028). Additionally, The India market would experience a CAGR of 18.3% during (2022-2028).
Based on Component, the market is segmented into Solution and Services. Based on Solution Type, the market is segmented into Rule-based Machine Translation, Statistical Machine Translation and Hybrid Machine Translation. Based on Vertical, the market is segmented into IT & Telecom, Manufacturing, Education, Healthcare, BFSI, Travel & Tourism and Others. Based on Enterprise Size, the market is segmented into Large Enterprises and SMEs. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Google LLC (Alphabet Inc.), Acolad Group, AppTek, LanguageLine Solutions (Teleperformance SE), inRiver AB, Babylon Software Ltd., Lingotek, Inc., and SYSTRAN S.A.
Online information searches are becoming more and more common, which could increase the need for language translation tools and services. Similar to how the smartphone industry has benefited from technological advancements, the language translation software market is anticipated to expand significantly over the next several years. Businesses emphasize effective regionalmarket penetration and international networksto retain the fast-paced market landscape.
Businesses looking to boost productivity are anticipated to drive increasing demand for language translation software globally. Additionally, developing nations like India and China are anticipated to see significant growth in their business sectors, creating enormous potential prospects. It is anticipated that this circumstance will advance the market for language translation software.
The expanding use of mobile translation as well as the globalization of trade are two of the key market factors. In addition, cloud computing is rapidly expanding due to its flexibility and economic benefits. Moreover the increasing adoption of multilingual AI is also promoting the acceptance of language translation software. The application of AI gives data on clients' demographics, social and purchasing history. Utilizing these facts and insights, content and websites are localized, and adverts are made to reflect the audience's demographics.
Asia Pacific is a large region considering the number of spoken languages. Therefore, translation services are especially needed when marketing initiatives are beingtranslatedand culturally adapted. There are a lot of cultural aspects to take into account. Multicultural marketing encompasses many strategies, including transcreation, which is converting content from one language orculture to another while preserving the original aim, style, tone, and context. To ensure that diverse types of media, such as a website, look and convey in words and visuals what a firm intended them to and factors including website localization and multimedia, have increased the demand for translation tools. Hence, the widespread demand for language translation are boosting the expansion of the market in the region.
The China market dominated the Asia Pacific Language Translation Software Market by Country 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2,041.1 million by 2028. The Japan market is estimated to grow a CAGR of 16.9% during (2022-2028). Additionally, The India market would experience a CAGR of 18.3% during (2022-2028).
Based on Component, the market is segmented into Solution and Services. Based on Solution Type, the market is segmented into Rule-based Machine Translation, Statistical Machine Translation and Hybrid Machine Translation. Based on Vertical, the market is segmented into IT & Telecom, Manufacturing, Education, Healthcare, BFSI, Travel & Tourism and Others. Based on Enterprise Size, the market is segmented into Large Enterprises and SMEs. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Google LLC (Alphabet Inc.), Acolad Group, AppTek, LanguageLine Solutions (Teleperformance SE), inRiver AB, Babylon Software Ltd., Lingotek, Inc., and SYSTRAN S.A.
Scope of the Study
By Component
- Solution
- Rule-based Machine Translation
- Statistical Machine Translation
- Hybrid Machine Translation
- Services
By Vertical
- IT & Telecom
- Manufacturing
- Education
- Healthcare
- BFSI
- Travel & Tourism
- Others
By Enterprise Size
- Large Enterprises
- SMEs
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- IBM Corporation
- Google LLC (Alphabet Inc.)
- Acolad Group
- AppTek
- LanguageLine Solutions (Teleperformance SE)
- inRiver AB
- Babylon Software Ltd.
- Lingotek, Inc.
- SYSTRAN S.A.
Unique Offerings
- Exhaustive coverage
- The highest number of Market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Asia Pacific Language Translation Software Market, by Component
1.4.2 Asia Pacific Language Translation Software Market, by Vertical
1.4.3 Asia Pacific Language Translation Software Market, by Enterprise Size
1.4.4 Asia Pacific Language Translation Software Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition & Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Market Share Analysis, 2021
Chapter 4. Asia Pacific Language Translation Software Market by Component
4.1 Asia Pacific Solution Market by Country
4.2 Asia Pacific Language Translation Software Market by Solution Type
4.2.1 Asia Pacific Rule-based Machine Translation Market by Country
4.2.2 Asia Pacific Statistical Machine Translation Market by Country
4.2.3 Asia Pacific Hybrid Machine Translation Market by Country
4.3 Asia Pacific Services Market by Country
Chapter 5. Asia Pacific Language Translation Software Market by Vertical
5.1 Asia Pacific IT & Telecom Market by Country
5.2 Asia Pacific Manufacturing Market by Country
5.3 Asia Pacific Education Market by Country
5.4 Asia Pacific Healthcare Market by Country
5.5 Asia Pacific BFSI Market by Country
5.6 Asia Pacific Travel & Tourism Market by Country
5.7 Asia Pacific Other Vertical Market by Country
Chapter 6. Asia Pacific Language Translation Software Market by Enterprise Size
6.1 Asia Pacific Large Enterprises Market by Country
6.2 Asia Pacific SMEs Market by Country
Chapter 7. Asia Pacific Language Translation Software Market by Country
7.1 China Language Translation Software Market
7.1.1 China Language Translation Software Market by Component
7.1.1.1 China Language Translation Software Market by Solution Type
7.1.2 China Language Translation Software Market by Vertical
7.1.3 China Language Translation Software Market by Enterprise Size
7.2 Japan Language Translation Software Market
7.2.1 Japan Language Translation Software Market by Component
7.2.1.1 Japan Language Translation Software Market by Solution Type
7.2.2 Japan Language Translation Software Market by Vertical
7.2.3 Japan Language Translation Software Market by Enterprise Size
7.3 India Language Translation Software Market
7.3.1 India Language Translation Software Market by Component
7.3.1.1 India Language Translation Software Market by Solution Type
7.3.2 India Language Translation Software Market by Vertical
7.3.3 India Language Translation Software Market by Enterprise Size
7.4 South Korea Language Translation Software Market
7.4.1 South Korea Language Translation Software Market by Component
7.4.1.1 South Korea Language Translation Software Market by Solution Type
7.4.2 South Korea Language Translation Software Market by Vertical
7.4.3 South Korea Language Translation Software Market by Enterprise Size
7.5 Singapore Language Translation Software Market
7.5.1 Singapore Language Translation Software Market by Component
7.5.1.1 Singapore Language Translation Software Market by Solution Type
7.5.2 Singapore Language Translation Software Market by Vertical
7.5.3 Singapore Language Translation Software Market by Enterprise Size
7.6 Malaysia Language Translation Software Market
7.6.1 Malaysia Language Translation Software Market by Component
7.6.1.1 Malaysia Language Translation Software Market by Solution Type
7.6.2 Malaysia Language Translation Software Market by Vertical
7.6.3 Malaysia Language Translation Software Market by Enterprise Size
7.7 Rest of Asia Pacific Language Translation Software Market
7.7.1 Rest of Asia Pacific Language Translation Software Market by Component
7.7.1.1 Rest of Asia Pacific Language Translation Software Market by Solution Type
7.7.2 Rest of Asia Pacific Language Translation Software Market by Vertical
7.7.3 Rest of Asia Pacific Language Translation Software Market by Enterprise Size
Chapter 8. Company Profiles
8.1 Microsoft Corporation
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Segmental and Regional Analysis
8.1.4 Research & Development Expenses
8.1.5 Recent strategies and developments:
8.1.5.1 Product Launches and Product Expansions:
8.1.6 SWOT Analysis
8.2 IBM Corporation
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Regional & Segmental Analysis
8.2.4 Research & Development Expenses
8.2.5 SWOT Analysis
8.3 Google LLC (Alphabet Inc.)
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Research & Development Expense
8.3.5 SWOT Analysis
8.4 Acolad Group
8.4.1 Company Overview
8.4.2 Recent strategies and developments:
8.4.2.1 Acquisition and Mergers:
8.5 AppTek
8.5.1 Company Overview
8.5.2 Recent strategies and developments:
8.5.2.1 Partnerships, Collaborations, and Agreements:
8.6 LanguageLine Solutions (Teleperformance SE)
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Segmental Analysis
8.7 inRiver AB
8.7.1 Company Overview
8.8 Babylon Software Ltd.
8.8.1 Company Overview
8.9 Lingotek, Inc.
8.9.1 Company Overview
8.10. SYSTRAN S.A.
8.10.1 Company Overview
Companies Mentioned
- IBM Corporation
- Google LLC (Alphabet Inc.)
- Acolad Group
- AppTek
- LanguageLine Solutions (Teleperformance SE)
- inRiver AB
- Babylon Software Ltd.
- Lingotek, Inc.
- SYSTRAN S.A.
Methodology
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