The Latin America, Middle East and Africa Language Translation Software Market should witness market growth of 20.5% CAGR during the forecast period (2022-2028).
In recent years, improvements in natural language processing (NLP)and data accessibility have led to the development of more accurate and user-friendly translation software, which has increased its adoption among end users. For instance, themost recent development in Japan isa digital concierge platform that can translate 109 foreign languages for the hotel and tourism industries. Guests and hotel personnel can converse in real-time in their respective native tongues using the system, and the messages are automatically translated into the recipient's language.
This opens up new possibilities and innovation value, improving translation's role and expanding the translation software market. Consumers, customers, and other organizations like language translation software as a teaching tool for improving consistency and quality and for advancing ICT competencies. Additionally, the software is utilized to improve translation quality, effectiveness, and speed.
Mercosur is the fourth-largest trade group in the world. This group comprises Brazil, Venezuela, Bolivia, Argentina, Uruguay, and Paraguay. More than 260 million people inhabit the regionas a whole. The Mercosur trade bloc uses Portuguese and Spanish as the two official languages. International trade contacts are successful owing to Mercosur's negotiating strength. The Mercosur nations have agreements for political and economic cooperation with many different nations across every continent. The Mercosur nations have agreements for political and economic cooperation with many different nations across every continent. In Latin America, Mercosur is attracting more international companies to have their bases in this region. In the coming years, all these factors are promoting the growth of the regional language translation software market.
The Brazil market dominated the LAMEA Language Translation Software Market by Country 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $433 million by 2028. The Argentina market is experiencing a CAGR of 21.1% during (2022-2028). Additionally, The UAE market would showcase a CAGR of 20.2% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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.
In recent years, improvements in natural language processing (NLP)and data accessibility have led to the development of more accurate and user-friendly translation software, which has increased its adoption among end users. For instance, themost recent development in Japan isa digital concierge platform that can translate 109 foreign languages for the hotel and tourism industries. Guests and hotel personnel can converse in real-time in their respective native tongues using the system, and the messages are automatically translated into the recipient's language.
This opens up new possibilities and innovation value, improving translation's role and expanding the translation software market. Consumers, customers, and other organizations like language translation software as a teaching tool for improving consistency and quality and for advancing ICT competencies. Additionally, the software is utilized to improve translation quality, effectiveness, and speed.
Mercosur is the fourth-largest trade group in the world. This group comprises Brazil, Venezuela, Bolivia, Argentina, Uruguay, and Paraguay. More than 260 million people inhabit the regionas a whole. The Mercosur trade bloc uses Portuguese and Spanish as the two official languages. International trade contacts are successful owing to Mercosur's negotiating strength. The Mercosur nations have agreements for political and economic cooperation with many different nations across every continent. The Mercosur nations have agreements for political and economic cooperation with many different nations across every continent. In Latin America, Mercosur is attracting more international companies to have their bases in this region. In the coming years, all these factors are promoting the growth of the regional language translation software market.
The Brazil market dominated the LAMEA Language Translation Software Market by Country 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $433 million by 2028. The Argentina market is experiencing a CAGR of 21.1% during (2022-2028). Additionally, The UAE market would showcase a CAGR of 20.2% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
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 LAMEA Language Translation Software Market, by Component
1.4.2 LAMEA Language Translation Software Market, by Vertical
1.4.3 LAMEA Language Translation Software Market, by Enterprise Size
1.4.4 LAMEA 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. LAMEA Language Translation Software Market by Component
4.1 LAMEA Solution Market by Country
4.2 LAMEA Language Translation Software Market by Solution Type
4.2.1 LAMEA Rule-based Machine Translation Market by Country
4.2.2 LAMEA Statistical Machine Translation Market by Country
4.2.3 LAMEA Hybrid Machine Translation Market by Country
4.3 LAMEA Services Market by Country
Chapter 5. LAMEA Language Translation Software Market by Vertical
5.1 LAMEA IT & Telecom Market by Country
5.2 LAMEA Manufacturing Market by Country
5.3 LAMEA Education Market by Country
5.4 LAMEA Healthcare Market by Country
5.5 LAMEA BFSI Market by Country
5.6 LAMEA Travel & Tourism Market by Country
5.7 LAMEA Other Vertical Market by Country
Chapter 6. LAMEA Language Translation Software Market by Enterprise Size
6.1 LAMEA Large Enterprises Market by Country
6.2 LAMEA SMEs Market by Country
Chapter 7. LAMEA Language Translation Software Market by Country
7.1 Brazil Language Translation Software Market
7.1.1 Brazil Language Translation Software Market by Component
7.1.1.1 Brazil Language Translation Software Market by Solution Type
7.1.2 Brazil Language Translation Software Market by Vertical
7.1.3 Brazil Language Translation Software Market by Enterprise Size
7.2 Argentina Language Translation Software Market
7.2.1 Argentina Language Translation Software Market by Component
7.2.1.1 Argentina Language Translation Software Market by Solution Type
7.2.2 Argentina Language Translation Software Market by Vertical
7.2.3 Argentina Language Translation Software Market by Enterprise Size
7.3 UAE Language Translation Software Market
7.3.1 UAE Language Translation Software Market by Component
7.3.1.1 UAE Language Translation Software Market by Solution Type
7.3.2 UAE Language Translation Software Market by Vertical
7.3.3 UAE Language Translation Software Market by Enterprise Size
7.4 Saudi Arabia Language Translation Software Market
7.4.1 Saudi Arabia Language Translation Software Market by Component
7.4.1.1 Saudi Arabia Language Translation Software Market by Solution Type
7.4.2 Saudi Arabia Language Translation Software Market by Vertical
7.4.3 Saudi Arabia Language Translation Software Market by Enterprise Size
7.5 South Africa Language Translation Software Market
7.5.1 South Africa Language Translation Software Market by Component
7.5.1.1 South Africa Language Translation Software Market by Solution Type
7.5.2 South Africa Language Translation Software Market by Vertical
7.5.3 South Africa Language Translation Software Market by Enterprise Size
7.6 Nigeria Language Translation Software Market
7.6.1 Nigeria Language Translation Software Market by Component
7.6.1.1 Nigeria Language Translation Software Market by Solution Type
7.6.2 Nigeria Language Translation Software Market by Vertical
7.6.3 Nigeria Language Translation Software Market by Enterprise Size
7.7 Rest of LAMEA Language Translation Software Market
7.7.1 Rest of LAMEA Language Translation Software Market by Component
7.7.1.1 Rest of LAMEA Language Translation Software Market by Solution Type
7.7.2 Rest of LAMEA Language Translation Software Market by Vertical
7.7.3 Rest of LAMEA 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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