The North America Language Translation Software Market should witness market growth of 16.4% CAGR during the forecast period (2022-2028).
Several translation solutions have been created to aid novice and seasoned translators in creating the highest quality translations. As a result of translation software’s usefulness and dependability, more translation professionals &learners are using it as it provides reliable and expert translation services. They are also being widely incorporated into translation programs at numerous universities, institutes, and training facilities.
End-user usage is accelerating due to the growing digitization and rising need for translation software. Different types of end customers, including private individuals, commercial enterprises, and governmental entities, can utilize language translation software. In addition, language translation software is used by individuals for a wide range of private objectives, such as travel,language learning, and intercultural communication. Two well-known consumer-focused language translation tools are Google Translate and Microsoft Translator.
The market is expected to grow rapidly in North America due to the considerable interest in translation technology in this region. Furthermore, the increasing utilization of language translationtechnology in portable devices such as tablets and smartphones may increase the need for regional translation software. The increasing desire to perform information searches online will likely boost the demand for translation software throughout the ensuing years, contributing to the expansion of the market. Furthermore, due to technological advancements in the smartphone sector, language translation software will probably see significant expansion over the next few years.
The US market dominated the North America Language Translation Software Market by Country 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $7,024.6 million by 2028. The Canada market is poised to grow at a CAGR of 19.1% during (2022-2028). Additionally, The Mexico market should witness a CAGR of 18% 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 U.S., Mexico, Canada, and Rest of North America.
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.
Several translation solutions have been created to aid novice and seasoned translators in creating the highest quality translations. As a result of translation software’s usefulness and dependability, more translation professionals &learners are using it as it provides reliable and expert translation services. They are also being widely incorporated into translation programs at numerous universities, institutes, and training facilities.
End-user usage is accelerating due to the growing digitization and rising need for translation software. Different types of end customers, including private individuals, commercial enterprises, and governmental entities, can utilize language translation software. In addition, language translation software is used by individuals for a wide range of private objectives, such as travel,language learning, and intercultural communication. Two well-known consumer-focused language translation tools are Google Translate and Microsoft Translator.
The market is expected to grow rapidly in North America due to the considerable interest in translation technology in this region. Furthermore, the increasing utilization of language translationtechnology in portable devices such as tablets and smartphones may increase the need for regional translation software. The increasing desire to perform information searches online will likely boost the demand for translation software throughout the ensuing years, contributing to the expansion of the market. Furthermore, due to technological advancements in the smartphone sector, language translation software will probably see significant expansion over the next few years.
The US market dominated the North America Language Translation Software Market by Country 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $7,024.6 million by 2028. The Canada market is poised to grow at a CAGR of 19.1% during (2022-2028). Additionally, The Mexico market should witness a CAGR of 18% 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 U.S., Mexico, Canada, and Rest of North America.
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
- US
- Canada
- Mexico
- Rest of North America
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 North America Language Translation Software Market, by Component
1.4.2 North America Language Translation Software Market, by Vertical
1.4.3 North America Language Translation Software Market, by Enterprise Size
1.4.4 North America 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. North America Language Translation Software Market by Component
4.1 North America Solution Market by Country
4.2 North America Language Translation Software Market by Solution Type
4.2.1 North America Rule-based Machine Translation Market by Country
4.2.2 North America Statistical Machine Translation Market by Country
4.2.3 North America Hybrid Machine Translation Market by Country
4.3 North America Services Market by Country
Chapter 5. North America Language Translation Software Market by Vertical
5.1 North America IT & Telecom Market by Country
5.2 North America Manufacturing Market by Country
5.3 North America Education Market by Country
5.4 North America Healthcare Market by Country
5.5 North America BFSI Market by Country
5.6 North America Travel & Tourism Market by Country
5.7 North America Other Vertical Market by Country
Chapter 6. North America Language Translation Software Market by Enterprise Size
6.1 North America Large Enterprises Market by Country
6.2 North America SMEs Market by Country
Chapter 7. North America Language Translation Software Market by Country
7.1 US Language Translation Software Market
7.1.1 US Language Translation Software Market by Component
7.1.1.1 US Language Translation Software Market by Solution Type
7.1.2 US Language Translation Software Market by Vertical
7.1.3 US Language Translation Software Market by Enterprise Size
7.2 Canada Language Translation Software Market
7.2.1 Canada Language Translation Software Market by Component
7.2.1.1 Canada Language Translation Software Market by Solution Type
7.2.2 Canada Language Translation Software Market by Vertical
7.2.3 Canada Language Translation Software Market by Enterprise Size
7.3 Mexico Language Translation Software Market
7.3.1 Mexico Language Translation Software Market by Component
7.3.1.1 Mexico Language Translation Software Market by Solution Type
7.3.2 Mexico Language Translation Software Market by Vertical
7.3.3 Mexico Language Translation Software Market by Enterprise Size
7.4 Rest of North America Language Translation Software Market
7.4.1 Rest of North America Language Translation Software Market by Component
7.4.1.1 Rest of North America Language Translation Software Market by Solution Type
7.4.2 Rest of North America Language Translation Software Market by Vertical
7.4.3 Rest of North America 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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