Global Language Translation Software Market - Forecast 2027 | MRFR
Market Overview:
The Global Language Translation Software Market is predicted to increase the market share at approximately USD 25 Billion for the forecast period of 2023. Further, the global market has aimed to meet 16% of CAGR for the forecast period of 2017 to 2023. Geographically, the North American region is generating the highest market share in Global Language Translation Software Market due to the migration of people from different countries and the presence of major players in this region. Moreover, countries like US and Canada are generating the highest market revenue in this region. Along with that, the Asia‐Pacific region is predicted to generate the highest CAGR for the forecast period of 2023. This region is enhancing the global growth for the Language Translation Software Market due to the huge investments of the investors in the tools and technology for the betterment of productivity in their business. Also, this region is offering BPO services to various non-English spoken regions, which is increasing the demand for global products in this region.
Frequently Asked Questions (FAQ) :
The language translation software market is projected to register 16% CAGR.
The language translation software market is anticipated to earn USD 25 Bn by 2023.
Bigword Group Ltd. (England), Languageline Solutions (U.S.), Lionbridge Technologies, Inc. (U.S.), Global Linguist Solutions (U.S.), Google Inc. (U.S.), Babylon Corporation (Israel), IBM Corporation (U.S.), Systran (South Korea), Microsoft Inc. (U.S.), and Cloudwords Inc. (U.S.) are some of the important market players.
The solution-based segments of the language translation software market are rule-based machine translation, hybrid machine translation, and statistical-based machine translation.
Increasing international trade affairs and rising globalization are expected to drive market’s growth rate.
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