Published On : 01 Nov 2016
QYResearchReports.com has announced the addition of a new market intelligence report, titled “Global Language Translation Software Market Professional Survey Report 2016,” to its offerings. The report serves as a repository of analysis and information regarding competitive landscape, geographical segmentation, technological developments, and dynamics pertaining to the global language translation software market.
Rapid globalization and intermingling of several cultures is leading to the increasing demand for language translation software. As organizations aim for a global presence, they require language translation software to localize information across all levels of business including website content. This has emerged as one of the key drivers in the global language translation software market. With the increasing number of internet users, tablets and smartphones require translation of information acquired from distinct sources. Moreover, search engine translation optimization is one of the vital areas in online marketing. These trends are leading to greater uptake of this software, thereby fuelling the growth of the market. Furthermore, it is being increasingly used in industrial verticals such as publishing, healthcare, and security.
On the flip side, the slow processing speed of existing language translation software means that it is unable to translate massive data in minimum duration. This is likely to negatively impact the dynamics of the global market. Moreover, translations through automated systems require human assessment and validation, which reduces its adoption in translating legal information, thereby impeding the growth of the market. However, technological advancements are expected to translate text faster and with greater accuracy. Such developments are anticipated to offer immense growth opportunities to the global language translation software market.
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There are various types of language translation software including statistical-based machine translation, rule-based machine translation, and hybrid machine translation. The demand for hybrid machine translation is expected to remain high in the coming years owing to its key attributes such as both statistical-based machine translation and rule-based machine translation to attain high accuracy.
The software is used in various applications across sectors including financial, educational, commercial, and military. The commercial sector is expected to flourish due to the presence of a large number of firms that are implementing language translation software to expand their presence globally. On the basis of geography, the market is categorized into Europe, China, India, North America, Japan, and Southeast Asia. North America and Europe are estimated to experience significant growth owing to increasing penetration of smartphones and tablets and rising awareness regarding language translation technology.
The report profiles the leading players in the market along with their contact information, latest developments, and business strategies. The report projects the expected growth trajectory of each player across each region. Some of the key players in the global language translation software market are SDL, IBM, Google Translate, Asia Online, Cognition Technologies, Softissimo, Moravia, and Language Weaver.