What is Online Translation Market?
Online translation refers to machine translation which converts one language into another. With over 6500 languages across the world, it’s humanly impossible for an individual to have a sound understanding of many of them. Online translation solutions coupled with growing digitalization and increasing internet penetration help reducing the problems caused by a language barrier. Considering the rapid growth in the international tourism industry and wide adoption in the education sector, online translation services will continue to grow.
The market study is being classified by Type (Android, Ios and Windows), by Application (Automotive, Military & Defense, Electronics, IT, Healthcare and Others) and major geographies with country level break-up.
IBM (United States), Google Translate (United States), Language Weaver (United States), Proz / KudoZ (United States), Lionbridge (United States), Asia Online Pte Ltd. (Singapore), MultiCorpora (United States), Lighthouse IP Group. (The Netherlands), Lingotek (United States), SDL (United Kingdom), Systran (Gangnam), Alchemy (India) and Kilgray Translation Technologies (MemoQ) (Hungary) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are MT@EC and Symbio Software.
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Online Translation market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Online Translation market by Type, Application and Region.
On the basis of geography, the market of Online Translation has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Russia, Germany, France, Italy, United Kingdom, Netherlands, Spain, France, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Need For Cost-Effective and Quick Translation Solution
- Rising International Tourism and Multilingual World’s Culture
Market Trend
- Adoption of Online Translation and Instant Web Publishing Requirement
- Development of Translation Based Apps
- Growing Inclination Towards the expansion of Business in Different Regions
- E-Learning Courses in Different Language
Restraints
- Over Dependability on Internet Connection
- Lack of Awareness About Online Translation in Emerging Countries
Opportunities
- Digital Transformation and AI-Driven Translation Technology
- Emergence of Video Translation Techniques
Challenges
- Lack of Quality Limits Other Uses Apart from Colloquial
- Network Issues and System Failure
Market Leaders and some development strategies
In July 2018, SDL Plc. is a multinational software and professional service company, a global leader in content management and language translation software and services acquired business and assets of Donnelley Language Solution.
Technology is changing practically in all aspects of the world and the translation industry is no expectation. According to the report in 2022, Translation Company will look differently as game-changing technologies are in the process of creating a paradigm shift. These days’ digital technologies have linguist unprecedented freedom and language translation features.
Analyst Comment
Adolfo Hernandez, CEO of SDL, commented: "The acquisition of DLS is aligned with SDL's strategy, focusing on 'premium' industries and regulated content. The combination of our businesses will strengthen SDL's market position in financial services and life sciences, which on a combined basis, account for approximately 30 percent of the language services market. Together, we will be able to develop more differentiated industry-focused solutions by leveraging DLS' specialist services expertise and SDL's technologies. In addition, DLS brings us further skills and industry presence in Asian markets. Over time, DLS and SDL will seek to increase cross-selling across our customer bases and both businesses will be able to benefit from SDL's investments in Machine Translation, in-house linguists, 'Helix': our business process automation platform and administrative efficiencies, to drive margins towards our stated targets. We are delighted to welcome our new employees and customers to SDL."
Key Target Audience
Software Provider, Service Provider, Association and Industrial Bodies, Professional Service Provider, Government & Research Organisation, IT Companies, Cloud Service Providers and Investors & Venture Capitalist