Translation Service Market 2023: Market Trends, Emerging Opportunities and Key Vendors

Market Highlights
Globalization has a huge impact on foreign trade with more exports and imports, and it has impacted the enterprises in learning and accepting different country language. Translation is the form of communication which occurs by voice or text or by the use of a software or a machine of corresponding language text.
Key Players
The prominent players in the market of Translation Service are– LanguageLine Solutions (U.S.), Lionbridge (U.S.), TransPerfect (U.S.), LanguageLine (U.S.), SDL (UK), GlobaLexicon (UK), Global Language Solutions, Inc. (U.S.), Ingco International (U.S.) among others. Other vendors include Foreign Translations (U.S.), CLS Communication (Switzerland), Net-Translators (U.S.), Dynamic Language (U.S.), Zaharicom, Inc (U.S.), Cuttingedge Translation Services Pvt. Ltd (India), Babylon Software Ltd (Israel), Gengo (U.S.), Mars Translation Services (China), Straker Translations (U.S.) among others
The prominent players constantly keep innovating and investing in research and development in order to present a cost-effective portfolio. There have been recent mergers and acquisitions among the key players, where the business entities expect to strengthen their reach to their customers.
Translation Service Global Market   - Segmentation
The Translation Service Market can be classified into 3 key segments for the convenience of the report and enhanced understanding;
  • Segmentation by Type: Comprises of technical translation, scientific translation, financial translation, legal translation, judicial translation, juridical translation, literary translation and others
  • Segmentation by End User: Comprises of commercial, public sector and others
  • Segmentation by Region: Comprises of Geographical regions - North America, Europe, Asia Pacific and Rest of the World.
Translation Service Global Market   - Competitive Analysis
The market of translation service appears to be highly competitive. To maintain their market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D and, most of all, in acquiring other firms.
Regional Analysis
On the basis of geography, the market is studied for North America, Europe, Asia Pacific, and rest of the world. Among all the regions, the market is dominated by North America due to the higher adoption rate of technology. The United States contributes a main part of the market growth, particularly due to a recent change in the government and its strictness. The region grasps more than 60% of the prominent players providing services in this market. Although the technology is still developing, the companies including various start-ups have begun conducting partnership service providers.
On the other hand, Asia Pacific has shown a decent growth considering translation service. India is the largest contributor to this market. Asia Pacific is expected to be the fastest growing region due to increasing initiatives by government
Target Audience
  • Translation Service Market services providers
  • Software developers
  • Government agencies
  • Electronic device manufacturers
  • Value-added resellers
  • Security agencies
  • Research Firms
TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Porter’s Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Threat Of Substitutes
4.1.4 Segment Rivalry
4.2 Value Chain/Supply Chain Of Global Translation Services Market
5 Deployment Overview Of Global Translation Services Market
5.1 Introduction
5.2 Growth Drivers
5.3 Impact Analysis
5.4 Market Challenges
6 Market Trends
6.1 Introduction
6.2 Growth Trends
6.3 Impact Analysis
Continued…
About Us:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Media Contact:
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