North America Language Translation Software Market Size, Share & Industry Trends Analysis Report By Component, By Vertical (IT & Telecom, Manufacturing, Education, Healthcare, BFSI, Travel & Tourism), By Enterprise Size, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The North America Language Translation Software Market would 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 translation technology 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 would 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.
Free Valuable Insights: The Global Language Translation Software Market is Estimated to reach $26 Billion by 2028, at a CAGR of 17%
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
Market Segments Covered in the Report:
- Rule-based Machine Translation
- Statistical Machine Translation
- Hybrid Machine Translation
- IT & Telecom
- Travel & Tourism
By Enterprise Size
- Large Enterprises
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- IBM Corporation
- Google LLC (Alphabet Inc.)
- Acolad Group
- LanguageLine Solutions (Teleperformance SE)
- inRiver AB
- Babylon Software Ltd.
- Lingotek, Inc.
- SYSTRAN S.A.
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