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Translation Service Market 2019 Global Industry Analysis, Sales Revenue, Emerging Trends, Development Status, Competitive Landscape, Future Plans and Regional Forecast 2023

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Translation Service Market 2019 Global Industry Analysis, Sales Revenue, Emerging Trends, Development Status, Competitive Landscape, Future Plans and Regional Forecast 2023

August 27
07:51 2019
Translation Service Market 2019 Global Industry Analysis, Sales Revenue, Emerging Trends, Development Status, Competitive Landscape, Future Plans and Regional Forecast 2023

Market Research Future
Market Research Future published a research report on “Translation Service Market Research Report – Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Market synopsis

In a global world, people are doing business with people in different countries. Therefore, the translation service market is growing because nobody wants language barriers. Market Research Future (MRFR) has published a research report about the global Translation Service Market that foresees an increase for this market at 11% CAGR between 2017 and 2022. By value, the market has been figured to be worth the US $ 57 bn by the end of the forecast period.

The greatest market driving factors for the global translation service market growth include huge technological advancement and arrival of machines as well as software that can translate foreign languages quickly. Other factors that can contribute to the market growth include growing international businesses, increasing foreign trade due to rapid imports-exports, growing client base, and growing need for translation. Demand for translation services is also growing due to growing terrorism as governments need to translate the strategies and documents related to cases under investigation.

Get Free Sample Copy of Report @ https://www.marketresearchfuture.com/sample_request/1400

Key Players

The prominent players in the market of Translation Service are- LanguageLine Solutions (U.S.), Lionbridge (U.S.), TransPerfect (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

Segmentation

The global translation service market segmentation has segmented the market into application, component, operation type, service type, and region. The application-based segmentation can segment this market into automotive, commercial, government, healthcare, information technology (IT) & Telecommunication, and others. In the context of component, this market has been segmented into hardware and software.

Regarding operation type, the market has been segmented into machine translation and technical translation. By service type, the market has been segmented into interpretation service, written translation services, and others.

Regional analysis

Europe is a technologically advanced region. In this region, the market can be seen expanding due to the growing application of analytics and increasing deployment of advanced translation service features. Other market driving factors are the same as in North America. The cream of European market comprises France, Germany, and the UK. Russia can also be an important market as there are laws about giving importance to language. Russian government translates messages from other countries addressed to them and replies to all messages in Russian language only.

During the forecast period, the Asia Pacific region can be the fastest growing market due to government initiatives. The most extensive country-specific markets in this region are China, India, and Japan, followed by the remaining countries of the Asia Pacific region. Australia and New Zealand also have the potential to emerge as important country-specific markets in the near future.

The RoW segment covers the countries of Middle East & Africa (MEA) region and many Latin countries. In Latin countries, the market is decent but not as huge as most people speak Spanish in these countries. The most powerful economies in this region that can become significant markets in the future are Argentina and Brazil. In the MEA region, market growth is slow due to limited availability of technology and few people knowing any language other than their mother tongue.

Get complete Report @ https://www.marketresearchfuture.com/reports/translation-service-market-1400

Intended Audience

  • Translation Service Market services providers
  • Software developers
  • Government agencies
  • Electronic device manufacturers
  • Value-added resellers
  • Security agencies
  • Research Firms

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.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Media Contact
Company Name: Market Research Future
Contact Person: Abhishek Sawant
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Website: https://www.marketresearchfuture.com/reports/translation-service-market-1400