Global Translation Services Market
Global Translation Service Market valued approximately USD XX billion in 2017 is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2018-2025.
The Translation Service Market is continuously growing in the global scenario at a significant pace. The translation is communication of meaning from one language to other languages. The purpose of translation is to convey the original quality, toner, essence, and intent of the message. Modern-day translation services rely on new technologies which use software to simplify the translation of languages. Organizations around the world use translations for business purposes, missions, mandates, user reviews, reports and many more. Rapid globalization, technological enhancements, increasing geographical outreach and growth in foreign client base are the substantial driving factors of the market during the forecast period. Moreover, the growing adoption of artificial intelligence is the major factor that likely creating a lucrative opportunity in the near future. In addition, translation services make communication effective, highly accurate and meet global regulation & standards which also impelling the demand for translation services across the globe. However, the inevitable loss of intended meaning and machines cannot be able to translate the context is one of the major factors that limiting the market growth of Translation Service during the forecast period.
The regional analysis of Global Translation Service Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share due to higher adoption of translation services in security & government agencies and rising technological advancements across the region. Europe is estimated to grow at a stable growth rate in the global Translation Service market over the upcoming years. Asia-Pacific is anticipated to exhibit higher growth rate / CAGR over the forecast period 2018-2025 owing to rising government initiatives in the region.
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The major market player included in this report are:
• Language Line Solutions
• Global Language Solutions Inc.
• Ingco International
• Straker Translations
• Mars Translation Services
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Operation Type:
- Technical Translation
- Machine Translation
- Written Translation Services
- Interpretation Service
- IT & Telecommunication
- North America
- Asia Pacific
- Latin America
- Rest of the World
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Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
Target Audience of the Global Translation Service Market in Market Study:
- Key Consulting Companies & Advisors
- Large, medium-sized, and small enterprises
- Venture capitalists
- Value-Added Resellers VARs
- Third-party knowledge providers
- Investment bankers
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