Translation Management Software Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

Translation can be defined as an act of interpreting the meaning of a text, and the production of an equivalent text. The text which is supposed to be translated is known as the source text and the language in which it is preferred to be translated is known as the target language. With the growing scope of online mode of communication and education, the demands for translation software is growing and is expected to grow significantly over the forecast period.

MARKET SCOPE

The "Global Translation Management Software Market Analysis to 2031" is a specialized and in-depth study of the food and beverages industry with a special focus on the global market trend analysis. The report aims to provide an overview of the translation management software market with detailed market segmentation by deployment, enterprise size, application, and geography. The report provides key statistics on the market status of the leading translation management software market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   Based on deployment, the global translation management software market is segmented into cloud, on-premise
  
•   On the basis of enterprise size, the market is segmented into SMES, large enterprises
  
•   Based on application, the market is bifurcated into PC terminal, mobile terminal
  

MARKET DYNAMICS

Drivers:

•   Exponential increase in the volume of data
  
•   The adoption of cloud-based translation management software is increasing due to the rising use of the Internet in all end-user segments.
  

Restraints

•   Threat from open-source translation management software vendors
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The translation management software market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the translation management software market in these regions.

IMPACT OF COVID-19 ON TRANSLATION MANAGEMENT SOFTWARE MARKET

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.

MARKET PLAYERS

The report covers key developments in the translation management software market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from translation management software market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the translation management software market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   Crowdin
  
•   Dynport GmbH (Phrase)
  
•   LingoHub GmbH
  
•   Localize Corporation
  
•   Lokalise, Inc.
  
•   Memsource a.s.
  
•   SDL plc
  
•   Smartcat Platform Inc.
  
•   SMARTLING
  
•   Transifex
  
  

The Insight Partner’s dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Translation Management Software Report Scope