The translation management software market report covers the following areas:
Vendor Insights
The translation management software market is fragmented, and the vendors are deploying growth strategies such as focusing on launching advanced software in the retail, education, and gaming industries to compete in the market. The report analyzes the market's competitive landscape and offers information on several market vendors, including:
- Across Systems GmbH
- Alphabet Inc.
- International Business Machines Corp.
- ICD Translation Inc.
- Lingotek Inc.
- Lionbridge Technologies LLC
- Microsoft Corp.
- Smartling Inc.
- TextUnited GmbH
- Welocalize Inc.
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Geographical Market Analysis
North America will provide maximum growth opportunities in the translation management software market during the forecast period. According to our report, the region will contribute 32% of the global market growth. Market growth in this region will be slower than the growth of the market in other regions. The US is one of the key countries for translation management software in North America. The strong presence and penetration of several large players will drive the translation management software market growth in North America during the forecast period.
Know more about this market's geographical distribution along with the detailed analysis of the top regions. View Our Report Snapshot
Key Segment Analysis
The on-premises segment will have significant market share growth during the forecast period. On-premises solutions are considered to be more secure than cloud-based solutions. This segment is dominated by large enterprises that are not price-sensitive. Such organizations also focus on risk management strategies to safeguard their reputation and existence. These are the main factors that will drive the growth of the on-premises segment during the forecast period.
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Key Market Drivers & Challenges:
One of the key drivers supporting the growth of the translation management software market is the exponential increase in the volume of data. Organizations generate rich, varied, and complex data and content. Thus, proper translation management software is needed to ensure data accuracy and reduce the time consumed. This is expected to fuel the adoption of translation management software during the forecast period.
The translation management software market growth is challenged by threats from open-source translation management software vendors. Many open-source vendors provide a range of translation software tools and applications that have similar functionalities to those provided by on-premises or on-demand translation management software vendors. Thus, the rising number of open-source translation management software vendors is expected to challenge the growth of the global translation management software market during the forecast period.
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Key Highlights
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist translation management software market growth during the next five years
- Estimation of the translation management software market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the translation management software market
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of translation management software market vendors
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Translation Management Software Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 14.81% |
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Market growth 2021-2025 |
USD 1.58 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
13.72 |
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Regional analysis |
North America, Europe, APAC, MEA, and South America |
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Performing market contribution |
North America at 32% |
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Key consumer countries |
US, China, UK, Japan, and Germany |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Across Systems GmbH, Alphabet Inc., International Business Machines Corp., ICD Translation Inc., Lingotek Inc., Lionbridge Technologies LLC, Microsoft Corp., Smartling Inc., TextUnited GmbH, and Welocalize Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
About Us:
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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