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Translation Service Market - Industry Dynamics, Market Size, And Opportunity Forecast To 2030

Global Translation Service Market: By Service (Medical, Financial, Judicial, Technical Translation, Administrative Translation, Website Translation, Others); By Technology (Machine Translation (MT), Computer-Assisted Translation (CAT), Human); By Deployment (Cloud, On-Premises); By Industry (Travel & Tourism, Automotive, Banking & Finance, Healthcare, Legal, Others)—Industry Dynamics, Market Size, and Opportunity Forecast for 2022–2030

  • Published On: 13-Oct-2022  |  Format: pdfpowerpointexcel  |  Report ID: AA1022309
    Delivery: 2 to 4 Hours

REPORT SCOPE

Report AttributeDetails
Market Size Value in 2021US$ 47,696.1 Million
Expected Revenue in 2030US$ 81,647.4 Million
Historic Data2017-2020
Base Year2021
Forecast Period2022-2030
UnitValue (USD Mn)
CAGR6.7%
Segments coveredBy Service, By Technology, By Deployment, By Industry, By Region
Key Companies                                                       BIG Language Solutions, Certified Languages International, Global Talk, Keyword Studios, LanguageLine Solutions, Languagewire, Lionbridge, LOGOS GROUP, RWS Holdings, Semantix, Text Master, Translate Plus, The Language Services Bureau, TransPerfect, Welocalize, Other Prominent Players
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FREQUENTLY ASKED QUESTIONS

Global Translation Service Market is expected to grow at a CAGR of 6.7% from 2022 to 2030.

Due to the use of Computer Aided Translation (CAT) tools and AI in translation services.

The Translation Service Market is estimated to grow with an opportunity of US$ 32,997.5 Mn during the forecast period.

Rising need for translation services in websites and social media platforms for better business reach and growing need for professional translators and interpreters in medical tourism and healthcare sector.

Legal segment has the highest CAGR of 8.1% in the Translation Service Market.

The projected growth of language e-learning platforms and increasing penetration of internet services.

The main services in the market are Medical , Financial, Judicial, Technical, Translation, Administrative, Translation  Website, Translation, and Others.

High chances of misinterpretation due to complicated vocabulary and cultural differences are retraining the market.

Service, Technology, Deployment, and Industry are the different segments in the Global Translation Service Market.

The top players are BIG Language Solutions, Certified Languages International, Global Talk, Keyword Studios, Language Line Solutions.

Europe dominates the Global Translation Service Market by 40.0% in 2021.

The covid outbreak impacted the market in a negativing during the starting stage but it got better after the beginning of online mode of education and work.