Computer Assisted Translation Software Market: Introduction
- Computer assisted translation software, also known as CAT tool or software, is used by linguists and translators to translate a text into the language they require. Additionally, the translated text is saved into a database, which is known as Translation Memory (TM). Computer assisted translation software enables higher level of content translation in less time, as it breaks the content into small text segments.
- The COVID-19 outbreak has been a major challenge for the post-pandemic business environment. Governments of different countries across the world have imposed lockdowns to curb the spread of the disease. Hence, organizations or enterprises are using computer assisted translation software to enhance their productivity while maintaining high-quality translation services. Computer assisted translation software was extensively used by people due to remote working across both developed and developing countries during the pandemic outbreak. The COVID-19 outbreak increased the demand for computer assisted translation software, as it helped translators to enhance their skills and maintain consistency and authenticity within the data while working from home. This, in turn, is expected to boost the global computer assisted translation software market.
Global Computer Assisted Translation Software Market: Market Dynamics
- The growing number of translation software provided by companies through the internet, and the increasing need for translation of web content and websites across organizations is expected to propel the computer assisted translation software market
- Growing focus of translation management systems (TMS) across small & medium and large enterprises that help to manage, automate, and translate content in efficient ways by using computer assisted translation software is estimated to accelerate the growth of the computer assisted translation software market during the forecast period.
- The growing popularity of audio and video translations is expected to trigger the growth of the computer assisted translation software market during the forecast period.
- Rising demand for cloud-based computer assisted translation software, is expected to trigger the growth of the market.
- The easy availability and access to cost-free translation software may restrain the growth of the computer assisted translation software market.
North America to Account for Major Share of the Global Computer Assisted Translation Software Market
- In terms of region, the global computer assisted translation software market can be divided into North America, South America, Europe, Asia Pacific, and Middle East & Africa
- North America is expected to lead the global computer assisted translation software market during the forecast period, due to the presence of well-established players that offer computer assisted translation software in the U.S. and Canada, for seamless communication with team members, stakeholders, and clients located overseas. This, in turn, is expected to boost the computer assisted translation software market in North America.
- The computer assisted translation software market in Europe is anticipated to expand due to growth of cloud-based computer assisted translation software, which can help businesses in countries such as Germany, France, and Italy, to communicate in other languages besides their local language in the region, which is projected to boost the growth of the computer assisted translation software market in Europe.
- Asia Pacific is expected to hold significant share of the global computer assisted translation software market in the near future due to business globalization, enabling enterprises to target a wider range of audiences and markets so as to achieve their business goals. This is projected to propel the computer assisted translation software market in Asia Pacific.
Global Computer Assisted Translation Software Market: Competitive Landscape
Key Players Operating in the Global Computer Assisted Translation Software Market
Companies operating in the global computer assisted translation software market are increasingly investing in research and development activities to develop new and innovative techniques to provide computer assisted translation software. The global computer assisted translation software market is highly fragmented, with the presence of numerous providers in developed and developing regions. Key players operating in the global computer assisted translation software market include:
- Andovar Pte Ltd.
- lingohub GmbH
- Lokalise, Inc.
- MotionPoint Corporation.
- Pairaphrase LLC
- PoliLingua UK Ltd
- SDL Limited
- Smartcat Platform Inc.
- ZELENKA Czech Republic s.r.o
Global Computer Assisted Translation Software Market: Research Scope
Global Computer Assisted Translation Software Market Segmentation, by Deployment
Global Computer Assisted Translation Software Market Segmentation, by Enterprise Size
- Small & Medium Enterprise
- Large Enterprise
Global Computer Assisted Translation Software Market Segmentation, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
- CAT tool
- Software Translation Tool
- Computer Assisted Translation Software
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.