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Cloud Translation Services Market

Cloud Translation Services Market By Type (Written Translation Services, Interpretation Services) By Application (Legal, Medical, Tourism & Travel, Financial & Banking) – Growth, Future Prospects, and Competitive Analysis, 2016 – 2028
Report Book

Published Date: Aug 2022
Category: Technology & Media
Report ID: 60616
Report Format: PDF
No of Pages: 190

Rating: Credence Reports

Market Introduction of Cloud Translation Services Market

Language Service Providers (LSPs) are businesses that provide different service levels and have been providing cloud translation services for a long time. Translation, Translation and Interpretation, dubbing, language training, language evaluation, language technologies, and more are all examples of cloud translation services. Translation and interpretation services fall under cloud translation services and are described as facilitating spoken and signed communication between users of various languages. A method of communicating one form of language into another is through translation. The range of translation services is expanding along with the customer base to meet customer demands depending on preferred languages.

cloud-translation-services-market

What is the Market Size of the Cloud Translation Services Market in terms of value?

The market for cloud translation services is anticipated to grow significantly over the next several years, with a CAGR of XX%. The market for cloud translation services was estimated at USD XX million in 2021 and was expected to reach USD XX million by 2028. The market for cloud translation services is expected to grow rapidly over the next several years, creating revenue opportunities worth USD XX million for the major companies in the sector between 2022 and 2028.  

Which is the key Type segment in the Cloud Translation Services Market?

The Written Translation Services segment registered a revenue share of over 55.0% of the total Cloud Translation Services Market in 2021. Facilitating communication between speakers of various languages is one of the main functions of cloud translation services. These services cover both spoken and signed communication. They adhere to the International Standards Organization’s (ISO) definition of translation, which stipulates that a spoken or signed message is translated into another language while maintaining the content’s original meaning.

The range of translation services has been expanded to serve consumers better, regardless of language preferences. According to historical data, many businesses use translation services to make their domestic and foreign clients more comfortable. Translational services typically require an integrated cloud computing platform and big data analytics to ensure that data can be accessed from any location. This also leads to improved storage capacity and better efficiency.

Interesting Facts about Cloud Translation Services Market Industry

  • The top countries in the Cloud Translation Services Market are the US, Canada, China, Germany, Russia, and France.
  • High operational costs as compared to its counterparts are projected to hinder the growth of the Cloud Translation Services Market over the forecast period. 
  • North America region had a major share in volume and value in the global Cloud Translation Services Market in 2021 and is projected to continue its dominance over the forecast period.

Who are the Top players/companies in the Cloud Translation Services Market in terms of value?

The value key players in the global Cloud Translation Services Market include TransPerfect, Mission Essential Personnel, Llc., Proz, Lionbridge, LanguageLine, SDL, RWS, Welocalize, Yamagata Corporation, Semantix, Logos Group, Lingotek, Alchemy, Thebigword Group, Stars Group. These major companies are focusing on technology advancements and new product developments to improve their production in the cloud translation services market and capture a competitive market share globally. Additionally, several regional and national firms are investing significantly to diversify their product offerings and boost sales. For instance, For example, AWS (Amazon.com Inc.) added formality customization to its Amazon Translate neural machine translation service in February 2022. Using this option, customers can choose the formality level in their translation output for six distinct languages, including Italian, Hindi, Spanish, French, German, and Japanese..

Who are the Top 10 Countries in the Cloud Translation Services Market?

In the global Cloud Translation Services Market, the major countries are China, the U.S., India, Mexico, Canada, the U.K., Germany, France, Italy, and Japan. The United States is the major Cloud Translation Services Market, with a major volume share in the global market in 2021. The need for effective cloud translation services is anticipated to grow as the region’s population changes and becomes more varied. APAC Will increase as a result of the increase in stakeholder coalitions. For instance, the Association of Translation Companies (ATC) and the Indian Confederation of Interpreting, Translation & Localization Businesses (CITLoB) announced a collaboration in April 2022 to support businesses in the language service sector in establishing new relationships and entering the market. The alliance will aid the growth of the Indian participants in the changing market. Expanding regional and international organizations’ aid will accelerate the entry of new firms into the market.

Which is the key Application used in the Cloud Translation Services Market?

The Medical category dominated the Cloud Translation Services Market in 2021. The increased need for online information search may increase the demand for language translation software and services. Over the next several years, language translation software and services will likely experience significant growth due to technological improvements and innovations across the smartphone industry. The widespread adoption of language translation software & services technology could result in the market seeing the birth of several all-encompassing solutions. These solutions combine the benefits of statistical-based machine translation with the characteristics of rule-based machine translation to offer a comprehensive approach to language translation, potentially increasing market demand. The demand for websites and web content translation has multiplied as more businesses advertise their services online. To better serve their clients and meet their demands, businesses worldwide are looking for translation services. Although people also use this kind of service, the percentage is relatively small.

What are the Major Driving Factors for Cloud Translation Services Market?

It is also anticipated that the market for cloud translation services will expand more quickly due to current trends in global marketing. With the help of these services, businesses may now have more affordable access to expanding online audiences worldwide. The market is anticipated to expand as the proportion of foreigners in these audiences rises. The shift toward content marketing and the rise in internet users has created new opportunities for the language sector. PPC advertising and social media marketing targeting international audiences are growing at astounding rates.

What are the Major Restraints for Cloud Translation Services Market?

The high operational expenses of Cloud Translation Services compared to its competitors are the main limitation on the market, which is anticipated to impede market expansion. The cost of cloud translation services and the significant money required to buy the necessary equipment are the other major factors impeding the market’s expansion.

Which Region Dominated the World Cloud Translation Services Market?

In 2021, North America dominated the global Cloud Translation Services Market. Due to the region’s growing diversity, the market for cloud translation services in North America is anticipated to experience significant expansion. The need for effective cloud translation services is anticipated to grow as the region’s population changes and becomes more varied. Qualified translators and interpreters are essential in meeting the needs of this population changing needs.

These days, multicultural marketing has taken on significant importance, and it is anticipated that this will increase the demand for cloud translation services. Multiple enterprises that previously exclusively relied on a single language now prioritize marketing tactics for varied groups as a result of the changing demographics of the area. More than 350 different languages are spoken in the US, according to the United States Census Bureau. As a result of increased immigration, the Asian population is also growing. The market for cloud translation services is growing to accommodate new immigration patterns serving these groups. According to the most recent statistics, around 300 hours of video content are uploaded to YouTube every minute, and viewers watch approximately 5 billion videos daily. Additionally, almost 70% of YouTube users are non-English speakers located outside the United States. The need for video translations and localization is unquestionably rising due to this trend.

The organizations can better comprehend the rapidly expanding need to offer multilingual consumers much more effective communication through professional cloud translation services because they better understand the current linguistic trends in their region and how they continue to shape the market and the nation.

Segmentation of Global Cloud Translation Services Market-

Global Cloud Translation Services Market – By Type

  • Written Translation Services
  • Interpretation Services

Global Cloud Translation Services Market – By Application

  • Legal
  • Medical
  • Tourism & Travel
  • Financial & Banking

Global Cloud Translation Services Market – By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • South-east Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East and Africa

1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.3.4. Approach Adopted
1.3.4.1. Top-Down Approach
1.3.4.2. Bottom-Up Approach
1.3.5. Assumptions
1.4. Market Segmentation

2. Executive Summary
2.1. Market Snapshot: Global Cloud Translation Services Market

3. Market Dynamics & Factors Analysis
3.1. Introduction
3.1.1. Global Cloud Translation Services Market Value, 2016-2028, (US$ Mn)
3.2. Market Dynamics
3.2.1. Key Growth Trends
3.2.2. Major Industry Challenges
3.2.3. Key Growth Pockets
3.3. Attractive Investment Proposition,2021
3.3.1. Type
3.3.2. Application
3.3.3. Geography
3.4. Porter’s Five Forces Analysis
3.4.1. Threat of New Entrants
3.4.2. Bargaining Power of Buyers/Consumers
3.4.3. Bargaining Power of Suppliers
3.4.4. Threat of Substitute Types
3.4.5. Intensity of Competitive Rivalry
3.5. Value Chain Analysis

4. Market Positioning of Key Players, 2021
4.1. Company market share of key players, 2021
4.2. Competitive Benchmarking
4.3. Geographical Presence Analysis
4.4. Major Strategies Adopted by Key Players
4.4.1. Key Strategies Analysis
4.4.2. Mergers and Acquisitions
4.4.3. Partnerships
4.4.4. Product Launch
4.4.5. Geographical Expansion
4.4.6. Others

5. COVID 19 Impact Analysis
5.1. Global Cloud Translation Services Market Pre Vs Post COVID 19, 2019 – 2028
5.2. Impact on Import & Export
5.3. Impact on Demand & Supply

6. North America
6.1. North America Cloud Translation Services Market, by Country, 2016-2028(US$ Mn)
6.1.1. U.S.
6.1.2. Canada
6.1.3. Mexico
6.2. North America Cloud Translation Services Market, by Type, 2016-2028(US$ Mn)
6.2.1. Overview
6.2.2. Written Translation Services
6.2.3. Interpretation Services
6.3. North America Cloud Translation Services Market, by Application , 2016-2028(US$ Mn)
6.3.1. Overview
6.3.2. Legal
6.3.3. Medical
6.3.4. Tourism & Travel
6.3.5. Financial & Banking

7. Europe
7.1. Europe Cloud Translation Services Market, by Country, 2016-2028(US$ Mn)
7.1.1. UK
7.1.2. France
7.1.3. Germany
7.1.4. Italy
7.1.5. Russia
7.1.6. Ukraine
7.1.7. Spain
7.1.8. Belgium
7.1.9. Netherland
7.1.10. Austria
7.1.11. Sweden
7.1.12. Poland
7.1.13. Denmark
7.1.14. Switzerland
7.1.15. Rest of Europe
7.2. Europe Cloud Translation Services Market, by Type, 2016-2028(US$ Mn)
7.2.1. Overview
7.2.2. Written Translation Services
7.2.3. Interpretation Services
7.3. Europe Cloud Translation Services Market, by Application , 2016-2028(US$ Mn)
7.3.1. Overview
7.3.2. Legal
7.3.3. Medical
7.3.4. Tourism & Travel
7.3.5. Financial & Banking

8. Asia Pacific
8.1. Asia Pacific Cloud Translation Services Market, by Country, 2016-2028(US$ Mn)
8.1.1. China
8.1.2. Japan
8.1.3. South Korea
8.1.4. India
8.1.5. Australia
8.1.6. New Zealand
8.1.7. Taiwan
8.1.8. Indonesia
8.1.9. Malaysia
8.1.10. Philippine
8.1.11. Rest of Asia Pacific
8.2. Asia Pacific Cloud Translation Services Market, by Type, 2016-2028(US$ Mn)
8.2.1. Overview
8.2.2. Written Translation Services
8.2.3. Interpretation Services
8.3. Asia Pacific Cloud Translation Services Market, by Application , 2016-2028(US$ Mn)
8.3.1. Overview
8.3.2. Legal
8.3.3. Medical
8.3.4. Tourism & Travel
8.3.5. Financial & Banking

9. Latin America
9.1. Latin America Cloud Translation Services Market, by Country, 2016-2028(US$ Mn)
9.1.1. Brazil
9.1.2. Argentina
9.1.3. Peru
9.1.4. Chile
9.1.5. Colombia
9.1.6. Rest of Latin America
9.2. Latin America Cloud Translation Services Market, by Type, 2016-2028(US$ Mn)
9.2.1. Overview
9.2.2. Written Translation Services
9.2.3. Interpretation Services
9.3. Latin America Cloud Translation Services Market, by Application , 2016-2028(US$ Mn)
9.3.1. Overview
9.3.2. Legal
9.3.3. Medical
9.3.4. Tourism & Travel
9.3.5. Financial & Banking

10. Middle East
10.1. Middle East Cloud Translation Services Market, by Country, 2016-2028(US$ Mn)
10.1.1. UAE
10.1.2. KSA
10.1.3. Israel
10.1.4. Turkey
10.1.5. Iran
10.1.6. Rest of Middle East
10.2. Middle East Cloud Translation Services Market, by Type, 2016-2028(US$ Mn)
10.2.1. Overview
10.2.2. Written Translation Services
10.2.3. Interpretation Services
10.3. Middle East Cloud Translation Services Market, by Application , 2016-2028(US$ Mn)
10.3.1. Overview
10.3.2. Legal
10.3.3. Medical
10.3.4. Tourism & Travel
10.3.5. Financial & Banking

11. Africa
11.1. Africa Cloud Translation Services Market, by Country, 2016-2028(US$ Mn)
11.1.1. South Africa
11.1.2. Egypt
11.1.3. Nigeria
11.1.4. Rest of Africa
11.2. Africa Cloud Translation Services Market, by Type, 2016-2028(US$ Mn)
11.2.1. Overview
11.2.2. Written Translation Services
11.2.3. Interpretation Services
11.3. Africa Cloud Translation Services Market, by Application , 2016-2028(US$ Mn)
11.3.1. Overview
11.3.2. Legal
11.3.3. Medical
11.3.4. Tourism & Travel
11.3.5. Financial & Banking

12. Global
12.1. Global Cloud Translation Services Market, by Type, 2016-2028(US$ Mn)
12.1.1. Overview
12.1.2. Written Translation Services
12.1.3. Interpretation Services
12.2. Global Cloud Translation Services Market, by Application, 2016-2028(US$ Mn)
12.2.1. Overview
12.2.2. Legal
12.2.3. Medical
12.2.4. Tourism & Travel
12.2.5. Financial & Banking

13. Company Profiles
13.1. TransPerfect
13.2. Lionbridge
13.3. LanguageLine
13.4. SDL
13.5. RWS
13.6. WELOCALIZE
13.7. Yamagata Corporation
13.8. Semantix
13.9. Logos Group
13.10. Lingotek
13.11. MISSION ESSENTIAL PERSONNEL, LLC.
13.12. Alchemy
13.13. THEBIGWORD GROUP
13.14. PROZ
13.15. STARS Group
13.16. Others

List of Figures

FIG. 1 Global Cloud Translation Services Market: Research Methodology
FIG. 2 Market Size Estimation – Top Down & Bottom up Approach
FIG. 3 Global Cloud Translation Services Market Segmentation
FIG. 4 Global Cloud Translation Services Market, by Type, 2021 (US$ Mn)
FIG. 5 Global Cloud Translation Services Market, by Application , 2021 (US$ Mn)
FIG. 6 Global Cloud Translation Services Market, by Geography, 2021 (US$ Mn)
FIG. 7 Attractive Investment Proposition, by Type, 2021
FIG. 8 Attractive Investment Proposition, by Application, 2021
FIG. 9 Attractive Investment Proposition, by Geography, 2021
FIG. 10 Global Market Positioning of Key Cloud Translation Services Market Manufacturers, 2019
FIG. 11 Global Cloud Translation Services Market Value Contribution, By Type, 2021 & 2028 (Value %)
FIG. 12 Global Cloud Translation Services Market, by Written Translation Services, Value, 2016-2028 (US$ Mn)
FIG. 13 Global Cloud Translation Services Market, by Interpretation Services, Value, 2016-2028 (US$ Mn)
FIG. 14 Global Cloud Translation Services Market Value Contribution, By Application, 2021 & 2028 (Value %)
FIG. 15 Global Cloud Translation Services Market, by Legal, Value, 2016-2028 (US$ Mn)
FIG. 16 Global Cloud Translation Services Market, by Medical, Value, 2016-2028 (US$ Mn)
FIG. 17 Global Cloud Translation Services Market, by Tourism & Travel, Value, 2016-2028 (US$ Mn)
FIG. 18 Global Cloud Translation Services Market, by Financial & Banking, Value, 2016-2028 (US$ Mn)
FIG. 19 U.S. Cloud Translation Services Market, 2016-2028 (US$ Mn)
FIG. 20 Canada Cloud Translation Services Market, 2016-2028 (US$ Mn)
FIG. 21 Mexico Cloud Translation Services Market, 2016-2028 (US$ Mn)
FIG. 22 U.K. Cloud Translation Services Market, 2016-2028 (US$ Mn)
FIG. 23 Germany Cloud Translation Services Market, 2016-2028 (US$ Mn)
FIG. 24 France Cloud Translation Services Market, 2016-2028 (US$ Mn)
FIG. 25 Italy Cloud Translation Services Market, 2016-2028 (US$ Mn)
FIG. 26 Spain Cloud Translation Services Market, 2016-2028 (US$ Mn)
FIG. 27 Russia Cloud Translation Services Market, 2016-2028 (US$ Mn)
FIG. 28 BENELUX Cloud Translation Services Market, 2016-2028 (US$ Mn)
FIG. 29 Poland Cloud Translation Services Market, 2016-2028 (US$ Mn)
FIG. 30 Austria Cloud Translation Services Market, 2016-2028 (US$ Mn)
FIG. 31 Rest of Europe Cloud Translation Services Market, 2016-2028 (US$ Mn)
FIG. 32 Japan Cloud Translation Services Market, 2016-2028 (US$ Mn)
FIG. 33 China Cloud Translation Services Market, 2016-2028 (US$ Mn)
FIG. 34 India Cloud Translation Services Market, 2016-2028 (US$ Mn)
FIG. 35 South Korea Cloud Translation Services Market, 2016-2028 (US$ Mn)
FIG. 36 Australia Cloud Translation Services Market, 2016-2028 (US$ Mn)
FIG. 37 Southeast Asia Cloud Translation Services Market, 2016-2028 (US$ Mn)
FIG. 38 Rest of Asia Pacific Cloud Translation Services Market, 2016-2028 (US$ Mn)
FIG. 39 Middle East & Africa Cloud Translation Services Market, 2016-2028 (US$ Mn)
FIG. 40 South Africa Cloud Translation Services Market, 2016-2028 (US$ Mn)
FIG. 41 Nigeria Cloud Translation Services Market, 2016-2028 (US$ Mn)
FIG. 42 Egypt Cloud Translation Services Market, 2016-2028 (US$ Mn)
FIG. 43 GCC Cloud Translation Services Market, 2016-2028 (US$ Mn)
FIG. 44 Israel Cloud Translation Services Market, 2016-2028 (US$ Mn)
FIG. 45 Latin America Cloud Translation Services Market, 2016-2028 (US$ Mn)
FIG. 46 Brazil Cloud Translation Services Market, 2016-2028 (US$ Mn)
FIG. 47 Argentina Cloud Translation Services Market, 2016-2028 (US$ Mn)
FIG. 48 Colombia Cloud Translation Services Market, 2016-2028 (US$ Mn)
FIG. 49 Peru Cloud Translation Services Market, 2016-2028 (US$ Mn)
FIG. 50 Chile Cloud Translation Services Market, 2016-2028 (US$ Mn)

List of Tables

TABLE 1 Market Snapshot: Global Cloud Translation Services Market
TABLE 2 Global Cloud Translation Services Market, by Type, 2016-2028 (US$ Mn)
TABLE 3 Global Cloud Translation Services Market, by Application, 2016-2028 (US$ Mn)
TABLE 4 Global Cloud Translation Services Market, by Geography, 2016-2028 (US$ Mn)
TABLE 5 North America Cloud Translation Services Market, by Type, 2016-2028 (US$ Mn)
TABLE 6 North America Cloud Translation Services Market, by Application, 2016-2028 (US$ Mn)
TABLE 7 North America Cloud Translation Services Market, by Country, 2016-2028 (US$ Mn)
TABLE 8 Europe Cloud Translation Services Market, by Type, 2016-2028 (US$ Mn)
TABLE 9 Europe Cloud Translation Services Market, by Application, 2016-2028 (US$ Mn)
TABLE 10 Europe Cloud Translation Services Market, by Country/Region, 2016-2028 (US$ Mn)
TABLE 11 Asia Pacific Cloud Translation Services Market, by Type, 2016-2028 (US$ Mn)
TABLE 12 Asia Pacific Cloud Translation Services Market, by Application, 2016-2028 (US$ Mn)
TABLE 13 Asia Pacific Cloud Translation Services Market, by Country/Region, 2016-2028 (US$ Mn)
TABLE 14 Latin America Cloud Translation Services Market, by Type, 2016-2028 (US$ Mn)
TABLE 15 Latin America Cloud Translation Services Market, by Application, 2016-2028 (US$ Mn)
TABLE 16 Latin America Cloud Translation Services Market, by Country/Region, 2016-2028 (US$ Mn)
TABLE 17 Middle East Cloud Translation Services Market, by Type, 2016-2028 (US$ Mn)
TABLE 18 Middle East Cloud Translation Services Market, by Application, 2016-2028 (US$ Mn)
TABLE 19 Middle East Cloud Translation Services Market, by Country/Region, 2016-2028 (US$ Mn)
TABLE 20 Africa Cloud Translation Services Market, by Type, 2016-2028 (US$ Mn)
TABLE 21 Africa Cloud Translation Services Market, by Application, 2016-2028 (US$ Mn)
TABLE 22 Africa Cloud Translation Services Market, by Country/Region, 2016-2028 (US$ Mn)

Frequently Asked Questions

How does COVID-19 Impact the global Cloud Translation Services Market?

The COVID 19 pandemic affected the cloud translation services market as well, which led to a decrease in revenue in 2020 as a result of the temporary suspension of numerous development projects and deals by various businesses.

Which is the leading market for Cloud Translation Services Market?

The largest share of the global market for cloud translation services was held by North America.

What are the key drivers for the growth of the Cloud Translation Services Market?

It is also anticipated that the market for cloud translation services will expand more quickly due to current trends in global marketing are the major factors driving the growth of the market.

Which is the major segment in Cloud Translation Services Market by Type?

Written Translation Services, had a major share in 2021 with around 60% of the market revenue share.

Which is the major segment in Cloud Translation Services Market by Application ?

Medical had a major share in the global market in 2021.

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