Astute Analytica newly declared the publication of its new report on the global Translation Service Market. The study evaluates important factors, such as market drivers, constraints, opportunities, and future trends, that will have a substantial impact on the market throughout the projected time period from both the supply and demand sides.
The Global Translation Service Market is expected to grow at a CAGR of 6.7% and reach the market value of US$ 81,647.4 million by 2030. It is projected to offer a growth opportunity worth US$ 33,951.3 million during the forecast period 2022 to 2030.
The global translation service market analysis focuses on market share and competitiveness index, which helps determine the sector’s main player’s contributions. Each organization is evaluated on a regular basis based on a range of factors, such as financial insights, regional engagement, market efficiency, vital data, product range, and segment contribution.
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Governmental agencies are increasing their maintenance spending for system infrastructure while also supporting programs for project creation, modernization, and improvement. ICT vendors now set aside money each year to support the expansion of the online market as a result of the investments’ success.
In order to provide a deeper knowledge of the numerous aspects that validate our study findings, competitive frameworks including Porter’s Five Forces analysis, a BCG matrix, as well as SWOT and PESTLE analysis, will be described in an understandable manner.
The top players are BIG Language Solutions, Certified Languages International, Global Talk, Keyword Studios, Language Line Solutions.
It is expected that global ICT exports will rise 3.9% per year, from US$ 784.3 billion in 2021 to US$955.19 billion in 2030. Since 2009, the global supply has grown by 9.5% annually. Ireland ranked top in the world for ICT exports in 2021 with US$ 169.32 billion. China was ranked fourth, followed by the United States at number two and India at number three. Brunei has grown by 228.2% annually since 2009, whereas Sierra Leone has shrunk by 61.7% annually.
Europe ICT Revenue is projected to reach US$ 1,953,429 Million in 2026, up 1.5% yearly from US$ 1,805,413 Million in 2021. Since 2016, the European market has grown by 3.3% yearly. Germany ranked first in Europe for ICT revenue in 2021 with US$ 339,094 million. Ireland, France, and the United Kingdom held positions 2, 3, and 4, respectively, in this list. Since 2016, Malta has seen year-over-year growth of 16.5% while Italy has seen a 0.2% decline.
The US, the EU, and other countries’ economic sanctions and other actions against Russia have specifically had an influence on ICT.
Asia Pacific is home to a wide range of countries. Countries like Singapore, South Korea, India, Thailand, and Taiwan are particularly affected by growing import inflation as a result of the local currency’s decline as net importers of energy and commodities. While the current situation has been advantageous for Australia and Indonesia, which export items like coal, oil, and gas.
Our customers may learn about the Translation Service Market’s components, including its goods and services, distribution methods, current technological advancements, and other possible applications, thanks to the market segmentation chapter.
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- Technical Translation
- Administrative Translation
- Website Translation
- Machine Translation (MT)
- Rule-Based Machine Translation (RBMT)
- Neural machine translation
- Computer-Assisted Translation (CAT)
- Written Translation
- Literary Translation
- Travel & Tourism
- Banking & Finance
- North America
- The U.S.
- Western Europe
- The UK
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific
- South Korea
- Australia & New Zealand
- Rest of Asia pacific
- South America
- Rest of South America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- Western Europe
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