Software Localization Market Reach USD 15.6 Billion by 2032 - NORTHEAST - NEWS CHANNEL NEBRASKA | Metaglossia: The Translation World | Scoop.it

"According to the report published by Allied Market Research, Software Localization Market Reach USD 15.6 Billion by 2032. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape...


The software localization market is segmented on the basis of offering, type, and end user. Based on offering, the market is segmented into solution, and service. Based on type, the market is segmented into computer-assisted translation software, machine translation software and translation management software. On the basis of end user, it is segmented into individual and enterprises. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.


The report analyzes the profiles of key players operating in the software localization market such as IBM, Microsoft, Lionbridge Technologies, LLC, SDL/Trados, Google, SYSTRAN, Babylon Corporation, The Babel Fish Corporation, Argos Multilingual, Alchemy Software Development Ltd. These players have adopted various strategies to increase their market penetration and strengthen their position in the software localization market size.


Based on region, North America held the major share in 2022, garnering more than one-third of the global software localization market revenue. This is because, with the advancements in machine translation and artificial intelligence, companies in North America are increasingly leveraging these technologies to streamline the software localization process. On the other hand, the Europe region is projected to rule the roost in terms of revenue during the forecast. However, the Asia-Pacific region is expected to witness the fastest CAGR of 13.5% from 2023 to 2032. The governments in the Asia-Pacific region have recognized the importance of technology adoption and digital innovation for economic growth. Many governments have implemented initiatives to promote the development of local software industries, including support for software localization efforts.


Based on end user, the large enterprises segment held the highest market share in 2022, contributing to nearly two-thirds of the global software localization market revenue, and is projected to rule the roost by 2032. As large enterprises are adopting agile methodologies and DevOps practices in their software development processes. This shift towards agile development has implications for software localization as well. However, the small and medium-sized enterprises segment would showcase the highest CAGR of 12.6% from 2023 to 2032. This is because SMEs are recognizing the importance of providing a seamless and localized mobile experience to effectively engage with global customers.


Based on offering, the solution segment held the largest market share in 2022, accounting for more than two-thirds of the global software localization market revenue, and is estimated to maintain its leadership status throughout the forecast period. The advancement of machine translation (MT) technologies, particularly neural machine translation (NMT), has improved translation quality and efficiency. The integration of MT with localization solutions, such as TMS and translation memory tools, drives the adoption of these technologies, leading to their growth in the market. However, the service segment is projected to manifest the highest CAGR of 12.0% from 2023 to 2032. Due to the growing complexity of software applications, LSPs are providing comprehensive localization testing services...


David Correa
Allied Market Research
+ + + + + +1 800-792-5285"
https://northeast.newschannelnebraska.com/story/53265004/software-localization-market-reach-usd-156-billion-by-2032
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