Translation Management Systems Market
PUBLISHED: 2024 ID: SMRC26168
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Translation Management Systems Market

Translation Management Systems Market Forecasts to 2030 - Global Analysis By Offering (Software and Services), Enterprise Size (Enterprise-Level TMS, Mid-Size Business TMS and Small Business/Startup TMS), Content, Deployment Mode, Application, End User and By Geography

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4.9 (26 reviews)
Published: 2024 ID: SMRC26168

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Translation Management Systems Market is accounted for $2.16 billion in 2023 and is expected to reach $5.68 billion by 2030 growing at a CAGR of 18.2% during the forecast period. Translation Management Systems (TMS) are software platforms designed to streamline the process of translating content across multiple languages. They facilitate collaboration among translators, project managers, and clients by centralizing translation workflows, managing translation assets, and providing tools for translation, editing, and quality assurance. TMS automate tasks like file preparation, project assignment, and deadline tracking, improving efficiency and consistency in translation projects.

According to the paper published in December 2021 by IEEE, in recent years, artificial intelligence made a major impact on language translation softwares.

Market Dynamics: 

Driver: 

Content localization needs

As businesses expand globally, the demand for TMS rises to facilitate the translation of websites, marketing materials, software interfaces, and documentation into multiple languages. TMS streamlines the localization process, enabling companies to reach international markets effectively while maintaining linguistic and cultural relevance. This increased demand for TMS solutions not only expands the market but also stimulates innovation, leading to the development of more advanced and versatile translation technologies to meet evolving localization needs.

Restraint:

Linguistic and cultural challenges

Linguistic and cultural challenges in Translation Management Systems stem from complexities in accurately capturing nuances, idioms, and cultural references. These challenges can lead to inaccuracies and misunderstandings in translations, undermining trust and usability. Consequently, businesses may hesitate to fully embrace TMS due to concerns about the quality and effectiveness of translations, hindering market growth as organizations seek reliable solutions to bridge linguistic and cultural gaps efficiently.

Opportunity:

Rise of real-time communication channels

The rise of real-time communication channels such as live chat and video conferencing creates a pressing need for instant translation services. TMS meet this demand by offering capabilities for real-time translation of conversations, facilitating seamless communication across language barriers. This trend drives the growth of the TMS market as businesses increasingly rely on these systems to engage with global audiences in real-time, enabling them to expand their reach, improve customer support, and foster collaboration on a global scale, thereby fueling the adoption of TMS solutions.

Threat:

Integration Complexities

Integration complexity in translation management systems arises from the need to seamlessly connect with existing systems and workflows within organizations. This complexity can hamper market growth by prolonging implementation timelines, increasing costs, and causing disruptions to operations. Organizations may hesitate to adopt TMS due to concerns about compatibility issues, data migration challenges, and the need for extensive customization, ultimately slowing down the market's expansion.

Covid-19 Impact

The covid-19 pandemic accelerated the demand for translation management systems as businesses pivoted to remote work and expanded their online presence globally. This led to increased requirements for multilingual communication and content localization. However, economic uncertainties caused some organizations to prioritize cost-cutting measures, impacting TMS investment decisions. Overall, the pandemic underscored the importance of TMS in facilitating cross-border communication but also introduced challenges related to budget constraints, affecting market growth.

The text-based content segment is expected to be the largest during the forecast period

The text-based content segment is estimated to have a lucrative growth. Text-based content forms the backbone of TMS, encompassing documents, websites, and digital content. TMS efficiently processes and translates this content into multiple languages, facilitating global communication and accessibility. TMS streamlines translation workflows, enhances accuracy, and enables businesses to reach diverse markets effectively, driving its adoption.

The media & entertainment segment is expected to have the highest CAGR during the forecast period

The media & entertainment segment is anticipated to witness the highest CAGR growth during the forecast period, due to its pivotal role in facilitating global content distribution. These systems streamline the translation process for subtitles, audio dubbing, and written materials, enabling seamless localization of movies, TV shows, video games, and digital content. By efficiently translating content into multiple languages, TMS ensures broader audience reach and enhanced user experience, driving international success and maximizing revenue potential for media and entertainment companies.

Region with largest share:

Asia Pacific is projected to hold the largest market share during the forecast period due to increasing globalization and digitalization efforts across industries. Companies are increasingly investing in TMS to streamline their localization processes and cater to diverse linguistic needs in the region. Key factors such as rising internet penetration, expanding e-commerce activities, and the proliferation of mobile technology are further fueling the demand for TMS solutions. Moreover, the emergence of AI and machine learning technologies in emerging economies are driving market expansion in the Asia Pacific.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, propelled by the region's diverse linguistic landscape and the need for multilingual content across various sectors. The market is also benefiting from the increasing demand for localization services driven by globalization and expanding international trade. Furthermore, advancements in technology, such as AI and natural language processing, are enhancing the capabilities of TMS solutions, driving further market expansion in North America.

Key players in the market

Some of the key players profiled in the Translation Management Systems Market include Simple DirectMedia Layer (SDL), Oracle Corporation, Lionbridge Technologies, Smartling, Memsource, XTM International, Wordbee, Transifex, Pairaphrase, Google, memoQ, GlobalSight, Across Systems GmbH, Acolad Group and TransPerfect.

Key Developments:

In January 2024, Bosch Brazil partnered with Oracle to harness Oracle Digital Assistant’s (ODA) multilingual capabilities. The partnership demonstrates the power of integrating technologies such as artificial intelligence and customer service. Bosch selected ODA because of its versatility in generating and understanding not only responses in different languages, but also its ability to generate speech in multiple languages.

In January 2024, Acolad expanded its already extensive solutions and technology portfolio through the introduction of its artificial intelligence powered solution – AI voice-over. The new solution ensures impactful synthetic voice-over and dubbing by combining the latest speech synthesis technology and high-quality resources.

In December 2023, Google partnered with Welocalize to evaluate its adaptive translation LLM solution. Welocalize, in partnership with Google, conducted a case study to evaluate the effectiveness of Google’s adaptive translation LLM solution.

Offerings Covered:
• Software
• Services

Enterprise Sizes Covered:
• Enterprise-Level TMS
• Mid-Size Business TMS
• Small Business/Startup TMS

Contents Covered:
• Audio-based Content
• Video-based Content
• Text-based Content

Deployment Modes Covered:
• On-premises
• Cloud-based

Applications Covered:
• Translation Memory
• Workflow Automation
• Content Management Integration
• Machine Translation Integration
• Collaboration Tools
• Reporting & Analytics
• Other Applications

End Users Covered:
• Healthcare
• E-commerce
• Government & Public Sector
• Media & Entertainment
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary            
              
2 Preface             
 2.1 Abstract            
 2.2 Stake Holders           
 2.3 Research Scope           
 2.4 Research Methodology          
  2.4.1 Data Mining          
  2.4.2 Data Analysis          
  2.4.3 Data Validation          
  2.4.4 Research Approach          
 2.5 Research Sources           
  2.5.1 Primary Research Sources         
  2.5.2 Secondary Research Sources         
  2.5.3 Assumptions          
              
3 Market Trend Analysis           
 3.1 Introduction           
 3.2 Drivers            
 3.3 Restraints           
 3.4 Opportunities           
 3.5 Threats            
 3.6 Application Analysis          
 3.7 End User Analysis           
 3.8 Emerging Markets           
 3.9 Impact of Covid-19           
              
4 Porters Five Force Analysis           
 4.1 Bargaining power of suppliers          
 4.2 Bargaining power of buyers          
 4.3 Threat of substitutes          
 4.4 Threat of new entrants          
 4.5 Competitive rivalry           
              
5 Global Translation Management Systems Market, By Offering        
 5.1 Introduction            
 5.2 Software            
  5.2.1 Localization Software         
  5.2.2 Translation Project Management Software       
  5.2.3 Terminology Management Software        
  5.2.4 Quality Assurance Software         
 5.3 Services            
  5.3.1 Professional Services         
  5.3.2 Managed Services          
              
6 Global Translation Management Systems Market, By Enterprise Size       
 6.1 Introduction           
 6.2 Enterprise-Level TMS          
 6.3 Mid-Size Business TMS          
 6.4 Small Business/Startup TMS          
              
7 Global Translation Management Systems Market, By Content        
 7.1 Introduction           
 7.2 Audio-based Content          
 7.3 Video-based Content          
 7.4 Text-based Content           
              
8 Global Translation Management Systems Market, By Deployment Mode       
 8.1 Introduction           
 8.2 On-premises           
 8.3 Cloud-based           
              
9 Global Translation Management Systems Market, By Application       
 9.1 Introduction           
 9.2 Translation Memory          
 9.3 Workflow Automation          
 9.4 Content Management Integration         
 9.5 Machine Translation Integration         
 9.6 Collaboration Tools           
 9.7 Reporting & Analytics          
 9.8 Other Applications           
              
10 Global Translation Management Systems Market, By End User       
 10.1 Introduction           
 10.2 Healthcare           
 10.3 E-commerce           
 10.4 Government & Public Sector          
 10.5 Media & Entertainment          
 10.6 Other End Users           
              
11 Global Translation Management Systems Market, By Geography       
 11.1 Introduction           
 11.2 North America           
  11.2.1 US           
  11.2.2 Canada           
  11.2.3 Mexico           
 11.3 Europe            
  11.3.1 Germany           
  11.3.2 UK           
  11.3.3 Italy           
  11.3.4 France           
  11.3.5 Spain           
  11.3.6 Rest of Europe          
 11.4 Asia Pacific           
  11.4.1 Japan           
  11.4.2 China           
  11.4.3 India           
  11.4.4 Australia           
  11.4.5 New Zealand          
  11.4.6 South Korea          
  11.4.7 Rest of Asia Pacific          
 11.5 South America           
  11.5.1 Argentina          
  11.5.2 Brazil           
  11.5.3 Chile           
  11.5.4 Rest of South America         
 11.6 Middle East & Africa          
  11.6.1 Saudi Arabia          
  11.6.2 UAE           
  11.6.3 Qatar           
  11.6.4 South Africa          
  11.6.5 Rest of Middle East & Africa         
              
12 Key Developments            
 12.1 Agreements, Partnerships, Collaborations and Joint Ventures       
 12.2 Acquisitions & Mergers          
 12.3 New Product Launch          
 12.4 Expansions           
 12.5 Other Key Strategies          
              
13 Company Profiling            
 13.1 Simple DirectMedia Layer (SDL)         
 13.2 Oracle Corporation           
 13.3 Lionbridge Technologies          
 13.4 Smartling            
 13.5 Memsource           
 13.6 XTM International           
 13.7 Wordbee            
 13.8 Transifex            
 13.9 Pairaphrase           
 13.10 Google            
 13.11 memoQ            
 13.12 GlobalSight           
 13.13 Across Systems GmbH          
 13.14 Acolad Group           
 13.15 TransPerfect           
              
List of Tables             
1 Global Translation Management Systems Market Outlook, By Region (2021-2030) ($MN)     
2 Global Translation Management Systems Market Outlook, By Offering (2021-2030) ($MN)     
3 Global Translation Management Systems Market Outlook, By Software (2021-2030) ($MN)     
4 Global Translation Management Systems Market Outlook, By Localization Software (2021-2030) ($MN)    
5 Global Translation Management Systems Market Outlook, By Translation Project Management Software
 (2021-2030) ($MN)  
6 Global Translation Management Systems Market Outlook, By Terminology Management Software (2021-2030) ($MN)  
7 Global Translation Management Systems Market Outlook, By Quality Assurance Software (2021-2030) ($MN)   
8 Global Translation Management Systems Market Outlook, By Services (2021-2030) ($MN)     
9 Global Translation Management Systems Market Outlook, By Professional Services (2021-2030) ($MN)    
10 Global Translation Management Systems Market Outlook, By Managed Services (2021-2030) ($MN)    
11 Global Translation Management Systems Market Outlook, By Enterprise Size (2021-2030) ($MN)    
12 Global Translation Management Systems Market Outlook, By Enterprise-Level TMS (2021-2030) ($MN)    
13 Global Translation Management Systems Market Outlook, By Mid-Size Business TMS (2021-2030) ($MN)    
14 Global Translation Management Systems Market Outlook, By Small Business/Startup TMS (2021-2030) ($MN)   
15 Global Translation Management Systems Market Outlook, By Content (2021-2030) ($MN)     
16 Global Translation Management Systems Market Outlook, By Audio-based Content (2021-2030) ($MN)    
17 Global Translation Management Systems Market Outlook, By Video-based Content (2021-2030) ($MN)    
18 Global Translation Management Systems Market Outlook, By Text-based Content (2021-2030) ($MN)    
19 Global Translation Management Systems Market Outlook, By Deployment Mode (2021-2030) ($MN)    
20 Global Translation Management Systems Market Outlook, By On-premises (2021-2030) ($MN)    
21 Global Translation Management Systems Market Outlook, By Cloud-based (2021-2030) ($MN)     
22 Global Translation Management Systems Market Outlook, By Application (2021-2030) ($MN)     
23 Global Translation Management Systems Market Outlook, By Translation Memory (2021-2030) ($MN)    
24 Global Translation Management Systems Market Outlook, By Workflow Automation (2021-2030) ($MN)    
25 Global Translation Management Systems Market Outlook, By Content Management Integration (2021-2030) ($MN)   
26 Global Translation Management Systems Market Outlook, By Machine Translation Integration (2021-2030) ($MN)   
27 Global Translation Management Systems Market Outlook, By Collaboration Tools (2021-2030) ($MN)    
28 Global Translation Management Systems Market Outlook, By Reporting & Analytics (2021-2030) ($MN)    
29 Global Translation Management Systems Market Outlook, By Other Applications (2021-2030) ($MN)    
30 Global Translation Management Systems Market Outlook, By End User (2021-2030) ($MN)     
31 Global Translation Management Systems Market Outlook, By Healthcare (2021-2030) ($MN)     
32 Global Translation Management Systems Market Outlook, By E-commerce (2021-2030) ($MN)     
33 Global Translation Management Systems Market Outlook, By Government & Public Sector (2021-2030) ($MN)   
34 Global Translation Management Systems Market Outlook, By Media & Entertainment (2021-2030) ($MN)   
35 Global Translation Management Systems Market Outlook, By Other End Users (2021-2030) ($MN)    
              
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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