- 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
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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.
- Crowdin
- Lessify.io
- lingohub GmbH
- Lokalise, Inc.
- MateCat
- memoQ
- Memsource
- MotionPoint Corporation.
- Pairaphrase LLC
- PoliLingua UK Ltd
- SDL Limited
- Smartcat Platform Inc.
- TOMEDES.
- Transifex
- ZELENKA Czech Republic s.r.o
Read TMR Research Methodology at: https://www.transparencymarketresearch.com/methodology.html
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