According to a new report published by Allied Market Research, titled, “Software Localization Market,” The software localization market was valued at $5.9 billion in 2022, and is estimated to reach $15.6 billion by 2032, growing at a CAGR of 10.6% from 2023 to 2032.
Localization software is a computer program that allows companies to translate their content into different languages and formats. With the rise of smartphones and mobile apps, the demand for mobile app localization has increased significantly. Companies are focusing on localizing their apps to tap into global markets and provide a better user experience for non-English-speaking users. In addition, advances in machine translation and artificial intelligence have had a significant impact on the software localization industry.
𝐆𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 : https://www.alliedmarketresearch.com/request-sample/A107562
While human translators are still crucial for ensuring quality and cultural accuracy, machine translation and AI technologies have improved efficiency by automating certain parts of the localization process, such as content extraction and translation memory management. Furthermore, the agile development methodology, which emphasizes iterative and collaborative approaches, is gaining popularity in software development. This methodology has also influenced the localization process, leading to the adoption of agile localization practices, such as continuous localization and integration of localization within the development cycle. This is driving the growth of the software localization market forecast and creating new opportunities for players and developers.
Furthermore, major market players have undertaken various strategies to increase the competition and offer enhanced services to their customers. For instance, in April 2023, Phrase, a global leader in cloud-based localization technology, and Lionbridge, a recognized pioneer in language technology innovation and one of the world’s largest language service providers, have signed a multiyear agreement to add Phrase’s leading-edge capabilities to the already powerful range of Lionbridge translation and localization solutions. The partnership combines Lionbridge’s global scale and world class tech stack with the outstanding user experience offered by Phrase.
On the basis of end user, the large enterprises segment is the highest growing segment. This is because large enterprises are increasingly adopting automation technologies to streamline and expedite the software localization process. This includes using machine translation, natural language processing, and other AI-based tools to automate repetitive tasks, such as text extraction, translation, and linguistic quality assurance. Automation helps improve efficiency, reduce costs, and accelerate time-to-market for localized software. In addition, large enterprises are adopting agile methodologies and DevOps practices in their software development processes. However, small and medium-sized enterprises segment is considered to be the fastest growing segment during the forecast period. This is because SMEs are increasingly turning to cloud-based translation management systems and localization platforms. These solutions offer cost-effective and scalable options for managing software localization projects. Cloud-based systems enable SMEs to collaborate with translation teams, track project progress, and streamline localization workflows, making the process more efficient and accessible for smaller businesses.
𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/software-localization-market/purchase-options
By region, North America witnessed the highest growth in 2022. This is because the North American companies are placing a greater emphasis on quality assurance in software globalization. They are investing in thorough testing processes to ensure that localized software meets the highest standards in terms of linguistic accuracy, functionality, and user experience. This includes linguistic testing, functional testing, and compatibility testing across different platforms and devices. These are the major software localization market trends in this region. However, Asia-Pacific is considered to be the fastest growing region during the forecast period. This is because the Asia-Pacific region is culturally diverse, with a multitude of languages spoken across different countries. As businesses expand their operations into Asia-Pacific markets, there is a growing recognition of the need to provide localized content and software products to cater to the linguistic and cultural preferences of the target audience. This demand for localized content has been a significant driver of the software localization market.
The COVID-19 pandemic had moderately impacted the software localization industry. As businesses shifted their operations online and expanded their global reach, there had been a higher demand for software localization to cater to diverse language markets. Moreover, many companies had recognized the potential of reaching international markets during the pandemic. In addition, localization has played a crucial role in enabling businesses to expand their reach and effectively engage with global audiences. This had led to increased investment in software localization services. However, the pandemic introduced new challenges for software localization. Translating and adapting COVID-19-related content required specialized expertise and quick turnarounds. In addition, the need for accurate and timely translations of rapidly changing information posed challenges for localization teams. Furthermore, localization conferences, industry events, and trade shows were either canceled or moved to virtual formats, resulting in limited networking opportunities for professionals in the software localization industry. This created a negative impact on business development, partnerships, and knowledge sharing. Therefore, COVID-19 pandemic had a moderate impact in the software localization market.
Key findings of the study
By offering, the solution segment led the software localization market share in terms of revenue in 2022.
By type, the translation management software segment led the software localization market size in terms of revenue in 2022.
By end user, the large enterprises segment led the software localization market in terms of revenue in 2022.
By region, North America generated the highest revenue in 2022.
𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/A107562
The key players profiled in the software localization market analysis are 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 industry.
𝐂𝐨𝐧𝐭𝐚𝐜𝐭 :
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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