市场调查报告书
商品编码
1296913
2023-2030年全球语言服务市场Global Language Services Market 2023-2030 |
在预测期内,全球语言服务市场预计将以6.6%的复合年增长率增长。笔译和口译服务外包的增加,预计将在预测期内推动语言服务市场的增长。笔译和口译服务的外包是指从外部来源向专业翻译机构采购语言服务。笔译和口译服务的外包有助于语言服务的增长,因为它提供大量的基础设施,以支持使专业翻译可行的技术。根据欧洲一家翻译公司协会在2022年5月进行的欧洲语言行业调查,在欧洲,2022年外包给语言公司的业务平均(加权)比例约为22.0%,其水平在所有中小型企业中基本一致。这比2020年报告的18.0%的数字高得多。因此,笔译和口译服务外包的增加正在推动语言服务市场的增长。
技术进步是语言服务市场的一个主要趋势。市场上的主要参与者正在利用人工智能和机器学习创造技术先进的产品,以保持市场竞争力。例如,2022年10月,美国的跨国技术集团Meta公司推出了一个由人工智能驱动的无文字语言的语音翻译系统。这个人工智能驱动的语音翻译系统是通用语音翻译器(UST)项目的一部分,该项目打算开发人工智能系统,实现所有语言的实时语音翻译,包括那些会说但不经常书写的语言。这个人工智能系统可以减少语言障碍,促进现实世界和元世界的沟通和理解。
Title: Global Language Services Market Size, Share & Trends Analysis Report by Type (Translation Services, Localization Services, and Interpreting Services), by Component (Software and Hardware), by end-user (BFSI, IT and Telecom, Media and Entertainment, Retail and E-Commerce, Healthcare, Government, Education, Travel and Transport) Forecast Period (2023-2030).
The global language services market is anticipated to grow at a CAGR of 6.6% during the forecast period. An increase in the outsourcing of translation and interpreting services is expected to propel the growth of the language services market over the forecast period. The outsourcing of translation and interpretation services refers to procuring language services from outside sources to a professional translation agency. Outsourcing of translation and interpretation services aids in the growth of language services as it offers substantial infrastructure, to support the technologies that make professional translation feasible. According to the European Language Industry Survey, conducted by a Europe-based association of translation companies, in May 2022, in Europe, the average (weighted) percentage of business that is outsourced to language companies is around 22.0% in 2022, with levels that are largely consistent across all small and medium-sized businesses. This is much higher than the reported 2020 figure of 18.0%. Therefore, an increase in the outsourcing of translation and interpretation services is driving the growth of the language services market.
Technological advancement is a key trend in the language services market. Major players in the market are creating technologically advanced products using artificial intelligence and machine learning to stay competitive in the market. For instance, in October 2022, Meta Inc., a US-based multinational technology conglomerate, launched an AI-powered speech translation system for an unwritten language. The AI-powered speech translation system is a part of the universal speech translator (UST) project which intends to develop AI systems that enable real-time translation from speech to speech in all languages, including those that are spoken but not frequently written. This AI system can reduce language barriers to promote communication and understanding in both the real world and the metaverse.
The global language services market is segmented based on type, component, and by end-user. Based on type, the market is bifurcated into translation services, localization services, and interpreting services. By component, the market is bifurcated into software and hardware. Further, by end-user, the market is sub-segmented into BFSI, IT and Telecom, media and entertainment, retail and e-commerce, healthcare, and government. Among these, the IT and Telecom sub-segment accounted for the dominant share of the market during the forecast period. This can be attributed to the rapid advancements in the IT and telecommunication industry leading to software development for accurate translation and interpretation results.
An increase in demand for non-English languages is expected to propel the growth of the translation services market. The range of translation services is expanding to meet client demands based on preferred languages. According to the U.S. Census Bureau, in the US, 21.7% of households do not speak English. This translates to one in every five people. There are 3.3 billion multilingual people in the globe, accounting for 43.0% of the global population. Therefore, the increasing demand for non-English languages is driving the growth of the translation services market. Technological advancements are the key trend gaining popularity in the translation services. Major companies operating in the market are focusing on developing technologically advanced solutions. For instance, in October 2022, Google LLC, a US-based technology company launched Translation Hub, a new cloud service that allows companies to translate documents on a self-service basis.
Regional Outlook
The global language services market is further segmented based on geography including North America (the US and Canada), Europe (UK, Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East and Africa, and Latin America). Among these, the Asia-Pacific region is projected to expand at a significant CAGR during the forecast period, due to the increasing demand for foreign language skills in countries such as China and India.
Global Language Services Market Growth, by Region 2023-2030
Source: OMR Analysis
North America is expected to continue to account for a larger revenue share among other regional markets during the forecast period due to the increasing diversity in the region. According to the U.S. Census Bureau, more than 350 languages are spoken in the US. The Asian population is also rising owing to the increased immigration which will further drive the market growth. The players in the market are looking to strengthen their competitiveness through various efforts such as merger and acquisitions, increased R&D, and new product launches. For instance, in May 2022, Interpreters Unlimited headquartered in San Diego, California introduced a mobile app called New Interpreter Services for booking language services. The app uses IU's proprietary auto-scheduling system on the back end which can book a linguist within minutes. All appointment management is handled completely inside the app.
Market Players Outlook
The major companies serving the global language services market include Atlas Language Services Inc., Lionbridge Technologies Inc., RWS Holdings PLC, and Semantix. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, funding, collaborations, and new product launches to stay competitive in the market. For instance, in August 2022, Telelanguage, a Portland-based industry language service provider specializing in remote interpreting, was acquired by Propio Language Services (Propio), a technology-enabled interpreting and translation service supplier. Propio joined the top five global remote interpreting companies in terms of volume with this acquisition. In April 2022, a leading global language services company, BIG Language Solutions, announced the purchase of Milan-based Lawlinguists, a provider of legal translation services. The purchase allowed BIG's European footprint to include Italy, Germany, and Spain, giving its clients access to legal translation services, tools, and technology.
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