Language translation is the process of changing the language that is written or spoken to another language. Translation encourages global interaction; it permits interactive relationships in different fields such as trade, education, technology, finance, etc. It becomes very easy to communicate in any language due to the development of language translation software.
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The driving factor for the global language translation software market is rise in need for business to interact with employees and consumers in different regions. Language is a crucial driver for the growth of an organization. Moreover, rise in usage of smart phones is a significant factor, which is considered as an important factor globally and is projected to drive the market during the estimated period.
For instance, Samsung Galaxy is able to operate in different languages. Every organization has to provide different websites for different languages to interact with customers in different regions. Enterprises are investing hugely in language translation tools to improve business efficiency and productivity.
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Large amount of data generation from several industries is one of the major factors which is driving the growth of this market. However, the high cost and complicated structure is hampering the growth of the market.
The global language translation software market is segmented based on component, function, application, end use vertical, and geography. On the basis of component, the market is sub segmented into solution and service. The solution component is further bifurcated into hybrid machine translation, rule-based machine translation and statistical based machine translation.