Globalization and liberalization measures by government bodies was among the most prominent business developments during the 21st century. Globalization has allowed the opening up of country borders for the free operation of foreign businesses, which in turn has lead to the growth of multi national corporations (MNCs). The growth of the internet and smart devices has taken the industries by storm, and digital content is proliferating at an exponential pace. Studies show that more than 4.13 billion individuals are active on the internet, and this means that around half of the global population is connected to the internet. Digitization measures are prompting companies to bring out quality content suited to an individual’s preference. English is the official business language which is currently being adopted by the companies. However, not everyone is well-versed in the language, and it becomes important to provide mobile applications, software, website content, etc., in multiple languages to widen the consumer base. Mandarin Chinese, for instance, is spoken by over 1 billion individuals on earth, and in regions like the Baltics, Scandinavia, etc., English is not widely spoken. The process of adapting or converting software to a specific country’s language, legal requirement, culture, etc., through the modification of visible components such as user interface, documentation, images, etc., is referred to as software localization. These factors are leading to the growth of software localization tools market. Earlier, localization of the software was done by copy and pasting source content into spreadsheets. Language translators would then translate the content into the specified language before transferring the content back to the spreadsheet. Finally, the software developers had to insert the translated content back to the source code before it could be displayed to the user. This process is time consuming, complex and highly labour intensive, and the content cannot be supplied at a faster pace. Software localization tools are being developed to ease this process. Lokalise, for instance, helps is faster localization of the software, and the developers are being able to save hours before the final push of the software. The tool has also been integrated with GitHub, Bitbucket, JIRA, etc., for faster procurement of the source code. Hence, the rising demand for faster and economical translation tools amongst the end-users for reaching a wider range of consumers as a result of globalization is leading to the growth of the global software localization tools market.
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Consumers and businesses around the globe are grappling with the COVID-19 pandemic. It has resulted in the death of millions of individuals, and companies have been forced to alter their strategies to keep their businesses afloat. Digitization is being increasingly focussed by companies, and the SMEs are increasingly entering the space of e-commerce for ensuring the sale of their products. Companies are also trying to venture into new markets through expansion measures, and translating the content to cater to the requirement of the local populace, which is highly imperative for the success of the product. The higher focus on software translation as a result of the pandemic is expected to lead to the greater adoption of software localization tools, especially amongst the retail sector. Hence, the COVID-19 pandemic is expected to have a positive impact on the global software localization tools market in the coming years.
In terms of revenue, global software localization tools market was valued at US$ 1007.07 Mn in 2019 and is anticipated to grow at a CAGR of 4.10% over the forecast period. The study analyses the market in terms of revenue across all the major regions, which have been bifurcated into countries.
The report provides both, qualitative and quantitative research of software localization tools market, as well as provides comprehensive insights and development methods adopted by the key contenders. The report also offers extensive research on the key players in this market and details on the competitiveness of these players. Key business strategies such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts adopted by these major market participants are also recognized and analysed in the report. For each company, the report studies their global presence, competitors, service offerings and specification amongst others.
Some of the players operating in the software localization tools market are Alchemy Software Development Ltd., Alconost Inc., Atril Solutions., Code Whale Inc., Crowdin, CSOFT International, Ltd., Lingobit Technologies, lingohub GmbH, Localize Corporation., Lokalise, Palex Group Inc., Phrase – Dynport GmbH, Plunet, Rex Partners Oy., SDL Group, SMARTLING., Transifex, Venga Global, Wordfast, LLC, amongst others., amongst others.
Global Software Localization Tools Market:
- By Offering
- Solutions
- Cloud
- On Premise
- Services
- Solutions
- By Organization Size
- Small and Medium Enterprises
- Large Enterprises
- By End-User
- Education and Training
- Banking, Financial Services and Insurance
- Travel and Hospitality
- Information Technology and Telecommunication
- Manufacturing and Automotive
- Construction
- Media and Entertainment
- Health and Wellness
- Retail and Consumer Goods
- Energy and Utilities
- Others
- By Type
- Computer Assisted Translation (CAT)
- Translation Management System (TMS)
- Quality Assurance Tools
- Bug Tracking Tools
- Others
- By Region:
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- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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