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언어 서비스 시장 : 성장, 동향, COVID-19의 영향과 예측(2021-2026년)

Language Services Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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언어 서비스 시장 : 성장, 동향, COVID-19의 영향과 예측(2021-2026년) Language Services Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
발행일 : 2022년 01월 페이지 정보 : 영문

본 상품은 영문 자료로 한글과 영문 목차에 불일치하는 내용이 있을 경우 영문을 우선합니다. 정확한 검토를 위해 영문목차를 참고해주시기 바랍니다.

세계의 언어 서비스 시장 규모는 예측 기간(2021-2026년) 중 5.3%의 CAGR로 추이할 것으로 예측됩니다. 언어 서비스의 수요를 추진하고 있는 주요 요인은 비지니스 간 급속한 글로벌화, 컨텐츠의 디지털화 및 보다 퍼스널라이즈된 국제적인 고객 서비스의 증가 등입니다.

  • 언어 서비스의 수요는 더 이상 대규모 다국적기업에 집중하고 있지 않습니다. 중소기업, 대기업 및 기타 모든 유형의 조직을 포함한 지방자치단체 및 주정부도 번역, 통역 및 다양한 유형의 언어 서비스의 사용을 확대하고 있습니다.
  • 국제 무역은 과거 수십년간 꾸준히 확대하고 있으며, 전 세계에서 국제 무역이 사실상 폭발적으로 증가하고 있습니다. 또한 외국과의 경쟁과 다양한 정부 구상에 의해 규모에 관계없이 모든 유형의 기업이 해외 시장에서 이용 가능한 기회에 관한 구상을 취하게 되었습니다.
  • 국제 마케팅의 지속적 동향은 언어 서비스 시장의 성장을 가속할 것으로 예상됩니다. 이 서비스에 의해 기업은 웹을 통해 저비용으로 전 세계의 증가하는 오디언스에 접근할 수 있게 되었습니다. 이 오디언스는 대부분이 외국인으로 구성되어 있으므로 시장은 한층 더 성장할 것으로 예상됩니다.
  • 인터넷 이용의 증가는 컨텐츠 마케팅에 대한 동향과 함께 언어 업계에 새로운 길을 개척해 왔습니다. 외국인용 PPC 광고 및 소셜미디어 마케팅도 놀라운 기세로 확대하고 있습니다. 이것은 시장을 촉진하는 주요 요인 중 하나입니다.

언어 서비스 시장을 조사했으며, 시장 개요, 시장 성장요인 및 저해요인 분석, 서비스별·최종사용자별·지역별 시장 규모의 추이와 예측, 경쟁 구도, 주요 기업의 개요, 시장 기회 등의 정보를 정리하여 전해드립니다.

목차

제1장 서론

제2장 조사 방법

제3장 주요 요약

제4장 시장 역학

  • 시장 개요
  • 시장 촉진요인
    • 세계화의 증가
    • 온라인 및 오프라인 컨텐츠의 증가
  • 시장 억제요인
    • 첨단 번역 툴의 등장
  • Porter's Five Forces 분석
    • 신규 진출업체의 위협
    • 구매자의 교섭력/소비자의 교섭력
    • 공급 기업의 교섭력
    • 대체품의 위협
    • 경쟁 기업간 경쟁 관계

제5장 시장 세분화

  • 서비스별
    • 번역 서비스
    • 로컬리제이션 서비스
    • 통역 서비스
    • 기타 서비스
  • 최종사용자별
    • 생명과학
    • 미디어 & 엔터테인먼트
    • 법무, 재무, 특허
    • E-Commerce
    • 기타 최종사용자 업종
  • 지역별
    • 북미
    • 유럽
    • 아시아태평양
    • 라틴아메리카
    • 중동과 아프리카

제6장 경쟁 구도

  • 기업 개요
    • Atlas Language Services Inc.
    • Globe language Services Inc.
    • Lionbridge Technologies Inc.
    • RWS Holdings Plc
    • SDL Plc
    • Semantix AB
    • Summa Linguae Technologies
    • Teleperformance SE
    • TransPerfect Global Inc.
    • Welocalize Inc.

제7장 시장 기회 및 향후 전망

KSA 21.02.23

The language services market is expected to register a CAGR of 5.3% during the forecast period (2021 - 2026). The lockdown restrictions amidst the pandemic have forced the entire world to stay at home, which has given a strong impetus to the development of trade via the internet. Applications like Netflix, YouTube, Amazon Prime, and social media have witnessed a surge in the number of users. This has resulted in an increased need for more content across the globe and has served as good news for translators, owing to increased demand for their services while providing the ease to be organized remotely.

Key Highlights

  • The primary factors that are driving the demand for language services include the rapidly increasing globalization among businesses, the incremental rise of digitizing content, and the increase in customer service that's becoming more personalized and international.
  • iFlytek, a speech recognition company based out of China and providing translation services, was successful in raising USD 407 million (CNY 2.8 billion) from its investors, that includes the state-run investment fund China Reform Holdings and the Anhui Railway Development Fund. The company claims that the funding will be used to enhance the translation output along with the output of the AI translation engine. Such developments provide significant scope for market growth over the forecast period, especially for startups.
  • The demand for language services is no longer concentrated on large multinational corporations. Still, the small and large businesses, and local and state governments, including all types of other organizations, have also increased their use of translation, interpretation, and different kinds of language services.
  • International trade has been steadily expanding over the past few decades, which includes the proliferation of free trade agreements that have led to a virtual explosion of international trades across the world. Moreover, the increasing foreign competition and various government initiatives have led all kinds of businesses irrespective of size to take initiatives regarding opportunities available to them in foreign markets.
  • The ongoing trends in international marketing are also expected to accelerate the growth in the language services market. With these services, companies are now able to reach increasing audiences across the globe at a lower cost through the web. As these audiences are increasingly composed of foreign people, the market is expected to grow even further.
  • The increase in internet usage, combined with the trend toward content marketing, has opened up new avenues for the language industry. The PPC advertising and social media marketing that is aimed at foreign audiences are also expanding at remarkable rates. Social networking sites and multiple blogs that are active across the world are also providing platforms for effective content marketing that include articles, infographics, videos, and multimedia productions. All this content is localized for optimum effectiveness, which is one of the major factors driving the market.
  • Moreover, the market is witnessing multiple M&A activities by the players in order to strengthen their positions in the market. For instance, in Jan 2019, Lionbridge acquired Gengo, which is a Japanese technology and services company. In Mar 2019, Appen acquired Figure Eight, which is a machine-learning training platform, based in Silicon Valley. Also, in Nov 2019, Datawords acquired a chatbot provider base in Asia called Whatsquare.
  • The entire world now is at home which gives a strong impetus to the development of trade and entertainment on the internet. YouTube, Netflix, social media, Amazon witness a surge in the number of users. It produces the need for more content globally. It is good news for translators since their services will be in higher demand and their work is much easier to be organized remotely.
  • Another reason is the active exchange of the experience of fighting against the virus and treatment of the patients that drives the global discussion and information exchange between researchers in healthcare, virology, immunology, epidemiology, etc. So the highest demand can be expected in translators in the medical sector and the field knowledge will be most welcome.

Key Market Trends

Translation Services is Expected to Witness Significant Growth

  • Within language services, translation services play a key role in facilitating communication between users of different languages. These services encompass both spoken as well as signed communication and follow the International Standards Organization (ISO) definition that states the rendering of a spoken or signed message into another language by preserving the meaning of the source language content.
  • The growing customer outreach has enhanced the scope of translation services in order to fulfill the needs of the customers, barring language preferences. Historical data signifies that various companies are opting for translation services in order to provide comfort to their clients, both national as well as international.
  • Translation services usually require an integrated platform of cloud computing and big data analytics, so as to ensure the access of data from anywhere. This also results in increased storage capacity and more efficiency.
  • With more and more companies offering their services through the Internet, the need for websites and web content translation has grown manifold. Businesses across the world are seeking translation services with an intention to serve their customers and keep up with their demands. While individuals also are using this type of service, the share of such usage is very minimal.
  • According to the latest figures, around 300 hours of video content is being uploaded to YouTube every single minute, and around 5 billion videos are being watched on a daily basis by users. Also, around 70% of the YouTube viewers are from outside the United States and are non-English speaking people. This trend is certainly increasing the demand for video translations and localizations on a large scale.
  • The post-editing of machine translations (PEMT) is expected to be a major trend in the translation services domain during the forecast period.

North America is Expected to Witness Significant Growth

  • The language services market in the North American region is expected to witness significant growth owing to the increasing diversity in the region. As the population in the region continues to shift, and it becomes more diverse, the need for effective language services is expected to increase in all the industries across the region, and qualified translators and interpreters are crucial in serving the needs of this increasingly diverse population.
  • The advent of multicultural marketing has become a topic of importance these days, which is expected to drive the language services demand. The changing demographics of the region have made marketing strategies to diverse communities a priority for multiple businesses that previously used to rely only on a single language.
  • Moreover, according to the United States Census Bureau, there are more than 350 languages spoken in the United States. The Asian population is also rising, owing to increased immigration. New immigration trends are expanding the current language services market to serve these populations.
  • The understanding of the current language trends in their region and how they continue to shape the market and the country, help the organizations to understand the rapidly rising need for providing multicultural consumers with much more effective communication through professional language services.
  • The players in the market are looking to strengthen their competitiveness through various efforts such as multiple M&A activities, innovation of products, increased R&D, as well as an exploration of overseas markets. For instance, in April 2020, AppTek, a leader in Artificial Intelligence (AI), Machine Learning (ML), Automatic Speech Recognition (ASR), Neural Machine Translation (NMT), and Natural Language Understanding (NLU) technologies, today announced a new partnership with TransPerfect. The combined capabilities of AppTek's powerful ASR engine and TransPerfect's specialized translation and localization services will further improve customer workflows by reducing project turnaround times.

Competitive Landscape

The language services market is highly competitive owing to the presence of multiple vendors providing their services in domestic and in the international markets. The market appears to be fragmented, with the major players adopting strategies, like product innovation, and mergers and acquisitions, primarily to expand their service portfolio and to stay competitive in the market landscape. Some of the major players in the market are Atlas Language Service Inc., Lionbridge Technologies Inc., RWS Holdings Plc, and SDL Plc, among others.

  • January 2021 - Semantix and its long-term partner ESTeam were awarded the EU Commission's call for tender GROW/2020/OP/0002. The contract is for translation services associated with the technical regulations and rules on information society services laid down in Directive (EU) 2015/15351.
  • June 2020 - RSW Holdings PLC announced the acquisition of Iconic Translation Machines Ltd, with an initial investment of USD 10 million and additional deferred consideration of up to USD 10 million in the company's shares. The acquisition is anticipated to provide the company with the competitive advantage of leveraging language technology to improve its service delivery, as well as strengthen its capabilities in service offerings in the Neural Machine Translation (NMT) solutions.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

TABLE OF CONTENTS

1 INTRODUCTION

  • 1.1 Study Assumptions and Market Definition
  • 1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

  • 4.1 Market Overview
  • 4.2 Market Drivers
    • 4.2.1 Increased Global Corporate Presence
    • 4.2.2 Increase in Online and Offline Content
  • 4.3 Market Challenges
  • 4.4 Industry Attractiveness - Porter's Five Forces Analysis
    • 4.4.1 Bargaining Power of Suppliers
    • 4.4.2 Bargaining Power of Consumers
    • 4.4.3 Threat of New Entrants
    • 4.4.4 Threat of Substitutes
    • 4.4.5 Intensity of Competitive Rivalry
  • 4.5 Impact of COVID-19 on the Market

5 MARKET SEGMENTATION

  • 5.1 By Type
    • 5.1.1 Translation Services
    • 5.1.2 Localization Services
    • 5.1.3 Interpreting Services
    • 5.1.4 Other Services
  • 5.2 By End-user Vertical
    • 5.2.1 Life Sciences (Pharmaceuticals, Medical Devices, Biotechnology, CROs)
    • 5.2.2 Media and Entertainment (OTT, Games, Box Office, Pay TV)
    • 5.2.3 Legal, Finance, and Patents
    • 5.2.4 E-commerce
    • 5.2.5 Other End-user Verticals
  • 5.3 By Geography
    • 5.3.1 North America (United States, Canada)
    • 5.3.2 Europe (United Kingdom, Germany, France, Rest of Europe)
    • 5.3.3 Asia Pacific (China, Japan, Singapore, Rest of Asia Pacific)
    • 5.3.4 Latin America
    • 5.3.5 Middle East and Africa

6 COMPETITIVE INTELLIGENCE

  • 6.1 Company Profiles
    • 6.1.1 Atlas Language Services Inc.
    • 6.1.2 Globe language Services Inc.
    • 6.1.3 Lionbridge Technologies Inc.
    • 6.1.4 RWS Holdings PLC
    • 6.1.5 SDL PLC
    • 6.1.6 Semantix AB
    • 6.1.7 Summa Linguae Technologies
    • 6.1.8 Teleperformance SE
    • 6.1.9 TransPerfect Global Inc.
    • 6.1.10 Welocalize Inc.

7 INVESTMENT ANALYSIS

8 FUTURE OF THE MARKET

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