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Translation Management Systems (TMS) Market Share

Report ID: GMI8586
Published Date: Mar 2024
Report Format: PDF

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Translation Management Systems Market Share

Localize Corporation and TransPerfect held a significant share of over 20% the translation management systems industry in 2023. Localize Corporation offers cutting-edge software solutions to clients across the globe. Their platform provides an entire array of translation and localization services such as website and software localization, document translation and multimedia content translation.

TransPerfect offers comprehensive language services and technology solutions. Their TMS is designed to help them manage multiple translation projects at once; its features include workflow automation, linguistic tools, and integration capabilities.

Translation Management Systems Market Companies

Major companies operating in the translation management systems industry are:

Localize Corporation
TransPerfect
Lionbridge
Translate Plus
Microsoft
Google LLC
Babylon Software

Authors: Suraj Gujar, Sandeep Ugale

Frequently Asked Questions (FAQ) :

The market size of translation management systems (TMS) reached USD 2 billion in 2023 and is set to witness 18% CAGR between 2024 and 2032, led by rising usage of social media, e-commerce, and digital marketing.

Software segment of translation management systems industry held the largest revenue share of over 66% in 2023, fueled by the demand for efficient and effective translation software in a globalized world.

Asia Pacific market held a revenue share of over 29% in 2023, driven by a surge in digital platforms and internet use that have facilitated cross-border communications and commercialization necessitating an effective mode of translation.

Localize Corporation, TransPerfect, Lionbridge, Translate Plus, Microsoft, Google LLC, Babylon Software are some of the major industry contenders.