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Translation Management Systems Market worth $5.7 billion by 2030 – Exclusive Report by MarketsandMarkets™

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CHICAGO, Feb. 19, 2024 /PRNewswire/ — More integration of AI and machine learning, support for multimodal translation, customisation, and cloud-based solutions are anticipated developments in the translation management systems market in the future. Key themes propelling innovation and industry expansion will also include data security, analytics capabilities, and collaboration tools.

The Translation Management Systems Market is set to experience rapid growth, projected to surge from USD 2.2 billion in 2024 to USD 5.7 billion by 2030, at a CAGR of 17.2% during the forecast period of 2024–2030, according to a new report by MarketsandMarkets™. The proliferation of digital content across various platforms such as websites, mobile apps, social media, and e-commerce platforms and advancements in natural language processing (NLP), machine learning, and artificial intelligence (AI) are driving forces propelling the Translation Management Systems Market forward. Translation management systems leverage these technologies to automate translation workflows, improve translation quality, and reduce turnaround times.

Browse in-depth TOC on “Translation Management Systems Market”

350 – Tables
70 – Figures
450 – Pages

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Scope of the Report

Report Metrics 

Details

Market size available for years

2018–2030

Base year considered

2023

Forecast period

2024–2030

Forecast units

USD (Million)

Segments covered

Offering, Content Type, Application, Business Function, Vertical, and Region

Geographies covered

North America, Europe, Asia Pacific, Middle East & Africa, and Latin America

Companies covered

TransPerfect (US), RWS Group (UK), LanguageLine Solutions (US), Lionbridge (US), Acolad Group (France), Welocalize (US), Translate Plus (UK), Microsoft (US), Google (US), AWS (US), Smartling (US), XTM International (UK), Star Group (Switzerland), memoQ (Hungary), Transifex (US), Oracle (US), Centific (US), and SAP (Germany), Across Systems (Germany), Phrase (Germany), Toppan Digital Language Ltd (UK), Wordbee (Luxembourg), Babylon Software LTD (Israel), Corwdin (Estonia), DeepL (Germany), United Language Group (US), CQ Fluency (US), Lokalise (US), Weglot (France), Smartcat (US), Unbabel (US), Localize (US), and Wordfast (US)

By software, translation software segment to register the largest market share during the forecast period

The rapid advancements in translation technology, including machine translation (MT) and natural language processing (NLP), have significantly enhanced the accuracy and efficiency of automated translation software. The scalability and cost-effectiveness of translation software make it an attractive solution for businesses of all sizes. Unlike traditional human-based translation services, which can be time-consuming and costly, translation software offers a scalable solution that can handle large volumes of content at a fraction of the cost. The growing demand for real-time translation solutions in today’s fast-paced business environment is driving the adoption of translation software. With the increasing need for instant communication and content localization across various digital platforms, businesses require agile translation solutions that can deliver timely and accurate translations on demand.

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By business function, legal business function segment is poised for the fastest growth rate during the forecast period

Globalization has significantly expanded the reach of legal services, leading law firms and legal departments of corporations to handle cases and transactions involving multiple languages and jurisdictions. Regulatory compliance requirements are becoming increasingly stringent, especially in sectors such as finance, healthcare, and intellectual property, where legal documents must be translated into multiple languages to meet international standards and local regulations. Additionally, the rise of cross-border mergers and acquisitions, international trade agreements, and global litigation cases further drives the growth for translation services within the legal domain.

By region, Asia Pacific to account for highest growth rate during forecast period

The Asia Pacific region leads as the fastest-growing segment in the Translation Management Systems Market, fueled by factors such as the burgeoning e-commerce landscape in Asia Pacific which is driving the need for localized content to cater to culturally diverse audiences. With the exponential growth of online platforms, businesses are increasingly recognizing the importance of adapting their content to the language preferences and cultural sensitivities of their target markets. Furthermore, government initiatives promoting digitalization and international trade are fueling the adoption of translation management systems solutions in Asia Pacific.

Top Key Companies in Translation Management Systems Market:

Some major players in the Translation Management Systems Market include include TransPerfect (US), RWS Group (UK), LanguageLine Solutions (US), Acolad Group (France), and Welocalize (US) along with startups and SMEs such as Phrase (Germany), Lokalise (US), Crowdin (Estonia), Smartcat (US), and Unbabel (US).

Recent Developments:

In January 2024, Bosch Brazil partnered with Oracle to harness Oracle Digital Assistant’s (ODA) multilingual capabilities. The partnership demonstrates the power of integrating technologies such as artificial intelligence and customer service. Bosch selected ODA because of its versatility in generating and understanding not only responses in different languages, but also its ability to generate speech in multiple languages.In January 2024, Acolad expanded its already extensive solutions and technology portfolio through the introduction of its artificial intelligence powered solution – AI voice-over. The new solution ensures impactful synthetic voice-over and dubbing by combining the latest speech synthesis technology and high-quality resources.In January 2024, OneMeta partnered with Microsoft to introduce its AI-powered translation and transcription Verbum service to Microsoft Teams. OneMeta’s Verbum software translates and transcribes in over 140 languages and has now reached Microsoft IP Co-sell Ready StatusIn December 2023, Google partnered with Welocalize to evaluate its adaptive translation LLM solution. Welocalize, in partnership with Google, conducted a case study to evaluate the effectiveness of Google’s adaptive translation LLM solution.In December 2023, RWS Group announced the acquisition of Dublin-based Propylon Holdings Limited (Propylon), a provider of content creation, management, and publishing solutions for the government, legal, assurance, audit, and publishing industries.In October 2023, with the aim of strengthening support for all major Indian languages, Microsoft India announced the addition of four new languages: Bhojpuri, Bodo, Dogri, and Kashmiri, to Microsoft Translator. With this latest release, Microsoft Translator now supports a total of 20 Indian languages, including Assamese, Bengali, Gujarati, Hindi, Kannada, Konkani, Maithili, Malayalam, Marathi, Nepali, Odia, Punjabi, Sindhi, Tamil, Telugu, and Urdu. This brings Microsoft Translator a step closer to its goal of supporting all 22 official Indian languages and now covers the languages spoken by almost 95% of the country’s population.In June 2023, Welocalize, a pioneer of tech enablement within language services, announced the launch of its newest innovation: TranslationRate, a plugin for ChatGPT. A first in OpenAI’s plugin store for ChatGPT, the new tool allows users to gain insight into the quality of text translations provided by the language model or input by users.In May 2023, LanguageLine Solutions announced its new partnership with Vibe Health by eVideon, the leader in hospital smart room technology and digital workflow solutions. Through the partnership, Vibe Health and LanguageLine are expanding access to interpreter services at the patient’s bedside.

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Translation Management Systems Market Advantages:

By automating and streamlining translation procedures, TMS lowers human labour requirements, accelerates project turnaround times, and increases overall project management efficiency.Translation materials including glossaries, style guides, and translation memories are centralised by TMS, allowing for terminology and language consistency across several projects and languages.Translation management systems (TMS) offer linguistic validation, automated checks, and review workflows as quality assurance tools to guarantee high-quality translations that adhere to language and quality standards.TMS maintains performance and dependability while scaling to meet expanding translation demands and supporting massive amounts of content, numerous languages, and a variety of file formats.TMS saves money for businesses who manage internal translation teams or outsource translation services by streamlining translation processes, cutting project overhead, and getting rid of redundant work.With the help of TMS’s reporting, progress tracking, and visibility into translation projects, project managers can keep an eye on output, manage resources wisely, and make informed decisions.To match the unique requirements and preferences of businesses and translation teams, TMS provides customisation options to modify workflows, user interfaces, and capabilities.

Report Objectives

To define, describe, and predict the Translation Management Systems Market by offering (software and services), application, content type, business function, vertical, and regionTo provide detailed information related to major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the market growthTo analyze the micro markets with respect to individual growth trends, prospects, and their contribution to the total marketTo analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the Translation Management Systems MarketTo analyze opportunities in the market and provide details of the competitive landscape for stakeholders and market leadersTo forecast the market size of segments for five main regions: North America, Europe, Asia Pacific, Middle East Africa, and Latin AmericaTo profile key players and comprehensively analyze their market rankings and core competencies.To analyze competitive developments, such as partnerships, new product launches, and mergers and acquisitions, in the Translation Management Systems MarketTo analyze the impact of recession across all the regions across the Translation Management Systems Market

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Complete Genomics Highlights Innovation with Expanded Multi-Omics and Spatial Transcriptomics Applications at ASHG 2024

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DENVER, Nov. 4, 2024 /PRNewswire/ — At the American Society of Human Genetics (ASHG) Annual Meeting (Nov. 5-9, 2024), Complete Genomics, a pioneering genomic sequencing company, will highlight an expanded application menu and broader market adoption of its flagship sequencer DNBSEQ-T7 ™ and a series of product launches and new innovations.

Over the last year, Complete Genomics’ flagship sequencer, DNBSEQ-T7 has gained more adoption in the market for its flexibility, catering to the industry trend of sequencing more modalities (multi-omics from DNA/RNA to protein), at a lower cost and higher resolution (from bulk to single cell and spatial omics), through an expanded menu of applications to enable human genetics research using DNBSEQ CompleteWGS, spatial transcriptomics, proteomics, and single cell sequencing.

“Aligning with the industry’s demand to rapidly provide more data at a lower cost point, in 2024, our flagship high throughput sequencer, DNBSEQ-T7, gained good traction in the high throughput sequencing market,” said Rob Tarbox, VP of Product and Marketing at Complete Genomics.

At Booth #745, ASHG attendees can learn about whole genome sequencing (WGS) and spatial solutions, product highlights, new technology innovations, sequencing product demos, a menu of sequencing applications. To learn more and add the full program of speakers to your calendar, visit completegenomics.com/ASHG2024.

Complete Genomics will highlight the following product innovations:

DNBSEQ-G400RS FluoXpert: This new multifunctional sequencer merges high-throughput sequencing with multiplex immunofluorescence (mIF), enabling in vivo spatial protein detection and seamless multi-omics analysis for both DNA/RNA and protein data within one system.DNBSEQ-G800: A versatile benchtop sequencer designed for exceptional accuracy and extended read lengths enabling Q40 accuracy and single-end reads of 600 bp and beyond, it delivers the longest single read among short-read sequencers, powered by CoolMPS technology for improved variant calling for a range of demanding applications.DNBelab-D4 Digital Sample Preparation System: A portable, fully automated system for preparing libraries from DNA or RNA samples to DNA Nanoballs (DNBs) in about 2.5-3.5 hours. This enclosed system minimizes contamination and accelerates turnaround, making it ideal for metagenomics, targeted sequencing, whole genome sequencing and converting third-party libraries for DNBSEQ compatibility.DNBSEQ-G99 – Delivering Q40 data quality for a broad swath of sequencing applications, with two independent flow cells for up to 48 Gb in less than 12 hours for PE150 (from loading to FASTQ), or 96 Gb in 30 hours for PE300.Spatial transcriptomics – New agreement to be the exclusive distributor of STOmics products in the U.S. STOmics, which specializes in solutions for spatial multi-omics through an advanced spatiotemporal multi-omics platform, is differentiated with unbiased, high resolution, species agnostic, large field of view multi-omics solutions. Researchers interested in incorporating spatial transcriptomics into their research can apply to two targeted tracks of the Complete Genomics Spatial Xcellerator grant program.CompleteWGS – A comprehensive workflow solution that provides increased genomic coverage, improved sequencing of challenging genes, and haplotype phasing. The solution enables labs to routinely sequence genomes yielding high quality, comprehensive data in a cost-effective and scalable manner. The approach is powered by the proven accuracy of DNBSEQ sequencing technology.

Here are the highlighted expert talks that Complete Genomics will host at ASHG 2024:

CoLab: Wednesday, Nov. 6, 9:45 a.m. – 10:15 a.m., CoLab Theater 3

Speaker: Joe Yeong, MD, Ph.D., FRCPath (UK), Group Leader, IMCB, A*STAR, Division of Pathology, Singapore General Hospital

Topic: Unlocking True Spatial Multi-Omics (DNA-RNA-Protein) with GoSpatial, Stereo-seq, and FluoXpert: When 1 + 1 > 2

Industry Workshop: Thursday, Nov. 7, 12:00 – 1:00 p.m., Room 105, Denver Convention Center

Michael Snyder, Ph.D. – Director, Center for Genomics and Personalized Medicine, Stanford UniversityTopic: Cutting Edge Omics Discovery by DNBSEQ™ TechnologyGang Wu, Ph.D. – Director, Center for Applied Bioinformatics, St. Jude Children’s Research HospitalTopic: Using Linked-read Sequencing to Dissect Complex Rearrangements in Extrachromosomal DNASky Lee, Ph.D. – Associate Director, Genomics Shared Resource, University of Colorado AnschutzTopic: $350 Human WGS from Sample to Result with DNBSEQ-T7 Platform

Exploring Spatial Omics: Dinner & Workshop, Thursday, Nov. 7, 7:00 – 9:30 p.m., Capitol Five, Hyatt Regency

Speakers:

Yongfu Wang, Ph.D., Sr. Manager, Field & Sales Support for STOmics
Complete Genomics

Topic: Mapping the Future Omics: Stereo-seq for Single-cell Spatial Whole Transcriptome Profiling for Diverse Biological Applications

Hui Shen, Ph.D. Professor, Associate Director, Tulane Center for Biomedical Informatics and Genomics, Deming Department of Medicine, School of Medicine, Tulane University

Topic: Spatial Transcriptomic Analysis of Alzheimer’s Disease Using Stereo-seq

About Complete Genomics

Complete Genomics is a pioneering life sciences company that provides novel, end to end DNA sequencing solutions. It has been at the forefront of high throughput, cost-effective sequencing technology development since its inception in 2005. Our products have powered over 9,400 publications across a wide array of applications. To learn more, visit www.completegenomics.com.

* For Research Use Only. Not for use in diagnostic procedures.

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SOURCE Complete Genomics

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goeasy Ltd. Announces Closing of US$400 Million and C$150 Million Offering of Senior Unsecured Notes

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MISSISSAUGA, ON, Nov. 4, 2024 /CNW/ – goeasy Ltd. (TSX: GSY) (“goeasy” or the “Company”), one of Canada’s leading consumer lenders focused on delivering a full suite of financial services to Canadians with non-prime credit, is pleased to announce that it closed its previously announced offering of US$400 million aggregate principal amount of 6.875% senior unsecured notes due 2030 (the “USD Notes”), which was upsized from US$350 million at the initial time of offering, and C$150 million aggregate principal amount of 6.000% senior unsecured notes due 2030 (the “CAD Notes”, and together with the USD Notes, the “Notes”).

In connection with the offering of the USD Notes, goeasy also entered into a currency swap agreement (the “Currency Swap”) to reduce the Canadian dollar equivalent cost of borrowing of the USD Notes to 5.977% per annum. goeasy intends to use the net proceeds from the sale of the Notes to fund the previously announced, and now expired, cash tender offer (the “Tender Offer”) to purchase any and all of its outstanding 4.375% senior unsecured notes due 2026 (the “2026 Notes”), partially repay indebtedness under its secured facilities and for general corporate purposes. This press release shall not constitute an offer to purchase any of the 2026 Notes.

“We are pleased to announce the closing of our unsecured notes offering, including our inaugural Canadian dollar denominated issuance, highlighting the confidence in our business,” said Hal Khouri, goeasy’s Executive Vice President & Chief Financial Officer, “The Canadian dollar equivalent cost of borrowing of the USD Notes at 5.977% per annum is down from 6.38% per annum at our last notes offering in July. This financing increases our total funding capacity to C$1.8 billion to support our organic growth plans.”

About goeasy

goeasy Ltd. is a Canadian company, headquartered in Mississauga, Ontario, that provides non-prime leasing and lending services through its easyhome, easyfinancial and LendCare brands. Supported by over 2,500 employees, the Company offers a wide variety of financial products and services including unsecured and secured instalment loans, merchant financing through a variety of verticals and lease-to-own merchandise. Customers can transact seamlessly through an omnichannel model that includes online and mobile platforms, over 400 locations across Canada, and point-of-sale financing offered in the retail, powersports, automotive, home improvement and healthcare verticals, through over 10,300 merchant partners across Canada. Throughout the Company’s history, it has acquired and organically served over 1.4 million Canadians and originated over C$14.3 billion in loans.

Accredited by the Better Business Bureau, goeasy is the proud recipient of several awards in recognition of its exceptional culture and continued business growth including 2024 Best Workplaces™ in Financial Services & Insurance, Waterstone Canada’s Most Admired Corporate Cultures, ranking on the 2022 Report on Business Women Lead Here executive gender diversity benchmark, placing on the Report on Business ranking of Canada’s Top Growing Companies, ranking on the TSX30, Greater Toronto Top Employers Award and has been certified as a Great Place to Work®. The Company is represented by a diverse group of team members from over 70 nationalities who believe strongly in giving back to communities in which it operates. To date, goeasy has raised and donated over C$5.8 million to support its long-standing partnerships with BGC Canada and many other local charities. In 2023, the Company announced a 3-year, C$1.4 million commitment to BGC Canada’s Food Fund.

goeasy Ltd.’s. common shares are listed on the TSX under the trading symbol “GSY”. 

Forward-Looking Statements

This press release includes forward-looking statements about goeasy, including, but not limited to, its business operations, strategy and expected financial performance and condition. Forward-looking statements include, but are not limited to, statements with respect to the expectations regarding the use of net proceeds of the Notes offering, the effect of the Currency Swap and the repurchase of the 2026 Notes pursuant to the Tender Offer. In certain cases, forward-looking statements that are predictive in nature, depend upon or refer to future events or conditions, and/or can be identified by the use of words such as “expect”, “continue”, “anticipate”, “intend”, “aim”, “plan”, “believe”, “budget”, “estimate”, “forecast”, “foresee”, “target” or negative versions thereof and similar expressions, and/or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.

Forward-looking statements are based on certain factors and assumptions, including expected growth, results of operations and business prospects and are inherently subject to, among other things, risks, uncertainties and assumptions about the Company’s operations, economic factors and the industry generally. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events could differ materially from those expressed or implied by forward-looking statements made by the Company. Some important factors that could cause actual results to differ materially from those expressed in the forward-looking statements include, but are not limited to, goeasy’s ability to enter into new lease and/or financing agreements, collect on existing lease and/or financing agreements, open new locations on favourable terms, offer products which appeal to customers at a competitive rate, respond to changes in legislation, react to uncertainties related to regulatory action, raise capital under favourable terms, compete, manage the impact of litigation (including shareholder litigation), control costs at all levels of the organization and maintain and enhance the system of internal controls.

The Company cautions that the foregoing list is not exhaustive. These and other factors could cause actual results to differ materially from our expectations expressed in the forward-looking statements, and further details and descriptions of these and other factors are disclosed in the Company’s Management’s Discussion and Analysis, including under the section entitled “Risk Factors”. The reader is cautioned to consider these, and other factors carefully and not to place undue reliance on forward-looking statements, which may not be appropriate for other purposes. The Company is under no obligation (and expressly disclaims any such obligation) to update or alter the forward-looking statements whether as a result of new information, future events or otherwise, unless required by law.

SOURCE goeasy Ltd.

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dotCMS Hosts dotConnect24 Virtual Event, Connecting Digital Content & Experience Experts

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dotCMS, a leading Universal CMS solution, is hosting dotConnect24, a free virtual event on November 12 & 13, designed for marketing, development, and IT professionals. Attendees will explore the latest in multi-tenant content management, AI-driven workflows, and other cutting-edge digital experience topics to build a future-proof content strategy for 2025.

MIAMI, Nov. 4, 2024 /PRNewswire-PRWeb/ — dotCMS, the leading Universal CMS, will host dotConnect24, a virtual event happening November 12 & 13. This event invites marketing, development, and IT professionals to explore advanced CMS solutions and network with industry experts.

“dotConnect24 will give attendees the tools and knowledge to transform their digital strategies in meaningful ways.” – Inna Bosenko, VP of Marketing, dotCMS

dotConnect24 will feature presentations and panels from key dotCMS leaders, including Preston So, VP of Product, Freddy Montes, Technical Product Manager & Lead Frontend Developer, and Will Ezell, Co-Founder and CTO. They’ll be joined by thought leaders from Total Expert, Refine Labs, World Travel Holdings, GitBook, DEPT, Botify, and many others, presenting insights on modern digital content strategies, CMS advancements, brand development and consistency, multi-tenancy, and AI-driven content workflows.

“This event unites industry visionaries, innovators, and practitioners to dive deep into transformative solutions that empower technical and editorial teams to streamline content management and elevate digital experiences across every channel,” said Inna Bosenko, VP of Marketing at dotCMS. “dotConnect24 will give attendees the tools and knowledge to transform their digital strategies in meaningful ways.”

The event will also showcase an on-demand session from dotCMS’s Universal CMS Summit held earlier this year, and all registered attendees will receive access to this content for further learning and implementation.

Media Contact

Inna Bosenko, dotCMS, +1-305-900-2001, marketing@dotcms.com, dotCMS.com

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SOURCE dotCMS

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