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Language translation NLP - Japan

Japan
  • The market size in the Language translation NLP market is projected to reach US$307.50m in 2024.
  • The market size is expected to show an annual growth rate (CAGR 2024-2030) of 25.79%, resulting in a market volume of US$1.22bn by 2030.
  • In global comparison, the largest market size will be United States (US$1.85bn in 2024).

Definition:
The Language Translation Natural Language Processing (NLP) market covers/encompasses applications that convey the meaning/content of a text from one language into another language and includes systems that can understand the nuances of different languages and accurately translate them into other languages. The Language Translation NLP market has relevance for the areas of e-commerce, travel and tourism, and international business.

Additional Information:

The market comprises two key performance indicators: market sizes and market sizes by industry. Market sizes are generated by the funding amount of Computer Vision companies. Key players of the market include companies such as Google Cloud Translation, Amazon Translate, and DeepL.

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In-Scope

  • Translation software tools that can provide immediate translations for businesses
  • Speech translation tools that can provide translations of speeches in real time (e.g., at conferences)
  • Personal communication tools that can provide translations for individuals.

Out-Of-Scope

  • Literary translation tools (e.g., for books) and legal translation tools (e.g., for contracts).
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    Value

    Notes: The chart “Comparable Estimates” shows the forecasted development of the selected market from different sources. Please see the additional information for methodology and publication date.

    Most recent update: Mar 2024

    Market Size

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Mar 2024

    Source: Statista Market Insights

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Mar 2024

    Source: Statista Market Insights

    Analyst Opinion

    The NLP market in Japan is experiencing mild growth, driven by factors such as increasing adoption of AI technologies, growing awareness of language translation, and the convenience of online services. These factors are contributing to the overall growth of the Artificial Intelligence market in Japan, making it a promising industry for the future.

    Customer preferences:     In Japan, the Language translation NLP Market of the Natural Language Processing Market within the Artificial Intelligence Market is seeing a growing demand for AI-powered translation services. This can be attributed to the increasing globalization and cross-cultural communication in the country. Additionally, there is a rising preference for accurate and efficient language translation solutions, driven by the country's diverse linguistic landscape. This trend is also fueled by the need for seamless communication with international partners and clients.

    Trends in the market:     In Japan, the Language translation NLP Market is experiencing a surge in demand for AI-powered translation services, driven by the growing need for accurate and efficient translation solutions in various industries. This trend is expected to continue as Japan aims to boost its global competitiveness and increase its global presence. Additionally, the implementation of AI in language translation is expected to lead to improved translation quality and faster turnaround times, making it an attractive option for businesses and individuals alike. However, there may be potential challenges such as privacy concerns and the need for continuous updates and improvements to keep up with the evolving language landscape.

    Local special circumstances:     In Japan, the Language translation NLP Market of the Natural Language Processing Market within the Artificial Intelligence Market is experiencing rapid growth due to the country's unique regulatory landscape. The government's strict data protection laws and cultural emphasis on privacy have led to the development of secure and accurate translation solutions. Additionally, the aging population and increasing international business partnerships have created a high demand for advanced language translation technology. These local factors have greatly influenced the market dynamics, leading to the emergence of innovative and specialized NLP solutions for the Japanese market.

    Underlying macroeconomic factors:     The Language translation NLP Market of the Natural Language Processing Market within the Artificial Intelligence Market is greatly impacted by macroeconomic factors in Japan. The country's strong economic health and supportive fiscal policies have contributed to a favorable market environment for NLP technology. Additionally, Japan's heavy investment in technology and innovation has fueled the growth of the AI market, including NLP, making it one of the leading countries in this space. Furthermore, the increasing demand for multilingual communication and the growing global presence of Japanese businesses have also driven the demand for NLP solutions in language translation.

    Global Comparison

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Mar 2024

    Source: Statista Market Insights

    Methodology

    Data coverage: The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the funding values from different industries for the market.

    Modeling approach / Market size:Market sizes are determined through a top-down approach with a bottom-up validation, building on a specific rationale for each market. As a basis for evaluating markets, we use annual financial reports, funding data, and third-party data. In addition, we use relevant key market indicators and data from country-specific associations such as GDP, number of internet users, number of secure internet servers, and internet penetration. This data helps us estimate the market size for each country individually.

    Forecasts:In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited to forecast digital products and services due to the non-linear growth of technology adoption. The main drivers are the level of digitalization, the number of secure internet servers, and the revenue of the Public Cloud market.

    Additional Notes: The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russian-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the market is updated on an ad-hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Data from the Statista Consumer Insights Global survey is weighted for representativeness.

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    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

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