Frost Radar™: Translation Management Systems, 2024

Frost Radar™: Translation Management Systems, 2024

A Benchmarking System to Spark Companies to Action - Innovation that Fuels New Deal Flow and Growth Pipelines

The Frost Radar™ of the translation management systems (TMS) industry analyzes providers that help companies and organizations streamline, manage, localize, and optimize the complex process involved in translating content into multiple languages.

Systems often include project management, translation memory, terminology management, vendor management, collaboration and communication tools, quality assurance tools, automation and artificial intelligence, reporting and analytics, integration capabilities, security and compliance, customization options, and user management and access control.

This analysis offers a perspective of industry trends and an assessment of 12 growth and innovation leaders. It plots selected providers based on 10 qualitative and quantitative factors.

The vertical Growth Index is a measure of a company's growth performance and track record, along with its ability to develop and execute a fully aligned growth strategy and vision, a robust growth pipeline system, and effective sales and marketing strategies. To measure growth performance and track record, Frost & Sullivan considered each company’s TMS-related revenue for 2020, 2021, 2022, and 2023.

The Innovation Index is a measure of a company's ability to develop offerings/features/services/solutions (with a clear understanding of disruptive megatrends) that are globally applicable, extensible, pertinent to multiple markets, and aligned with customers' changing needs.

The following are inclusion criteria for TMS providers: a focus on localization to streamline, automate, and improve the efficiency of the process; the offering of cloud-based or software-as-a-service solutions, centralized project management, general integration capabilities, various security measures, reporting and analytics, and vendor management; the inclusion of AI and machine translation integration to automate features, collaboration and communication tools, translation memory and terminology management, and quality assurance tools; support for a wide variety of file formats to handle different types of content; an emphasis on user-friendly interfaces; and revenue of at least $6 million in calendar year 2023.

Frost & Sullivan analyzes numerous companies in an industry. Those selected for further analysis based on their leadership or other distinctions are benchmarked across 10 Growth and Innovation criteria to generate their position on the Frost Radar™. The publication presents competitive profiles of each company on the Frost Radar™, considering their strengths and the opportunities that best fit those strengths.