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Machine Translation Market Size, Share & Trends Analysis Report By Application (Automotive, Military & Defense, Electronics, IT, Healthcare, Others), By Technology, By Region, And Segment Forecasts, 2023 - 2030

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    Report

  • 94 Pages
  • October 2023
  • Region: Global
  • Grand View Research
  • ID: 5899472
The global machine translation market size is expected to reach USD 2,719.0 million by 2030, expanding at a CAGR of 13.5% from 2023 to 2030. The reinvention of computer-aided translational tools and growth of adaptive machine translation has considerably widened the scope of the machine translation market.

Key players are increasing their focus on developing advanced MT systems to meet growing consumer needs. For instance, Lilt Inc. has launched an adaptive neural machine translation system to use real-time feedback loop and Artificial Intelligence (AI) to boost the productivity of a human translator. Moreover, the technology is expected to offer opportunities to people for communicating and accessing information in a particular language. This system goes beyond Facebook, Inc.; Apple Inc.; and Microsoft Corporation’s product offerings.

Globalization has significantly contributed to addressing the need for linguistically diverse local audiences. Growing importance of businesses in emerging markets, creation of online content, and need for enabling global collaboration among employees is expected to drive market growth over the forecast period.

Need for organizations to localize their content in several languages to capture international markets is expected to bolster demand for MT systems. Adoption of such systems and instant web publishing requirements is further expected to improve user experience by developing multilingual engagement across different content types.

Growing importance of cloud computing has resulted in increasing demand for cloud-based translation tools. Moreover, delivery of Machine Translation Software-as-a-Service (MTSaaS) over secure cloud offerings accommodated in data centers is expected to offer considerable growth opportunities.

The convergence of Translation Memories (TM) and MT is expected to fully integrate workflows. TM store sentences and paragraphs that were previously translated to aid human translators, accelerating translation projects and reducing costs. Furthermore, the industry has gravitated toward the use of Bilingual Evaluation Understudy (BLEU) as a useful measurement of translation quality. BLEU is a method for automatic evaluation of MT, which is inexpensive and language independent.

Machine Translation Market Report Highlights

  • Existence of a large number of players and government initiatives supporting machine translation has impacted industry growth positively in U.S. Google Inc. and Microsoft Corporation have made SMT technology popular with their free online engines in the country
  • Demand for Statistical Machine Translation (SMT) has significantly increased over the past few years, due toits effectiveness over Rule-Based Machine Translation (RBMT) in terms of time and cost
  • The statistical machine translation (SMT) contributed to more than 72.5% of the overall MT market revenue
Frequently Asked Questions about the Global Machine Translation Market

What is the estimated value of the Global Machine Translation Market?

The Global Machine Translation Market was estimated to be valued at $978.2 Million in 2022.

What is the growth rate of the Global Machine Translation Market?

The growth rate of the Global Machine Translation Market is 13.5%, with an estimated value of $2719 Million by 2030.

What is the forecasted size of the Global Machine Translation Market?

The Global Machine Translation Market is estimated to be worth $2719 Million by 2030.

Who are the key companies in the Global Machine Translation Market?

Key companies in the Global Machine Translation Market include AppTek, Cloudwords Inc., IBM Corporation, Lighthouse IP, Lingo24 Limited, Lingotek, Lionbridge Technologies, LLC., RWS Holdings plc, Pangeanic and PROMT.

Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.1.1. Technology
1.1.2. Application
1.1.3. Regional scope
1.1.4. Estimates and forecast timeline
1.2. Research Methodology
1.3. Information Procurement
1.3.1. Purchased database
1.3.2. internal database
1.3.3. Secondary sources
1.3.4. Primary research
1.3.5. Details of primary research
1.4. Information or Data Analysis
1.5. Market Formulation & Validation
1.6. Model Details
1.7. List of Secondary Sources
1.8. List of Primary Sources
1.9. Objectives
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.2.1. Technology outlook
2.2.2. Application outlook
2.2.3. Regional outlook
2.3. Competitive Insights
Chapter 3. Machine Translation (MT) Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Industry Value Chain Analysis
3.3. Market Dynamics
3.3.1. Market driver analysis
3.3.2. Market restraint analysis
3.3.3. Market opportunity analysis
3.4. Machine Translation (MT) Market Analysis Tools
3.4.1. Industry analysis - Porter’s
3.4.1.1. Supplier power
3.4.1.2. Buyer power
3.4.1.3. Substitution threat
3.4.1.4. Threat of new entrant
3.4.1.5. Competitive rivalry
3.4.2. PESTEL analysis
3.4.2.1. Political landscape
3.4.2.2. Technological landscape
3.4.2.3. Economic landscape
Chapter 4. Machine Translation (MT) Market: Technology Estimates & Trend Analysis
4.1. Machine Translation (MT) Market: Key Takeaways
4.2. Machine Translation (MT) Market: Movement & Market Share Analysis, 2022 & 2030
4.3. RBMT
4.3.1. RBMT market estimates and forecasts, 2017 to 2030 (USD Million)
4.4. SMT
4.4.1. SMT market estimates and forecasts, 2017 to 2030 (USD Million)
4.5. Others
4.5.1. Others market estimates and forecasts, 2017 to 2030 (USD Million)
Chapter 5. Machine Translation (MT) Market: Application Estimates & Trend Analysis
5.1. Machine Translation (MT) Market: Key Takeaways
5.2. Machine Translation (MT) Market: Movement & Market Share Analysis, 2022 & 2030
5.3. Automotive
5.3.1. Automotive market estimates and forecasts, 2017 to 2030 (USD Million)
5.4. Military & Defense
5.4.1. Military & defense delivery market estimates and forecasts, 2017 to 2030 (USD Million)
5.5. Electronics
5.5.1. Electronics market estimates and forecasts, 2017 to 2030 (USD Million)
5.6. IT
5.6.1. IT market estimates and forecasts, 2017 to 2030 (USD Million)
5.7. Healthcare
5.7.1. Healthcare market estimates and forecasts, 2017 to 2030 (USD Million)
5.8. Others
5.8.1. Others market estimates and forecasts, 2017 to 2030 (USD Million)
Chapter 6. Machine Translation (MT) Market: Regional Estimates & Trend Analysis
6.1. Regional Outlook
6.2. Machine Translation (MT) Market by Region: Key Takeaway
6.3. North America
6.3.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
6.3.2. U.S.
6.3.2.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
6.3.3. Canada
6.3.3.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
6.4. Europe
6.4.1. UK
6.4.1.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
6.4.2. Germany
6.4.2.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
6.4.3. France
6.4.3.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
6.5. Asia Pacific
6.5.1. Japan
6.5.1.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
6.5.2. China
6.5.2.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
6.5.3. India
6.5.3.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
6.5.4. Australia
6.5.4.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
6.5.5. South Korea
6.5.5.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
6.6. Latin America
6.6.1. Brazil
6.6.1.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
6.6.2. Mexico
6.6.2.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
6.7. MEA
6.7.1. Saudi Arabia
6.7.1.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
6.7.2. South Africa
6.7.2.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
6.7.3. UAE
6.7.3.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
Chapter 7. Competitive Landscape
7.1. Recent Developments & Impact Analysis, By Key Market Participants
7.2. Market Participant Categorization
7.2.1. AppTek
7.2.1.1. Company overview
7.2.1.2. Financial performance
7.2.1.3. Product benchmarking
7.2.1.4. Strategic initiatives
7.2.2. Cloudwords Inc.
7.2.2.1. Company overview
7.2.2.2. Financial performance
7.2.2.3. Product benchmarking
7.2.2.4. Strategic initiatives
7.2.3. IBM Corporation
7.2.3.1. Company overview
7.2.3.2. Financial performance
7.2.3.3. Product benchmarking
7.2.3.4. Strategic initiatives
7.2.4. Lighthouse IP
7.2.4.1. Company overview
7.2.4.2. Financial performance
7.2.4.3. Product benchmarking
7.2.4.4. Strategic initiatives
7.2.5. Lingo24 Limited
7.2.5.1. Company overview
7.2.5.2. Financial performance
7.2.5.3. Product benchmarking
7.2.5.4. Strategic initiatives
7.2.6. Lingotek
7.2.6.1. Company overview
7.2.6.2. Financial performance
7.2.6.3. Product benchmarking
7.2.6.4. Strategic initiatives
7.2.7. Lionbridge Technologies, LLC.
7.2.7.1. Company overview
7.2.7.2. Financial performance
7.2.7.3. Product benchmarking
7.2.7.4. Strategic initiatives
7.2.8. RWS Holdings plc
7.2.8.1. Company overview
7.2.8.2. Financial performance
7.2.8.3. Product benchmarking
7.2.8.4. Strategic initiatives
7.2.9. Pangeanic
7.2.9.1. Company overview
7.2.9.2. Financial performance
7.2.9.3. Product benchmarking
7.2.9.4. Strategic initiatives
7.2.10. PROMT
7.2.10.1. Company overview
7.2.10.2. Financial performance
7.2.10.3. Product benchmarking
7.2.10.4. Strategic initiatives
7.2.11. RTX
7.2.11.1. Company overview
7.2.11.2. Financial performance
7.2.11.3. Product benchmarking
7.2.11.4. Strategic initiatives
7.2.12. Smart Communications
7.2.12.1. Company overview
7.2.12.2. Financial performance
7.2.12.3. Product benchmarking
7.2.12.4. Strategic initiatives
7.2.13. SYSTRAN
7.2.13.1. Company overview
7.2.13.2. Financial performance
7.2.13.3. Product benchmarking
7.2.13.4. Strategic initiatives
7.2.14. Welocalize
7.2.14.1. Company overview
7.2.14.2. Financial performance
7.2.14.3. Product benchmarking
7.2.14.4. Strategic initiatives
List of Tables
Table 1 List of abbreviation
Table 2 North America Machine Translation (MT) market, by technology, 2017-2030 (USD Million)
Table 3 North America Machine Translation (MT) market, by application, 2017-2030 (USD Million)
Table 4 North America Machine Translation (MT) market, by region, 2017 to 2030 (USD Million)
Table 5 U.S. Machine Translation (MT) market, by technology, 2017-2030 (USD Million)
Table 6 U.S. Machine Translation (MT) market, by application, 2017-2030 (USD Million)
Table 7 Canada Machine Translation (MT) market, by technology, 2017-2030 (USD Million)
Table 8 Canada Machine Translation (MT) market, by application, 2017-2030 (USD Million)
Table 9 Europe Machine Translation (MT) market, by technology, 2017-2030 (USD Million)
Table 10 Europe Machine Translation (MT) market, by application, 2017-2030 (USD Million)
Table 11 Europe Machine Translation (MT) market, by region, 2017 to 2030 (USD Million)
Table 12 Germany Machine Translation (MT) market, by technology, 2017-2030 (USD Million)
Table 13 Germany Machine Translation (MT) market, by application, 2017-2030 (USD Million)
Table 14 UK Machine Translation (MT) market, by technology, 2017-2030 (USD Million)
Table 15 UK Machine Translation (MT) market, by application, 2017-2030 (USD Million)
Table 16 France Machine Translation (MT) market, by technology, 2017-2030 (USD Million)
Table 17 France Machine Translation (MT) market, by application, 2017-2030 (USD Million)
Table 18 Asia Pacific Machine Translation (MT) market, by technology, 2017-2030 (USD Million)
Table 19 Asia Pacific Machine Translation (MT) market, by application, 2017-2030 (USD Million)
Table 20 Asia Pacific Machine Translation (MT) market, by region, 2017 to 2030 (USD Million)
Table 21 China Machine Translation (MT) market, by technology, 2017-2030 (USD Million)
Table 22 China Machine Translation (MT) market, by application, 2017-2030 (USD Million)
Table 23 Japan Machine Translation (MT) market, by technology, 2017-2030 (USD Million)
Table 24 Japan Machine Translation (MT) market, by application, 2017-2030 (USD Million)
Table 25 India Machine Translation (MT) market, by technology, 2017-2030 (USD Million)
Table 26 India Machine Translation (MT) market, by application, 2017-2030 (USD Million)
Table 27 Australia Machine Translation (MT) market, by technology, 2017-2030 (USD Million)
Table 28 Australia Machine Translation (MT) market, by application, 2017-2030 (USD Million)
Table 29 South Korea Machine Translation (MT) market, by technology, 2017-2030 (USD Million)
Table 30 South Korea Machine Translation (MT) market, by application, 2017-2030 (USD Million)
Table 31 Latin America Machine Translation (MT) market, by technology, 2017-2030 (USD Million)
Table 32 Latin America Machine Translation (MT) market, by application, 2017-2030 (USD Million)
Table 33 Latin America Machine Translation (MT) market, by region, 2017 to 2030 (USD Million)
Table 34 Brazil Machine Translation (MT) market, by technology, 2017-2030 (USD Million)
Table 35 Brazil Machine Translation (MT) market, by application, 2017-2030 (USD Million)
Table 36 Mexico Machine Translation (MT) market, by technology, 2017-2030 (USD Million)
Table 37 Mexico Machine Translation (MT) market, by application, 2017-2030 (USD Million)
Table 38 Middle East and Africa Machine Translation (MT) market, by technology, 2017-2030 (USD Million)
Table 39 Middle East and Africa Machine Translation (MT) market, by application, 2017-2030 (USD Million)
Table 40 Middle East and Africa Machine Translation (MT) market, by region, 2017 to 2030 (USD Million)
Table 41 South Africa Machine Translation (MT) market, by technology, 2017-2030 (USD Million)
Table 42 South Africa Machine Translation (MT) market, by application, 2017-2030 (USD Million)
Table 43 Saudi Arabia Machine Translation (MT) market, by technology, 2017-2030 (USD Million)
Table 44 Saudi Arabia Machine Translation (MT) market, by application, 2017-2030 (USD Million)
Table 45 UAE Machine Translation (MT) market, by technology, 2017-2030 (USD Million)
Table 46 UAE Machine Translation (MT) market, by application, 2017-2030 (USD Million)
List of Figures
Fig. 1 Market research process
Fig. 2 Data triangulation techniques
Fig. 3 Primary research pattern
Fig. 4 Market research approaches
Fig. 5 Value-chain-based sizing & forecasting
Fig. 6 QFD modeling for market share assessment
Fig. 7 Market formulation & validation
Fig. 8 Machine Translation (MT): Market outlook
Fig. 9 Machine Translation (MT): Competitive insights
Fig. 10 Parent market outlook
Fig. 11 Related/ancillary market outlook
Fig. 12 Penetration and growth prospect mapping
Fig. 13 Industry value chain analysis
Fig. 14 Machine translation (MT) market driver impact
Fig. 15 Machine translation (MT) market restraint impact
Fig. 16 Machine translation (MT) market strategic initiatives analysis
Fig. 17 Machine translation (MT) market: Technology movement analysis
Fig. 18 Machine translation (MT) market: Technology outlook and key takeaways
Fig. 19 RBMT market estimates and forecasts, 2017-2030
Fig. 20 SMT market estimates and forecasts, 2017-2030
Fig. 21 Others market estimates and forecasts, 2017-2030
Fig. 22 Machine translation (MT) market: Application movement analysis
Fig. 23 Machine translation (MT) market: Application outlook and key takeaways
Fig. 24 Automotive market estimates and forecasts, 2017-2030
Fig. 25 Military & defense market estimates and forecasts, 2017-2030
Fig. 26 Electronics market estimates and forecasts, 2017-2030
Fig. 27 IT market estimates and forecasts, 2017-2030
Fig. 28 Healthcare market estimates and forecasts, 2017-2030
Fig. 29 Others market estimates and forecasts, 2017-2030
Fig. 30 Global Machine Translation (MT) market: Regional movement analysis
Fig. 31 Global Machine Translation (MT) market: Regional outlook and key takeaways
Fig. 32 North America market estimates and forecasts, 2017-2030
Fig. 33 U.S. market estimates and forecasts, 2017-2030
Fig. 34 Canada market estimates and forecasts, 2017-2030
Fig. 35 Europe market estimates and forecasts, 2017-2030
Fig. 36 UK market estimates and forecasts, 2017-2030
Fig. 37 Germany market estimates and forecasts, 2017-2030
Fig. 38 France market estimates and forecasts, 2017-2030
Fig. 39 Asia Pacific market estimates and forecasts, 2017-2030
Fig. 40 Japan market estimates and forecasts, 2017-2030
Fig. 41 China market estimates and forecasts, 2017-2030
Fig. 42 India market estimates and forecasts, 2017-2030
Fig. 43 Australia market estimates and forecasts, 2017-2030
Fig. 44 South Korea market estimates and forecasts, 2017-2030
Fig. 45 Latin America market estimates and forecasts, 2017-2030
Fig. 46 Brazil market estimates and forecasts, 2017-2030
Fig. 47 Mexico market estimates and forecasts, 2017-2030
Fig. 48 Middle East and Africa market estimates and forecasts, 2017-2030
Fig. 49 Saudi Arabia market estimates and forecasts, 2017-2030
Fig. 50 South Africa market estimates and forecasts, 2017-2030
Fig. 51 UAE market estimates and forecasts, 2017-2030

Companies Mentioned

  • AppTek
  • Cloudwords Inc.
  • IBM Corporation
  • Lighthouse IP
  • Lingo24 Limited
  • Lingotek
  • Lionbridge Technologies, LLC.
  • RWS Holdings plc
  • Pangeanic
  • PROMT
  • RTX
  • Smart Communications
  • SYSTRAN
  • Welocalize

Methodology

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