Machine Translation Market 2019-2025

Global Machine Translation Market Size, Share & Trends Analysis Report by Technology (Statistical Machine Translation, Rule-based Machine Translation, and Others), By End-User (Automotive, IT & Telecommunication, Healthcare, Military & Defense, and Others), and Forecast 2019-2025.

The global machine translation market is anticipated to grow at a significant CAGR during the forecast period. Machine translation is the process in which computer software is used to translate a text from one natural language to another. One of the major factors driving the growth of machine translation includes the globalization of key industries, which in turn, has created opportunities for the provision of machine translation as a service. In addition, the increasing number of Internet users across the globe has increased the demand for cross-cultural interaction of content over the web. The necessity for such social interaction has enhanced the demand for modernization in machine translation services.

The global machine translation market is segmented on the basis of technology and end-user. Based on technology, the market is sub-segmented into statistical machine translation, rule-based machine translation, and others. Based on the end-user, the market is sub-segmented into automotive, IT & telecommunication, healthcare, military & defense, and others. The automotive industry is exploring new ways to deliver performance as well as to implement software that can be updated regularly to enter mainstream usage in cars, for instance, Tesla, Inc. is using such conveniences in its cars.

Geographically, the study of the global machine translation market report covers the analysis of four major regions including North America (the US and Canada), Europe (UK, Germany, Italy, Spain, France, and Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), and the Rest of the World. Asia-Pacific is projected to show significant growth in the market during the forecast period. The growth of the Asia-Pacific machine translation market is owing to the region’s rising prominence as a hub for the major organization establishments which has significantly contributed to addressing the need for linguistically diverse creation of online content and collaboration among employees of a different region.

Moreover, the study of the global machine translation market report covers the analysis of various players operating in the market. Some of the key players covered in the report include Google LLC, IBM Corp., Microsoft Corp., SDL PLC, Lionbridge Technologies Inc., Venga Global, and others. The market players are considerably contributing to the market growth by adopting various strategies including new product launch, mergers and acquisitions, and collaborations to stay competitive in the market. For instance, in June 2019, SDL Plc announced the launch of its latest machine translation innovation. This innovation will come with the addition of new adaptable language pairs to SDL machine translation, enabling brands to tune their language pairs to any project, department, or industry. This innovation will also give its customers the control, privacy, and freedom that is required to create their proprietary language pairs by adapting existing ones.

Research Methodology

The market study of the global machine translation market is incorporated by extensive primary and secondary research. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. The team collects facts and data related to the market from different geography to provide a better regional outlook.

In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables the analyst to derive the closest possible figures without any major deviations in the actual number. The analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to the reports.

Secondary Sources Include:

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report is intended for the major industry players, IT companies, software vendors, system integrators, investing companies, and other market participants for overall market analysis, and competitive analysis. The report provides an in-depth analysis of market size, products offered by the company, and future market opportunities. The report will serve as a source for a 360-degree analysis of the market delivering insights into the market for making better business decisions.

Market Segmentation:

1. Global Machine Translation Market Research and Analysis by Technology
2. Global Machine Translation Market Research and Analysis by End-User

The Report Covers

• Comprehensive research methodology of the machine translation market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the machine translation market.
• Insights about market determinants which are stimulating the machine translation market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.