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The machine translation market is forecasted to grow by USD 1.49 billion during 2024-2029, accelerating at a CAGR of 16.6% during the forecast period. The report on the machine translation market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.Speak directly to the analyst to clarify any post sales queries you may have.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increasing demand for content localization, rapid globalization of businesses is generating need for multilingual communication, and increasing adoption of voice recognition technology.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market size data, segment with regional analysis and vendor landscape in addition to an analysis of the key companies. Reports have historic and forecast data.
The machine translation market is segmented as below:
By Deployment
- On-premises
- Cloud
By Application
- Defense
- IT
- Automotive
- Healthcare
By Technology
- SMT
- NMT
- RBMT
- HMT
- EBMT
By Usage
- H2M translation
- M2M translation
By Geographical Landscape
- North America
- Europe
- APAC
- South America
- Middle East and Africa
The report on the machine translation market covers the following areas:
- Machine Translation Market sizing
- Machine Translation Market forecast
- Machine Translation Market industry analysis
The report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.
Table of Contents
1 Executive Summary
2 Market Analysis
3 Market Landscape
4 Market Sizing
5 Historic Market Size
6 Qualitative Analysis
7 Five Forces Analysis
8 Market Segmentation by Deployment
9 Market Segmentation by Application
10 Market Segmentation by Technology
11 Market Segmentation by Usage
12 Customer Landscape
13 Geographic Landscape
14 Drivers, Challenges, and Opportunity/Restraints
15 Competitive Landscape
16 Competitive Analysis
17 Appendix
List of Exhibits
Executive Summary
The following companies are recognized as the key players in the global machine translation market: Alphabet Inc., ARGOS TRANSLATIONS Sp. z o.o., Babylon Software Ltd., Cloudwords Inc., CSOFT International Inc., Global Lingo Ltd., Honyaku Center Inc., International Business Machines Corp., Lingotek Inc., Lingua Custodia, Lionbridge Technologies LLC, Microsoft Corp., Omniscien Technologies, Promt, RWS Holdings PLC, SYSTRAN SA, Teleperformance SE, thebigword Group Ltd., TransPerfect Global Inc., and Welocalize Inc..Commenting on the report, an analyst from the research team said: "The latest trend gaining momentum in the market is rising use of multilingual ai."
According to the report, one of the major drivers for this market is the increasing demand for content localization.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Alphabet Inc.
- ARGOS TRANSLATIONS Sp. z o.o.
- Babylon Software Ltd.
- Cloudwords Inc.
- CSOFT International Inc.
- Global Lingo Ltd.
- Honyaku Center Inc.
- International Business Machines Corp.
- Lingotek Inc.
- Lingua Custodia
- Lionbridge Technologies LLC
- Microsoft Corp.
- Omniscien Technologies
- Promt
- RWS Holdings PLC
- SYSTRAN SA
- Teleperformance SE
- thebigword Group Ltd.
- TransPerfect Global Inc.
- Welocalize Inc.
