1h Free Analyst Time
The ai-enabled translation services market is forecasted to grow by USD 3.78 billion during 2024-2029, accelerating at a CAGR of 16.3% during the forecast period. The report on the ai-enabled translation services 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 transformative advancements in AI and large language models, unprecedented globalization and the proliferation of digital content, and escalating demand for personalized and real-time customer experiences.
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 ai-enabled translation services market is segmented as below:
By Technology
- NMT
- Hybrid machine translation
- Statistical machine translation
- Ruled-based machine translation
By Deployment
- Cloud-based
- On-premises
By Application
- E-commerce and retail
- Healthcare and pharmaceuticals
- Legal and financial services
- Others
By Geographical Landscape
- North America
- Europe
- APAC
- South America
- Middle East and Africa
The report on the ai-enabled translation services market covers the following areas:
- AI-Enabled Translation Services Market sizing
- AI-Enabled Translation Services Market forecast
- AI-Enabled Translation Services 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 Five Forces Analysis
7 Market Segmentation by Technology
8 Market Segmentation by Deployment
9 Market Segmentation by Application
10 Customer Landscape
11 Geographic Landscape
12 Drivers, Challenges, and Opportunity/Restraints
13 Competitive Landscape
14 Competitive Analysis
15 Appendix
List of Exhibits
Executive Summary
The following companies are recognized as the key players in the global ai-enabled translation services market: Amazon Web Services Inc., AppTek, Crowdin, DeepL SE, Google LLC, International Business Machines Corp., KantanAI, LILT Inc., Lionbridge Technologies LLC, Meta Platforms Inc., Microsoft Corp., Phrase GmbH, RWS Holdings PLC, Smartcat Platform Inc., Smartling Inc., Speakt, SYSTRAN SA, TransPerfect Global Inc., and Unbabel Inc..Commenting on the report, an analyst from the research team said: "The latest trend gaining momentum in the market is emergence of multimodal ai and rich media localization."
According to the report, one of the major drivers for this market is the transformative advancements in ai and large language models.
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:
- Amazon Web Services Inc.
- AppTek
- Crowdin
- DeepL SE
- Google LLC
- International Business Machines Corp.
- KantanAI
- LILT Inc.
- Lionbridge Technologies LLC
- Meta Platforms Inc.
- Microsoft Corp.
- Phrase GmbH
- RWS Holdings PLC
- Smartcat Platform Inc.
- Smartling Inc.
- Speakt
- SYSTRAN SA
- TransPerfect Global Inc.
- Unbabel Inc.
