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The machine translation market is forecasted to grow by USD 1233.9 mn during 2023-2028, accelerating at a CAGR of 15.89% 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, the rapid globalization of businesses is generating the need for multilingual communication, and increasing adoption of voice recognition technology.
The machine translation market is segmented as below:
By Application
- Defense
- IT
- Automotive
- Healthcare
By Deployment
- On-premises
- Cloud
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 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 an analysis of the key vendors.
The publisher presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through 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 research - both primary and secondary. 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 Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Deployment
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
List of Exhibits
Executive Summary
The publisher recognizes the following companies 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, SYSTRAN SA, Teleperformance SE, thebigword Group Ltd., TransPerfect Global Inc., Welocalize Inc., and RWS Holdings PLC.Commenting on the report, an analyst from the research team said: "The latest trend gaining momentum in the market is the 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
- SYSTRAN SA
- Teleperformance SE
- thebigword Group Ltd.
- TransPerfect Global Inc.
- Welocalize Inc.
- RWS Holdings PLC
