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Machine Translation Industry Trends and Forecast
The the future of the global machine translation market looks promising with opportunities in the automotive, BFSI, e-commerce, electronics, healthcare, IT & telecommunications, and military & defense markets. The global machine translation market is expected to reach an estimated $1254.0 million by 2030 with a CAGR of 10.5% from 2024 to 2030. The major drivers for this market are rapid demand for the localization of marketing strategies & content among businesses, growing need for machine translation to facilitate communication, and growing usage of the internet and the growing requirement to save expenses.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Machine Translation Industry by Segment
The study includes a forecast for the global machine translation industry by technology, deployment mode, application, and region
Machine Translation Market by Technology [Shipment Analysis by Value from 2018 to 2030]:
• Statistical Machine Translation
• Rule-based Machine Translation
• Neural Machine Translation
• Hybrid Machine Translation
• Example-based Machine Translation
Machine Translation Market by Deployment Mode [Shipment Analysis by Value from 2018 to 2030]:
• On-Premises
• Cloud
Machine Translation Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Automotive
• BFSI
• E-commerce
• Electronics
• Healthcare
• IT & Telecommunications
• Military & Defense
• Others
Machine Translation Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Machine Translation Industry Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies machine translation industry companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the machine translation industry companies profiled in this report include-
• AWS
• Google
• IBM Corporation
• Microsoft Corporation
• Systran International
• Lionbridge Technologies
• Welocalize
Machine Translation Market Insights
Lucintel forecast that on premises is expected to witness highest growth over the forecast period.
Within this market, automotive will remain the largest segment.
Asia Pacific is expected to witness highest growth over the forecast period due to growing adoption of machine translation in countries like China and Japan that have large populations of non-native speakers.
Features of the Global Machine Translation Market
Market Size Estimates: Machine translation market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Machine translation market size by technology, deployment mode, application, and region in terms of value ($B).
Regional Analysis: Machine translation market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different technology, deployment mode, application, and regions for the machine translation market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the machine translation market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q.1 What is the machine translation market size?
Answer: The global machine translation market is expected to reach an estimated $1254.0 million by 2030.
Q.2 What is the growth forecast for machine translation market?
Answer: The global machine translation market is expected to grow with a CAGR of 10.5% from 2024 to 2030.
Q.3 What are the major drivers influencing the growth of the machine translation market?
Answer: The major drivers for this market are rapid demand for the localization of marketing strategies & content among businesses, growing need for machine translation to facilitate communication, and growing usage of the internet and the growing requirement to save expenses.
Q4. What are the major segments for machine translation market?
Answer: The future of the machine translation market looks promising with opportunities in the automotive, BFSI, e-commerce, electronics, healthcare, IT & telecommunications, and military & defense markets.
Q5. Who are the key Machine Translation Market companies?
Answer: Some of the key machine translation industry companies are as follows:
• AWS
• Google
• IBM Corporation
• Microsoft Corporation
• Systran International
• Lionbridge Technologies
• Welocalize
Q6. Which machine translation market segment will be the largest in future?
Answer: Lucintel forecast that on premises is expected to witness highest growth over the forecast period.
Q7. In machine translation market, which region is expected to be the largest in next 5 years?
Answer: Asia Pacific is expected to witness highest growth over the forecast period due to growing adoption of machine translation in countries like China and Japan that have large populations of non-native speakers.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the machine translation market by technology (statistical machine translation, rule-based machine translation, neural machine translation, hybrid machine translation, and example-based machine translation), deployment mode (on-premise and cloud), application (automotive, BFSI, e-commerce, electronics, healthcare, IT & telecommunications, military & defense, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to machine translation market or related to machine translation companies, machine translation market size, machine translation market share, machine translation market growth, machine translation market research, write Lucintel analyst at email: helpdesk@lucintel.com we will be glad to get back to you soon.
Table of Contents
1. Executive Summary
2. Global Machine Translation Market : Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
3. Market Trends and Forecast Analysis from 2018 to 2030
3.1. Macroeconomic Trends (2018-2023) and Forecast (2024-2030)
3.2. Global Machine Translation Market Trends (2018-2023) and Forecast (2024-2030)
3.3: Global Machine Translation Market by Technology
3.3.1: Statistical Machine Translation
3.3.2: Rule-based Machine Translation
3.3.3: Neural Machine Translation
3.3.4: Hybrid Machine Translation
3.3.5: Example-based Machine Translation
3.4: Global Machine Translation Market by Deployment Mode
3.4.1: On-Premises
3.4.2: Cloud
3.5: Global Machine Translation Market by Application
3.5.1: Automotive
3.5.2: BFSI
3.5.3: E-commerce
3.5.4: Electronics
3.5.5: Healthcare
3.5.6: IT & Telecommunications
3.5.7: Military & Defense
3.5.8: Others
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
4.1: Global Machine Translation Market by Region
4.2: North American Machine Translation Market
4.2.1: North American Machine Translation Market by Deployment Mode: On-Premises, Cloud
4.2.2: North American Machine Translation Market by Application: Automotive, BFSI, E-commerce, Electronics, Healthcare, IT & Telecommunications, Military & Defense, Others
4.3: European Machine Translation Market
4.3.1: European Machine Translation Market by Deployment Mode: On-Premises, Cloud
4.3.2: European Machine Translation Market by Application: Automotive, BFSI, E-commerce, Electronics, Healthcare, IT & Telecommunications, Military & Defense ,Others
4.4: APAC Machine Translation Market
4.4.1: APAC Machine Translation Market by Deployment Mode: On-Premises, Cloud
4.4.2: APAC Machine Translation Market by Application: Automotive, BFSI, E-commerce, Electronics, Healthcare, IT & Telecommunications, Military & Defense, Others
4.5: ROW Machine Translation Market
4.5.1: ROW Machine Translation Market by Deployment Mode: On-Premises, Cloud
4.5.2: ROW Machine Translation Market by Application: Automotive, BFSI, E-commerce, Electronics, Healthcare, IT & Telecommunications, Military & Defense, Others
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Machine Translation Market by Technology
6.1.2: Growth Opportunities for the Global Machine Translation Market by Deployment Mode
6.1.3: Growth Opportunities for the Global Machine Translation Market by Application
6.1.4: Growth Opportunities for the Global Machine Translation Market Region
6.2: Emerging Trends in the Global Machine Translation Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Machine Translation Market
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Machine Translation Market
6.3.4: Certification and Licensing
7. Company Profiles of Leading Players
7.1: AWS
7.2: Google
7.3: IBM Corporation
7.4: Microsoft Corporation
7.5: Systran International
7.6: Lionbridge Technologies
7.7: Welocalize
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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
In-depth interviews of the major players in this market
Detailed secondary research from competitors’ financial statements and published data
Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
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