Machine Translation Market Report 2022 focuses on company overview with market characteristics, geographical representation of industry size, share and growth analysis with revenue details and financial status of Top Players – Alphabet Inc., Asia Online Pte Ltd., Cloudwords Inc., Honyaku Center Inc., International Business Machines Corp., Lionbridge Technologies Inc., Microsoft Corp., SDL Plc.
Global “Machine Translation Market” research report is a professional study on the current state of Machine Translation Industry. The report serves key information about the industry, current situation and upcoming market condition, expert opinions, and the latest developments across the globe. The research reveals the market trends and the size of each separate segment within the market. Machine Translation report also delivers market scope, dynamics, forthcoming expansion plans and sales revenue of industry with in the forecast period.
The Global Machine Translation market is expected to grow at a “CAGR of 19% with revenue USD 971.87 million” by 2020-2024.
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About Machine Translation Market:
Machine Translation Market analysis considers sales from the defense, IT, automotive, and healthcare. Our study also finds the sales of machine translation in APAC, Europe, MEA, North America, and South America. In 2018, the defense segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as technological advances will play a significant role in the defense segment to maintain its market position. Also, our global machine translation market report looks at factors such as increased demand for content localization, globalization of businesses, increased government spending on language services, and increasing adoption of voice search. However, open-source machine translation service tools, market fragmentation, and data privacy and security risks in online translation services may hamper the growth of the machine translation industry over the forecast period.
Market Dynamics of Machine Translation Industry:
Driver: Globalization Of Business.
Trend: Increase In Localization Of Video Content
Challenges: Growth Of This Market Is The Open-Source Machine Translation Service Tools.
Globalization of business
The expansion of businesses across the world has increased the need for individuals that are proficient in translation services. Business expansions have made it necessary for companies to translate their documents to comply with regional trade tariffs and laws. Companies are also focusing on expanding their customer base by localizing their services, marketing strategies, and marketing content. These factors have increased the demand for language translation and interpretation services which will lead to the expansion of the global machine translation market at a CAGR of over 19% during the forecast period.
Increase in localization of video content
The demand for video content translations is expected to increase significantly during the forecast period due to the growing consumer preference for product and service-specific videos. Corporate organizations are increasingly using machine video translation services to attract customers through visual and audio content. In addition, the rising demand for webinars and tutorials in local languages has further increased the need for translating video content. This trend is encouraging many market vendors to provide quick and efficient translation services with flexible solutions to offer high-quality video content across various languages and cultures. This development is expected to have a positive impact on the overall market growth.
Some Key Players of Global Machine Translation Market Are:
- Alphabet Inc.
- Asia Online Pte Ltd.
- Cloudwords Inc.
- Honyaku Center Inc.
- International Business Machines Corp.
- Lionbridge Technologies Inc.
- Microsoft Corp.
- SDL Plc
- SYSTRAN SA
- and TransPerfect Global Inc.
Key insights into the global research report:
- Comprehensive analysis of global market drivers and restraints
- Business profiles of key market players
- Competitive analysis of the global market
- Demand-supply chain analysis of top key players
- Some significant sales strategies and methodologies
- Trending topics and its influence on the global market
- Technological advancements and innovative platforms
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Global Machine Translation Market Segmentation:
By Type:
- Type 1
- Type 2
- Type 3
The report also focuses on global major leading industry players of Global Machine Translation market providing information such as company profiles, product picture and specification, capacity, production, price, cost, revenue and contact information. Upstream raw materials and equipment and downstream demand analysis is also carried out.
This Report lets you identify the opportunities in Machine Translation Market by means of region:
- North America
- Europe
- Asia-Pacific
- South America
- The Middle East and Africa
The Machine Translation market has been created based on an in-depth market analysis with inputs from industry experts. The report covers the growth prospects over the coming years and discussion of the key vendors.
Reasons for Buying this Report:
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward looking perspective on different factors driving or restraining market growth
- It provides a five-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
- It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
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Research Objectives of Machine Translation Market Report:
- To analyze the Machine Translation consumption (Value and Volume), product type and application, history data and forecast data till 2024.
- To understand the structure of Machine Translation market by identifying its various sub segments.
- Focuses on the key Machine Translation manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
- To analyze the Machine Translation market with respect to individual growth trends, future prospects, and their contribution to the total market.
- To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
- To strategically profile the key players and comprehensively analyze their growth strategies.
Detailed TOC of Global Machine Translation Market 2021-2024
PART 1 Executive Summary
- Market Overview
PART 2 Market Landscape
- Market ecosystem
- Value chain analysis
PART 3 Market Sizing
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 – 2024
PART 4 Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 5 Market Segmentation by End-user
- Market segments
- Comparison by End-user
- Type 1 – Market size and forecast 2020-2024
- Type 2 – Market size and forecast 2020-2024
- Others – Market size and forecast 2020-2024
- Market opportunity by End-user
PART 6 Customer landscape
PART 7 Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America – Market size and forecast 2020-2024
- APAC – Market size and forecast 2020-2024
- Europe – Market size and forecast 2020-2024
- South America – Market size and forecast 2020-2024
- MEA – Market size and forecast 2020-2024
- Key leading countries
- Market opportunity by geography
PART 8 Drivers and Challenges
- Market drivers
- Market challenges
- Market trends
PART 9 Vendor Landscape
- Overview
- Vendor landscape
- Landscape disruption
PART 10 Vendor Analysis
- Vendors covered
- Market positioning of vendors
PART 11 Appendix
- Scope of the report
- Currency conversion rates for USD
- Research methodology
- List of abbreviations
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To view the original version on The Express Wire visit Machine Translation Market 2022 – Analysis Provides Growth Rate of Manufacturers with Rapid CAGR, Revenue, Global Manufacturing Size, Industry Share with Regions, and Forecast Analysis by 2024
