Global Machine Translation Market Growth By Key Player: Lionbridge Technologies, Moravia IT, Systran International, Microsoft Corporation, Google, IBM Corporation

Market Overview: -

Machine Translation Market set to reach USD 1.5 billion by 2024. The rising demand for content localization and growing volumes of big data are expected to drive the machine translation market demand. The rapid shift from analog to digital technologies and the proliferation of mobile devices & related applications are generating a voluminous amount of data. This data has generated a high demand for high-speed and cost-effective translation techniques. The amount of data generated is extremely high and is impossible for human translators to analyze and translate, which therefore has resulted in a high machine translation market demand.

The lack of quality and persistent accuracy issues are projected to hamper the machine translation market growth. Accuracy errors are associated with the faulty deployment and development of the software. However, these systems enable the translation of the user-generated content, which can be multi-lingual and is historically extremely difficult for an outdated translation system to process, owing to which their demand is increasing.

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Top Key Players: -

The players operating in the machine translation market include Lionbridge Technologies, Inc., Moravia IT, Systran International, Microsoft Corporation, Google, Inc., and IBM Corporation.

Market share calculation in this report is not done based on companies covered in it. The calculation of machine translation market share is done based on a regional approach and countries covered. On request, additional companies can be covered as well as regional data for particular country / countries can be provided.

Regional Segmentations: -

In the Asia Pacific machine translation market, countries including China and India have found high applications of these systems. For instance, India has a diverse population with a multitude of languages. The growing demand for localization of native languages by various companies and businesses to improve and expand their global reach and to cater to the consumer requirements has effectively led to a rise in the adoption of the translation systems.

Moreover, the need to eliminate and expedite repetitive tasks, such as translating instruction manuals, is driving the growth in the region. China has several companies exporting their products to many countries requiring translation services for relaying the product information to its global customers.

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Partial Chapter of the Table of Content

Chapter 1 Methodology & Scope
1.1 Methodology
1.1.1 Initial data exploration
1.1.2 Statistical model and forecast
1.1.3 Industry insights and validation
1.1.4 Scope, definition and research parameters
1.2 Data Sources
1.2.1 Secondary
1.2.2 Primary
Chapter 2 Executive Summary
2.1 Machine translation industry 3600 synopsis, 2012 – 2024
2.1.1 Regional trends
2.1.2 Application trends
2.1.3 Techology trends
Chapter 3 Machine Translation Industry Insights
3.1 Industry segmentation
3.2 Industry size and forecast, 2012- 2024
3.3 Industry ecosystem analysis
3.4 Technology & innovation landscape
3.4.1 Automated translation
3.4.2 Smart automated translation
3.4.3 Raw machine translation
3.4.4 Fully Automated Usable Translations (FAUT)
3.4.5 Rule based machine translation
3.4.6 Statistical machine translation technology
3.5 Post Editing Machine Translation (PEMT)
3.5.1 Light post-editing
3.5.2 Full post-editing
3.5.3 Post-editing market size, 2014 - 2024
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.1.1 Emerging demand for content localization
3.6.1.2 Increasing need for cost efficiency and high speed translation
3.6.2 Industry pitfalls and challenges
3.6.2.1 Lack of quality and accuracy
3.7 Growth potential analysis
3.8 Porter’s analysis
3.9 Company market share analysis, 2016
3.10 PESTEL analysis

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In India, numerous companies are supporting the deployment and integration of machine translation tools and programs to lessen communication barriers. With the launch of Indian Government's "Digital India" initiative, the Indian IT market is expected to grow significantly and move ahead of several developed markets.

Healthcare applications are anticipated to witness a high demand in the machine translation market. These technologies help in analyzing records and reports of the patients who are not so fluent with the used language. E-commerce applications have consistently contributed to the high demand for the machine translation market owing to which buyers of different demographics are buying products on online platforms, thereby requiring translation services.

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