Machine Translation Market Gain CAGR Growth of 19.40% | Opportunity, Growth, Revenue and Market States and Outlook 2022

Crystal Market Research has Announce the addition of the Report global Machine Translation market was worth USD 0.25 billion in the year 2012 and is expected to reach approximately USD 1.48 billion by 2022, while registering itself at a compound annual growth rate (CAGR) of 19.40% during the forecast period. Expanding interest for cost productivity in translation, developing volume of site content, and the huge measure of dialect learning required surpasses the limit of human translation, which thusly is relied upon to fuel the machine translation market.

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Globalization eases the need to address the linguistic variety of local audiences and web content. The conception of content created on the internet, developing significance of businesses in developing markets, and the requirement for empowering worldwide coordinated effort among representatives is relied upon to drive machine translation market development over the gauge time frame. The costs of machine translation are relatively low in comparison to conventional human translation. It is additionally quicker than human translation and usually utilized for high-volume content that would alternatively take enormous assets for translation, which is foreseen to drive the machine translation market.

Accessibility of translation engines that are free such as Google Translate and Microsoft Bing and absence of exactness of translation may inhibit market development. Significant difficulties for the machine translation market are an absence of quality, requirement for master aptitudes and post-altering, competition from translation service providers that are free, and trouble in quality estimation and measurement.

Competitive Insights: Most MT mediums are text-based and give quick translations between different languages in the form of text. Some others do offer the choice of language keyboards and audio input/output. Machine translation as a service (MTSaaS) utilizes SMT and is available by means of the web. This enables clients to alter their machine translation engine with their translation memories, otherwise called do-it-yourself machine translation. Building up an incorporated foundation is required to be a basic achievement factor for picking up share of the market. Subsequently, key joint endeavors, combined with acquisitions and mergers have been among the key procedures implemented. The major players in the market are Lionbridge, SYSTRAN and SDL plc.

Machine Translation Industry Outlook and Trend Analysis: Consumers in the electronics business require effective translation of reports keeping in mind the end goal to accelerate production procedures and time for marketing. An electronics organization needs distributing to be done in numerous languages to give commercial and marketing catalogs, web publishing, press releases for product launches, user manuals, commercial and marketing catalogs, and so on. Machine translation suppliers create modified engines for customers in the electronics sector that are well-informed with the business' technical descriptions and particular terminologies. The machine translation market discovers application in the healthcare industry to meet the correspondence requirements of doctors. Healthcare organizations depend on translation administrations of patient pamphlets, doctor manuals, leaflets, and instructions for use, sites and other critical correspondence materials.

Key Technology and Growth Factors: RBMT is a system of machine translation in view of data about the target and source languages that is extracted from grammars and dictionaries which needs human contributions for development. The process of translation is determined by human specialists who build up an arrangement of guidelines overseeing the procedure. Statistical machine translation adopts a model to determine and produce text in the objective language, while translation that is rule-based makes use of linguistic guidelines over the source dialect to create message in the objective language. The vast majority of the present RBMT systems are being supplanted by SMT, and the market has shifted towards more SMT as prime players, for example, Lionbridge, SDL, and other language specialist co-ops are putting forth unadulterated SMT.

Regional Outlook and Trend Analysis: North America has the biggest regional contribution to the search segment in the Machine Translation market; APEJ is anticipated to develop at a quicker rate and almost be equal to North America over the upcoming years. North America: (U.S., Canada & Mexico), Europe: (Germany, UK, France, Russia, Italy & Rest of Europe), Asia-Pacific: (China, Japan, South Korea, India, Southeast Asia & Rest of Asia-Pacific), South America: (Brazil, Argentina, Columbia, South Africa & Rest of South America) and Middle East and Africa: (Saudi Arabia, UAE, Egypt, Nigeria, South Africa & Rest of MEA)

Market Classification:
Machine Translation Market, By Application, Estimates and Forecast, 2012-2022 ($Million)
Automotive
Electronics
Military & Defense
Healthcare
IT
Other Applications

Machine Translation Market, By Technology, Estimates and Forecast, 2012-2022 ($Million)
SMT
RBMT
Other Technologies
...

Research Methodology: We use both primary as well as secondary research for our market surveys, estimates and for developing forecast. Our research process commence by analyzing the problem which enable us to design the scope for our research study. Our research process is uniquely designed with enough flexibility to adjust according to changing nature of products and markets, while retaining core element to ensure reliability and accuracy in research findings. We understand both macro and micro-economic factors to evaluate and forecast different market segments.

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Table of Contents:
Part 1. Introduction

Part 2. Executive Summary

Part 3. Market Overview

Part4. Machine Translation Market, By Application
4.1. Introduction
4.2. Machine Translation Market Assessment and Forecast, By Application, 2012-2022
4.3. Automotive
4.3.1. Market Assessment and Forecast, By Region, 2012-2022 ($Million)
4.4. Electronics
4.7. IT
4.7.1. Market Assessment and Forecast, By Region, 2012-2022 ($Million)
4.8. Other Applications
4.8.1. Market Assessment and Forecast, By Region, 2012-2022 ($Million)

Part 5. Machine Translation Market, By Technology
5.1. Introduction
5.2. The Machine Translation Market Assessment and Forecast, By Technology, 2012-2022
5.3. SMT
…...

Part 8. Company Profiles
7.6. Lighthouse IP Group
7.6.1. Business Overview
7.6.2. Product Portfolio
7.6.3. Key Financials
7.6.4. Strategic Developments

7.7. Lingotek, Inc.
7.7.1. Business Overview
7.7.2. Product Portfolio
7.7.3. Key Financials
7.7.4. Strategic Developments

7.8. Microsoft Corporation
7.8.1. Business Overview
7.8.2. Product Portfolio
7.8.3. Key Financials
7.8.4. Strategic Developments

7.9. Lionbridge Technologies, Inc.
7.9.1. Business Overview
7.9.2. Product Portfolio
7.9.3. Key Financials
7.9.4. Strategic Developments

7.10. Moravia IT
7.10.1. Business Overview
7.10.2. Product Portfolio
7.10.3. Key Financials
7.10.4. Strategic Developments

7.11. Lucy Software and Services GmbH
7.11.1. Business Overview
7.11.2. Product Portfolio
7.11.3. Key Financials
7.11.4. Strategic Developments

7.12. Omniscien Technologies
7.12.1. Business Overview
7.12.2. Product Portfolio
7.12.3. Key Financials
7.12.4. Strategic Developments
…

Reason to Buy:
Highlights key business priorities in order to assist companies to realign their business strategies.
The key findings and recommendations highlight crucial progressive industry trends in the Machine Translation market, thereby allowing players to develop effective long term strategies. Develop/modify business expansion plans by using substantial growth offering developed and emerging markets. Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it. Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.

Additionally, key Machine Translation market players influencing the market are profiled in the study along with their SWOT analysis and market strategies. The report also focuses on leading industry players with information such as company profiles, products and services offered, financial information of last 5 years, key development in past five years.

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