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North America Machine Translation Market to surpass $600 mn by 2024: IBM, Microsoft and Google
North America Machine Translation Market
Major companies in the machine translation market in North America are IBM, Microsoft, and Google. In October 2017, Google launched Pixel Buds, a real-time translator that connects web search and connectivity incorporated with a built-in Google Assistant and Google Translate capable of translating 40 different languages.
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North America is the leading machine translation market globally owing to the abundant demands from the IT sector of the U.S. North America’s IT sector holds more than 60% of the regional market demand. This is attributed to the presence of IT technology giants in the region. IT companies are one of the major adopters of this technology for meeting the requirements of global customers. This is one of the major reasons for the North America machine translation market.
Machine translation is mainly used by large enterprises as the deployment of these systems requires high initial cost and resource allocation. Machine translation tools are used as content localization tool and are common in larger organizations. With smaller firms and organizations in North America, the trend of outsourcing such services has been observed. However, when faced with enormous volumes of data, organizations may deploy machine translation as an on-premise business activity.
Moreover, the presence of several providers in the region backed by supportive government policies is driving the North America machine translation market. The increasing investments and developments in artificial intelligence and machine learning by technology giants will bolster the North America machine translation market.
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On the basis of technology, the SMT segment has shown a lucrative growth over the forecast period in this region. Google translate and Microsoft translation use SMT machine translation technology for its online services and applications. Recently, when Google Translate was first launched, Phrase-Based Machine Translation (PBMT) was used as a key algorithm. PMBT algorithm works by splitting sentences into phrases and words that can be translated mainly autonomously. This is considered as the simplest and most popular version of SMT.
Segments We Cover:
North America Machine Translation Market Forecast, By Technology
RBMT
SMT
Others
North America Machine Translation Market Statistics, By Application
Automotive
Military & defense
Electronics
IT
Healthcare
Others
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The above information is provided for the following countries:
U.S.
Canada
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