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Machine Translation Market Insights 2020| Leading Players Smart Communications, Inc., Google, IBM, Lighthouse, Lionbridge, Microsoft, Moravia

Machine Translation Market

Machine Translation Market

Machine translation market is observing a swift uptake with the growing need in several sectors to provide information in native languages. Importance of language localization in most of the businesses have helped to win customers trust and maintain strong client relationships. This fact is making machine translation units an absolute must-have in the business space.

Machine translation market from the automotive application is gaining a considerable traction, owing to the increasing use of MT in interpreting technical documentation, automotive-websites such as ChromeData, motor parts catalogs, and how-to-do manuals. Moreover, machine translation technology has also helped the OEMs in quickly entering international platforms and markets to enhance their reach.

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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. AppTek LLC
2. Cloudwords
3. Google Inc.
4. IBM Corporation
5. Lighthouse IP Group
6. Lingo
7. Limited
8. Lingotek
9. Lionbridge Technologies
10. Microsoft Corporation
11. Moravia IT
12. Omniscien Technologies
13. Lucy Software and Services GmbH
14. PangeanicMT
15. PROMT Ltd.
16. SDL PLC
17. Systran International
18. Raytheon BBN Technologies
19. Smart Communications
20. Welocalize

The Hybrid model in machine translation market makes use of both RMBT & SMT technology to create numerous variations and the lexicon and sentence structure level. SMT technology dominated the global machine translation industry in 2016, having had 60% of industry share. Growing demand of SMTs from the commercial sector and its fast computing hardware has driven the market size.

The invention of machine translation dates to the post world war II era, when the competition for information and technology motivated the researchers to find a way to quickly translate information. Since then, globalization, access to the internet, advancement in speech recognition software and proliferation of powerful computers were a few key factors that fueled the progress of global machine translation market.

Asia Pacific machine translation market will generate lucrative revenue over the years ahead. The growth can be attributed to the growing adoption of MT tools, mainly across China and India, primarily owing to the fact that these regions exhibit the existence of various local languages. This, in turn, will boost the demand for machine translation products. Most of the firms across India are implementing MT tools to minimize the communication barrier, which is predicted to create an attractive growth avenue for the industry participants.

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