Prediction of Machine Translation (MT) Global Market - Key Players 2020-2027

Prediction of Machine Translation (MT) Global Market - Key Players 2020-2027

This latest Machine Translation (MT) report published by Global Market Monitor covers the current market dynamics, and provides effective competition strategies and market guidelines for the majority of practitioners.

The Machine Translation Market was valued at USD 550 million in 2019, and it is expected to reach USD 1060 million by 2026, registering a CAGR of 12%, during the period of 2019-2026. North America is expected to receive the largest revenue over the forecast period. Machine translation is an effective way to eliminate language barriers in different regions. The main reason for the expansion of North American MT industry is the growing number of government initiatives and service providers in the region.

Machine translation, also known as automatic translation, is the process of transforming one natural language (source language) into another (target language) by computer.

The increasing demand for content localization, as well as the increasing demand for cost-effective and high-speed translation, are some of the key factors driving the growth of the machine translation market. Globalization is also a factor driving the growth of the machine translation market. It helps tourists understand the local language, and also serves the business needs of multinational companies for communication and cooperation. As machine translation applications achieve a higher level of accuracy, they are increasingly used in different business areas, introducing new applications and enhanced machine learning models.

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Competition Analysis
Major enterprises in the global market of Machine Translation (MT) include:
Asia Online Pte Ltd.
IBM Corporation
ProMT
Lucy Software and Services GmbH
Welocalize Inc.
Pangeanic
AppTek
Lingotek Inc.
SDL PLC
Smart Communications
Raytheon BBN Technologies
Systran International
Lingo24 Ltd.
Moravia IT
Lighthouse IP Group
Lionbridge Technologies Inc.
Cloudwords Inc.

Machine Translation (MT) End-users:
Healthcare
Automotive
Military & Defense
IT
Others

Machine Translation (MT) Market: Type Outlook
Rule-Based Machine Translation (RBMT)
Statistical Machine Translation (SMT)
Example-based Machine Translation (EBMT)
Hybrid Machine Translation (HMT)
Neural Machine Translation (NMT)

Table of Content
1 Report Overview
1.1 Product Definition and Scope
1.2 PEST (Political, Economic, Social and Technological) Analysis of Machine Translation (MT) Market
…
2 Market Trends and Competitive Landscape
3 Segmentation of Machine Translation (MT) Market by Types
4 Segmentation of Machine Translation (MT) Market by End-Users
5 Market Analysis by Major Regions
6 Product Commodity of Machine Translation (MT) Market in Major Countries
7 North America Machine Translation (MT) Landscape Analysis
8 Europe Machine Translation (MT) Landscape Analysis
9 Asia Pacific Machine Translation (MT) Landscape Analysis
10 Latin America, Middle East & Africa Machine Translation (MT) Landscape Analysis
11 Major Players Profile
…

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Key Regions Overview
The report covers the major countries analysis in North America, Europe, Asia Pacific, and the rest of the world. Furthermore, policy mobilization, social dynamics, development trends, and economic development in these countries are also taken into consideration.

Key Stakeholders
Machine Translation (MT) manufacturers
Downstream vendors and end-users
Traders, distributors, and resellers of Machine Translation (MT)
Machine Translation (MT) industry associations and research organizations
Product managers, Machine Translation (MT) industry administrator, C-level executives of the industries
Market Research and consulting firms

Report Spotlights
Detailed overview of market
Changing market dynamics in the industry
In-depth market segmentation
Historical, current and projected market size in terms of volume and value
Recent industry trends and developments
Competitive landscape
Strategies of key players and products offered
Potential and niche segments, geographical regions exhibiting promising growth
A neutral perspective on market performance
Must-have information for market players to sustain and enhance their market footprints

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